Bloomberg/Niall Ferguson/9-12-2022
“Economically, the nation’s parlous fiscal and monetary situation is leading the country in the direction of high inflation if not hyperinflation. Diplomatically, the approach of winter and the shifting sands of European and American politics pose a threat to Western unity that the Russian president, Vladimir Putin, is hoping will give him leverage. Without an immediate increase in Western support, Ukraine will struggle to sustain its success on the battlefield.”
USAGOLD note: For those keeping close tabs on the war in Ukraine, historian Niall Ferguson provides deep background resulting from his attendance at the Yalta European Strategy conference. Ukraine retook a big chunk of ground while the conference was in session. In a speech, Zelensky warned of a “winter of discontent” for Ukraine and all of Europe without mentioning the Eastern offensive. The inflation rate is 24% in the war-torn country.
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Image attribution: Alex Maisuradze based on 3d work by UP9, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons
