(John Ransom, Headline USA) Last week President Joe Biden not only admitted that his sanctions on Russia won’t work, but that they’re also going to make the United States of America poorer.
“It’s going to be real,” Biden said at a news conference in Brussels, talking about global food shortages.
“The price of the sanctions is not just imposed upon Russia. It’s imposed upon an awful lot of countries as well, including European countries and our country as well.”
Previously Biden had admitted that the sanctions he imposed on Russia were never meant to deter Russian President Vladimir Putin from invading Ukraine.
“Sanctions never deter,” Biden said during a Thursday press conference at a NATO summit in Brussels, Belgium, according to Newsweek.
Sanctions don’t work. They give the opposite effect. It brings the country closer. pic.twitter.com/DylzBm9IiS
— HOZ (@MFHoz) April 4, 2022
“The maintenance of sanctions, increasing the pain and the demonstration [is] why I asked for this NATO meeting today,” added Biden.
Pain apparently for the USA, whatever else it may do to Russia and Putin.
While gas prices have dropped slightly over the last month, with the summer driving season coming on, expect that relief to be only temporary.
For food prices, there will be no temporary relief.
John Catsimatidis, the billionaire owner and CEO of the eponymous New York City supermarket chain, said he expects food prices to continue to increase at least another 10 percent, according to Fox Business.
Overall inflation continues to set records not seen since the early 1980s.
“For the 12 months ending in February, grocery prices leaped 8.6%, the biggest year-over-year increase since 1981, the government said. Gas prices are up a whopping 38%. And housing costs have risen 4.7%, the largest yearly jump since 1991,” said Fox Business.
And expect the Biden administration to dream of other ways to go after the Russians that will likely hurt Americans just as much as Russians.
Because “embracing yet more federal power in the name of teaching foreign regimes a lesson tends to harm ordinary people in many ways few can anticipate,” said Ryan McMaken at the Mises Institute.
The official record of inflation, in food and energy, tallies those harms daily and shows us how much we are truly poorer for the Biden effort.
