United States – Soaring Inflation

June 10, 2022

United States – Soaring Inflation

Padmini Arhant

The soaring inflation beginning with gas price at $7.00 and higher having domino effects on food and other essential goods and services is a burgeoning issue for people living with pay check to paycheck and those with meager savings in the economy.

There appears to be no immediate relief in easing skyrocketing inflation hurting consumer base again directly affecting business sectors in the economy.

The federal reserve inflationary control measures and government economic policy if at all any are yet to deliver necessary correction in inflation reminiscent of 70’s energy crisis leading to severe economic downturn.

The war in Ukraine brought upon Ukrainians from the western viz. United States and EU insurrection against then democratically elected government in 2014 is the result of deaths and devastation in the battle ground combined with nuclear threat from Russia.

The energy crises resulting from the ongoing war in Ukraine and further hindrances in food supply viz. wheat, soy, sugar etc. from Ukraine and Russia to other parts of the world have dramatic impact on the domestic and global economy.

Meanwhile, the global demand on crude oil now largely resting on the oil producing nations in the Middle East and others like Venezuela with sanctions on Russian energy imports only applicable to non-western nations is nothing new.

The Russian energy flow into western Europe such as Germany, Austria and Finland to name a few besides EU and NATO ally Hungary having categorically rejected the sanctions protocol claiming similar  scenario on meeting domestic requirements as priority are not only double standards but also reflect paradoxical western position in funding the Ukrainian invasion.

Amid these contradictory rules and activities, the energy price at the gas stations are record high in history taking toll on average and middle class already enduring economic pain from COVID and at present forced to contend with excruciating inflation in the absence of positive economic trend.

The market reaction and performance lately with Dow Jones dropping 700 points along with S&P 500 and NASDAQ precipitous slide are clearly indicative of inflation and lack of prudent economic solutions behind the present serious nonetheless preventable decline.

There is an urgent requirement for pragmatic and economically viable interjections to contain rising inflation in conjunction with diversifying energy resources improving and increasing energy distribution for affordability across the economy.

Unfortunately, there are no information or strategies made publicly known from the relevant monetary and fiscal authorities to ease growing concerns and frustration among consumers dealing with extraordinary economic struggles since COVID related shutdown and ongoing inflation debacle.

Obviously, the critical topics are inflation and energy price that are interlinked with a strangle hold on people especially in the middle and lower income groups deprived of any options in the economic strife leaving the poor and the poorest status abysmal.

What is the government plan of action on surging inflation?

What are the remedies pursued by the federal reserve other than interest rates hike with stagflation projected in the global economy?

What are the immediate possibilities to calm the inflation storm, energy costs, boost employment  opportunities, stabilize economic conditions across the spectrum and last but not the least soothe investor apprehensions in the volatile economic climate?

The Ukraine war must end with Russia’s divestment in economy over expansionism via military aggression exceeding 100 days in Ukraine. The only guaranteed outcome benefitting both sides i.e. Russia and Ukraine is permanent ceasefire and peaceful dispute settlement on all matter. The military engagement is proved counterproductive and exacerbated resources, morale and human lives with irreversible tragedy.

The western foreign policy engineered towards diplomacy and dialogue in ending Ukraine war is pertinent to global peace, security and economic recovery.

The economic factors such as inflation and energy rates at the gas pump are the burning issues for ordinary men and women representing the work force, consumers and tax payers in the economy worldwide.

Suffice to say those behind gain of function research triggering the global pandemic and big pharma have enormously profiteered from COVID disaster.

The defense sector viz. the military industrial complex and western governments on their part supplying weapons to Ukraine while procuring energy from Russia have secured multi-billions in arms trade to Ukraine having destabilized the once relatively peaceful country in 2014.

Let there be no more time wasted in cliché on Hollywood fame defamation trial and Jan 6, 2021 fiasco. The late night show hosts paid millions of dollars as propagandists with pre-recorded captive audience fake applause and social media attempts to deflect public attention with platitudes and parody are imposed as entertainment.

Meanwhile, there are no investigations or discussion on western violent intrusion overthrowing democratic power in Ukraine in 2014 and recently ejecting Pakistan’s government under former Prime Minister Imran Khan causing political chaos and further economic derailment in that part of the world.

The stark reality – the people survival is challenging more than ever deserving long overdue focus and respite from the deteriorating situation.

Padmini Arhant

Author & Presenter

PadminiArhant.com

Prakrithi.PadminiArhant.com

P.S.                                                                      Ukraine President Volodymyr Zelensky

Pakistan’s former Prime Minister Imran Khan on Pakistan affairs. 

Written by Padmini Arhant · Filed Under Economy, Featured 

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