They come together in one bittersweet conclusion: no Fed lift-off in March.
What you're not hearing about fighting the Russian invasion of Ukraine with horse de-wormer
Wednesday, February 23, 2022
Russia is executing Biden's "minor incursion," and the sanctions are even more minor.
Update to Strategic View
Russia's recognition of "separatist regions," and even an annexation of Luhans'k and Donets'k, seems to fit Biden's seeming invitation to a "minor incursion." The EU and US sanction response is tepid, but not only because the incursion is "minor." As with the annexation of Crimea eight years ago, Russia's aggression has no economic consequence -- yet strong sanctions such as embargoing SWIFT or boycotting Russian oil or gas would be economically crippling to Europe. As with using Ivermectin to control the cytokine storm that can result from a Covid infection, Europe will do as it did with Crimea -- tolerate Russian aggression of no economic consequence, because the alternative would be economically ruinous.