Did Putin Really Cause America's Inflation?

1. 86

   Sharlee01posted 2 years ago

   
   Biden blames everything but his government spending for the monthly growing inflation. Which now is at 8.5%, a 40-year high.  Biden has gone through painstaking efforts to shirk responsibility for the state of  America's failing economy,  blaming meat conglomerates, oil companies, COVID, port problems, truckers, and now is even blaming Russian President Vladimir Putin. Yes, Tuesday. In a speech addressing the dismal report, Biden blamed "Putin’s price hike" for the rising prices.
   
   Biden tweets --   "Putin's invasion of Ukraine has driven up gas prices and food prices all over the world," Biden said. "So everything is going up. We saw it in today's inflation data. Seventy percent of the increase in prices in March came from Putin's price hike in gasoline."
   I’m doing everything I can to bring down prices and address the Putin Price Hike.
   5:15 PM · Apr 12, 2022·The White House
   
   
   As I stated, Biden’s blame game is not new, it has evolved over the past several months. Actually, his blame game began way back when we first saw inflation starting to accelerate about a year ago, the White House largely downplayed it as "transitory. We were told by many experts,  It should be gone in a couple of months.
   
   "The overwhelming consensus is it’s going to pop up a little bit and then go back down," Biden said in June 2021 after inflation increased to 5%.  President Biden
   
   "These disruptions are temporary," Biden said in July 2021 after inflation jumped another 5.4%. President Biden
   
   "It’s the peak of the crisis," the president said in December after inflation hit a whopping 6.8%. "You’ll see it change sooner, quicker, more rapidly than people think."  President Biden
   
   At the time, Biden was primarily blaming the COVID-19 pandemic’s effect on global supply chains and corporate greed for the rising costs.
   
   At a Dec. 13 press briefing, White House press secretary Jen Psaki pointed a finger at "the greed of meat conglomerates" for hiking prices on food during the pandemic. The North American Meat Institute later slammed the White House for distorting the "fundamentals of supply and demand."  Source  https://www.foxbusiness.com/politics/bi … -inflation
   
   Biden’s own economic advisers also reportedly objected to claims that corporate greed is the problem. In February, members of the White House Council of Economic Advisers pushed back against the administration’s claims tying inflation to corporate consolidation and monopoly power, the Washington Post reported.
   
   THEN ON Feb. 24, Russia INVADED  Ukraine, presenting the White House with two new villains to blame for rising prices: Putin and the oil and gas industry.
   
   Less than two weeks after the invasion, Biden coined the phrase "Putin price hike" to further cushion the blow from rising inflation and energy prices.
   
   "I’m going to do everything I can to minimize Putin’s price hike here at home," he said in a March 8 speech announcing a ban on U.S. imports of Russian energy.
   
   But gas prices were already soaring to levels not seen since the Great Recession before the Russian oil ban. Republicans have blamed the rising prices on Biden’s green energy agenda, including his axing of the Keystone XL pipeline, for bolstering America’s reliance on global oil markets.
   
   In addition to Biden's energy policies, critics have also blamed Biden’s $1.9 trillion American Rescue Plan for the inflation crisis, arguing that the $1,400 stimulus checks sent to Americans quickly overheated the economy. Just before the legislation passed in March 2021.  Larry Summers former Obama economic adviser warned the plan could "set off inflationary pressures of a kind we have not seen in a generation."
   
   Former Obama economic adviser Steven Rattner slammed the White House’s inflation messaging in a tweet last month, saying Biden needs to "own" his part in the crisis.
   
   So, any thoughts? Did Putin cause an already growing inflation?
   
   What excuse will Biden use for the very much possible recession?
   
   Do you feel we will have a recession?
   
   It’s Joe Biden’s Inflation
   https://www.wsj.com/articles/its-joe-bi … 1646952656
   https://www.washingtonpost.com/opinions … -not-work/

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2. 68

   Ken Burgessposted 2 years ago

   No one is happier about Putin's invasion than the Biden Administration.
   
   They are going to blame inflation, soaring energy prices, foot shortages, rising taxes... everything... on Russia's invasion of Ukraine.
   
   And I expect the bulk of the MSM is going to get lock-step right behind it and support that message.  They are going to pound away at it non-stop until after mid-term elections.

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      Sharlee01posted 2 years agoin reply to this

      Yes, I too expect MSM to get on board, but I have been looking around, and they may be the only media outlet that does support his newest blame game.  I think the majority of Americans are done with Biden, many having buyers remorse.

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         Ken Burgessposted 2 years agoin reply to this

         There is an interesting theory regarding this:
         
         https://thepostmillennial.com/rush-limb … rats-biden
         
         However, if the idea is to replace him with Harris, there would be no clearer sign that the system is totally broken and your vote means absolutely nothing, than if she were to win an election and retain the Presidency.
         
         We have had some sad cases for VP in the past, but none more incompetent, none more incomprehensible when in front of a microphone, none more ignorant of the facts regarding anything she has been placed "in charge" of. 
         
         I believe the biggest reason there isn't a call for Biden's resignation from his own Party is the total mistrust and misgivings they have about Harris.

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            Valeantposted 2 years agoin reply to this

            Two words...Dan Quayle.   
            
            On June 15, 1992, Quayle altered 12-year-old student William Figueroa's correct spelling of "potato" to "potatoe" at the Muñoz Rivera Elementary School spelling bee.

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               Ken Burgessposted 2 years agoin reply to this

               She has topped that, multiple times over.
               
               https://www.youtube.com/watch?v=5mm6klb1jtk
               
               https://www.youtube.com/watch?v=WOhcCPqc4pk
               
               https://www.youtube.com/watch?v=WPgLU8IDNTI

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                  Valeantposted 2 years agoin reply to this

                  That was one of so many examples of Quayle idiocy.  It's not worth the time to argue.  We can agree to disagree.

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      Fayetteville Fayeposted 2 years agoin reply to this

      But what would you specifically blame it on? I mean specific policies that have been actually passed?

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3. 86

   Sharlee01posted 2 years ago

   Today the White House is pointing its finger at Governor Abbot of Texas.
   
   The Biden administration is claiming that Texas Gov. Greg Abbott's inspection of trucks entering the U.S. from Mexico is not only "unnecessary," but contributing to inflation throughout the country.
   
   In a statement issued Wednesday morning, White House press secretary Jen Psaki said that the delays caused by Abbott's policies were having far-reaching impacts.
   
   "Governor Abbott’s unnecessary and redundant inspections of trucks transiting ports of entry between Texas and Mexico are causing significant disruptions to the food and automobile supply chains, delaying manufacturing, impacting jobs, and raising prices for families in Texas and across the country.," Psaki said.
   
   Last week, Abbott directed the Texas Department of Public Safety to carry out "enhanced safety inspections" of vehicles that pass through ports of entry, citing "cartels that smuggle illicit contraband and people across our southern border." Abbott is anticipating an uptick in smuggling when the Biden administration ceases expelling migrants via the Title 42 public health order.
   
   Really?  Has this idiot ever heard of drug smuggling, as well as human trafficking?
   
   So, sorry to interrupt the speed at which drugs and migrants can pour in...

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4. 86

   Sharlee01posted 2 years ago

   Wholesale Inflation Soars at 11.2% Rate in March, Largest Gain on Record!
   April 13, 2022  PPI report gives little reason for optimism on inflation

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      Valeantposted 2 years agoin reply to this

      Largest gain on record, dating back to 2010....your latest omission of facts to fit a false narrative.
      
      https://www.thebalance.com/u-s-inflatio … st-3306093

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         tsmogposted 2 years agoin reply to this

         Thanks for the link Valeant! Educational and enlightening with great insights for those who are learning.

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            Valeantposted 2 years agoin reply to this

            Many here, myself included at times, get fed incomplete information and get so excited that they race to hit the reply button without digging deeper.  Thankfully, a few are willing to admit when their points are flawed, but for some reason that doesn't adjust their overall thinking on a subject.
            
            Which could be a thread of its own.  What topic have you changed your mind about after getting more detailed information?  I know one for me was Kyle Rittenhouse.  When I listened to the testimony, there was no doubt his self defense claim was valid.

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         2. 68

            Ken Burgessposted 2 years agoin reply to this

            The problem with that link, is it is not going to reverse in 2022.
            
            That is a projection which has already proven false, inflation has only continued to worsen throughout the year, now over 8% monthly and worsening.
            
            And that does have a lot to do with policies set at the Administration level, things like paying farmers not to farm, rescinding rights to drill for oil, each such decision impacts supply and demand, poor decisions lead to worsening economic factors.

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               Valeantposted 2 years agoin reply to this

               When a country that produces as much global oil as Russia cranks up the prices and attacks another country that produces so much food such as Ukraine, in the year after global supply chains were affected by a pandemic, then inflation will get worse.
               
               And as noted by others, this inflation is on a global scale.  Blaming it on Biden alone is amazingly short-sighted.

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                  Ken Burgessposted 2 years agoin reply to this

                  Ukraine's impact on American food and energy production is nil.
                  
                  https://tradingeconomics.com/united-sta … om-ukraine
                  
                  Same for Russia
                  
                  https://tradingeconomics.com/united-sta … rom-russia
                  
                  Now if you want to deflect the matter, I suggest you try pointing out how the Pandemic shut downs caused such disruption (thank those Democratic Governors for slamming their States with draconian measures) and how China's continued suppression of its people is causing major issues.  You could also add the out of control looting of train cars and storage containers in California is having an impact, organized crime in CA is having a field day.
                  
                  And of course, as I stated here and elsewhere, so many farmers are being told not to grow crops, thanks to the Biden administration paying them not to farm, and private individuals like Bill Gates buying them up and shutting them down... those farms alone could feed the country.
                  
                  https://www.governing.com/now/the-biden … ot-to-farm
                  
                  https://www.farmlandriches.com/bill-gates-farmland/

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                     Valeantposted 2 years agoin reply to this

                     This is like the global oil supply all over again.  When you remove 20% of the global supply, prices are going to go through the roof - thank you Trump for that.
                     
                     When you remove Ukraine, who ranks inside the top-10 in multiple food producing areas, from the global markets, the supply drops and the demand increases - globally.  Other countries will dip into the same suppliers that the US uses.  It's economics 101.
                     
                     As to your last two links:
                     Your own link about Biden paying people not to farm notes that 21 million acres are already in the the program and is a tiny fraction of the land farmed nationwide.  Biden wants to increase the 21 to 25.  Talk about trying to make a mountain out of a molehill.
                     
                     From your Bill Gates article:
                     'Officially, the general public doesn’t know exactly what Bill Gates’ growing farmland estate is being used for. However, when you read between the lines with an objective and open mind, one can infer much.
                     
                     Here are a few “likely” reasons why Bill Gates is scooping up farmland:'
                     
                     We 'don't know; and some 'likely things', none of which were what you claimed by the way, doesn't sound very reliable at all.

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                        Ken Burgessposted 2 years agoin reply to this

                          You're too funny.
                        
                        Its one thing to have a bias, its another to be blinded by it.

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                           Valeantposted 2 years agoin reply to this

                           So Trump didn't negotiate a deal for five oil producing countries to reduce the global oil supply in April of 2020?  Odd since that is what multiple media, including even Fox News, reported.
                           
                           You're right.  When you have such bias where you can ignore important economic factors that are sure to send inflation skyrocketing, you're blind.

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                              Ken Burgessposted 2 years agoin reply to this

                              Comical, sadly so.

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                                 Valeantposted 2 years agoin reply to this

                                 Reported, happily.  When you want to talk issues and not just lob insults, let me know.

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                                    Sharlee01posted 2 years agoin reply to this

                                    I will jump in on this conversation, purely out of curiosity.
                                    
                                    Val,   
                                    
                                    I assume you are talking about the 2020 oil war between Russia and OPEC+, and Trump working with both countries to reduce production due to the oil glut that was resulting, due to the pandemic.  This is a very complicated subject.
                                    
                                    With people not using as much oil, the entire world's appetite for oil came crashing down, all due to COVID.
                                    
                                    In 2020  a price war between giant producers Saudi Arabia and Russia has caused the oil supply to swing up.
                                    
                                    I don't think or at least I can't remember having seen such a large potential oversupply situation — ever...
                                    
                                    The expected surplus is was so large as to raise questions about where it can all be stored.
                                    
                                    President Trump took advantage and fill the Strategic Petroleum Reserve, stashing vast quantities. Tankers at sea were used as floating storage. Tanks on land were filled up. Some producers were forced to shut down wells sooner than they planned because no storage facilities were available.
                                    
                                    Saudi Arabia and Russia are waging a war of attrition, flooding the market with cheap crude in a way that hurts both countries (and every other oil producer). 
                                    
                                    At the same time, the pandemic continued to drop the need for oil.  The situation — sharp, simultaneous, and divergent changes in oil supply and demand  -- was remarkable.
                                    
                                    Importantly - We've never had demand shocks with supply shocks, That's what made the situation so unprecedented.
                                    
                                    One consequence: lower prices, and oil prices collapsed after the Saudi-Russian price war started.
                                    
                                    That was a  blow to oil producers, and many American oil and gas companies were literally expected to go into bankruptcy.  With a predicted loss of oil, and oil-related jobs.50,000 jobs.
                                    
                                    For consumers, the oil glut did mean cheaper gasoline prices — In  some states, gas is below $2 per gallon. But with travel restrictions in place, and people urged to remain inside their homes, most citizens did not feel much of a benefit.
                                    
                                    The other side effect we begin to have wild market conditions, due to the massive surplus of excess oil.
                                    
                                    Analysts were predicting the world could not,  hypothetically, store more than a billion extra barrels of oil. But the world was currently on track for a cumulative surplus of more than 2 billion barrels a day in a short time.
                                    
                                    Also predicting the 2020 historic glut will affect oil markets long after quarantines are lifted.  And the industry may be massively reshaped by the coronavirus in other ways — the massive disruption in how we live and work could have unexpected effects on the world's future consumption behavior.
                                    
                                    It was a crisis that needed impedance attention to stabilize oil production. Trump helped bring Russia and Saudi Arabia to an agreement to cut pumping and avert problems that could occur due to their oil war.
                                    
                                    I am not sure how or why you feel what he did at that point was counterproductive.  It appeared to avert bankruptcies, and job losses, as well as helped stabilize the stock market. It would seem he acted quickly on behalf of the American people.  If he did not settle the oil war,  shortly before Biden took over, I would hate to think what he would have walked into. An already compromised economy would have added some 50,000 job losses and bankrupt oil companies. As well as a very damaged stock market.
                                    
                                    Not sure if you remember just how serious the oil war was in 2020.
                                    
                                    I would be interested in how you feel Trump's move to settle the oil war was a negative solution to a huge crisis. I am perplexed. 
                                    
                                    Shar

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                                       Valeantposted 2 years agoin reply to this

                                       I have a dual degree in economics and management science.  All I am trying to get people continually blaming Biden for gas prices to do is recognize that when you remove 20% of the global supply of any good or service, that is going to lead to a spike in pricing.
                                       
                                       It may have been a solution at the time, but it definitely is a contributing factor to the inflation we are seeing now as production has still not recovered as companies are leaning towards profits over production.

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                                    2. 68

                                       Ken Burgessposted 2 years agoin reply to this

                                       Well explained.
                                       
                                       I appreciate the effort, but only an objective mind will see its merits. 
                                       
                                       People willing to tie themselves (or the facts) into knots to justify their perspectives and politics will be blind to it.

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                                       1. 86

                                          Sharlee01posted 2 years agoin reply to this

                                          I just remember the turmoil that preceded the intervention to cut the oil supply in 2020. It was a disaster that was accelerating and needed some sort of solution to save our oil industry and jobs. I know at the time the deal seemed to stabilize the problem.
                                          
                                          I also remember Trump claiming at the time of the deal, that our oil reserves were almost empty, and he would fill them to 100%. This was proven not to be true. The reserves are always kept about 90% full, Trump added 10% to fill them. I can't find the article from 2020, so can't verify the stats. But I do know his statement was fact-checked and found untrue.

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                                             Ken Burgessposted 2 years agoin reply to this

                                             I remember the time well enough, you could get oil commodities for almost nothing, I wish I traded in commodities myself back then, I would have far more money today if I did.
                                             
                                             The Global Price Index of All Commodities has more than doubled since its pandemic low in 2020.  We are in a far more perilous predicament today than at any time during the Trump Administration.

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                                                Sharlee01posted 2 years agoin reply to this

                                                Oh yes, we are...  And it most likely will get worse.  I am sure you heard the latest    ---, April 14, 2022.
                                                Reuters
                                                "The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an increase in the royalties companies must pay to drill.
                                                
                                                President Joe Biden, who on the campaign trail called for an end to drilling on federal lands, has been looking for ways to temporarily increase U.S. energy production to help drive down the price of gas."
                                                
                                                (Really Joe? Not sure oil companies will take him up on his offer at this point. He gave them hell, and now this, and to boot, he has the audacity to increase the royalties companies must pay to drill. Plus it takes some times a year or more to check out a lease, and if it all looks a good time to set up to drill. Biden is always a day late and a dollar short. Plus, do you think oil bigwigs will make this political, and give him the shaft?  I mean he certainly gave them the shaft on day one. I mean I would think they will want to see the backsides of Dems in 2024.

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                                                   Ken Burgessposted 2 years agoin reply to this

                                                   That is a Press Release stunt.
                                                   
                                                   They know the Oil companies will balk at that, but it makes them look like they are actually doing something to try and drive the costs down.

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                                                      Sharlee01posted 2 years agoin reply to this

                                                      Oh my God, it well could be. I mean it is in their playbook --- page 4,500, paragraph two. LOL
                                                      
                                                      I think I am slipping, hard to even keep up with all the BS. I mean it makes my head spin.

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                                                   Valeantposted 2 years agoin reply to this

                                                   Considering they are sitting on over 7,000 leases already on federal lands, not sure this is really all that big a deal.

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                                                      Sharlee01posted 2 years agoin reply to this

                                                      Ya know Val,   I think it would have been a good move a few months ago or before he banned Russian oil. The move could have been looked at as problem-solving, doing the best he could in a bad situation.  If he would have made this move just before banning Russia's oil it would have played as a strategic move to offset the banned oil. Plus it would not look as if he was not breaking a promise, but doing what he needed to doing a crisis. Now it looks like he is not only using oil reserves but breaking a campaign promise to bring gas prices down --- all due to the upcoming elections. This all looks pretty political, and many people are cynical about these kinds of "what looks to be ploys".
                                                      
                                                      I think now Ken is right, it was meant to be a  -- Hey look I am trying to do something to keep gas prices down.
                                                      
                                                      But, I think it would have been a bit of a feather in his hat if he had done it a while back. I really feel he is being given bad advice or he is not listening to advice.
                                                      
                                                      As I said a way back when --- his term could have been much different if he just came in with less zest, took time to really see how all would play out for a while so to say.

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                                                         Valeantposted 2 years agoin reply to this

                                                         Actually, it was just a response to a court order.  Oil companies are choosing not to drill on the existing leases they already have.  Maybe it's a changing workforce due to Covid, maybe it's a choice to rake in massive profits after a disastrous 2020 for them.  If people want free market capitalism, times like these come with the package.

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                                                         1. 86

                                                            Sharlee01posted 2 years agoin reply to this

                                                            Yes, the oil companies have dug in, and are making a profit, along with slamming Biden. Many are blaming Biden, and just bypassing the fact that oil companies have decided not to play fair. Let's face it they don't have to. They will make tons of cash while Biden gets "bad press" in high prices at the pump. They really are being very political, and want him gone, like yesterday.
                                                            
                                                            How can we ever win?

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                                                               Valeantposted 2 years agoin reply to this

                                                               Americans could unite against the oil companies instead of attacking the person who has little control over gas prices.

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                                                                  Sharlee01posted 2 years agoin reply to this

                                                                  Val, in essence, you are on the money. But, we are a society that puts oil above all. We can move away from oil, but it will take time to do it smoothly. Just consider Europe and the predicament they have worked their way into, depending on Russia for much of their energy.
                                                                  
                                                                  Is this not a problem that haunts us all? Putin is using this very heavy anvil to hang over Eropes head is he not?
                                                                  
                                                                  They ultimately are helping pay for Putin's war. While we are on the subject, on another political chat a user claimed that although the US banned Russian oil, he claimed the oil as of yet is still flowing, due to the US having paid into the future. Have you seen anything on this? I have not.
                                                                  
                                                                  He has not produced a source as of yet.

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                                                                     Fayetteville Fayeposted 2 years agoin reply to this

                                                                     Washington will give companies 45 days to wind down existing contracts for Russian energy supplies.
                                                                     https://www.wsj.com/articles/u-s-planni … 1646746787

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                                                                  Ken Burgessposted 2 years agoin reply to this

                                                                  Play political games... win political prizes.
                                                                  
                                                                  Biden played his shut-down pipelines, increase regulations, etc. day one when he got in office.
                                                                  
                                                                  He gave the Saudi Royals the screw you when he first got in office.
                                                                  
                                                                  And they in turn told his Administration to pound sand when he needed them to bail him out.
                                                                  
                                                                  It is what it is, Biden is the President, he owns what happens to our economy, our oil & gas prices, and if he can't fix things he doesn't belong in the office and its time to try someone else... other than Harris.

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                                                                     Fayetteville Fayeposted 2 years agoin reply to this

                                                                     What functioning pipeline did he shut down? You do understand that keystone XL was never functioning? It was essentially a trash heap even by the descriptions of its owners.
                                                                     And again you seem to support the idea of nationalized oil?  You either support continuing our dependence on oil and nationalizing, keeping all of our oil at home while creating the refineries to deal with it?  Or The move away from oil toward renewables so that we are not caught in this global oil web any longer?
                                                                     
                                                                     https://www.nytimes.com/2022/04/15/clim … eases.html

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                                                                     Sharlee01posted 2 years agoin reply to this

                                                                     The man has made a mess of anything he touched, or however may be pulling his strings has made this big old mess. At this point, it is sickening to watch anyone try to defend Biden's very very obvious mistakes.
                                                                     
                                                                     He makes a mess and then proceeds to make it ten times worse.
                                                                     he walked right into the mess he caused the oil companies, and they on big.  Making tons of cash, and have totally killed Biden, and the democratic party in 2022, and 2024.  And all to please a few minorities on the far left. Oh my, what can one say?

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                                                                        Fayetteville Fayeposted 2 years agoin reply to this

                                                                        I still don't understand why some people think he influenced the oil companies, how?  What policy?

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                                                                        Ken Burgessposted 2 years agoin reply to this

                                                                        Like you alluded to, he is just the puppet, the stooge, he is pushing agendas and pursuing policy that he is told to pursue.
                                                                        
                                                                        Biden is controllable, Biden is compromised, Biden is there to be the fall guy for all that is going down during his Administration.
                                                                        
                                                                        Keep that in mind as things unfold during the months to come, he quite literally is there to be blamed for it all... it's not incompetence it is merely supposed to appear like that.
                                                                        
                                                                        Afghanistan, Ukraine, Energy Crisis, Food Crisis, Recession, Inflation...
                                                                        
                                                                        Fall guy.

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                                                                           Fayetteville Fayeposted 2 years agoin reply to this

                                                                           What policy is he being told to pursue?

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                                                                              Ken Burgessposted 2 years agoin reply to this

                                                                              Here are a few:
                                                                              
                                                                              https://www.iom.int/global-compact-migration
                                                                              
                                                                              https://sdgs.un.org/2030agenda
                                                                              
                                                                              https://www.weforum.org/projects/frontier-2030
                                                                              
                                                                              http://www.businessfor2030.org/
                                                                              
                                                                              https://www.msn.com/en-us/news/world/ge … ar-AAUX1nC
                                                                              
                                                                              Related to the above link:
                                                                              
                                                                              https://www.wsws.org/en/articles/2021/0 … a-m20.html
                                                                              
                                                                              and
                                                                              
                                                                              https://www.telesurenglish.net/news/Don … -0004.html
                                                                              
                                                                              As the vilified Putin would say:
                                                                              
                                                                              “You are being persistently told that your current difficulties are the result of Russia’s hostile actions and that you have to pay for the efforts to counter the alleged Russian threat from your own pockets. All of that is a lie.”
                                                                              
                                                                              “The truth is that the problems faced by millions of people in the West are the result of many years of actions by the ruling elite of your respective countries, their mistakes, and short-sighted policies and ambitions. This elite is not thinking about how to improve the lives of their citizens in Western countries. They are obsessed with their own self-serving interests and super profits.”
                                                                              
                                                                              Who would know better than Putin, right?
                                                                              
                                                                              Putin is cut from the same cloth and has been rubbing elbows with them for over 20 years. He's no better, but he for sure knows of what he speaks.

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                                                         Fayetteville Fayeposted 2 years agoin reply to this

                                                         He did though.  He released millions of  barrels of oil from the strategic reserve to counteract the economic impact of Russia’s invasion of Ukraine. More supply equals lower prices.  Oil is a global market that works on supply and demand to set prices.  It's not that we are  personally using the oil reserves.   Even though we have enough oil in our own country we're still tied into the global system and if the supply is low in the demand is high We will be subject to the higher prices regardless.
                                                         
                                                         https://www.npr.org/2022/04/03/10904987 … t-the-pump
                                                         
                                                         https://www.wsj.com/articles/why-is-bid … 1637680300

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                                                            Ken Burgessposted 2 years agoin reply to this

                                                            That is somewhat true.
                                                            
                                                            But to the question, the title of the thread "Did Putin really cause America's Inflation"?
                                                            
                                                            The answer is no.
                                                            
                                                            Did Putin invading Ukraine add to our problems?
                                                            
                                                            Yes, but that too, can be blamed largely on Biden.  Its not like Putin didn't warn the US it was coming, didn't meet with various leaders in the YEAR leading up to it telling them essentially: Hey, we want some concessions, and we want an end to the constant sanctions because of Crimea, or we are going to be forced to act.
                                                            
                                                            The invasion didn't happen overnight, it took years to build up to this point, Russia spent a year amassing its troops along the border.
                                                            
                                                            The West just scoffed at Russia and told Putin to F off.
                                                            
                                                            So yeah, Biden gets the blame... he's the one running this Shit Show.  He's the one that said he could do a better job than anyone else as President.
                                                            
                                                            This is on Biden... not Putin.

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                                                Fayetteville Fayeposted 2 years agoin reply to this

                                                Well I think the citizens of Alaska got it right and maybe the rest of us in the lower 48 need to take note.
                                                Alaska residents receive an annual cash dividend from the permanent fund. The fund was established by voters in 1976, as the extent of Alaska's oil and natural gas resources began to emerge, and retains at least 25% of the royalties that oil and natural gas producers pay to produce on leased state lands. Those royalties have provided $800 million or more to the fund annually in recent years. The permanent fund is now worth more than $51 billion, making it the largest trust fund in the United States.

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                        wildernessposted 2 years agoin reply to this

                        About 15% of our food supply is imported.  If our (food) inflation is due to the higher cost of imported it must have quadrupled in price to give the food inflation we're seeing.
                        
                        And if it did that no one would buy it.

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                           Valeantposted 2 years agoin reply to this

                           Overall, yes, 15%.  Some areas are much higher, such as vegetable oils (43%) and meats (27%).
                           
                           An interesting table to show the breakdown:
                           https://www.ers.usda.gov/data-products/ … d-imports/

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                              wildernessposted 2 years agoin reply to this

                              You missed the point.  If inflation on 15% of the supply is responsible for the overall inflation rate of 25% on the entire food supply, then the prices of that 15% had to at least quadruple.

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                                 Valeantposted 2 years agoin reply to this

                                 Wondering where you got a figure of 25% considering costs went up 3.5% for at-home and 4.5% from away-from-home food in 2021.

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                           Ken Burgessposted 2 years agoin reply to this

                           Of that 15% we are talking about Avocadoes, Bananas, Fish... basically nothing that would be coming from Ukraine.
                           
                           You would be far more accurate saying prices are rising because we are in competition with China for what limited resources there are, especially since we export so much of American produced foods to China.

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               tsmogposted 2 years agoin reply to this

               I don't know if true or not with what you predict. I guess we will wait and see.
               
               But, no matter the historical information with the timeline and the tid-bits of info gives a good bird's eye view of history. That educated me, so I am appreciative.

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      Sharlee01posted 2 years agoin reply to this

      Editing my scanty information, my comment lacked facts, and I had meant and thought I had add the link to the headline  ---  Businesses felt the bite from inflation in March as prices for goods and services surged more than expected.
      https://www.barrons.com/articles/inflat … 17?tesla=y
      
      The producer price index, or PPI, rose 11.2% year over year in March on a non-seasonally adjusted basis, the Labor Department said Wednesday. This is the largest increase since 12-month data were first calculated in November 2010, and follows a 10% increase in February.
      
      By Anneken Tappe, CNN Business
      
      US inflation kept moving higher in March and the Producer Price Index is the latest data point showing the price pressure.
      
      The index, which measures what America’s producers get paid for their goods and services on average over time, rose 11.2% in the year ended in March, not adjusted for seasonal swings, the Bureau of Labor Statistics reported Wednesday.
      
      It was the biggest jump in prices since the data series began in November 2010, exceeding analysts’ expectations and the double-digit jumps recorded in the first two months of the year.
      
      Without energy and food, the PPI stood at 9.2% over the same time frame. Stripping out trade services as well, the index increased 7% over the 12-month period.
      
      These numbers show that while energy costs play a huge role in the price spikes, there is still plenty of inflation beneath the surface.
      
      “The end result is likely a big oncoming squeeze in profit margins,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group, in emailed comments. “It’s a good thing earnings season is upon us so we can measure to what extent.”
      
      Between February and March, prices for finished goods and services rose 1.4% with seasonal adjustments. That was more than expected and more than in each of the prior two months. Over half of the increase seen in goods prices was due to a 5.7% price jump for energy products.
      
      Diesel fuel prices rose 20.4%, for example, and the cost of gasoline, jet fuel and electrical power also increased. Fresh and dry vegetables, iron and steel scrap got more expensive, as well.
      
      US oil and gasoline prices soared in March on the back of the Ukraine conflict, which threw a wrench into global commodities markets.
      
      “Not to be forgotten amidst developments over the past month in Ukraine is that domestic supply chain issues in US food manufacturing are making only staggered progress toward resolution. This supply and demand imbalance will also continue to put upward pressure on food prices for producers, and thus US households, in the coming months,” said PNC senior economist Kurt Rankin.
      
      Even after stripping out the more volatile components like energy, food and trade services, March prices on finished goods and services increased 0.9%, the biggest jump since January 2021 and almost twice what analysts were expecting.
      
      Wednesday’s data comes just one day after the Consumer Price Index showed that the cost of consumer goods and services surged by 8.5% year over year, the highest recorded level since 1981.

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   Nathanvilleposted 2 years ago

   And who is to blame for the inflation, Peter Pan? 
   
   Really!!!!  It’s not just an American problem; it’s a worldwide problem, first the pandemic and now the Russian war with Ukraine has caused inflation worldwide – It’s as simple as that.  Unless of course Trump supporters in America, still suffering from sour grapes because they lost the election, want to use it as yet another excuse to bash Biden.
   
   From across the pond, in Britain, the current inflation rate is 7%, and is set to rise higher this summer; and it has nothing to do with Biden, like in the USA it’s all related to the disruption in the supply chains caused by the pandemic (and Brexit in the UK), plus the chronic worldwide natural gas shortages caused by the Pandemic and further exasperated by Putin’s invasion of Ukraine.
   
   So why keep blaming Biden when the whole world is in the same boat?

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      Credence2posted 2 years agoin reply to this

      Thanks for bringing the accurate perspective to the inflation problem: global scale.
      
      There are many here that would blame Biden for a rainy day....

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         GA Andersonposted 2 years agoin reply to this

         Well, he did do the rain dance, didn't he?
         
         GA

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            Valeantposted 2 years agoin reply to this

            It rained somewhere in the US yesterday.  By right-wing logic, since Biden is in the White House currently, it must have been his fault.
            
            That about sums up the depth of the arguments being made by the right currently.

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               GA Andersonposted 2 years agoin reply to this

               Surely you are not expecting an argument. Of course it is Pres. Biden's fault.  Trump wasn't there to do the Sunshine dance.
               
               GA

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   Valeantposted 2 years ago

   The West did not just scoff at Putin, they did offer some concessions.  But Putin is a psycho that wants to see the USSR recreated, so he rejected any compromises. 
   
   And NATO was unified in rejecting Putin's unreasonable demands, so for you to blame solely Biden just shows the same partisanship we see from so many that lean really far to the right on this site.
   
   'Moscow has demanded guarantees that NATO will never admit Ukraine and other ex-Soviet nations as members and that the alliance will roll back troop deployments in former Soviet bloc nations. Some of these, like the membership pledge, are nonstarters for the U.S. and its allies, creating a seemingly intractable stalemate that many fear can only end in a war.'
   
   That you cannot even blame Putin one bit mirrors the pro-Russia propaganda we see from Fox News.

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      Ken Burgessposted 2 years agoin reply to this

      I would be interested to see what concessions they offered, you must have information that is not publicly available.
      
      14/02/22 - Vadym Prystaiko clarified earlier remarks about possibly dropping a bid for Nato membership, saying that Kiev would not reconsider its attempt to join the transatlantic military alliance.
      
      Asked whether or not Ukraine might reconsider its ambitions to join Nato,
      he told the BBC: “No this is not [the case] and I am quite happy that I have this chance to clarify my position.”
      
      Zelensky said, "We are not afraid of anything and anyone" and will not concede anything.
      
      Putin's take:
      
      https://www.cnbc.com/2022/02/01/putin-t … raine.html
      
      This is what is really going on with this war, my take:
      
      The U.S. and its allies (the West) are exploiting Ukraine in a longstanding campaign to bleed Russia of economic and military power.
      
      The war didn't start on February 24th... It started in 2014.
      
      The Russians spent years trying to solve this on a political level, in fact, there were the Minsk agreements, Minsk II, etc.
      
      What triggered the invasion, and what you will NEVER hear about in our American MSM is that Zelenskyy was traveling to Western powers demanding support to retake Crimea and in March 2021 adopted into law the decision to reconquer Crimea by force.
      
      Ukraine had started a build-up of the Ukrainian armored forces in the southern parts of the country and the Russians were aware of this build-up and the intent to take Crimea by force.
      
      On the 16th of February, Ukraine began a massive artillery bombardment of Russian positions in the Donbas region, and this increase in the shelling was observed by the Border Observer Mission of the OSCE (Organization for Security and Co-operation in Europe), they recorded this increase of violation.
      
      So, for the Russians, Putin in particular, that was the sign that the Ukrainian operation was about to start. Personally I think he was goaded into reacting, and making it look like he was a warmongering tyrant, but Putin has been outmaneuvered by the West for two decades now, so this is no suprise.
      
      The Russian parliament (the Duma) passed a resolution to recognize the independence of the two self-proclaimed Republics in the Donbas. Putin did so on February 21. After the law (Russian) recognized the independence of the two Republics, Putin signed a friendship and assistance agreement with those two Republics.
      
      Putin (Russia) did that so that would allow those Republics to ask for military help when Ukraine escalated the conflict. On February  24 when Putin decided to launch the offensive, it attempted to invoke Article 51 of the UN Charter that provides for assistance in case of attack.
      
      But what Putin never realized it seems, not in 22 years, is that the rules aren't meant for him, they are meant to be used against him.  Russia, nor the people of Crimea, nor the people of the Donbas region, even if they all speak Russian, even if the majority of them are Russian and had always been Russian, can decide for themselves to break away from Ukraine.
      
      That's not how the game is played, and that's not what "the West" wanted.
      
      At the end of February, as soon as Zelenskyy indicated that he might be willing to start negotiations, when the negotiations were to take place in Belarus, within hours after Zelenskyy decided that, the European Union (and America) came with a decision to provide for half a billion dollars worth of arms to Ukraine, "the West" worked to prevent a political solution to the conflict, the Russians are aware of that.
      
      The name of the game is weakening Russia, there have been several studies done by the RAND Corporation on overextending Russia... my concern right now is that because of the economic collapse that we are nearing (as a nation and a global economy)  "the West" is going to escalate this into WWIII... every week that goes by with higher inflation, with more destabilization in most of the rest of the world (including China), I think this becomes more likely.

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         Valeantposted 2 years agoin reply to this

         I believe, after looking into your post, that it was a decree about strategies to return Crimea to Ukraine.  But I get your point that Putin would see that as provocation.
         
         Here is where others view the demands by Putin to be non-starters:
         https://www.euronews.com/my-europe/2022 … st-respond

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            Ken Burgessposted 2 years agoin reply to this

            I wrote a few years ago a Hub "Does America Want War With Russia".
            
            In it I wrote the reasons why Russia and the North Pole region have become so important for "the West" to gain control of.  Of course those figures mentioned were from years ago and the value of those resources are significantly higher today.
            
            Ultimately, whether you choose to believe Putin is a warmongering lunatic bent on rebuilding the Russian Empire, or whether you believe "the West" has manipulated and maneuvered its way into forcing this war upon Russia is irrelevant.
            
            The war is here, it grows more likely every day that it will escalate rather than be negotiated into some form of peace.  And it will certainly be used as a political excuse for every bad thing going wrong in our economy.
            
            EDIT/ADD:
            
            https://www.cnn.com/2022/04/17/politics … index.html
            
            So there you go, Russia is not going to give up Crimea or the Donbas regions, and Zelenskyy is not going to give them up either.  So this will continue until one or the other is thoroughly defeated.
            
            My understanding is the bulk of the Ukraine Army is surrounded by Russian forces in the Donbas area, and that Russia pulled its efforts from elsewhere in Ukraine to bolster its forces in that area, and will soon begin the systematic destruction of those surrounded Ukrainian forces.
            
            I expect that Zelenskyy's position (the West) will result in tens of thousands, if not hundreds of thousands, of Ukrainian soldier deaths in the near future.
            
            I think this will lead to the increased involvement of "the West" and this in turn will escalate this into WWIII.  And I suspect some level of nuclear weaponry to be used once it escalates.
            
            I would suggest getting your canned goods stocked up, your water barrels put in place, your backyard garden tended to, and that electric car you were hedging on buying bought... or you might be facing extreme hardships (regardless of how much cash you have stashed away) in the not too distant future.

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   Valeantposted 2 years ago

   Another inflationary contributing factor we have not talked about yet:
   
   https://www.yahoo.com/news/avian-flu-sp … 32245.html

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      Fayetteville Fayeposted 2 years agoin reply to this

      How about Governor Abbott's latest  act of political theater?
      
      Hundreds of millions of dollars worth of fruits and vegetables hauled through the southern border wasted after the new inspection program and ensuing protests caused miles-long traffic jams.
      
      “The damage has been done. I’ve got members reporting that trucks are finally starting to show up that were stuck in those lines for three to five days, and some are saying that product is just unusable, rotten and leaking out of trailers,” said Dante Galeazzi, president and CEO of the Texas International Produce Association.
      
      He has since reversed his policy but He has already caused large supply chain issues.
      
      "Governor Abbott's unnecessary and redundant inspections of trucks transiting ports of entry between Texas and Mexico are causing significant disruptions to the food and automobile supply chains, delaying manufacturing, impacting jobs, and raising prices for families in Texas and across the country"

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   Fayetteville Fayeposted 2 years ago

   We can't ignore the recurring impact of China. They are in the midst of yet another covid shut down. Most manufacturing is at 50% or less. Here we go again with supply chain paralysis.
   https://www.reuters.com/world/china/chi … 022-04-13/
   
   Also, right here in America we have continued political theater impacting inflation through supply.
   Texas Gov. Greg Abbott's truck inspection policy created a logjam at the border that resulted in $240 million of spoiled produce. 
   He has  caused significant disruptions to the food and automobile supply chains, delaying manufacturing, impacting jobs, and raising prices for families in Texas and across the country. Thankfully he has since walked back his stunt.
   When is this madness going to stop?
   These political stunts aren't helping people but politicians don't seem to care.

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      wildernessposted 2 years agoin reply to this

      "When is this madness going to stop?"
      
      Possibly when we get politicians and a President that takes illegal border crossings seriously and does something to drastically slow the flow.
      
      Until then states are left on their own to do what little they can (in the face of federal interference) - Abbot's "stunt" was an obvious response to massive waves of illegal crossings.  It was likely a political response to federal inaction as well.

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         Valeantposted 2 years agoin reply to this

         Odd that you concede that the asylum laws are one of the things causing this mess at the border, but never hold GOP representatives responsible for trying to amend the law, even when they held both chambers of Congress and the Oval Office in 2016.

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