Armstrong Economics Blog/Energy Re-Posted Mar 14, 2022 by Martin Armstrong
Everyone criticized Trump for condemning his NATO allies in 2018. At the time, only five nations were meeting their 2% GDP spending requirement on NATO defense, with the US paying around 5%. Trump suggested that everyone contribute 4% to build a stronger alliance. He never wanted to back away from NATO to support Putin, rather, he wanted to back away from NATO because he felt the US had been taken advantage of by its European allies.
Trump called Ukraine the wall between Russia and Europe and stated that America had become the “sucker country” by shelling out millions to Ukraine when they received far less in return. He warned Europe that their reliance on Russian imported energy would spell disaster and went as far as declaring that Germany was “totally controlled by Russia.” Instead of looking for energy alternatives, Germany went through with the Nord Stream 2 Pipeline and wasted billions as sanctions were implemented before the pipeline was fully functional.
Western world leaders failed us by using Russia as the easy solution for energy while simultaneously failing to have any diplomatic relationships with the country. The energy crisis was preventable.