Loony Tunes for Babies.

In June, "Euro-zone inflation accelerated to an all-time high." ET. "The scale ranges from Malta - where consumer prices advanced 5.6% last month, to Estonia - where inflation hit 20.1%. That's a difference of more than 14 percentage points, more than at any time since the dawn of the euro in 1999." "The risk of a euro area recession is growing as the likelihood of natural gas shortages rises and inflation remains at record levels, according to economists polled by Bloomberg. The probability of an economic contraction has increased to 45% from 30% in the previous survey and 20% before Russia invaded Ukraine." ET. "In 2014 with deflation looming, the ECB (European Central Bank) launched a bond buying stimulus program." ET. "The tool worked by buying up bonds on the market, and thus holding down borrowing costs for states, businesses and consumers alike, who are then more likely to spend and invest." "From a situation in which the inflation was obstinately low, refusing to respond to ECB measures, outside forces are now keeping it persistently high. Inflation in the eurozone reached 8.6 percent in June." "The era of ultra-low and finally negative interest rates in Europe began when the ECB was battling the global financial crisis triggered by the US bank Lehman Brothers in 2008, and the European sovereign debt crisis that followed in 2010." DW. "A trigger for the ECB to cut its deposit rate...to a record low of -0.5% was a renewed drop in the eurozone inflation rate to 1%." Unfortunately, US President Joe Biden messed up his visit to the Middle East including Saudi Arabia. "US President Joe Biden failed to win oil and security commitments from the Gulf leaders during the Arab Summit in Jeddah, Reuters news agency reported." Wion. "According to Arab News newspaper, the 30- minute discussion ended with Saudi Arabia saying that it did not have any additional capacity to increase oil production beyond 13 million barrels per day." The trouble is, when you are begging for something you should suppress that stupidity that Americans seem to possess naturally. Psychology Today. "US President Joe Biden on his visit to Saudi Arabia...raised the murder of Jamal Khashoggi during his meeting with Saudi Crown Prince Mohammed bin Salman (MBS) and said he believes the Saudi leader was responsible for the murder." abp. "MBS countered with the sexual and physical abuse of prisoners at Aby Ghraib prison by US military personnel." CNN. Saudi Minister for foreign affairs Adel Al-Jubeir told journalists that he "did not hear" Biden blaming MBS for Khashoggi's murder. BI. Biden claimed that Al-Jubeir was not telling the truth. Fox. "Did not", "Did too", Baby Loony Tunes. wiki. With Europe following the babbling loonies of the US recession is certain. Stupidity, it seems, is catching.