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The Recipe for $150 Oil
by James Rickards Daily Reckoning
How do the wars in Ukraine and Gaza impact global economic growth and the U.S. economy in particular?
Both wars are ongoing and cataclysmic impacts may yet be felt. Here’s where events stand at the moment. Let’s start with the war in Ukraine…
From a strategic perspective, the situation in Ukraine resembles a smaller-scale version of the situation in Europe in late 1944. At that point, the Allies had successfully completed the D-Day invasion and liberated Paris.
On the Eastern Front, the Russians had annihilated the combined armies of the German Wehrmacht and were advancing through Poland toward Berlin.