QUESTION: Marty, It was a unbelievable WEC. You tied all of it collectively brilliantly and the way the true concern is that this liquidity disaster. Abruptly the ECB got here out and mentioned that inflation is not going to subside given a recession. It seems they have been watching the WEC. Do you suppose that the ECB is not less than listening now?
NG
ANSWER: For Christine Lagarde to publicly {that a} “delicate recession” is not going to cut back inflation is admitting that inflation has been instigated by COVID lockdowns that disrupted the availability chain and unleashed shortages. The Financial institution of England has come out and acknowledged that we are going to see the longest recession in 100 years.
The ECB has simply compelled banks to repay their loans withdrawing $300 billion euros from the banking system in a determined effort to cease inflation. This is not going to assist for Legarde is aware of that even an financial recession is not going to forestall any such 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 combined with the local weather change zealots decided to finish fossil fuels regardless of the very 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 likely be generally known as the 12 months of chaos.
