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Crisis In Ukraine Has Global Financial Ramifications
Posted
March 9, 2022
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March 9, 2022
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1:36Now PlayingThe chaos in Ukraine is real financial consequences, whether it's crypto, stocks, food, and fuel prices, and much more. Check out the video to find out more.
Welcome back to Bold TV with David Grasso. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
What's going on is that Russia has invaded Ukraine and is waging an unfathomable war on innocent people.
To punish Russia, the majority of the world agreed to defund it or take its economy out of the global financial system.
Oil is Russia's only significant contribution. Russia's oil is the lifeblood of the world economy. The Russian sanctions have caused the price of oil to rise steadily, raising concern in the financial markets. Oil prices have an impact on the rest of the economy.
We need to move things, power factories, and manufacture products like plastics, all of which require a lot of oil. And, until we have greener options, we are addicted to oil and reliant on less-than-friendly countries like Russia to keep it cheap and widely available.
So, if you're wondering why your stocks and cryptocurrency have taken a tumble and why prices are increasing at an alarming rate, look no further. It's because Russia's invasion of Ukraine is directly responsible for increased oil prices. Our global economy will remain weak as long as we rely on oil to meet our needs.
A more diverse energy policy would help to combat climate change, make our air cleaner, and stop funding strongmen like Putin who can attack nations on a whim because they have trillions of dollars in oil money to pay for their armies.
Will this war have long-term global effects? What do you think? Let us know in the comments!
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