Interestingly, the article never mentions the word Biden, nor Democrats, despite raging inflation eroding the standard of living
As Inflation Stalks Europe, Leaders Shudder
The downfall of Britain’s prime minister served as a warning to all of the political peril that awaits those who fail to address the erosion of living standards, no matter the cause.
The retired women wheeled their canvas shopping carts to the fresh pasta counter of an outdoor market in Rome this week and commiserated about how the price of tagliatelle, oranges, napkins, utility bills — you name it — had gone through the roof.
“Prices have gone up on everything,” said Simonetta Belardi, 69, a self-described leftist who argued that while inflation whittled away her savings, it also wore down her support for Ukraine in the war that many across Europe blame for the astronomical costs. She was no fan of Russia, she said, but the time had long passed for an end to military support for Ukraine and a shift to diplomatic negotiations for peace. She said more and more people she knew, in need of economic relief, were losing their patience, too.
“All they want is arms, arms, arms,” she said of Ukraine. “I’m sick and tired of them.”
It is a sentiment — impatience, even inchoate anger, at the inflation fueled by the war — that transcends the shoppers in Rome’s piazzas and can be found among the weekly protests in Germany or in the swelling ranks of French strikers. And it has leaders nervous.
A bit of gaslighting, since the primary cause of inflation was China’s coronavirus. Then you get into issues like printing too much money, spending too much as the economies were re-opening, passing bills that do nothing to address inflation but put more money into economies, overheating them. And then Biden baiting Putin into invading Ukraine
While Britain’s economic tailspin was largely self-inflicted by unfunded tax proposals, the resignation on Thursday of Prime Minister Liz Truss sent perhaps the clearest signal yet that political peril awaits those who fail to address inflation and the erosion of living standards, no matter the cause.
The situation is arguably even more dire on continental Europe. The annual inflation rate in the European Union is now at its highest in decades — 10.9 percent in September, up from 3.6 a year earlier.
A big driver is their lack of energy, mostly fossil fuels, which drives up prices.
That is worse even than in the United States or Britain, and it is being driven largely by the bloc’s unique and anguishing withdrawal pains as it tries to punish Russia’s president, Vladimir V. Putin, for his invasion of Ukraine by quitting its long dependence on cheap Russian gas.
Remember when they laughed at Trump for saying they were too reliant on Russia for natural gas?
Mario Draghi, the departing prime minister of Italy and an architect of the continent’s united line against Russia, warned as much would happen if Europe failed to reach a deal to cap prices on the alternative gas imports.
Spiraling energy costs, he said in a speech at the United Nations in September, would be something that “puts at risk the economic recovery, limits the buying power of families and damages the production capabilities of businesses.”
That’s what happens when you legislate away fossil fuels, coal, and nuclear power, ones that are reliable, dependable, and affordable. But, the Elites really do not care, because it doesn’t affect them, they’re rich. But, it does harm the working and middle class
That moment, it seems, is arriving as strikes and protests over the rising cost of living proliferate, ushering in a period of social and labor unrest not seen since at least the 1970s.
But, are the politicians and Elites listening? Most aren’t. They look like this
https://twitter.com/JoeT888/status/1583073944428388352
It’s no wonder the Times doesn’t want to discuss Biden and the Democrats, because they are beyond out of touch, and just do not care.
Read: NY Times: UK Prime Minister’s Downfall A Warning To Leaders Who Fail To Address Inflation »