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0 sats \ 1 reply \ @faithandcredit 11 Oct 2022 \ on: Daily discussion thread
I remember reading that war was suppposed to be good for the economy caus it creates jobs and when things get destroyed it needs to be rebuilt which creates economic activity. But today the IMF suggested the war in Ukraine is the primary reason for a slowdown in the world economy. So which one is it :p
The conflict has contributed to the current energy shortage. It's not just the war in Ukraine that is the cause, but it definitely is a contributing factor -- especially when you include U.S. sanctions against Russia. Less energy means higher prices for energy, higher prices for energy means a lot of things, including less production (due to lower demand, or because the product cannot be produced at the higher cost of energy + inputs), lower profits (from companies paying higher energy costs), etc.
This is a global energy crisis so nearly every country will essentially drop a notch down as a result.
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