'This coming crisis of war, refugees, food, fuel, a dysfunctional Fed, and a worldwide pandemic could rival anything the world has seen since the 14th century.'
And the UK imports little Russian oil or gas. As Germany and the rest of continental Europe try to cut off Russian imports, the price of energy could not only spike prices well over 150% but also lead toof fuel and gas for heating across Europe and in other countries that now depend on Russian fuel imports.
The result was a revolt against the Syrian government, starting a civil war in that country and a refugee crisis that spilled over into Europe. A street vendor in Tunisia setting himself on fire as a protest against the higher wheat prices, and that act of self-immolation tripped off what we call the"Arab Spring" that eventually flipped Egypt into a military dictatorship, brought massive Russian bombing of Aleppo, and destabilized the entire region.
Imagine the combination of soaring inflation, fuel and food shortages, and a worldwide market crash: demagogues in every democracy in the world will crawl over each other to get in front of a TV camera and proclaim that they, alone, have the solution to their nation's problems. From the point of view of rightwing parties around the world, goods shortages will be another hammer to take to democratic governments, including the Biden administration.This coming crisis of war, refugees, food, fuel, a dysfunctional Fed, and a worldwide pandemic could rival anything the world has seen since the 14th century.
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