War mongers in the US are overwhelmed with joy in front of their Moloch statues this morning, elated to see death and mayhem perhaps a bit closer to American boys and girls. After all, our dear friends, the fucking Ukrainians, need our help.
A series of horrendous headlines are causing small market weakness today, nothing too scary from a financial point of view. But, given the current state of the war in Ukraine (much tougher than expected) and NATO’s increasing involvement, I would be surprised if this war did not spill into other countries by summer.
The west is being lulled into a false sense of security watching Russia stumble in Ukraine. The Ukraine army is arguably the most formidable in Europe and they’re losing, make no mistake about it. On the entire continent of Europe, there are no formidable armies that can take on the Russians at this time. All of that would rest in the hands of Americans and perhaps we can easily manage Russia; there will be massive casualties in the process. Also, and this goes without saying, if the war expanded into Europe proper, Russia would likely do a draft, which would then be mandated in western nations as well, all the while gas at the pump fetched $20 per gallon.
If ties get severed, expect Russia to halt deliveries of enriched uranium, causing stocks in that space to moon: DNN, UUUU, UEC, NEX.
The US 10yr is +9bps to 2.24, highest since 2019 due to inflation.Comments »