The pain from these stupid sanction monkeys is just starting.
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Exactly, every.single.sector is going to suffer. Today’s global financial system is so interconnected just one wrong move ( sanctions) can set off a global crisis. Deutches bank has lost 38 percent of its value, and more disturbing :
“ There is a known $41 billion in Credit Default Swaps (CDS) on Russian debt. There is likely many billions more in unknown amounts. There are also billions more in Credit Default Swaps on state-owned Russian corporate debt and non state-owned Russian corporate debt. In addition to Wall Street not knowing which global banks and other financial institutions are on the hook to pay out on the Credit Default Swap protection they sold in case of a Russian sovereign debt default (or Russian corporate debt default), there is also approximately $100 billion of Russian sovereign debt (whose default is looking more and more likely) sitting on the balance sheets of foreign banks.”.
https://wallstreetonparade.com/
Senile Joe just ignited WW3, The Great Financial Meltdown. Worldwide Banking losses, credit destruction, ( the world runs on credit), huge food shortages, record inflation, dislocation of every market worldwide.
Delta,
Thanks for the info.
The nonchalant attitude about sanctions is pissing me off.
Its pure emotion driven.
Its going to make supply chains, the labor supply, and a misalignment between capital & labor even worse.
The global economy was already in a bind before Russia & Ukraine and now they make everything substantially more chaotic.
Read later.