Comments by "duncan smith" (@duncansmith7562) on "Germany braces for 'mega-strike' targeting rail and air travel | DW News" video.

totally predictable. sanctions on Russia have boomeranged to hit Germany hard
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@thegreatdane3627 sanctions on Russia added to rise in energy costs, which added to inflation and rise of cost of living and made people across Europe poorer, hence the rash of strike action in many places to secure higher wages. come on, start thinking.
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@thegreatdane3627 there are many factors contributing to inflation, including lockdowns and green energy. high energy costs due to sanctions on Russia is one of the major factors. Chinese goods have to be transported, costs of transportation increase as energy costs increase, so Chinese goods and in fact all imports will go up in price. start thinking. inflation will not go away while governments build up more debts and print money, which they have to do to afford the higher energy costs, due to sanctions on Russia. start thinking.
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@thegreatdane3627 quick question about the 10 sanctions packages issued by the EU against Russia. which of the 10, in your opinion, had the most devastating effect on the Russian economy?
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@thegreatdane3627 keep in mind Sweden had no lockdown but still has inflation, so, that would indicate maybe inflation due to lockdowns isn't as big a factor as inflation due to sanctions on Russia.
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@thegreatdane3627 it is irrelevant what natural resources Australia possesses. Sanctions on Russia have created a spike in global energy prices which means the production and transportation costs of everything Australia imports has increased. start thinking. we agree that lockdowns and printing money caused inflation. but inflation increased even more following the sanctions on Russia. "The Putin price hike" as Biden loves to say. The sanctions were meant to cripple the Russian economy and banking system! how many Russian banks have collapsed recently? Russian inflation is lower now than in most Western countries. The Russian economy is doing just fine as Russia continues to produce all it needs to continue the war effort. The sanctions are a miserable failure. sad you are blind to reality. so, second time of asking. of the TEN EU sanctions packages, which one has had the most devastating effect? start thinking.
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@thegreatdane3627 interesting, though, that you go all the way to Australia to try and defend your argument. Australia too has imposed sanctions on Russia, so makes sense Australia will get no special deal on imports from any nation closely allied to Russia (China, India etc).
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@thegreatdane3627 UK and USA also running the largest budget deficit ever. so i guess that means sanctions on Russia are also the source of that.
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@thegreatdane3627 on the contrary. I'm schooling you on how prices work! you tell me, when the West cuts off its supply of cheap Russian energy, but demand remains more or less the same, how can that result in deflationary pressures on energy prices as opposed to inflationary pressures? talk me through it step by step. balancing a budget does not depend on a certain oil price! a nation's budget is balanced, or not, according to a whole myriad of factors, so, again, you are infantile in your assessment of how budgets work! It is absolutely priceless to hear a European lecturing on how Russia is suffering a budget deficit! China and India are benefitting enormously from Western energy sanctions on Russia. and Russia is surviving quite well in the transitionary period while it focuses on exporting to Asia. BTW, once India has refined Russian oil, there are no sanctions on that refined Russian oil being blended and imported to the EU! So the Indians, as wise middlemen, hike up the price, cause more misery in Europe and that leads to more and more strikes. start thinking.
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@thegreatdane3627 curiously, when you mentioned Australia, you mentioned coal and gas. you didn't mention oil. Is Australia a massive oil producer? No? So, as a remote country, transportation costs to such a place will increase, ceteris paribus, as global oil prices go up. so the products Australia imports go up because of production costs increasing, then the transportation costs go up too, hello Australia, can you say rampant inflation?;)
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@thegreatdane3627 just curious. what is Russia's debt to GDP ratio, compared to UK? Japan? Greece?:)
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@thegreatdane3627 ok, back to basics. supply and demand is the mechanism whereby a price is established. if inflation were simply connected to supply and demand, the price of milk would remain stable, as any increase in demand would be met by an increase in supply. but that isn't happening. inflation is when the purchasing power of your money decreases due, in some cases, to rising costs and rising prices. Dairy products are a lot more expensive because the costs of production have gone up, and those costs are passed on to the consumer. inflation can also occur when the currency loses its value due to printing money and extra money supply. inflation is way beyond a simple supply and demand graph. where you are right is that one way of reducing inflation is, if supply can't be boosted, to reduce demand, so higher interest rates restricts disposable income for consumer spending. But in the inflation that has hit the West, the key question is what caused the jump in production costs that inflated prices for basic goods? one massive factor is the sanctions on Russia. The removal of cheap Russian energy from Western markets boosted global energy prices, hello inflation. anyone sane can see this. only those who refuse to admit sanctions on Russia could possibly have negative repercussions for the West keep their heads buried in the sand.
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@thegreatdane3627 EVERYONE'S debt to GDP ratio is important! just like measuring your income to your personal debt! Once you approach the point of not earning enough to pay the interest on your debt, you are finished! There are many financial institutions within Russia and worldwide ready to assist the Russian banking system, sad though that fact is for you to acknowledge. Dedolarization is moving apace, OPEC and BRICS are staying united in working with Russia. It's the West that has isolated itself and is now braced for economic ruin. You backed the sanctions that brought ruin and isolation to the deluded West. You were foolish and naive in the extreme. But go ahead, step by step explain why cutting supplies of cheap Russian energy is a wonderfully deflationary policy. walk me through how such a deflationary measure works.
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