A WORLD WAR OF ECONOMIC ATTRITION

[Ohio Joe]

We’ve discussed in comments this past week the possibility Russia’s invasion of Ukraine will deeply affect the global wheat market. It’s already affected wheat futures pricing dramatically.

But wheat futures are only the tip of the iceberg. We are looking at the unfolding of a world war aimed at economic attrition; its effects need to be gamed out.

An important if informal assessment by Maxim Mironov, professor at IE Business School—Madrid (Instituto de Empresa, S.L.), was shared in a Twitter thread (translated here from original Russian into English):

--snip--

Fucked. Double fucked. This may be Russia’s economy in the very near term and the world’s bread basket over the course of the the next year, but this should be Putin’s epitaph.

Putin the Double Fucked.

https://www.emptywheel.net/2022/03/04/world-war-of-economic-attrition/

A good analysis of just how double fucked the Russian economy will be in the next two weeks. If this is accurate, I would expect the war to come to a head.

[KPN]

1. K & R ... this strikes me as a relatively accurate assessment. Things are going to get dicey

soon and get exponentially worse in quick fashion if something does not end this war.

The only real solution that has a chance of ending anywhere near well is if Putin no longer lives on this earth. The sooner the better in my opinion.