Wars warm up, markets cool off (members)

Readers will recall that I’ve not been especially concerned about the market implications of either Ukraine or Gaza but was quite concerned about Iraq. That has tilted back the other way a little in the short term as both of the energy proxy wars heat up.

There was a lot of news last night indicating that the two proxy wars are moving into a new and hotter phase. In Ukraine, 20k Russian troops are again massed at the Ukainian border and NATO is warning:

NATO’s secretary-general called on Russia Thursday to “step back from the brink” as concerns mount that Moscow might be preparing to launch an invasion into Ukraine under the guise of a peacekeeping operation.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.