German Inflation Surges 33.6% Among Producers in May, Highest Level in Over 70 Years
Shane Trejo
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The inflation rate of producer prices for industrial products in Germany soared to 33.6 percent year-over-year from May 2021. They have hit a new record high every month since December 2021.
There is other news from Germany that shows how economic sanctions against Russia are backfiring spectacularly. Energy costs have risen by 87.1 percent since May 2021 with natural gas costs rising by an astounding 148.1 percent.
While Germany and other Western countries pay mightily for their arrogant and shortsighted policies, Russia is cashing out. The administration of Russian President Vladimir Putin is boasting about their country’s economic strength while the West is destroying itself.
“Considering the price level that has been established as a result of the West’s policies, we have suffered no budgetary losses,” Russian Foreign Minister Sergey Lavrov said during an appearance on Bosnian TV.
“On the contrary, this year we will significantly increase the profits from the export of our energy resources,” Lavrov added, according to a translation by Reuters.
Big League Politics has reported on how economic sanctions against Russia have backfired as the West’s collective weakness and incompetence is demonstrated on the world stage:
“The Biden administration is finally realizing that economic sanctions against Russia are primarily hurting the American people while not doing a whole lot to hinder Russia’s success in their conflict against Ukraine.
Bloomberg News reporter Saleha Mohsin reported the scoop that the Biden regime is realizing that their foreign policy is blowing up in their faces.
In addition, corporations jumping on the trend of turning against Russia because of U.S. war propaganda are causing economic damage to Americans as well. These moves, initiated by corporations wanting to appear trendy and socially conscious to soulless zombified consumers, have resulted in unintended negative consequences.
The Biden administration has gone from being pleased that businesses like McDonald’s Corp. and BP Plc. had abruptly pulled their operations from Russia to being concerned about the effect these hasty moves will have on the global supply chain, grain exports, and the purchasing power of the dollar.
Making matters even worse, in the current repressive and psychotic anti-Russian climate, companies do not know how to proceed when dealing with Russia. This has caused uncertainty and only exacerbated economic problems.
“Because we just have so many changes at once, governments are not able to step in and give precise clarification and we are seeing many, many examples of authorities coming to different positions,” said Justine Walker, leader of global sanctions and risk at the Association of Certified Anti-Money Laundering Specialists.”
The West is getting its just deserts. Germany deserves to pay for embracing globalism and Russophobic hysteria, and they certainly are. Until the German voters embrace nationalism, it will only get worse for them and deservedly so.
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