A question: Marty, WEC has been great. You have masterfully tied it all together and how the real problem is this liquidity crunch. Suddenly the European Central Bank came out and said that inflation will not subside in a recession. Looks like they were watching WEC. Do you think the ECB is at least listening now?
Answer: for Christine Lagarde to publicly declare that “moderate recession“You will not underestimate inflation is to admit that inflation has been instigated by the COVID lockdown that has disrupted the supply chain and unleashed shortages. The Bank of England has come out and said we are going to have the longest recession in 100 years.”
The European Central Bank has just forced banks to repay their loans and withdraw 300 billion euros from the banking system in a desperate attempt to stop inflation. It won’t help that Legard knows that even a recession won’t prevent the kind of inflation that is akin to the recession of the 1970s where costs have gone up thanks to the OPEC crisis and where we have the COVID crisis that has created deficits mixed with climate change fanatics determined to end fossil fuels despite not The existence of alternatives. How do you make steel even without coal?