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QUESTION: Marty, It was a implausible WEC. You tied all of it collectively brilliantly and the way the true situation is that this liquidity disaster. All of the sudden the ECB got here out and mentioned that inflation won’t subside given a recession. It seems they had been watching the WEC. Do you assume that the ECB is a minimum of listening now?
NG
ANSWER: For Christine Lagarde to publicly {that a} “delicate recession” won’t cut back inflation is admitting that inflation has been instigated by COVID lockdowns that disrupted the provision chain and unleashed shortages. The Financial institution of England has come out and said that we are going to see the longest recession in 100 years.
The ECB has simply pressured banks to repay their loans withdrawing $300 billion euros from the banking system in a determined effort to cease inflation. This won’t assist for Legarde is aware of that even an financial recession won’t stop this kind of inflation that’s extra akin to the STAGFLATION of the ’70s the place prices rose because of the OPEC disaster and the place now we have the COVID Disaster that created shortages blended with the local weather change zealots decided to finish fossil fuels regardless of the actual fact there are not any options. How do you even make metal with out coal?
All the pieces is now unfolding on schedule. We face 2023 which will probably be often known as the 12 months of chaos.
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