Why Putin’s Not Backing Down — He’s Doubling Down
The Global Economics of How a Third World War Happens
You’re probably worried. Is this going to turn into World War III?
Let’s ask that question another way. Is the West’s strategy to contain Putin working?
Events are moving at lighting speed. Here’s what you should know about the war at this point. Today, the West collectively dropped the equivalent of a neutron bomb on Russia’s economy. No, not just the SWIFT sanctions — but the central banks sanctions. Don’t worry, I’m about to explain.
And despite that, Putin’s stance didn’t change one bit. If anything, he’s more intransigent than ever. He took Ukraine to the negotiating table — and while they were there, under that pretence, it seems he dropped a thermobaric bomb, which is prohibited by the Geneva Conventions. That is stunning bad faith. And it is a signal, too. It tells us that Putin is not backing down. He is in it for the long haul. This is likely to be a prolonged, bloody conflict — and Putin’s ambitions, which spill well beyond Ukraine’s borders, are not deterred. Not even by dropping the equivalent of a neutron bomb on the Russian economy.
If that sounds like bad news, that’s because it is.
