Psycho Dad (@BagholderJay)

"Then comes the second wave that almost nobody talks about: sovereign debt. Higher energy prices feed inflation. Inflation prevents central banks from aggressively cutting interest rates. Higher rates increase government debt-service costs. Governments already buried beneath debt must then borrow even more merely to service what they previously borrowed. Europe is especially vulnerable because it deliberately destroyed much of its cheap energy structure in the name of climate ideology and then sanctioned Russia without having a viable replacement. Another sustained energy shock arrives while Germany is weak, France is drowning in debt, Britain cannot control its fiscal position, and governments everywhere are simultaneously demanding enormous increases in military expenditure." https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/saudi-oil-production-collapses-this-is-how-the-war-screws-everyone/?awt_a=1JPVU&awt_l=26cwQ&awt_m=8qWVCrG6qy4vxrVU