Tymur Khakimov/Pexels
The Impact Of War And Sanctions
In a post earlier this month (Sanctioning Ourselves), I mentioned how our system's top names reflected the impact of Russia's invasion of Ukraine and the subsequent U.S.-led sanctions on Russia:
The price of wheat recently broke above $10 per bushel for the first time since 2008 on concerns over how Russia's invasion of Ukraine and the subsequent global economic sanctions on Russia will impact global wheat supply.
An Economic World War III
President Biden deserves credit for having so far avoided World War III. He has resisted calls to impose a no-fly zone over Ukraine, which would lead to war with Russia, and he has clearly signaled he has no intention of fighting Russia.