Yes, it always is. This time it will be worse and I hope (can always hope) that the 1% Club will take more than they're used to, a lot more. They are really the only ones who can and they have the control.
Ordinary people in Europe and other countries are really going to get hit, way more than in the US, at least at first. Energy from Russia needs to be cut off and stop feeding Putin's war machine that's going on every day at the rate of millions$ or some ungodly amount I can't remember right now with energy flow from Russia.
Europe is working on it I guess, there going to get it cut back by 2030 I read somewhere. But that date is not going to be efficient. Going to have to take a faster hit than that for any meaningful actions to have any decent effect.
Kleptocrats: a ruler who uses political power to steal his or her country's resources.
Kleptocracy: government by those who seek chiefly status and personal gain at the expense of the governed.
