If it’s February you can expect every major corporation to start their obligatory Black History Month post. June you see profiles with the LGBTQ+ flags all in solidarity. These causes are meant to be noble but what effect does it have when the months are over and it’s as if they don’t care for the next 11. This is your common case of virtue signaling as everyone jumps on to show how noble they are. The current conflict between Russia and Ukraine its already started. Many of our friends have switched their profile photos of a Ukraine flag to show their support. All well and good and we understand your intentions. But the latest trend of this signaling is actually wildly different and it involves Governors.
Recently State Governors have outlawed the sale of Russian-made vodkas in liquor stores across their states. Ohio, New Hampshire, Pennsylvania, and Utah ordered boycotts of Russian-style vodkas. You would think this is a great show for the support of Ukraine but sadly, Russian made Vodkas account for a very small percent of the total vodka sales. for 13% of all total sales. $18.5m of the $1.4bn to be more precise. That number is for the total sales of the country so what those states provide is even smaller. According to the Guardian though Russia doesn’t even depend on these sales so the thought and sentiments are there but it’s not helping.
The real way to make Russia feel economic pressure is not through vodka boycotts. No, it will be through global economics. Shutting them off from SWIFT will cripple the country further than anything of the small scale we have here. However, there are reports coming that China is ready to back Russia economically. The alliance between the two could be enough to support each others war efforts as China looks to take Taiwan the way Russia has been moving in on Ukraine.
Investor’s Edge with Gary Kaltbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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