Everything was going fine, until one day Joe Biden woke up & decided to levy sanctions on Russia because of its invasion in Ukraine.
Sanctions mostly meant, Russia cannot export it’s commodities to outside world, freezing of Russian accounts on the SWIFT banking system.
Russia being the largest exporter of crude oil, natural gas, wheat, coal & fertilizers unable to export the same to other countries lead to worldwide shortages of these essentials and thereby rising prices & soaring inflation.
So much of inflation which wasn’t witnessed by the USA in past 40 years.
USA tried to harm Russia, but thanks to it’s short sightedness, harmed not only itself but the global economy too.
Most economies though recovered well from inflation. In fact, yesterday there where reports of possible deflation in China.
While countries which supported USA openly into sanctions on Russia are still battling with inflationary pressures & a possible recession… Karma has it ways to get back to you.
On top of this, Fitch downgraded the credit ratings of USA from AAA to AA+ for the first time since 2011.
All in all, Biden caused more damage to USA than to Russia.
Meanwhile, Putin is laughing on the way to the bank selling cheap crude to India & China.
