A new brotherhood.

"The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. That price is still worth paying, however." Reuters. "The complication is that central banks for the most part appear to have only limited control. For one, high energy prices, a function of Russia's war in Ukraine, is creating a supply shock on which monetary policy has little effect." "Europe may be facing years of energy rationing and the need to find alternative supplies as its energy crisis worsens and Russia restricts natural gas flows, Shell CEO Ben van Buerden said..., according to the Financial Times." BI. "As Europe's energy costs skyrocket, Russia is burning off large amounts of natural gas, according to analysis." BBC. "They say the plant, near the border with Finland, is burning an estimated $10 million worth of gas everyday. Experts say the gas would previously have been exported to Germany." Problem is that experts are skirting round the real issue, which is that the war in Ukraine has reached a stalemate. Having lost thousands of soldiers, Russia, or Putin, cannot back down. "Russia has endured as many as 80,000 casualties since President Vladimir Putin ordered the invasion of Ukraine in February, according to the latest assessment from the Pentagon." US News. "More than 5,000 Russian soldiers have been killed in Ukraine since the start of the invasion, according to a tally of confirmed deaths updated this week by independent Russian media outlet iStories." The Moscow Times. This kind of imbecile propaganda shows how both sides are entrenched in their stupidity and will probably have to reach economic collapse before realising that they have no other alternative except to compromise. European people are suffering unnecessarily. "European Union countries will face five to ten terrible winters if nothing is done to reduce gas prices, Belgium's energy minister says." BBC. "Countries backing Ukraine are trying to cut imports of Russian gas and oil." Before that, Europe is having to endure an unusually hot summer with temperatures reaching 40 degrees Celsius. NDTV. You need gas to produce electricity for air-conditioning. Germany has always been considered a water-rich country. DW. But now, "landscapes are withering, wetlands are drying out, and forests are burning. Rivers fail as traffic arteries because they do not carry enough water for shipping. And as groundwater levels drop, there is mounting concern over the future." The euro has fallen below parity to the dollar. "A sliding euro will add to the burden on European households and businesses already reeling from record-high inflation." DW. "Bets that the euro would continue its fall below parity have gone up." "Nobel Prize-winning economist Richard Thaler mocks claims the US is in recession - and says inflation could fade within a year." BI. And. India will grow at 7.4% in 2022-23 as well as in the next financial year, according to the Finance Minister Nirmala Sitharaman. Oh, goody. India US bhai bhai. Like...