Posted on 05/14/2024 4:23:32 PM PDT by MinorityRepublican
Over two years on from the invasion of Ukraine, Russia is the most sanctioned nation in the world. And yet the country’s economy is set to grow faster than any G7 democracy this year. How is this possible?
Back in 2022, Boris Johnson vowed to ‘squeeze Russia from the global economy piece by piece, day by day and week by week’. President Joe Biden promised that sanctions would ‘impose a severe cost on the Russian economy, both immediately and over time’.
Yet these dire warnings never materialised: Russia’s economy has proved resilient in the face of sanctions. Moscow’s flexibility in restructuring its trading relationships and domestic demand has allowed it to weather the storm. Since 2022, China has steadily replaced the European Union as Russia’s primary trading partner and tech supplier. At home, meanwhile, the increase in military spending has given a significant stimulus to the broader economy.
(Excerpt) Read more at spectator.co.uk ...
And remember that, Russia had a third-world economy before the war, and the spending on the war keeps it as a relatively poor economy.
The nation with a third-world economy seemed to have enough to kick the crap out of the Ukraine supported by virtually all the first-world economies of the West, and having those western nations sink into recession.
This was probably the result of the low cost of mass produced hypersonic shovels.
Russia National Government Debt reached 281.6 USD bn in Feb 2024, compared with 287.8 USD bn in the previous month.
Russia's debt is 8/10ths of 1% of the U.S. $35T debt.
Russia is borrowing at almost 17%
The US is borrowing at 4 1/2%
What is it that is so hard to understand?
We can borrow enough to buy Russia if it was for sale.
besides mighty Russia being tied up in Ukraine for almost 2 1/2 years, costing over $200billion dollars and watching the ruble devalue vs the dollar by almost 50%.
https://www.xe.com/currencycharts/?from=RUB&to=USD&view=2Y
That and the bond market are the war scoreboard in any war.
The rest is complete bs nonsense.
You are correct - I confused you with the first poster. Mea Culpa.
“In the latest reports, Russia Consolidated Fiscal Balance recorded a deficit equal to 2.8 % of its Nominal GDP in Sep 2023.
The country’s Government debt accounted for 15.7 % of its Nominal GDP in Sep 2023.”
I stand corrected, Russias debt is only 16 percent of GDP. Astounding, what many sovereign nations can only wish for….the US’s $39 trillion( and rising) is unpayable. History records what happens to bankrupt nations, and unpayable debt was instrumental in their demise.
For that reason alone, it is clear Russia will be around much longer than the US…..Tic, Toc, Tic, Toc……
Spin away, but the numbers don’t lie.
….the “ Waterfall effect” is imminent, it will be sudden, as history shows us.
….we are watching the dollar die….all eyes on the upcoming Brics Summit, 65 percent plus of the worlds population, and growing by billions….
Answer: It isn’t.
Biden's policies are really bitting into small businesses and the lower to middle class. We all know that.
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