Ukraine, Inflation and The Fed

March 29, 2023
Originally published FEBRUARY 25, 2022

I want all of you to know we are keeping up with all the latest news about Ukraine and how it is affecting the global economy and the markets.

This past October, I dedicated one of my YouTube videos to inflation. The video was triggered by the debt crisis in the Fall. It seems like ancient history, but the stock market was reacting to Congress' failure to increase the debt limit. Doom and gloom prevailed. Some may have sold in a state of panic.

Of course, now we strain to remember the details. Our advice was debt limit issues were common and this one would pass. It did.

I am resending the video I did in October 2021 because we could substitute Ukraine for the debt crisis and my advice would be the same. The big problem is inflation not the current crisis.

Please no one should assume I am saying war and the debt limit are of equal concern. I am saying their short-term impact on the markets is transitory and pass quickly.  However, inflation, once triggered is persistent and does not go away quickly.

It is interesting to note that increasing debt compared to the GDP and war both are inflationary.

Our outlook is still equities are poised for further growth while the bond markets may be entering a long-term bear market.


We are clearly into a correction with major equity indices down more than 10%. Negative forces include inflation and rising interest rates alongside war is inflationary. I understand there may be a lot of concern, but I encourage you to watch the video to help break down what is happening and what has been happening over time.

I am here if you have any questions or concerns. Please email me at and I will respond back to you directly at my earliest convenience. This is a time we need to stick together.


Tom Curran

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