Up to 9.1% now, the wheels are coming off.
What does a war do for the economic problems we have? Genuine question, I don't understand how that helps.
It's a dramatic reset. Some country can't / won't pay their debts, someone wants to seize their assets. Or someone decides some other countries assets would be really nice to have to solve their problems. Or heck, it's a great distraction and election booster for the powers that be. Nothing enables those in power to syphon off funds quite like a war - you see the exact thing happening in Ukraine right now ... we have to pour $billions in, with no accountability and receipts to check where the money goes.
Ultimately, it's a big system reset.