The current shortage crisis affecting the world has caused an inflation never seen beforeto a large extent, after the last blows of the coronavirus pandemic that have worsened with the war between russia and ukraine. The scarcity of products has been reflected in the soaring prices of food, fuel, oil and other essential materials.
The director of the largest Russian oil company, Rosneft, Igor Sechin, warned today that Europe’s “energy suicide” will have long-term consequences in the form of a loss of economic potential and competitiveness.
“The energy suicide committed by Europe will have long-term consequences. we already see one reduction of its economic potential, a drop in competitiveness and direct losses for investors”, Sechin said during the International Economic Forum in St. Petersburg.
Sechin stressed that by giving up Russian oil and gas, Europe has become “the region with the highest energy cost in the world.”
A few months ago, Bill Gates was already talking about pandemics, economic crises and others. His speculations, hypotheses and predictions have not gone unnoticed, especially after, in most cases, unfortunately, he has been right. Since then, his opinion and warnings have been put in the public eye, as well as putting the focus on what is to come.
In an interview with CNN, Bill Gates explained that this current economic situation adds to the existing pandemic “in which government debt levels were already very, very high, and there were already problems in the supply chain.”
“It is likely to accelerate the inflationary problems that the economies of the rich world have, and to force an increase in interest rates that ends up causing an economic slowdown“, has warned.
The billionaire has recalled that “the pessimists have a fairly strong argument that is very worrying” and given the situation, he has released advice on how to be prepared. “You can only be optimistic in the long term if you are positive enough to survive in the short term,” he has stated.
His words also coincide with the statements of other US leaders, such as Treasury Secretary Janet Yellen, who assured in April that Russia’s attacks against Ukraine will have “enormous economic repercussions for the world”.
In short, the tycoon assures that it would be about “saving like a pessimist, having a good economic mattress, and investing optimistically”.
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Bill Gates’ predictions and advice for “the worst economic crisis in history”