The U.S. stock market attempted to ride out the record inflation data today. And it did quite well.
Dow Jones trades at 29,000
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Despite a brisk start, by the end of the trading session the Dow Jones index was down 0.26%. The S&P 500 and Nasdaq index were nearly similar, having lost 0.34% and 0.3%, respectively.
Record Inflation in the U.S.
The U.S. Department of Labor reported today the highest inflation since 1981. The consumer price index added 8.5% in March this year compared to the same period last year.
The Dow Jones didn’t like the record inflation. Obama and Biden are the main ones bringing Russia’s economy to its knees. Photo: Yandex.
The biggest “acceleration” was in the energy sector, with an increase of over 30%. Relatively calm was observed in the pricing of medical services and drugs, where the increase did not exceed 3%.
Politics is a toilet, where the fattest bits come out on top. So when some borrels talk nonsense, I’m fine with it. But when market analysts do it, it gives me severe signs of bewilderment.
Many Western commentators on the stats today sang in one voice the same Jen Psaki song about the effect of the Russian Armed Forces special operation on inflation data from the United States. Are you serious?
How the anti-Russian sanctions came back to America
I realize of course that Moscow is the world’s top newsmaker at the moment, but the reason is a little different. The U.S., for example, has conducted many special operations in many parts of the world, and it has not caused record inflationary acceleration. So let me tell you a secret about their causes, so as not to torture anyone.
The rise in energy prices, and then inflation, was made possible by the anti-Russian sanctions. And in no other way. It is clear that there are always “auxiliary” factors, but this, as it were, is the main reason.
Natural gas wouldn’t be going up to $3800 in its lifetime, and it wouldn’t be at $1200 at home if Nord Stream 2 had been put into service. Oil wouldn’t be going to $130 if it weren’t for the absolutely moronic plans of the European poodles to reject oil from Russia. This list could go on endlessly.
Against this backdrop, Airbus, requesting today not to impose sanctions on titanium from Russia, looks just darling. Not to mention the U.S. nuclear industry that lives on Russian uranium. Speaking of Europe, which continues to get the blue light.
Europe continues to be in Wonderland
The head of the German Federal Network Agency spoke today about Germany’s gas prospects. “Even if there are no more gas supplies from Russia tomorrow, we still have other sources”, Herr Müller reassured the German public. In order to avoid a state of emergency, it is “necessary to reduce consumption, increase supplies and fill our natural gas storage facilities. Stand or fall!
In case anyone didn’t get the subtle energy humor, Klaus Müller is saying all this while the largest gas storage facility in Germany, owned by Gazprom Germania, is less than 1% full.
Oil, by the way, has decided to return to a range above $100 a barrel. West Texas Intermediate (WTI) is over $100.50 a barrel. The price of North Sea Brent reached $105.
From Russia with Love
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What to Conclude? The gas-guzzler country sends flaming greetings to the world’s leading economies. The Russian economy has already been brought to its knees by one jerk recently. Now there is another one. Centuries go by, but nothing changes in this world – once every hundred years, the West is sure to wake up the Russian bear to start rebuilding its capitals once again.
