jack ross list, thank you very much attorney. that was jack ross, an associate professor of economics and politics. now the current global economic challenges are the result of countries internal policies that says, say the russian president and anti russian sanctions, there were any exacerbating things that those who impose then daughter if someone tries to limit isn't something they in fact and limit themselves. for example, when someone tries to tail the export of our fertilizer, the prices spike apart mentally for them, not for us. when they're trying to limit our energy resources, prices skyrocket again. say already calling inflation by my name, but we have absolutely nothing to do with it. this is the result of their own mistakes and long term ones. they made those errors before today's event. and now in an effort to cover up for them, they are trying to shift all the blame to russia, the necessary and present shaw. alyssa has also been talking about the global economy, blaming the long term economic policies of separate co

[applause] i would also like to recognize and thank our major foundation sponsor jack ross, charitable foundation executive director arlen whitaker and husband harry dunn traveled from southern california so thank you jack ross, charitable foundation. when we have many other generous sponsors and i urge you to take a moment to read their names in the program ayand on the signage out in the hallway. for their generous funding of our programs. finally i would like to thank our steamboat institute board of directors and energy and climate summit planning committee whose help in planning today's program was invaluable. find all their names in your program and i would like to ask all our steamboat institute board members and energy anand climate summit planning committee please stand so we can thank you. [applause] and now it's an honor to introduce our first speaker to kick off our program. stephen koonin is a national respected leader in science policy who served as ' undersecretary for science in the us department of energy under president obama where he was lead author of the department

jack ross, miss professor of economics and politics and st. mary's at college of california and roger because his psy, the director of the geopolitical economy, research group says that the accusations by the west are a little more than a blame game. i think that the whole name russia game began a long time ago. remember, it was russia that was responsible for hillary clinton losing the election to donald trump. it's russia that's responsible for the inflation of fuel prices now. rates, russia, this is responsible for the inflation of food prices. so i think that it's, it's really an extremely self serving blaine game. if they wanted, they could have made exemptions for food. they love to use russia in order to blame the suffering that's caused by people in a certain sense. it's as though the united states a sanctioning the whole world, they want to try to done one of the instruction. but so far it hasn't worked. the number of countries that are prepared to sanction rush chuck it back to send a legal aid to ukraine. actually quite small. they

jack ross, miss again says he believes countries worldwide continue to suffer as a result of u. s. policies. u. s. a whole strategy here was in part to dry russia out of western europe economy. so the u. s. corporations can move to typically the oil and gas corporations, and that's exactly what's happening as long as the war goes on and the sanctions go on, which will go on even after the war, according to martin. as long as that occurs, the economic pressure on europe, both in terms of inflation and recession, will intensified. i think europe and some emerging market countries whose currencies are collapsing because of your policy are going to be the hardest hit as a result of what's going on here globally. the u. s. rule will take some, some heat to economically current global economic challenges, all the result of countries. internal policies says the russian president and anti russian sanctions that exacerbating things for those who impose them. yes, this daughter, if someone tries to limit us on something, they in fact limit themselves. for example, when someone tries to ca

for chinese. chips rose 58 percent with total sales, which in a record of $150000000000.00, dozen jack ross, miss professor of economics and politics says these policies initiated by the trump administration where failure. well, under trump, re try to use stairs strategically, any totally failed against china. when the u. s. launched the trade war in march of 2018, there were 3 objectives. want to get child to buy more u. s. foreign products to, to allow us bank at 51 percent ownership in china, and 3, to somehow slow down stop china's plans for next generation technology. the same she was that are being tested out by the u. s. with russia are eventually going to be administered in the economic war that's being been being plan, which i, and i think china knows that i think, you know, at some point a modus vivendi is reach between us nato and russia. at some point. who knows when then china knows that the target is going to be placed on them. and finally, this something of a diplomatic anomaly taking place in us, in the relations of the position of us and busted to india. a german vacant for

the vessel of economics and politics, jack ross, miss told us about an administration isn't little to tackle the problem of rising inflation. i think the democrats are in big trouble because they haven't really addressed the problems. and the people were aware of that. it was pretty obvious what were the forces building towards a more inflation to late last year. we had all these supply problems, not just in the ports, but you know, within the domestic economy as well. and after that, we had a lot of companies and industries take advantage of the awareness of supply, who didn't have a supply problem, but jacked up their prices. none, none the less. so you've got the fruit companies that are pushing a prices. you've got even baby food problem there, but on top of that you've got something gray real. and now that's the sanctions and the rise in commodity prices and going on speculators and so forth. and now you've got the u. s. companies whose productivity is pretty much collapsing and they're going to start raising their unit labor costs, then jacking up their prices as well. so we eve

and the biggest in the last 3 decades professor of economics, jack ross, thomas questions, a heights effectiveness suggesting that the worst is yet to come. they feel they've um, almost lost control of inflation. and the markets and investors have been pushing the fed and the government to get more aggressive to raise rates. and that's what's really behind all this. but you know, it's interesting. i listen to jerome this morning, you know, and the chair to say, chair and he indicated that, wow, this is really about doing something about demand driven inflation and you ask, is the fed really can't do anything about supply? well, the problem is supply problem is the commodities inflation that's going on now, man has to do with the war in the sanctions. also has to do with supply shames that are still, you know, in trouble after cove. it has to do with supply chain issues with china shutting down because a cold for a while and it has to do with speculators. the other thing i thought was interesting, you know, we're jerome pile this morning was he indicated he thought all this would resu

jack ross. miss professor of economics on politics at saint mary's college of california. doctor john, welcome to the international. now what are your thoughts regarding the treasury pictures of mission that she was wrong about the path inflation would take good? anyone have seen this come in? well, yeah, i mean, it was pretty obvious what were the forces building towards a more inflation late last year. we had all these supply problems, not just in the ports, but you know, within the domestic economy as well. and after that, we had a lot of companies and industries take advantage of the awareness of supply who didn't have a supply problem, but jacked up their prices. nonetheless, a good example is the airlines are recently erased prices in one month, 18 percent. and now they're cutting their flights a 100 flights a day, delta airlines. well, that's going to push prices up even more. you've got the food companies that are pushing a prices. you've got even the baby food, the problem there is really a major company added labs, credit india, you know it's production and then

[applause] i would also like to recognize and thank our major foundation sponsor to jack ross shuttled foundation, the executive director arlen and her husband larry travel all the way from southern california to do withh the state so thank you. [applause] we have many other generous sponsors and i encourage you to please take a moment when you can to read their names in the program and on the signage out in the hallway for their generous funding of our program. finally i would like to thank our steamboat institute board of directors and our energy and climate summit planning committee whose help in planning today's program was invaluable. you can find all of their names in your program, and i would like to ask all of our steamboat institute board members and our energy, energy and climate summit planning committee,, please stand so we can thank you. [applause] and now it's an honoro introduce our first speaker to kick off our program this morning. stephen coonan is a national respected leader in science policy. he served as undersecretary for science in the us department of energy und

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