Transcript of Interview on The Left Lens with Danny Haiphong May 25th, 2022.
Last month, President Biden rejected the argument that his administration’s policies had caused the runaway inflation now plaguing the economy. In general, holding a president accountable for economic setbacks is unfair. Inflation reflects an imbalance between supply and demand—excessively restricting the former or stimulating the latter will inevitably push prices higher—and it has many causes beyond the designs of any given president.
Today we are witnessing the historic endgame playing out. The current war in Ukraine is but one malignant manifestation.
Europe’s future looks bleak. It is now pressed by its own imposition of sanctions, and the resultant spike in commodity prices. The EU is lumbering around in a daze.