The United States is having more and more trouble financing Ukraine while European public opinion is slowly abandoning its pro-Ukrainian stance, said Hungarian economics professor László Bogár in a live show on Hungarian news channel HírTV.
The discussion referred to Ukrainian President Volodymyr Zelensky complaining that he had received weapons from an unnamed European country that did not work, but also that they had not yet received the promised U.S. Patriot missiles. Another economist in the panel, Imre Boross, pointed out that it is part of Western logic to communicate support to the world and then send old weapons in a shabby state to Ukraine.
However, his co-guest, Bogár, also noted that Ukraine is a training ground for many types of weapons, both old and new.
“Ukraine is intended to be a global shooting range where all kinds of weapons lying in warehouses can be tested and sold at a new value,” pointed out Bogár. He said he believes that it is only worth examining the role of power and economics in the conflict, while mostly disregarding the nice-sounding rhetorical ploys.
Meanwhile, the Ukrainian president called on areas of the country not on the front lines of the war to play their part in the war. Boross says this clearly means that the Ukrainians are in dire straits.
On the European Union, Bogár said that “the EU was not prepared in the slightest to bear the costs of a war on the scale of the Second World War.” In this context, it is also worth considering that, despite the U.S. withdrawal, the war in Afghanistan has still not been paid for in full, as there is still a lot of money that will have to go to the many injured and veterans. It is certain that the total cost of that war will be in excess of €2 trillion, he claimed.
Bogár pointed out that if this money had simply been given to Afghanistan, it would be one of the richest countries in the world today, adding that the West could do the same with Ukraine.
“It is quite certain that the total (for Ukraine) will be at least a trillion dollars and that it will cost a lot to rebuild,” he added.
This price will be financed by European and U.S. taxpayers, he added, but Ukraine will still be in a miserable situation, like Afghanistan today.
The US economy could be in big trouble
“The U.S. Treasury Secretary is already operating in panic mode,” Imre Boross said, adding that the rapprochement between Russia and China and President Vladimir Putin’s announcement that they could use the yuan instead of the dollar in their international economic relations could cause a major shock to the U.S. economy.
According to Bogár, it is now a foregone conclusion that U.S. President Joe Biden will be the one who wants peace the most.
“De-dollarization” and the fact that there will soon be no one left to finance the “U.S. empire” has driven the U.S. into a fatal trap, said Bogár. According to the economist, while in America the financing of the war in Ukraine is the pressure point, in Europe, society itself is the pressure point, and the continent is drifting toward permanent civil war.