The UNTOLD cost of the Russia v Ukraine War.

[WarGamer]

We've heard quite a bit about the economic sanctions placed upon Russia by the West...

But what are the costs to the West?

Just a few things come to mind. Russian stocks are held by Westerners. The State of California is currently holding $1.5B worth of probably worthless Russian stocks in one of the State Pension accounts (CALPRS)

$10B worth of Airliner Leases are probably gone. These airplane leases are bundled and sold to investors just like mortgage loans.

Credit Suisse has $1.7B in Russian exposure

Goldman Sachs goes into great detail:

https://fortune.com/2022/03/11/crypto-stocks-nasdaq-goldman-sachs-recession/


“The Russia-Ukraine conflict has dented our previously optimistic views on Europe’s economic and asset market outlook. Largely due to the sharp increase in energy prices and the potential for additional supply disruptions, our Europe Economics team has revised down their baseline forecasts for 2022 Euro area GDP growth to 2.5% from 3.9%,” Zach Pandl, cohead of foreign exchange strategy, told investors.

Recession risk
Goldman is also blaming the Russian invasion of Ukraine for its souring outlook on the world’s biggest economy. It lowered its full-year real 2022 GDP growth forecast for the United States by 25 basis points, to +1.75%. That’s nearly a full percentage point below the consensus estimate, which could itself shrink should the war in Ukraine persist, Wall Street warns.

[Baked Potato]

1. And yet Americans will be safe and snug tonight.

I could care less how much of a haircut some stockholders take.

CALPERS fund is worth $500 billion.