Isn't something that changes due to events, public and political debate, a kind of tradition — ChatteringMonkey

Not in my view:

tradition = the transmission of customs or beliefs from generation to generation, or the fact of being passed on in this way.
=an inherited, established, or customary pattern of thought, action, or behavior (such as a religious practice or a social custom)

Moral constructivism is not saying all tradition is ethics either, but that what is ethical or moral is determined by societal traditions... those traditions would be larger than merely ethics or morals strictu sensu, but do include them. So maybe we don't really disagree. — ChatteringMonkey

The ethics that we share with our ancestors hundreds of years ago is surely what we would now call a tradition (cultural or religious etc). Yet we can notice that even in our (short?) lifetimes nuances have changed in what is ethical. And those changes we cannot say are from a tradition. So I don't think we have a real disagreement here.

The argument against tradition as morality is typically one in which morality is seen out of it's historical context (slavery is morally bad regardless, always, everywhere), and therefor contrary to what you seem to be saying, 'unchangeble' or absolute. — ChatteringMonkey

I'm not saying that. Both can change.

What I'm saying is that they aren't so interdependent as to say ethics = tradition. Ethics can change due to events, public and political debate about ethical issues and changes in the society. That doesn't mean that ethics are linked to traditions of the culture and society.

LONDON, June 27 (Reuters) - Russian hacker group Killnet claimed responsibility on Monday for a DDOS cyber attack on Lithuania, saying it was in response to Vilnius's decision to block the transit of goods sanctioned by the European Union to the Russian exclave of Kaliningrad.

"The attack will continue until Lithuania lifts the blockade," a spokesperson for the Killnet group told Reuters. "We have demolished 1652 web resources. And that's just so far."

NATO needs a more “visible” presence in the Baltics to counter the threat Russia poses from Belarus, Lithuania’s President Gitanas Nausėda warned on Friday.

Speaking ahead of the summit, Nausėda told POLITICO that “very huge fundamental changes” in neighboring Belarus make Lithuania more vulnerable to a quick Russian attack — and necessitate a shift in the region’s security arrangements.

First Kallas of Estonia, now Nauséda of Lithuania worried about the situation.

Still on the level of "usual stuff happening in the Baltics with Russia" in my view.

Perhaps needless to say, but for Japan after the devastating and utter defeat in WW2, there genuinely was a perfect reason for the whole country collectively to rethink just what traditions are really worth wile to uphold in the new situation. The Samurai mentality and Bushido wouldn't be the best ethical traditions to build the post-war Japan.

Ethics can obviously change, hence ethics ≠ traditions.

I think this bizarre incident of Yukio Mishima's actions is a perfect example how some conservatives are totally blind to reality and see cultural decadence and erosion of values when societies and manners in them change. They are fixated in the past and if the present doesn't look like the past, they think all is lost. It's a common view, although Mishima went to the extreme.

If I remember correctly (so correct me if I'm wrong), Mishima did seppuku after the JSDF soldiers, that he thought he would inspired to join him, simply mocked and laughed at him. And what else was he than a eccentric lunatic? The real failure is to think that those JSDF soldiers weren't patriotic or didn't hold Japanese heritage in high value. Likely many of the officers and NCOs in the JSDF and earlier in the National Police Reserve were WW2 veterans, just like those in the new Bundeswehr in Germany. But it wasn't the Imperial Japan of before anymore.

Mishima actually hadn't served in the Imperial Armed Forces of Japan and hence didn't participate in WW2, an experience that usually would make people see the realities of those ideals Mishima so much upheld. Now the dismissal on medical grounds gave him an inferiority complex.

From last Thursday:

Chairman Jerome Powell has said that US government debt is on an 'unsustainable path' while admitting that he underestimated the threat of inflation and warning that a recession is possible.

Powell's remarks came in testimony before the House Financial Services Committee on Thursday, as the powerful Fed chair wrapped up a second day of appearances on Capitol Hill.

'The US is on an unsustainable fiscal path, meaning the debt is growing faster than the economy,' said Powell. 'By definition, that is unsustainable.'

The Congressional Budget Office (CBO) estimates in it's latest report that this year total federal revenue will be 4,8 trillion and the deficit that was 2,7 trillion last year (and earlier in 2020 basically as large as the total revenue) will be just be one trillion. Yet they (the CBO) also forecast that there won't be any recession.

America orchestrated regime change, — Isaac

There's a difference between supporting a regime change and orchestrating one. Sorry, but this revolution doesn't look like some "Operation Ajax". You don't have anything else to say on this, but the facts already know and discussed earlier.

And that revolution was in 2014. Several elections have gone, several administrations have gone and we have the new special military operation that started this February.

So you keep saying, — Isaac

So did Putin say. Period. End of story.

Just move on...

If your point is that American pandemic payouts have now devalued the dollar, I don't think it works that way. — Tate

Devaluation (or revaluation) of a currency is a different thing. Remember that other countries had similar policies as the US and in many cases the US dollar / US markets are thought to be the most safest (still).

Right— and it’s complete nonsense. Anyone who buys into that really just hasn’t looked into the matter closely enough. — Xtrix

I agree. Those who get the money before the inflation kicks in are the real winners. And usually the wage earners are the last to demand higher compensation due to the higher prices. Yet there's ample amount of literature of wage inflation.

But even if it's nonsense, it's politically quite convenient. Just as is the idea that high inflation ought to be best fought by lowering salaries!

No, I didn’t say inflation is a talking point— I said attributing inflation to raising wages and handing out stimulus checks is a talking point. — Xtrix

With inflation, wage increases are usually viewed as the bad guy. And of course the government did basically shut down businesses during the pandemic, so the stimulus checks should be a truly exceptional case. The real question is will they be so exceptional.

And then there is the question government finances. Which looked like this in 2020.



So that was the "exception". How does it look now? Does it look like the 2020 budget?

Yes. The historical record is absolutely clear on this. Without legitimate-sounding excuses, invasions do not occur. Haven't done for decades. — Isaac

Seems like your blaming the rape victim for dressing too promiscuously. Oh yes, a decent outfit would have saved the beautiful young girl from being raped! And let's not talk about the rapist as that's irrelevant because everybody knows he's a rapist that lurks in the park.

So if you think a known mass murderer has a gun, it's OK to sell him another? After all, he's already got a gun, so no harm making a profit out of his murderous intent, yes? — Isaac

Let me get this right. Ukraine wanting to join NATO, and NATO saying something "OK...in the future" as they said, is equivalent of giving a gun to a known mass murderer?

So independent countries wanting to join a defense treaty to protect them from an attack is wrong?

And really, if someone says that one landmass and it's people are an inseparable part of their country and that is has been a huge historical injustice that they and the landmass has been separated from their historical and cultural home, I think there is really enough excuses to start a war with or without blaming the evil Americans.

Because they’ve been screaming about debt and inflation for decades. A broken clock is right twice a day. — Xtrix

Some have, that's true. I do know those permabears. They have their niche audience, just like every perma-something or conspiracy theorists has. And if they change their minds, oh boy, their audience will revolt!

(I only really listen to those that can truly change their stance from bearish to bullish. Those who acknowledge that basically the fiat system can go on for decades and even our lifetime, even if it could crash also.)

All this is, in the end, is a conservative talking point. It’s an excuse to ignore supply-side issues like line distributions, price gouging, profiteering, and oligopoly. Rather they want us to believe it’s because some poor people got $1200 bucks and wages increased by 4%. Give me a break.

Complete bullshit. — Xtrix

But if you think inflation is just a conservative talking point, which I would correct it is when the conservatives aren't in power, then there is not much else for you to contribute in this thread.

What I've learned that usually economists of different school do have a point. Something that is true and should be thought about. Yet likely they miss something else also. Hence there aren't economists or economic schools that are RIGHT and others that are WRONG. But many do have this idea, especially when politics comes to the picture. They will have their real economists and others being the phony ones. And basically the whole issue becomes a political fight, perhaps part of the culture war. And then what people hear are only supposed dog whistles.

The point I'm making is that whether Putin wants to annex Crimea, Ukraine (or Moldova, or Lithuania...) is entirely irrelevant to us. — Isaac

Or irrelevant to you. Then why on Earth continue this debate?

What matters is whether he's actually going to try. — Isaac

Well, in the case of Crimea and now in Donbas, I think this should be clear even to you.

So if we want to limit the horrors of war, don't provide excuses to tyrants. — Isaac

Oh that would make him change his mind? If we didn't give him excuses?

I think it's quite obvious that Putin had excuses / justifications / reasons to invade Ukraine irrelevant to NATO / EU / The West.

Again— inflation was predicted after all the spending in 2009. Didn’t happen. — Xtrix

After the bursting of a speculative housing bubble inflation won't pick up as the bubble bursting is highly deflationary. Banks and the financial sector are the ones in focus and they won't continue lending as they did before. And the inflation the QE created basically went afterwards to asset inflation, to refilling the bubble.

3 years later, inflation happens after an unprecedented global pandemic — inflation that’s occurring all over the world — and the same believers say “See? Told you so.” It’s simply nonsense. — Xtrix

Why do think so?

When did I say there wasn't and Old Right ...or those who are against the New Deal? There are those even today

I don't dispute there being an "Old Right". What I'm disputing is the idea that the Keynesians and those who pushed for the New Deal weren't part of the elite. They were, and are, also.

True, it wasn’t 100% solidarity. No kidding. — Xtrix

Like in 1971 Nixon saying that he is now a Keynesian? When especially Keynesianism is one of the most successful economic schools of all time, the idea of Keynesianism/New Deal -thinkers vs. the elites just sounds a bit strange.

I dunno how fertility rates are calculated. If I'm correct it uses birth rates in the population and that in all likelihood ignores abortions and miscarriages that should appear in their very own categories. In other words, fertility rate ain't the whole story if you catch my drift. — Agent Smith

Let's put things into context: In the US in 2017, the abortion rate stood at 13.5 abortions per 1,000 women. Which means, as obviously someone can have more than 1 abortions, that lower than 1,35% percent of women have abortions. The fertility rate is an estimate the average number of children that a woman would have over her childbearing years (i.e. age 15-49), based on current birth trends. When the fertility rate in the US is 1,75, means that wome 15-49 have on average 1,75 children.
Something little under one fifth of women (18%) are childless, which means the vast majority of women do have children.

Hence the issue of population growth are depended on a lot of other things than abortions, which affected every 100th woman or so. And when some states will have legal abortions, the impact at least to issues like population growth is minimal if non-existent.

That's not controlled by the US, though. The whole global economy is doing that, much of it by the will of the Chinese. — Tate

Not actually. There's no alternative now for the US dollar. For now.

Basically the US just can fuck up and have the dollar lose it's status as the reserve currency. It's not like the World's countries will choose an alternative system. It's just that they will have to admit that the system doesn't work anymore. And only the Americans themselves can mess things so badly, if they want.

Good way to do that is to send those stimulus checks again for the people and just spend, spend and spend. It's totally possible to wreck the dollar, but will take a lot of work!

With Roe vs. Wade squashed, we should expect a population explosion in the US in the coming few decades. — Agent Smith

Between the defunding of social security, healthcare, daily mass shootings, and uncontrolled climate change (all Republican priorities), I kind of doubt that. — Mr Bee

Fertility rate goes actually down when people get more prosperous and the fertility rates have gone steadily gone down around the World. Abortion bans mean quite little, actually. Only something as crazy as ban on contraceptives might have an effect.

And anyway, this decision just separates the US states even more. I really doubt that California or Washington State would dramatically change their abortion laws now.

I’m not stereotyping, nor do I consider the ruling class enemies. — Xtrix

Well, just who are you talking about. I think Roosevelt and the democrats of that era were part of the ruling class. With any class of people, you obviously have totally opposing views and not so much actual solidarity inside the class, let alone one agenda that everybody agrees to.

But this is going a bit off the topic...

A lot of Americans feel the same way. 'Let it all go up in flames and start over, or not even that, just let it all be ended'. It's the nihilism Olivier5 was talking about in the Ukraine thread. — Tate

Ah, the decadence of the West!

Well, both Americans and we foreigners likely don't understand just how much of that wealth and awesomeness of the US economy is based on the position the US dollar enjoys.

Yet why we have now (and will have in the future) high inflation is because finally the MMT (Modern Monetary Theory) experiment has been done, and it's effects are to be seen now. Here's a perfect example of the MMT thinking:



It should be noted that Kelton as supporter of MMT does say the obvious, that with deficit spending the real limit is inflation (or in the end, basically the trust in the currency). But as we know, we have a lot of excuses for inflation to be "transitory": the war in Ukraine and Putin, supply shortages and, why not, even climate change. Anything else but that deficit spending by our governments.

They believe they lost power during the New Deal era, and were under threat in the 60s. There’s some truth in that. — Xtrix

Some, but only partly.

I think the problem is that there's a huge difference in the actual policies and objectives which one side has and what the other side portrays these objectives to be. Just "who" these people are is a genuine question as people just love the stereotypes they create of "the other" as the enemy.

Joe Manchin isn't looking so stupid all of the sudden. — Tate

I've not followed what he has said. And I think the real problem is that into this issue will also be engraved the political mudslinging, the "culture war" or whatever you will call the feuding by the two parties in the US. Just to talk about the issue, or any issue close to this, will immediately treated as some kind of dog whistle if one or the other side talks about the issue enough. And then... no more of any kind of educative debate about the issue.

The only fairly universal guideline is that those not in opposition and not power can talk about the problem clearly while those in power have to handle the issue.

Hence, it's not at all surprising that who has talked about the issue most clearly is Vladimir Putin: he genuinely has nothing to lose on this, and will be happy about the possible demise of the dollar / the Western financial system.

Never. — Xtrix

Exactly.

And the real problem is that these elites don't even change so much.

It's "a monumental day for" regressive conservatism, religious sentiments being imposed upon others apparently, no mention of sober bioethics either. — jorndoe

I wonder what the reaction would have been if a Republican would be in the White House.

We'll see if they repeat it or learn from the lesson. — Tate

Learn just what?

Actually the real interest hikes happened in the 1980's. Paul Volcker was the Fed chief in 1979-1987.

Here's the fed funds rate along with the CPI from that time:

Now, just look how scary it looks just now. Rates are nowhere close to confine the inflation.

This time I think they will let inflation run wild. There's enough scapegoats around and simply the Fed is between a rock and a hard place.

A lot of people will be poorer in the future than now.

That the policies will be of "relief", "stimulus" and "assistance" is quite clear. Just look at how Biden tries to engage with high fuel prices:

Interesting and educational, thanks!

. It’s a commitment to taking power “back” from the New Deal era, returning it to its proper place: to the elites. — Xtrix

Since when have the elites not had the power?

This isn't only an US problem.

This is a global problem.

When Paul Volcker raised the interest rates above the inflation rate, I guess the US debt to GDP ratio was something like 13%. Now it's over 130%. That's a big difference when the central bank ought to raise interest rates so that the real interest rates aren't negative. Or anything close to that.

Now the Fed funds rate is 1,75% and the inflation rate 8,6%. That's highly negative.

In fact, Japan is already in this quagmire: they simply cannot have higher interest rates or the government will have real problems.

I have no idea how long this will last.

My point was that Crimea being (historically, ethnically etc) part of Russia was very important in the rhetoric/excuses.

But enough of this. said the obvious about this whole issue. So let's move on.

Stagflation, here we come. — Tate

Indeed.

I bet in the fall if this thread doesn't pick it up, someone else will start a thread about stagflation.

Come on! You're becoming ridiculous. — Isaac

The legality of the "full compliance with democratic procedures and international law norms" seems quite in line with the Stalinist rhetoric during the Winter War. And with Stalinist rhetoric in general:

The referendum unsurprisingly produced a Soviet-style result: 97 percent allegedly voted to join Russia with a turnout of 83 percent. A true referendum, fairly conducted, might have shown a significant number of Crimean voters in favor of joining Russia. Some 60 percent were ethnic Russians, and many might have concluded their economic situation would be better as a part Russia.

It was not, however, a fair referendum. It was conducted in polling places under armed guard, with no credible international observers, and with Russian journalists reporting that they had been allowed to vote. Two months later, a member of Putin’s Human Rights Council let slip that turnout had been more like 30 percent, with only half voting to join Russia.

(See here)

Besides, many also were extremely happy when the Sudetenland was taken from Czechoslovakia also...a perfect example of similar "justified" actions?

I just meant they borrow it, they don't print it. Maybe that's not an important distinction? — Tate

No, it isn't an important distinction. With money printing I don't mean the actual printing of money, although they do that too.

Let's just listen to what the actual chairman of the Federal Reserve says about this:

Excuses were - Russian-speaking population, oppression of language, NATO risk to warm-water port access. — Isaac

Your again wrong, Isaac. With Crimea, it was viewed as an inseparable part of Russia, which had no right to be part of Ukraine. Putin stated it quite clearly.

From his speech in 2014:

Colleagues,

In people’s hearts and minds, Crimea has always been an inseparable part of Russia. This firm conviction is based on truth and justice and was passed from generation to generation, over time, under any circumstances, despite all the dramatic changes our country went through during the entire 20th century.

After the revolution, the Bolsheviks, for a number of reasons – may God judge them – added large sections of the historical South of Russia to the Republic of Ukraine. This was done with no consideration for the ethnic make-up of the population, and today these areas form the southeast of Ukraine. Then, in 1954, a decision was made to transfer Crimean Region to Ukraine, along with Sevastopol, despite the fact that it was a federal city. This was the personal initiative of the Communist Party head Nikita Khrushchev. What stood behind this decision of his – a desire to win the support of the Ukrainian political establishment or to atone for the mass repressions of the 1930’s in Ukraine – is for historians to figure out.

So no, excuses weren't supporting separatists autonomy', or 'repelling NATO', or 'supporting legitimate governments against foreign intervention',... and so on. Something to be an inseparable part of Russia makes it quite clear. Or perhaps you haven't listened to Apollodorus, who has promoted the idea that Russia has the most justification for Crimea.

Ha! Take a country's history all the way back to 1939 and the example of naked land-grabbing you come up with is still Russia. They really have become bogeyman number one haven't they? Do you recall any other land grabs by any other countries in 1939? anything spring to mind? — Isaac

Oh! You really think that the Winter War was an example of naked land-grabbing? But somehow you do not notice the totally similar playbook, do you?

Likely Stalin would have declared the Soviet Army peacekeepers just coming to help the Democratic Republic of Finland in a "special military operation", if that would have been the rhetoric of the time. For the Soviet soldiers it was promoted as a parade march to liberate the Finnish workers from their evil capitalist controllers. And Finnish Democratic Republic was just like the Donetsk and Luhansk People's Republics. This has been played from the same playbook in Georgia, Moldova and now in Ukraine. Just with different outcomes.

I don't think the US government prints a lot of extra money. — Tate

When the Federal Reserve doubled it's monetary base from September 2020 to December 2021, you think that isn't a lot of extra money?

Sure...the people need those COVID money transfers when prices have risen...:snicker:

They sell treasury bonds to pay for things like the COVID response. — Tate

That was then bought by the Federal Reserve, right.

It's not the foreigners who have continued to buy it:

It basically is the question just how credible is the deterrence of NATO in the end. Or the US. We do have to remember that CENTO or SEATO don't anymore exist.

Now, in the case of Estonia, they've likely noticed that not all US politicians would come to their help. From some years ago:



Hopefully the current dispute with Lithuania and Russia don't grow, but we'll see what the Russian response will be.

Interestingly, Morocco is set to consolidate its position on the fertilizer market in Africa. Building on their natural phosphate deposits they are exporting to sub-saharian Africa but also building fertilizer plants there, and even contributing to agronomic research and extension about optimal fertilizer dosages etc. — Olivier5

I think Morocco has three quarters of the reserves of phosphate rock in the world, so it's no wonder. Yet the real issue is to have a robust efficient and up-to-date chemical industry. And that, as is the problem for many Third World countries, isn't so easy to create.

I’m not denying that pumping a lot of money into the economy has no role to play; it certainly does. But when looking at the current situation it seems that supply issues are playing a bigger role. — Xtrix

Well, this is the point I really look forward to have a discussion.

How long should you believe this "supply shock" argument? How long people believe the "Present inflation is just transitory and will quickly go away" argument?

Before it was Covid. Fine. But now?

War in Ukraine? Really? I think Daniel Lacalle's argument is convincing:

The Ukraine war has created another excuse to blame inflation on oil and natural gas. However, it seems that all those who blame inflationary pressures on commodities continue to ignore the massive price increases in housing, healthcare, and education, as well as in goods and services where there was evident overcapacity. Global food prices show a similar problem. The United Nations and Food and Agriculture Organization Food Price Index has been rising steadily and reached all-time highs even before the covid crisis.

Oil and gas will be used as an excuse for inflation as long as low interest rates and massive currency creation remain. But the reality is that when both deflate somehow, the problem of currency debasement will remain.

Inflation was already higher than the CPI measure suggested before the covid-19 crisis. The rise in the prices of non-replicable goods and services, shelter, healthcare, fresh food, and education was significantly higher than the CPI percentage. According to Deutsche Bank, these were rising up to five times faster than the CPI. There was high inflation in the things that we consume every day even in the days when some said there was “no inflation.”

So the real issue here is what are the real reasons and what are just consequences. And are we actually blaming consequences. With high inflation in the present, usually that happens. Yet history and economic history point the finger on government policies.

This is an important issue, actually.

With the Baltics, first it was that the states just became NATO members.
....without anything else being done.

Then actual warplans were made to defend them, sort of.
.....without actual exercises.

Then actual exercises were held with trip-wire troops deployed.
.....without asking what then.

And now Kallas is asking the obvious. If NATO in the Baltics is just a tripwire.

This is the fundamental question IF you don't have anything else but the nuclear deterrence: what if Putin moves the border just 500m in the Suwalki gap? Is that enough to use nukes?

The funny thing is that this kind of tactic has been used literally. Even the Grand Tour found this amazing 'moving border'.



Yep. It does. Ruins that already precarious markets for the local farmers. But who cares about that.

Obviously. Hence: kindly drop dead unless you're willing to pay us. — Streetlight

Well, when they do start dropping dead in a great famine in the Sahel or somewhere else, the Europeans (and Australians too) can show their immense benevolence and generosity by sending them food aid. :halo:

Or likely that fertilizer plants in Africa would be dangerous competitors to European fertilizer plants. Not only the salaries would be lower, but also the transportation costs would be lower.

But moving on to another issues...

What is interesting and a show of good political moves from Russia is the defense of the ruble. After the initial plunge, it has strengthened prior to the war.



It's worth wile to look at what are the reasons for this. Yes, Russian companies had to change the foreign currencies to rubles, yes you cannot freely convert them and there are many restrictions. However this isn't the reason. The reason is basically that anybody needing rubles is basically buying them for gas, oil and other natural resources. There isn't the usual currency market casino operating with the ruble anymore. In fact, Russia has gone partly to a gold standard:

The Central Bank of Russia has announced that “In order to balance supply and demand in the domestic market of precious metals, the Bank of Russia will buy gold from domestic credit institutions at a fixed price of 5,000 Russian rubles per gramme from 28 March to 30 June 2022. The established price level makes it possible to maintain a stable supply of gold and smooth functioning of the gold mining industry in the current year. After the period specified, the purchase price of gold can be adjusted taking into account the emerging balance of supply and demand in the domestic market.”

(See Russia Positions Itself To Move The Ruble To A Gold Standard)

So basically buyers of Russian gas and oil can buy with gold the rubles they need. Now linking your currency basically to natural resources that the World needs seem to be an answer, especially when the other side is printing money at enormous quantities. And this hasn't gone unnoticed by Vladimir Putin. The accusations that the global inflation is because of the war are in my view flimsy, and here I have to agree with Putin.

Putin's speech from June 17th 2022, at theSt Petersburg International Economic Forum:

Surging inflation in product and commodity markets had become a fact of life long before the events of this year. The world has been driven into this situation, little by little, by many years of irresponsible macroeconomic policies pursued by the G7 countries, including uncontrolled emission and accumulation of unsecured debt. These processes intensified with the onset of the coronavirus pandemic in 2020, when supply and demand for goods and services drastically fell on a global scale.

This begs the question: what does our military operation in Donbass have to do with this? Nothing whatsoever.

Because they could not or would not devise any other recipes, the governments of the leading Western economies simply accelerated their money-printing machines. Such a simple way to make up for unprecedented budget deficits.

I have already cited this figure: over the past two years, the money supply in the United States has grown by more than 38 percent. Previously, a similar rise took decades, but now it grew by 38 percent or 5.9 trillion dollars in two years. By comparison, only a few countries have a bigger gross domestic product.

The EU's money supply has also increased dramatically over this period. It grew by about 20 percent, or 2.5 trillion euros.

Lately, I have been hearing more and more about the so-called – please excuse me, I really would not like to do this here, even mention my own name in this regard, but I cannot help it – we all hear about the so-called ‘Putin inflation’ in the West. When I see this, I wonder who they expect would buy this nonsense – people who cannot read or write, maybe. Anyone literate enough to read would understand what is actually happening.

Russia, our actions to liberate Donbass have absolutely nothing to do with this. The rising prices, accelerating inflation, shortages of food and fuel, petrol, and problems in the energy sector are the result of system-wide errors the current US administration and European bureaucracy have made in their economic policies. That is where the reasons are, and only there.

(See here)