The Demolition of Russia's Economy

Discussion in 'Politics' started by gwb-trading, Mar 4, 2022.

  1. gwb-trading

    gwb-trading

    #1901     Nov 22, 2024
  2. gwb-trading

    gwb-trading

    #1902     Nov 22, 2024
  3. gwb-trading

    gwb-trading

  4. gwb-trading

    gwb-trading

    #1904     Nov 28, 2024
  5. gwb-trading

    gwb-trading

    Tick-Tock. The clock to Russia's economic demise is winding down.

    Russian central bank takes desperate stand to halt collapsing ruble and fierce inflation
    https://fortune.com/2024/11/28/russia-ruble-central-bank-inflation/

    In a bid to stave off red-hot inflation, Russia’s central bank halted all foreign currency purchases for the remainder of the year, while actively selling Chinese yuan, in hopes of propping up the ruble. The ruble—currently worth a fraction of a penny—hit lows on Wednesday not seen since the start of the Ukraine war.

    The aim is to put a floor underneath the ruble and clamp down on further price pressure leaking into the country through the rising cost of imported goods. The Russian economy is also suffering from a lack of foreign investment caused by Western government sanctions that ban companies from doing business with Russia. With most Russian financial institutions now cut off from trading in dollars, this starves the country of a steady supply of U.S. currency reserves.

    (More at above url)
     
    #1905     Nov 28, 2024
  6. gwb-trading

    gwb-trading

    #1906     Nov 29, 2024
  7. Ricter

    Ricter

    #1907     Nov 29, 2024
  8. gwb-trading

    gwb-trading

    Unfortunately the article is based on figures the Russian government is giving -- which as outlined previously in this thread are less than trustworthy.

    The "growth" in Russia is hot due to it's war time economy coupled with out of control inflation with core interest rates over 21% and mortgage rates over 28%. The Russian "economy" is not sustainable. You can't merely focus on the Russian GDP (which is contrived) without mentioning Russian interest rates and inflation in the article.
     
    #1908     Nov 29, 2024
  9. Ricter

    Ricter

    Week after week, month after month, now more than two years on and still "Russia is losinig!!!!1!"

    It's shrill now.

    Ukraine runs out of young fodder for NATO cannons before Russia runs out of fodder.
     
    #1909     Nov 29, 2024
  10. gwb-trading

    gwb-trading

    You only need to take a look at the Russian inflation rate, Russian mortgage rate and the stories from consumers in Russia to recognize the country is economically flailing. Putin is trading "guns" for "butter" -- and the "guns" are doing so well from a military perspective.
     
    #1910     Nov 29, 2024