Consequences of Putin’s War

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In-Brief

• Putin has all but lost his war in Ukraine, but the war and its aftermath will have long-term consequences for billions of us.
• The war has essentially killed climate change hysteria in Europe and the Green New Deal in the US. President Biden is now ordering US drillers to drill while pretending to still support net-zero emissions. Nonsense!
• The US and Europe continue to respond very strongly to Putin’s aggression. The West’s reactions have been and will be political, financial, and economic, and are devastating for Russia and its oligarchs.
• The US economy continues to be strong, as is its job market with just 3.6% unemployment.
• World inflation is getting materially worse because of the war.
• High inflation badly hurts tens of millions of American families.