The Russian invasion of Ukraine — and the US/EU/NATO sanctions response — doesn’t just up-end the global supply of grain crops (Russia and Ukraine are both top exporters of wheat) and other foods. As Reuters reports, it also affects the global supply of the fertilizers that power farming elsewhere. Russia is the world’s top fertilizer exporter, followed by China, a top “trade war” target of the last few years. What does this mean for Americans? Probably not starvation in the streets, but food prices are going to keep soaring, probably even more so than they have the last couple of years. More of our incomes will go to putting food on the table, and less to other things. We’re getting, in a word, poorer.

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