this is a major escalation from russia. what s the potential impact of this going forward? it s going to be very painful for those two countries who had been very reliant on russia for energy supplies. i mean, as we ve all known, energy costs have skyrocketed since this war began, but they have been most painful in the neighboring countries of russia that are most dependent on russia to source those materials. so it will be painful for those countries, but you will see some knock-on effects throughout global markets as well. another major economic development overnight which is that deutsche bank which had previously forecast a minor recession beginning next year now says it worries about a major recession. what s going on? deutsche bank is still an outlier, they are still by far the most pessimistic among all of the forecasters on wall street. that doesn t mean what they re saying is crazy or implausible. if you look at a lot of other forecasters they are also saying the risk of
explosions inside russia by saying karma is cruel. who is responsible? and a round of attacks in and around moldova raising fears that russia is planning a new front of war. ound him. he s in adelaide betweween his daily lunch delivery and an 8:15 call with san francncisco. and you can find him, and millioions of other talented pros, r right now on upwork.com (vo) verizon is going ultra! and now, you can too with the offer you just can t miss. for a limited time, get a 5g phone on us! (mom) delightful. (vo) with no trade-in required. (vo) what s not to love! verizois going ultra, so you can get more. obviously, we got termites. well, first thing is, you gotta know what they re bitin on. hey! i told you to hire a pro. i did get a pro. an orkin pro! i got this. got termites? don t call any pro, call the orkin pro. orkin. the best in pests.
builders hands as a sign he had been a soldier. one got out a gun a real one he says, i saw it was cocked. two shots, they hit the concrete wall. i think it was a starting pistol. two other men then came in and talked less, they were drunk, one must have been a boxer as he beat me in the same place on my ribs, breaking six of them, rupturing a lung. broken in parts here, but even as russia closes in still breathing. now, is there a referendum happening in kherson, the first city taken by the russians at the beginning of the war? at this point it seems pretty unlikely. we re speaking to people there and the consistent message has been, yes, they thought there was going to be one today in which russian troops would essentially ask people in a sham vote to declare they wanted to be closer to russian kind of
covered, going to washington, right to the white house, pleading for help, pleading for prisoner swap like we have seen take place here. trevor reed in exchange for konstantin yurchenko, involved in a dea investigation for drug smuggling. of course, trevor reed first, family first. trevor reed, his time in a russian prison, in addition to not knowing when he would get his freedom, has been difficult. he s had hunger strikes to protest not just his imprison, but treatment there, he had symptoms of tuberculosis, more recently he said he broke a rib, he was not getting proper treatment in prison as well. the ordeal for trevor reed, the ordeal for his family, bigger picture we should note, here are the u.s. and russia who are currently o ly on opposite sidea war, speaking, a prisoner swap
fed, the fact that the fed has to raise interest rates to deal with inflation and the others have to do with the reasons why the fed might have to act more aggressively, things like the war in ukraine and russia disrupting food and energy markets, things like the lockdowns in china disrupting global supply chains which at some point looked like they were normalizing, as well as a series of other unrelated shocks, things like the bird flu and the drought in california also driving up food prices. is a recession inevitable? it s not inevitable but i do think it s more likely than people thought a couple of months ago. basically it was always going to be difficult for the fed to get things just right to raise interest rates just enough to tamp down demand and get inflation under control but not too much so that it tipped us into recession, that was always going to be really challenging. historically it has been if not impossible close to impossible. everything had to go right in order