Europe is facing the nightmare scenario. STAGFLATION.

 via CNN

Germany, and indeed much of Europe, is now facing stagflation — the nightmare combination of high inflation and weak economic growth.

France is already there.

Europe's second biggest economy stalled in the first quarter, with GDP flatlining and inflation hitting a new record high. Consumers responded by closing their wallets: household spending fell 1.3% in the three-month period.

Italy fared even worse. Its economy shrank by 0.2% in the first quarter.

It may take a while before the outlook improves, particularly given Europe's exposure to trade with China.

"Worsening Chinese lockdowns and cautious consumer spending in reaction to high energy and food prices could easily cause a temporary contraction in eurozone GDP in Q2," the Berenberg economists added.

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I warned about this but few would listen.  The cure is gonna be worse than the disease.

The sanctions regime was poorly thought out.  It is a rusted hammer that was applied to a situation that needed precision, not blunt force.

Now?

Now Europe is facing STAGFLATION.  There is little that anyone's equivalent of the Fed can do to change those conditions.

Quite honestly if the US Fed was smart they would raise interest rates at such a clip that they pushed us into a recession rather than risk STAGFLATION.

Doesn't really matter.

The American, European...hell the world wide consumer is about to get gutted like a pig.

Told ya so.

Oh and don't laugh at the Europeans.  Our time is coming soon enough.  You went for the bouncing ball of the War in Ukraine and the "Defense of Democracy" line instead of being aware of other issues that will affect our global defense.

Wars.  Famine.  Crime.  Immigration.  It's all gonna increase now.  You can thank the unintended consequences of an ill conceived plan.

Sidenote.  All the Russians have to do to win is to simply hold on. The longer this goes the more fractured the alliance will become. They'll focus more on their internal problems than the fighting in Ukraine.  It's almost to a point where all they have to do is hold the line, squeeze energy just a bit (get OPEC, Iran, Venezuela and others to hold the line) and watch food supplies dry up and WE will be begging them for relief.