Ukraine Unexpectedly Strikes Back
The Wall Street Journal reports Ukraine Strikes Russian Navy as War Enters Second Month
That link is not paywalled so you can click to watch the video. Here are a few snips.
Ukraine said it struck the Russian-occupied port facilities in the Azov Sea city of Berdyansk Thursday, setting off a large fire and hitting a Russian warship as the North Atlantic Treaty Organization pledged additional help for Kyiv.
Seized by Russia in the first week of the war that began a month ago, Berdyansk has become a major logistics hub for Russian forces. Footage from the area showed smoke billowing from the berthing area and secondary explosions from the detonating ammunition.
The attack in Berdyansk, nearly 100 miles from the main front line in southern Ukraine apart from the besieged Ukrainian port in Mariupol, is a sign Kyiv has retained significant military capabilities as it pursues a large-scale conventional war against Russian forces.
Footage from Berdyansk also showed two smaller Russian ships fleeing the port after the explosions, one of them on fire.
Before Thursday’s strike, Ukraine managed to inflict severe damage on the Russian navy personnel in the Azov area. Moscow has acknowledged that Ukrainian troops killed the deputy commander of Russia’s Black Sea Fleet, Navy Capt. Andrey Paliy, and the commander of the fleet’s 810th Marine Infantry Brigade, Col. Aleksey Sharov, both of whom were recently operating in the Mariupol area.
Western analysts expected Ukraine to fall within a couple of weeks, possibly even a few days.
It's now been over a month and the Russian advance on the capital city Kyiv has been stalled for weeks.
Another military surprise occurred today with the missile attack hitting at least one large ship. Ukraine has not disclosed how it hit the ship or with what weapons.
Reports first said Ukraine hit the ship Orsk. Now the reports named the targeted ship as Saratov. Other smaller ships were hit as well.
There is no logical end to this war. Putin cannot easily back down and as long as the West supplies weapons to Ukraine, the fight will go on.
Ukraine and Russia provide close to a third of global wheat exports and planting season is about to start.
Anyone who thinks rate hikes will cure these inflation shocks isn't thinking clearly.
Hard Landing or Very Hard Landing
What Can the Fed Do About the Price of Food, Medicine, Gasoline, or Rent?
The answer is nothing or next to nothing. Rates hikes will not impact inelastic items.
For discussion, please see What Can the Fed Do About the Price of Food, Medicine, Gasoline, or Rent?
This post originated at MishTalk.Com.
Thanks for Tuning In!
Subscribers get an email alert of each post as they happen. Read the ones you like and you can unsubscribe at any time.
If you have subscribed and do not get email alerts, please check your spam folder.