Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today for as little as $7/month
Already have an account? log in
Liftoff, Yes. But So Much More
Fed liftoff isn't the only thing on the docket in the new week, although it's obviously the marquee event. Well, liftoff and the war. The war is a marquee event too -- a perpetual topic du jour that could deteriorate into the most consequential event of the 21st century at any moment, no small feat considering this century has already foisted a pandemic upon our unsuspecting, and woefully unprepared, species.
The economic data stateside is now both stale and more relevant than ever. On one hand
The geopolitical news flow in just the last 18 hours has been dizzying enough. Iranian missiles, rumored cease fire agreement, attack west of Lviv, China being asked for equipment, China denying, US warning China about circumventing sanctions, yowza…
With all due respect to the comedic genius of Tina Fey, here is the actual quote from Sara Palin during her first sit down interview after being selected as John McCain’s running mate:
GIBSON: What insight into Russian actions, particularly in the last couple of weeks, does the proximity of the state give you?
PALIN: They’re our next-door neighbors and you can actually see Russia from land here in Alaska, from an island in Alaska.
While the Russian mainland is about 55 miles from the Alaskan mainland, the distance between one particular Russian island and one particular Alaskan island is less than 3 miles.
Listened to a BBC reporter this AM describe his recent drive east to west through the Ukrainian breadbasket villages. The farmers and local mayors the reporter claimed to have interviewed did not appear to be willing to cooperate passively with Russian invaders. Much talk about preparations for resistance. Didn’t sound like the already sown wheat crop was going to be a high priority once the tanks arrive. Probably best to forget about the corn crop for export too. What squirrel rifles and shotguns will accomplish against tanks, mortars, artillery, and missiles remains to be seen, but, we can be fairly certain the Russian’s will be more interested with looting than converting their swords into ploughs and assisting with the wheat harvest. Where will agriculture’s machinery be on the fuel food chain? Not sure the history of invasions for the region over the last century or so give much hope for Ukrainian grain exports this year and possibly far longer depending on the Grim Reaper’s harvest.
After that dire report there were rumors of Russia recruiting Syrian mercenaries to fight in Ukraine. If so, we probably shouldn’t be surprised when uniformed NATO allied boots are ‘recruited’ and equipped. On the whole, the existential free-falling over the tipping point seems to be accelerating on a familiar trajectory.