As fighting to the last Ukrainian continues THE WORLD TO FACE MANY MANMADE FIASCOS ENERGY SHORTAGE, FAMINE & GLOBAL MIGRATION CRISIS

The worst economic impacts of the war are yet to come. Europe has completely failed in its efforts to diversify energy supplies away from Russia. There's not that much extra oil output available. Natural gas is also in short. Meanwhile, Putin has been gradually reducing the supply of natural gas to Western Europe. But a looming energy shortage isn't the only coming manmade fiasco. Food shortages and in some cases famine will emerge this fall. It could also trigger global migration crisis. Freezing in the dark while starving is not a description anyone should take lightly. James Rickards feels that it was all avoidable.

- James Rickards

The war in Ukraine has dragged on for six months and will likely last for many more months or possibly years if the U.S. doesn’t end its policy of “fighting to the last Ukrainian.”

Attention spans have waned. Americans have adjusted to the energy price shocks. In fact, energy prices have come down a lot in the past month. Complacency about the war has set in.

But that’s a huge mistake.

In reality, the worst economic impacts of the war are yet to come. Europe has completely failed in its efforts to diversify energy supplies away from Russia. There’s not that much extra oil output available. Natural gas is also in short supply thanks in part to the Biden administration’s war on oil and gas.

Meanwhile, Putin has been gradually reducing the supply of natural gas to Western Europe. Germany is relying on its energy reserves even as winter approaches and Russian supplies dwindle.

Germans are not only reopening coal-burning power plants after spending 14 years shutting them down; they are gathering firewood to keep warm. Germany is moving from being the world’s fourth-largest economy and one of its largest exporters of high-tech equipment to a Neolithic-style reliance on coal and firewood.

Political spin