Trump is doing EXACTLY what he’s told to do, by the big oil and auto execs, because remember, he DIDN’T go to prison and DID get reelected somehow…
Hey, remember a decade ago when he said he’d run America like a business!!! Remember how many times he’s gone bankrupt? Well… Add a tally to those lists.
this is almost a certainly a when and not an if, the US will always protect its own economy first
It will instantly destroy the US economy too. America’s globalised market and money machine simply can’t be turned off. It’s pure last minute cope.
For sure, knock on effects will be huge. The US economic system is deeply tied into the global economy and it’s nowhere close to being self sufficient.
i don’t know if it’s last minute cope, i mean this is the same tactic of destroy a sector of the economy, buy the petite bourgeoisie and accumulate more capital.
It wouldn’t be completely turned off, it would just be the closing of one American commodity that Trump can’t risk before the midterms. With inflation as bad as it is across the world, I don’t see other countries trying any retaliatory trade action in part because they aren’t going to be able to afford it.
I expect Russia to make a lot of money as countries drop their sanctions.
I expect Russia to make a lot of money as countries drop their sanctions.
Arguably, it would actually serve to further destabilise Russia. It might not have made global news, but there’s something of a fuel crisis in Russia at the moment - due to drone bombings of oil refineries and such. The one fuel seemingly unaffected is diesel, due to Europe closing down on imports, so there’s just a lot left around. So while personal car drivers are seething in fuel lines, trucks and buses continue without much issue. If Europe starts buying diesel again, it will all go there, leaving buyers inside Russia empty. Which would mean bye-bye logistics, and hello pissed off (even further) population.
The capitalists will make lots of money though, this much is correct. But Russia as a whole? Nah.
the concern seems to focus on diesel and the europeans have proven that they would rather cut their noses to spite their faces – i suspect that they’ll never buy russian diesel until this current crop of leaders are replaced by harder core right wing figures.
But I think that’s part of it. It seems like they’re totally cool hurting everyone, including themselves. They’ll just lie and point fingers elsewhere. All the while they’re stuffing their pockets with cash, presumably to wipe their asses with in their bunkers.
A statement that still shocks people.
It won’t make any difference to the pump price, because its set by world parity pricing. And as the US has only a small net positive balance for oil imports and exports, it won’t make any difference to the rest of the world either.
it goal is to minimize the bleeding in the midterm elections as much as possible and it’ll do that for the short term gain at the expense of long term pain.
