"Sanctions On Russia Backfire On The West"
by Portfolio Armor
Excerpt: "Our Predictions About Sanctions On Russia: Back in March, we pointed out that Western sanctions on Russia were likely to backfire against the West.
Our sanctions against Russia 🇷🇺 for its invasion of Ukraine 🇺🇦 are hurting America 🇺🇸. What's the endgame?$WEAT $CORN $HAL $OXY https://t.co/svNGplmZja
- Portfolio Armor (@PortfolioArmor) March 13, 2022
Quoting from our March article: "Biden has, in effect, helped launch an economic World War III, imposing unprecedented sanctions on a large and economically important country. Russia isn't an Iran or Libya. It's a continent-spanning country with a population of 145 million, and it is (or was) one of the world's top five exporters of oil, natural gas, nickel, wheat, coal, and other commodities. Let's breakdown why these sanctions are dangerous for us, and close with our investment approach to them."
We'll revisit our investment approach from that article at the end of this post, but before that let's note our follow-up piece in April where we wrote that the West had likely underestimated Russia's economy.
How the West may have underestimated Russia: Atoms versus bits; basic materials versus finance and services. $BTU $USO $CENX $GDXJ https://t.co/Nf2MATmFw9
Quoting from that article: It appears that the laptop class in the West has underestimated the resilience and size of Russia's economy because it's more based on the physical world than ours is."
- Portfolio Armor (@PortfolioArmor) April 11, 2022
The Mainstream Media Starts to Catch On: The mainstream media is finally acknowledging what we predicted then. From Tablet Magazine: "Biden's arrogant anti-Russian sanctions have amounted to a price hike on working class Americans that have so far failed to weaken the Russian economy. His neocon policy accelerates the process of de-dollarization, diplomatic isolation & imperial decline."
- Max Blumenthal (@MaxBlumenthal) June 2, 2022
The Guardian a couple of days ago: "Russia is winning the economic war - and Putin is no closer to withdrawing troops" - Larry Elliott https://t.co/VncVSCZvvt
- The Guardian (@guardian) June 2, 2022
Please view this complete article here:
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