"[We] will be a bit poorer" due to inflation, energy costs, says Dutch PM

CNBCDutch Prime Minister Mark Rutte on Wednesday said there is a “limit to what a government can do” to help people amid surging inflation.

Speaking at the World Economic Forum in Davos, Switzerland, Rutte told CNBC’s Steve Sedgewick that the Dutch government would help people on lower and lower-middle class incomes with their rising energy bills.

However, he added that “you cannot help everyone so ... we in the West will be a bit poorer because of the high inflation, the high energy costs.”

Inflation hit 9.6% in the Netherlands in April, according to the Dutch statistics body CBS. This was slightly lower than the 9.7% inflation recorded in March, though it remained historically high.

How do we get high inflation? Massive government spending funded by creating money out of thin air (Modern Monetary Theory) combined with shutting down production for two years and screwed up supply chain preventing goods from getting to the marketplace. Oh, and triple or quadruple energy costs.

How do you get high energy costs? Stop drilling for oil and provoke Russia into invading Ukraine, resulting in sanctions on Russian oil supplies, all in service of a great transition away from fossil fuels that is literally impossible to achieve, while increasing regulations on everything. Inflation is when more money chases fewer goods. The Biden Admin is doing everything it can to produce fewer goods and spend more money.

Coming up next? Shortages, followed shortly by "real Communism", by which I mean mass starvation.

This entry was published Wed Jun 22 22:22:02 CDT 2022 by TriggerFinger and last updated 2022-06-22 22:22:02.0. [Tweet]

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