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  • Putin’s stagflation revenge: Everyone said his war would destroy Russia’s economy but he’s killing America’s too

    06/18/2022 8:35:30 PM PDT · by Mariner · 83 replies
    Fortune via Yahoo ^ | June 18th, 2022 | Tristan Bove
    Between a tanking stock market, soaring inflation, and mounting recession fears, Americans are turning on the economy. And somewhere, Vladimir Putin is probably smiling about it.Amid all the chaos, inflation has become the biggest financial concern of nearly every American as prices rise for everything from gas to groceries.There are several reasons that inflation reached a 40-year-high of 8.6% last month, including rising rents and labor costs. But economists say a major driver is Russia’s invasion of Ukraine, and the subsequent disruption to commodities that it has caused.“The Russian invasion and spike in oil and other commodity prices is the...