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So-called inflation reduction act, i think they realize that's what's driving the inflation. and so then you have this odd situation where what we would always call fiscal stimulus, when government spends more than it takes in, fighting against a monetary policy that is contractionary, so raising interest rates while the private sector takes a direct hit when you raise the cost of capital but the government can borrow whatever it takes to get the money it needs to engage in deficit financing for its own pet projects. >> john: and call for number four here, still borrowing at a phenomenal rate....

Ambushing a group in donetsk. in moscow they rubber stammed the annexation. cnn's nick peyton walsh joins us live from inside ukraine again. the kremlin said it's, quote, consulting, consulting to establish exact borders. what does that tell you? >> reporter: it tells that you their policy is in complete disarray. they are already supposed to have, quote, consulted the public when they held the sham referenda if they were conducted on military occupation at the points of the gun being asked to ask somebody what direction they wanted to vote. so we're in this odd situation where russia's realit...

Not doing anything, been a complete fiasco, borisjohnson was unfit for office, so unfortunately we have this leadership election that should have been shorter than it is, it should've been over in a few weeks. we aren't learning anything new with all these endless hustings. but to be fair to rishi sunak, he did act earlier on the thing, he did a 37 billion pound package, trying to help people on lower income, £650 than £400 — help people on lower income, £650 than £400 - i help people on lower income, £650 than £400 — i disagreed with it because it should've been targeted to the poor...

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