Russia’s invasion of Ukraine threatens to pull the rug out from under our previously pretty sweet economic recovery. It’s kind of a Godfather 3 moment — just when you think you’re out, they pull you back in.
Why it matters: We just went through a massive economic upheaval. The recovery is still fragile — supply chains aren’t fully recovered, and inflation is at record highs. Now, add on the fallout from both the war itself and the crippling economic sanctions levied against Russia for its unprovoked attack.
- We’ve never ripped an economy as large and as interconnected as Russia’s out of the global economic fabric. Russia’s economy is reeling, as intended, but you can’t do that kind of extraction without hurting yourself in the process.
- There already are, and will be more, disruptions to the flow of goods and money in our intricately connected world.
Energy: This is the key pain point, and Europe will feel it most acutely. The EU…