On today's episode Walter Smolarek and Prof. Richard Wolff discuss how Europe has plunged into an even deeper energy crisis as Russia cuts off imports through the Nord Stream pipeline in response to western sanctions. While US and European leaders pledged that sanctions would quickly bring the Russian economy to its knees, is the reality in fact the opposite?
Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.
1 opmerking:
Michael Hudson explained from the beginning that , from a macro economic perspective , the sanctions can best be seen as consciously directed towards Europe.
I think any serious economist would have predicted , that it would be unlikely that Russia wouldn't be able to divert its oil exports to alternative markets in the South , that do not wish to align with the global North. Or that China and Russia would intensify their relationship.
So , the U.S. succesfully deprived Europe from cheap gas for some years to come , and from a reciprocal trading partner , being Russia.
And who needs dirty fracking gas anyway?
The U.S. blew up North Stream like Biden promised , the one between Finland and Estonia I guess has been blown up by Russia , although that one is much shorter and it was said to be repairable within a few months.
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