Things got a bit hotter today in regards to Ukraine. First, the US is releasing 5 million barrels of oil from the strategic oil reserves in order to drive oil prices down. This is supposed to warn Russia not to mess with Ukraine. Will it work? Probably not, but maybe we will get lower gas prices for a few weeks. The most troubling development though is the announcement by the Joint Chiefs of Staff that the US is ready and willing to use military force to support Ukraine. Are we really going to commit troops in Ukraine? If we do, that will definitely escalate things and cause a major crises that could lead to war. It will also become a game of chicken, which we will either lose or start a shooting war. This is what happens when you are in a weak position. You have to react, commit troops, and risk a shooting war with a major military power.
What do you think?
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