“Varney and Company” host Stuart Varney describes the devastating effects of inflation on Americans 401 (k) as Europe suffers from renewable energy.
Stuart Varney; Your 401 (k) is hitting this morning. Let’s not play a game of blame here. Let’s understand why your stock investments are losing value…
First, inflation, especially energy inflation. This is true – gas prices have been high since 2014.
Oil is very close to $ 80 a barrel – we haven’t seen that in years.
And natural gas, today, is growing at more than $ 6 billion. It costs a lot more to drive your car, heat your house, and power your appliances.
401 (K) Why do you think?
We are not alone. It is universal. Energy prices are skyrocketing worldwide. Nitrous gas in China costs about $ 30. It costs about $ 25 in Europe. It is so expensive that some European fertilizer companies are cutting production! It will be interesting to see what happens at the UN Climate Summit, which begins on November 1.
The energy crisis is partly due to renewable failures – the wind did not blow in Europe in the summer! How do you explain this bold new, green world that doesn’t really work!
Energy Price Up to 2008 Maximum Road Traffic Inflation
Another market problem is the risk of lower credit ratings. A.D. Occurred in 2011 – Our financial reputation has suffered greatly. So are the markets.
We have the same political turmoil now that we were in debt. Another hurdle can be reduced.
But what worries me most is the cold winter. Because that fuels inflation, which is really bad.
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