There are some people out there that thought that global financial markets would be largely unaffected by the war in Ukraine.  Those people were wrong.  This week, investors have received a very rude wake up call.  Stock prices are plunging, commodity prices are going completely nuts, and a very thick cloud of fear has descended upon Wall Street.  The fact that this war has permanently changed economic and financial conditions is starting to sink in, and it is likely that the level of panic will continue to rise in the days ahead.

At this point, even average people on the street are having discussions about the price of oil.  Just a few hours ago, it briefly spiked to 139 dollars a barrel…