Putin called US statements about “Putin’s inflation” stupidity

The West is using the Russian special operation as a “lifeline” that allows it to “blame its own miscalculations on others,” Putin said. According to him, the increase in imports from the US and the EU led to an increase in prices in the world. 756554722171579.jpg” alt=”Putin called the US statement about “Putin's inflation” stupid” />

Vladimir Putin

Today's rise in prices— this is the result of systemic mistakes by the United States and the European Union in economic policy, and Russia, with its special operation in the Donbass, has “absolutely nothing to do with it,” President Vladimir Putin said during a speech at the St. Petersburg Economic Forum.

“Recently, more and more often I hear <…> about the so-called “Putin's inflation” in the West. When I see this, I always think: who is this stupidity designed for? For those who can't read and write, that's all. People who can even read understand what's really going on, — he said.

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According to the president, Russia and its “actions to liberate Donbass have absolutely nothing to do with it.” «Today's rise in prices— this is the result of systematic mistakes in the economic policy of the current US administration and the European bureaucracy. Here are the reasons. And only in this»,— Putin noted.

Western countries are already using the beginning of the Russian special operation as a “lifeline” that allows them to “blame their own miscalculations on others, in this case Russia.” “They printed money in huge quantities” And then what, where did all these funds flow? Obviously, including the purchase of goods and services outside Western countries. They [the US and the EU] have literally started vacuuming, raking out the global markets. Of course, no one thought about the interests of other states, including the poorest ones, and did not want to think, — the president said. According to him, the poorest countries were left only “scraps”, and even then at “astronomical prices”.

In particular, if at the end of 2019 the volume of imports to the United States was about $250 billion per month, by now it has grown to $350 billion, Putin said. “Growth 40%” in proportion, this exactly corresponds to the unsecured pumping of the dollar mass of recent years, — he said.

Read on RBC Pro Pro Look for trends and “dig deep”. Super Mario Investment Principles Articles Pro How Helium Shortage Threatens SpaceX, Intel and Netflix Articles Pro I sleep a lot but still feel overwhelmed. What's Wrong Pro Articles How much does a product have to cost to be shelved by a major chain? How an investor can make money on it Articles Pro Features of the business environment in Turkey: what kind of business Russians open thereThe President also added that the United States “has long been a major supplier of food to the world market,” but today its role has “dramatically changed” and the United States has become a “net importer.” “Roughly speaking, they print money and draw commodity flows over themselves, buying up food all over the world,” — Putin noted.

Even higher rates of increasing imports of goods, according to him, are observed in the EU. “It is clear that such a sharp increase in demand, not backed by product supply, launched a wave of shortages and global inflation” that's where it comes from, this global inflation,»,— said the head of state.

And while these countries continue to import, the balance between exports and imports has already shifted to the other side, Putin added. However, the conclusion already suggests itself that “the economy of imaginary entities will inevitably be replaced by the economy of real values ​​and assets,” he noted.

In this way, Putin reacted, among other things, to the statement of US President Joe Biden. Speaking at the Port of Los Angeles last week about inflation and his administration's price-cutting measures, he said the United States “has never seen anything like Putin's tax on food and gasoline.” “Today's inflation report confirms what America already knows: Putin's price hike is hitting America hard— gas station prices, energy and food prices account for half of the monthly price increase in May,— said the president, commenting on the report of the US Department of Labor. According to this report, consumer prices in the country rose by 8.6% in annual terms in May, and this is the largest increase since December 1981. “I'm doing everything in my power to blunt Putin's price hike and bring down the cost of gas and food,” Biden then concluded.

The Russian Foreign Ministry, commenting on the statements of the US President, noted that food prices were rising throughout 2020 and 2021, even before the start of the operation in Ukraine. “If we listen to what the White House says, Biden, calling inside himself, American prices “Putin’s”, “Putin’s tax”, “Putin’s gasoline”, “Putin’s inflation”, & mdash; yes, they live in a fantasy world»,— said the representative of the department, Maria Zakharova, in an interview with the TV channel “360” on the margins of SPIEF.

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Vladimir Putin

politician, President of Russia

October 7, 1952

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