masterpoop was draftet and died from suicide - several days later.
he was a loser - like all those putin-trolls.
The Demolition of Russia's Economy
- Thread starter gwb-trading
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masterpoop was draftet and died from suicide - several days later.
he was a loser - like all those putin-trolls.
Inflation going through the roof. The price of eggs up 40% this year. Interest rates now raised to 16%. Fine job there, Putin.
Russia's central bank boss has issued a warning that the country's wartime economy is at risk of overheating
https://uk.news.yahoo.com/russias-central-bank-boss-issued-040459753.html
Russia's central bank boss has issued a warning that the country's wartime economy is at risk of overheating
https://uk.news.yahoo.com/russias-central-bank-boss-issued-040459753.html
https://finance.yahoo.com/news/russias-economy-paralyzed-putins-war-001648223.html
Russia's economy is paralyzed, and Putin's war machine survives on cannibalizing state-owned firms, Yale researchers say
Jason Ma
Wed, December 27, 2023 at 1:16 AM GMT+1·2 min read
Russia's economy is paralyzed, and its war machine survives on cannibalizing state-owned firms, according to two Yale researchers.
In an op-ed in Foreign Policy on Friday, Jeffrey Sonnenfeld and Steven Tian sought to push back on recent commentary that cast President Vladimir Putin as one of 2023's big winners amid signs of economic resilience.
But Western sanctions and the mass exodus of multinational companies from Russia that followed have inflicted huge costs on the nation's economy, they argued.
"We cannot fall into the trap of thinking that all is good for Putin, and we cannot jettison effective measures to pressure him," Sonnenfeld and Tian wrote, noting that transferring "worthless" expropriated assets from Western firms to Putin's cronies doesn't make Russia wealthier.
They also listed several other signs that Russia's economy has been reeling.
Since Russia's invasion of Ukraine in early 2022, at least 1 million Russians have fled to other other countries, including top tech talent. That's contributed to a labor shortage that's nearing 5 million workers and has stoked high inflation.
Meanwhile, $253 billion in private capital left Russia between February 2022 and June 2023, Sonnenfeld and Tian said, citing the Russian central bank's own data.
In addition, Russia has lost access to Western technology and expertise that its companies relied on, while foreign direct investment has nearly completely dried up.
Making matters worse are strict capital controls that have rendered Russian assets valued in rubles virtually worthless on global markets.
And sanctions that cut off Moscow from much of international finance have prevented Russian companies from issuing any new stock or any new bonds in a Western market.
"Russia, which never supplied any finished goods—industrial or consumer—to the global economy, is paralyzed," Sonnenfeld and Tian said. "It is not remotely an economic superpower, with virtually all of its raw materials easily substituted from elsewhere. The war machine is driven only by the cannibalization of now state-controlled enterprises."
Even the Kremlin is bracing for more pain ahead. On Monday, Russian central bank governor Elvira Nabiullina said she is expecting more sanctions in the future.
While Russia has weathered the economic storms of the last two years, Nabiullina warned against thinking the country is "ten feet tall," according to a TASS state news agency translation. She added the pressure from sanctions may intensify, and the country must prepare for it.
Read the original article on Business Insider
Russia's economy is paralyzed, and Putin's war machine survives on cannibalizing state-owned firms, Yale researchers say
Jason Ma
Wed, December 27, 2023 at 1:16 AM GMT+1·2 min read
- Russia's economy is paralyzed, and its war machine survives by cannibalizing state-owned firms.
- That's according to Yale professors pushing back on commentary that Vladimir Putin is one 2023's big winners.
- "We cannot fall into the trap of thinking that all is good for Putin, and we cannot jettison effective measures to pressure him."
Russia's economy is paralyzed, and its war machine survives on cannibalizing state-owned firms, according to two Yale researchers.
In an op-ed in Foreign Policy on Friday, Jeffrey Sonnenfeld and Steven Tian sought to push back on recent commentary that cast President Vladimir Putin as one of 2023's big winners amid signs of economic resilience.
But Western sanctions and the mass exodus of multinational companies from Russia that followed have inflicted huge costs on the nation's economy, they argued.
"We cannot fall into the trap of thinking that all is good for Putin, and we cannot jettison effective measures to pressure him," Sonnenfeld and Tian wrote, noting that transferring "worthless" expropriated assets from Western firms to Putin's cronies doesn't make Russia wealthier.
They also listed several other signs that Russia's economy has been reeling.
Since Russia's invasion of Ukraine in early 2022, at least 1 million Russians have fled to other other countries, including top tech talent. That's contributed to a labor shortage that's nearing 5 million workers and has stoked high inflation.
Meanwhile, $253 billion in private capital left Russia between February 2022 and June 2023, Sonnenfeld and Tian said, citing the Russian central bank's own data.
In addition, Russia has lost access to Western technology and expertise that its companies relied on, while foreign direct investment has nearly completely dried up.
Making matters worse are strict capital controls that have rendered Russian assets valued in rubles virtually worthless on global markets.
And sanctions that cut off Moscow from much of international finance have prevented Russian companies from issuing any new stock or any new bonds in a Western market.
"Russia, which never supplied any finished goods—industrial or consumer—to the global economy, is paralyzed," Sonnenfeld and Tian said. "It is not remotely an economic superpower, with virtually all of its raw materials easily substituted from elsewhere. The war machine is driven only by the cannibalization of now state-controlled enterprises."
Even the Kremlin is bracing for more pain ahead. On Monday, Russian central bank governor Elvira Nabiullina said she is expecting more sanctions in the future.
While Russia has weathered the economic storms of the last two years, Nabiullina warned against thinking the country is "ten feet tall," according to a TASS state news agency translation. She added the pressure from sanctions may intensify, and the country must prepare for it.
Read the original article on Business Insider
The US under Joe Biden has decided to take Russian reserves of $600 billion and will give it to Ukraine. Russia has retaliated by seizing NATO nations monies in Russia in turn. The problem with this thievery is confidence and trust in financial transactions would be ended and a new system of transactions where all funds are accounted instituted. BRICS is surpassing the G7 and the US and the currencies of Russia and China are now being linked to gold reserves they have. OPEC will soon join BRICs because even Saudi Arabia knows it cannot trust the US. Compare that to the US $30 trillion and rising deficit and fiat currency without any gold to back it. The numerous press releases extolling the virtues of Bidenomics and how the US economy is doing great is sickening. We are at the edge of the financial cliff and will fall off. Only question is when?
Don't confuse inflation and growth. Two very different things.
Zimbabwe managed to have massive inflation with no GDP growth. Just to cite one example. And, of course, their economy was totally demolished.
Here is some educational material for you...
'Bentleys are all the rage in Moscow': Putin's war warps Russia's economy
‘Moscow is full of Del Boys now’: Putin’s war economy lurches towards full-blown crisis
Russian economy faces a multitude of risks amid high inflation and low investment
https://www.telegraph.co.uk/business/2023/12/30/russia-economy-defence-spending-putin-ukraine-war/
Vladimir Putin has put the Russian economy on a permanent war footing.
By signing a three-year draft budget last month, Russia’s president is preparing next year to spend more than 6pc of GDP on defence for the first time in the country’s modern history.
The scale of this outlay is reflected in that a third of government spending in 2024 will just be on the military.
Part of this is expected to be funded by higher oil revenues, but spending will also come at the expense of other public sectors, including welfare, housing, education and healthcare.
Analysts believe this has left Russia in a precarious position, with a combination of higher inflation, lower investment and a demographic crisis posing threats to the country’s economy.
(More at above url -- article has charts, etc.)
Russia's ENTIRE Economy Is About To IMPLODE