As Ukraine war drags on, Europe’s economy succumbs to crisis

Reuters/Balazs Koranyi/8-23-2022

“But all that changed on Feb. 24 with Russia’s invasion of Ukraine. Normality is gone and crisis has become permanent. A recession is now almost certain, inflation is nearing double digits and winter with looming energy shortages is fast approaching.”

USAGOLD note: It is unknown to what degree the problems in Europe will affect the American economy and financial markets. What we do know, however, is that much of what is influencing Europe’s inflation and recession is present here, and in that respect, Europe might be providing a glimpse of the future.

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