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NL inflation 12% !

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Dutch Josh View Drop Down
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    Posted: April 01 2022 at 3:38am

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Prices in the Netherlands have risen extremely fast since the outbreak of the war in Ukraine. According to Statistics Netherlands (CBS), inflation rose to 11.9 percent last month. In February, it was still just over 7 percent.

The stats office released the figure in anticipation of the announcement of eurozone inflation by Eurostat later in the day. The figure is based on the European harmonized method, created to allow a comparison of inflation data from different European countries. The calculation differs slightly from how Statistics Netherlands usually calculates inflation. These regular figures will be published next week.

Inflation in the Netherlands has been around the highest level in decades for some time now. Energy and fuel prices were already high even before the conflict in Ukraine. This is partly due to the rapid economic recovery from the coronavirus crisis, which created scarcity for many of many raw materials and also personnel in certain sectors. 

The Russian invasion of Ukraine subsequently boosted prices even further. Since then, the oil and gas markets have been very concerned that the fuel supply from Russia could dry up. And because energy is becoming even more expensive, many other products are also increasing in price. Energy is needed to manufacture goods. Companies pass these higher costs on to consumers.

The Dutch government has already implemented measures to ease the pain for Dutch consumers. On Friday, a reduction of excise duty on fuel took effect, which means that motorists will pay less to fill up their cars. But this kind of support cannot wholly prevent Netherlands residents' purchasing power from declining this year, Prime Minister Mark Rutte has already warned.

DJ Most other EU countries may be in the same region for inflation-or even do worse...

Related [url][/url] or ;

As recently as 2014, following the “annexation” of Crimea, Western sanctions were tame compared to the recent unprecedented measures, but crucially the US massively increased its own oil production, then later that year (following a visit by US Secretary of State John Kerry) Saudi Arabia did the same.

Despite objections from other members of OPEC – Venezuela and Iran chiefly – the Saudis flooded the market with oil.

The result of these moves was the biggest fall in oil prices for decades – collapsing from $109 a barrel, in June 2014, to $44 by January 2015.

This kicked Russia into a full recession and saw Russia’s GDP shrink for the first time under Putin’s leadership.

Again, just two years ago, allegedly as part of competing with Russia for a share of the oil market, Saudi Arabia once more flooded the market with cheap oil.

So, the West does know how to hurt Russia if it really wants to – by increasing oil production, flooding the market and tanking the price.

But has the US increased its oil production this time round? Have they lent on their Gulf allies to do the same?

Not at all.

In fact, in a point of beautiful narrative synchronicity, the US claims it’s “unable” to increase its oil production due to “staff shortages” caused by that gift that keeps on giving – Covid.

Similarly, Saudi Arabia is not tanking the oil market, but deliberately increasing prices.

Yes, right now, with the Western allies locked in an alleged economic war with Russia the price of oil is soaring, and may continue to do so.

This is good news for the Russian economy, to the point it may even make up for the damage done by the brutal sanctions.

The high price of oil and need “not to rely on Putin’s gas” or “de-Russify” our energy supply will doubtless result in millions being poured into “green” technology.

Those Western sanctions are targeting other Russian exports too, including grains and food in general.

Russia is a net exporter of food, meaning they export more food than they import. Conversely, many countries in Western Europe rely on imported food, including the UK which imports over 48% of its food supply.

If Europe refuses to buy Russian food, the net effect is that Russia has food…and the West doesn’t.

And, just as with oil, increasing food prices will help rather than hinder the Russian economy.

DJ, So because of sanctions;

-EU moving towards hyper inflation

-Russia now wants Rubles to be used for energy, food

-Russian economy may get a "double boost", not only is the price for energy and food-both Russian exports-going up...But also by no longer accepting the Euro or US Dollar the value of those currencies may drop...

-On top of that Ukrainans being welcomed in Europe [url][/url] or  resulting in Ukraine selling its passports to who ever wants them...Men claiming to be over "they could escape from Ukraine"...but look very non-Ukraine-like...

Has the West gone full self destruction ????

Latest news indicate Ukraine targetting (with some help ???) Russian oil installations only making matters worse ! [url][/url] or 

We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein
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