“Everyone loses,” says Stuart Varney. “Everyone loses.”
We are witnessing a significant reset on the world stage. And here at home. Regardless of the outcome in Ukraine, our return to normalcy from the COVID era has been stalled at best or blown to smithereens at worst. If you had lingering hopes of “going back” to the way things were, forget it.
When Putin rolled the dice for Russia, he wrapped up a nice little gift for you and me.
The ongoing turmoil in Europe won’t end anytime soon, least of all its repercussions. Freedom, politics, economic prosperity, markets, democracy, nuclear stability, and life, in general, are in for a reset. Again.
Here’s a quick rundown of how the Russia-Ukraine crisis will affect you.
- Inflation. Prices on everything will go up. When energy prices go up, every price goes up. And when we spend more on gas and oil, it leaves less for discretionary spending (think eating out, travel, summer vacation, etc.), which will impact the already tattered hospitality and restaurant industry. Inflation is here to stay for a while, likely through the end of the year at least.
- Your 401k will suffer. The Dow has already lost nearly seven percent this year, and it will likely drop more in the coming days. Financial advisors will urge you to stay the course, but it’s an excellent time to have a conversation with them. Even if you do not have money invested, it is still a leading indicator of our economy.
- Food shortages. In America, already hit by supply chain challenges, it will not be business as usual. Expect to see a rise in food prices, if not a shortage in some stores, as people begin to stock up amid fear and concern. Russia and Ukraine are leading exporters of grains.
- Cyberattack. No way to get around it. We use the internet every day — even more so since the onset of COVID two years ago — and a cyber attack would undoubtedly throw a kink into our daily activities. Some experts advise changing banking passwords, checking your credit often and reminding us to stay alert for phone/email scams.
- Psychological trauma. Just as we begin to emerge from the quarantines, masks, isolation and division of the COVID era, Americans will move into another stress-filled era to deal with money, political and international turmoil. To stay sane, stay connected with friends, family and church.
From a biblical perspective, these are precarious times.
Watch China. While the world focuses its attention on Europe and the unfolding drama in Ukraine and Russia, China is another player to watch. In fact, China and Russia will both be critical players in end times battles.
Watch Israel. Syria, Iran or others could try to take advantage. You can bet Israel is on high alert. As it has always been, Israel is God’s time clock.
Watch Iran and Syria. Russia is uniquely tied to both countries, and both have volatile leadership. If the European crisis is extended, movement on these fronts will not be shocking.
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Good read!
nice