The Impact of Financial Sanctions on the West

The West is suffering a crisis rather similar to that of the early 1970s. Luckily, the importance of oil in particular is less than it used to be. But we have an inflation problem which originated with excessive fiscal and monetary measures taken to offset impact of pandemic lockdowns. And I think we are in for a very rough ride. The war is giving people around the world another reason to expect prices to go up.