The Biden administration’s policies have had some very interesting results. On the surface, seeing these results should have caused a rethinking of the policy involved, but it hasn’t. History will tell us whether the destruction of the American economy and the end of American energy independence was truly accidental.
On Tuesday, The Conservative Treehouse reported the following:
(Via New York Times) – The ruble cemented its unlikely status as the world’s best-performing currency, rising to new multiyear highs this week. Since collapsing in the weeks after Russia’s invasion of Ukraine, which triggered sweeping international sanctions aimed at crippling the Russian economy, the ruble has come roaring back.
On Tuesday, it traded at its strongest level against the U.S. dollar since June 2015. It has gained about 35 percent so far this year, beating every major currency, and has more than doubled from its post-invasion low.
[…] Higher earnings from oil and gas exports, which have surged as prices rise and demand in Asia makes up for cutbacks in Europe, have kept the ruble elevated. At the same time, Russian imports have fallen sharply, partly the result of many foreign companies pulling out of Russia, which also support the ruble. (read more)
Oddly enough, had America continued the energy policies of the Trump administration, the overall cost of oil and gas would be less, but the American economy would be stronger and the Russian ruble would be weaker. The results of the Biden administration’s energy policies and the actions of the Biden administration regarding sanctions on Russia have had exactly the opposite effect of what was needed. Historians will debate whether this was accidental or intentional. We have officially reached the place where the difference between a conspiracy theory and a news story is about four months.