"Because of the actions were taken to address the 'Putin Price Hike,' we are in a better place than we were last month, but we expect March ... CPI headline inflation to be extraordinarily elevated due to 'Putin's Price Hike', and we expect a large difference between core and headline inflation, reflecting the global disruptions in energy and food markets," Psaki said.
. . .She still claims that the whole fiasco was Russian president Vladimir Putin's doing, and America's economy is simply helpless in the face of Russia's gargantuan and merciless economic shadow.
"In other words, the mighty $21.4-trillion American economy is subordinate to the whims, the crushing boot, of a feudal, puny, and stunted Russian economy, which at $1.65 trillion GDP doesn't even best Texas's, the latter of which clocked in at $1.9 trillion in 2021.
"Gas prices are cited as the root of the inflation, and Psaki gaslights with alacrity on the matter in her statement above, but none of what she says has any basis in fact.
"The U.S. imports about 60% of its oil from foreign suppliers now that Joe Biden has ended U.S. energy independence. Of that 60%, 8% was from Russia, and according to NBC News, that amounted to about 2% of what the U.S. consumed. Cutting off Russian oil imports, as Congress has forced Biden to do, doesn't exactly make a significant dent in U.S. oil availability, even if the global price of oil goes up. And amazingly, energy production is still being repressed here in the States by Biden, which could fill that hole in a matter of three or four months according to energy industry insiders. Joe prefers to beg dictators to make up the difference, as well as squander the strategic reserves, and yell loudly about "going green." And somehow, that tiny impact is enough to send food prices spiraling to ever higher levels, as the FDA warned last month here. ". . .
Manchin: Quit the "Putin price hike" blame-shifting on inflation already – HotAir
The dotted line is Putin's invasion of Ukraine.
— Brad Polumbo 🇺🇸⚽️ 🏳️🌈 (@brad_polumbo) April 11, 2022
Oh, wait, it's not.
It's Biden's inauguration. pic.twitter.com/4JYsxGBqDd
. . ."It’s been a long, strange trip from “dissent is patriotic” and “the resistance” on the Left to “criticizing our Dear Leader is treasonous,” eh? The criticism in this case is well earned, especially for the gaslighting attempts to claim that inflation only became a problem when Vladimir Putin invaded Ukraine. As the above chart shows, annualized inflation went above the 2% target used by the Federal Reserve immediately after the passage of Biden’s bloated American Rescue Act in March 2021, and with the exception of a short pause in the late spring has been accelerating ever since.
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