And most European’s …
Americans don’t really care about the Russian President’s Pac-Man move on the Ukraine….
But?
Bets are that we will in fact get some collateral damage from a war 5,000 miles away….
We ARE in the times of a Global Economy and Energy dependance….
Russia’s invasion of Ukraine could have economic repercussions globally and in the United States, ramping up uncertainty, roiling commodity markets and potentially pushing up inflation as gas and food prices rise around the world.
Russia is a major producer of oil and natural gas, and the geopolitical conflict has sent prices of both sharply higher in recent weeks. It is also the world’s largest wheat exporter, and is a major food supplier to Europe.
The United States imports relatively little directly from Russia, but a commodities crunch caused by a conflict could have knock-on effects that at least temporarily drive up prices for raw materials and finished goods when much of the world, including the United States, is experiencing rapid inflation.
Global unrest could also spook American consumers, prompting them to cut back on spending and other economic activity. If the slowdown were to become severe, it could make it harder for the Federal Reserve, which is planning to raise interest rates in March, to decide how quickly and how aggressively to increase borrowing costs. Central bankers noted in minutes from their most recent meeting that geopolitical risks “could cause increases in global energy prices or exacerbate global supply shortages,” but also that they were a risk to the outlook for growth.
Russia’s invasion of Ukraine could have economic repercussions globally and in the United States, ramping up uncertainty, roiling commodity markets and potentially pushing up inflation as gas and food prices rise around the world.
The magnitude of the potential economic fallout is unclear, but a foreign conflict could further delay a return to normalcy after two years in which the coronavirus pandemic has buffeted both the global and U.S. economies. American consumers are already contending with quickly rising prices, businesses are trying to navigate roiled supply chains and people report feeling pessimistic about their financial outlooks despite strong economic growth.
“The level of economic uncertainty is going to rise, which is going to be negative for households and firms,” said Maurice Obstfeld, a senior fellow at the Peterson Institute for International Economics. He noted that the effect would be felt most acutely in Europe and to a lesser degree in the United States….
Note….
Russian President Putin knows this and it may come back to bite President Biden is the ass since America STILL has not recovered from the pandemic economy , on top of the American inflation issue….
Further more?
A cut off of energy from Russia could dramatically impact Europe negating and sanctions effects…
Europe will have too find other energy sources at much higher prices and delivery means…
Confirmation of the above …
The U.S. and its allies are expected to impose major new sanctions on Russia — punishing Vladimir Putin for ordering a full-scale invasion of Ukraine but stopping short of targeting some critical sectors of his nation’s economy.
Two people familiar with the plans, including a senior administration official, said Russian energy giant Rosneft is not expected to be a target of the new sanctions package. The administration is concerned about global energy markets, one of the sources said. Another person familiar said the focus of the sanctions will be on financial institutions….