Furthermore we are seeing major euro chemical corps taking preservation measures that may be a signal for a death spiral for the competitiveness of European capital. We also see leaders like Macron pissed that the US is in such a good spot relatively speaking. All of this is only getting harder to watch. The US truly is cannabalizing the west.
A war needs an industrial base and energy to run, and Europe is in a short supply of both right now. Meanwhile, I don’t think US is dedicated enough to fully commit to a war with Russia. Once Ukraine burns out, they’re likely to refocus on China.