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Old February 24, 2022, 07:22 PM
Dien Rice Dien Rice is offline
Onwards and upwards!
 
Join Date: Aug 2006
Posts: 3,076
Default Some more details on how the war will affect the average person...

Here's an article about how Russia's war in Ukraine will affect the average person in Canada (and also in the USA and many other places)...

They mainly point out that...

- Gasoline prices will rise, because Russia is a major oil exporter. Both the USA and Canada import oil from Russia.

- Wheat prices will rise, so subsequently food prices could rise. The reason why is because both Russia and Ukraine are major wheat exporters.

- Interest rates may rise.

From energy to food prices and even inflation, here's how war in Ukraine could impact Canada's economy
https://www.cbc.ca/news/business/ukr...pact-1.6362992

Also, the price of gold has gone up - which I should have foreseen! (Gold pretty much always goes up in times of turmoil...) Some believe it will go higher...!

Gold price could hit $2,000 'in only a matter of days' - analysts
https://www.kitco.com/news/2022-02-2...-analysts.html

Best wishes,

Dien


Quote:
Originally Posted by Dien Rice View Post
Many people may think... Ukraine is a long way away. It won't affect me...

In fact, it has affected you and everyone else. Gasoline prices have reached a new 7-year high...

That's because Russia is a major oil and natural gas producing nation... Anything which can disrupt the supply of oil sends the gasoline prices soaring...

I'm currently working with some people in the money transfer business. Money transfers are an interesting business... When there's disaster, it's good for business. That's because people send more money to their family back home in the disaster area, to help them out...

If Russia goes ahead with a full-blown invasion of Ukraine, Ukrainian migrants around the world will be sending more money back to their families in Ukraine, to help them to survive...

Another business which would be doing well is the arms trade. Arms and other military equipment are already being sent not only to Ukraine, but the the nations surrounding Ukraine and western Russia too, like Poland, Lithuania, Latvia, Estonia...

Those are some consequences... I'm sure there are more I haven't thought of... Any thoughts on this?

Best wishes,

Dien
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