The world is feeling the inflation created by covid and warmongering.
US and European countries are sanctioning themselves, increasing energy, grain and other commodity prices.
Central banks are foolishly raising interest rates globally to try to contain it (raising interest rates leads to more inflation).
The US government has been cutting the fiscal deficit. So far $1.5 trillion.
And they are proud of it.
Recession will surely follow.
Brazil’s only chance to survive through this is with Lula’s win, followed by removal of the useless expense ceiling.
This year, we’re on track to cut the federal deficit by over $1.5 trillion – the biggest decline in a single year ever.
— The White House (@WhiteHouse) May 6, 2022