The International Monetary Fund has said it expects the Russian economy to grow by 1.5% this year despite the US-led Western sanctions campaign against the country, which President Biden once vowed would “turn the ruble into rubble.”
The Russian economy shrank by 2.1% last year, but it has bounced back as Russia is adjusting to the sanctions. The Wall Street Journal on Wednesday called the economic war a “stalemate,” comparing it to the situation on the battlefield in Ukraine.
The report said the sanctions initially made it harder for Russia to acquire microchips and other technical components, but Moscow then found sanctions loopholes through neighboring countries. Russia has also had no problems selling its oil as its found new markets in India and elsewhere in Asia.
The Journal cited analysts who said the sanctions will hurt Russia in the long term, but Moscow continues to forge stronger ties and significantly increase trade with China. An alternative to the US-dominated global financial system is slowly being formed by Russia, China, and other countries targeted with US sanctions.
The US has successfully crushed the economies of smaller countries with sanctions, but the sanctions on Russia were the harshest imposed on such a large economy. US sanctions on smaller nations are losing some of their power as China and Russia offer alternative markets.
For example, Iranian oil sales in 2022 exceeded those in 2016 before the US withdrew from the nuclear deal in 2018 and reimposed sanctions on the country. Most of the new Iranian oil sales have been to China.
In the long term it strengthens Russia as they become more self sufficient. It seems that they survived the sanctions, and soon the sanctions will be irrelevant as everyone adjusts to the new trading realities.
It was certainly stupid to think that Russia could be crushed with sanctions. It hasn’t worked with Iran, or Venezuela, or Cuba(!), so imagining that it could with Russia was truly idiotic.
Beyond that, it seems not to have occurred to our geniuses that going too far, too obviously, might trigger undesirable responses by much of the world, including the Global South.
Attempting to freeze and seize Russia’s foreign reserves (looks like they succeeded with about half) was an incredibly reckless move that is likely to turn out to be a game-losing own goal. That’s unprecedented and it should have been obvious that it would cause nations everywhere to wonder whether it really is a good idea to permit dependence on a hegemon that would do such a thing.
Russia is blessed with abundant natural resources. With the new BRICS+ trading system, Russia will endure.
The new proposed BRICS gold backed digital currency that Russia wants is getting serious pushback from China though.
China Post just printed a obit a few days ago sharing it is not a good idea for now.
The Post is run by the Party so unless there’s inner Chinese politics being played out in public (very unlikely) they want some concessions from Russia in regards to how it is set up still (that could be) or it is off for now.
Yeah, the gold-backed digital currency idea is not solidly supported. It shouldn’t be be, it’s an inherently shaky idea.
But alternatives to the petrodollar as sole reserve currency, and commitment to the BRICS+ trading system itself, are definitely solidly supported, including by China. And they are essential for a multipolar world.
Shaky?
Gold backed vs. Fiat dollars?
I kind of differ with you on that one…lol.
Perhaps it’s more China’s currency, despite their manipulations is the de facto dollar alternative right now, not the Ruble and they likely do not want to disperse the power it gives them to a basket of other currencies.
Not enough gold. Not nearly enough. Period.
You don’t know how gold back currency works do you?
Gold is scarce?
A BRICS Buck will just be worth more as that gold rises in price.
You should work on manners. You sometimes have valuable input here, but you all too often act like an asshole. Stop it.
Really?
A asshole demands I comport myself a certain way or reply so his feelings aren’t hurt?
Really?
You made a simple mistake because you were not thinking about how gold backed currencies work (gold is scarce, that’s the idea) and I replied to it.
Now you are embarrassed so much that you lashed out with this demand…
Wow…..
This is a comment section, not two people “reading” each other (you really believe I wanted you this upset?) as they have a personal face-to-face conversation about a current topic….give me a break…lol.
Kids…
Yeah, well . . . You clearly don’t understand the difference between harshly to provocation and behaving consistently with gratuitous nastiness. I just don’t have enough patience for it.
Why? Do you have a problem with digital or gold-backed part?
Gold-backed or at least gold-pegged currency provide financial stability. A currency tie to physical resources prevent boundless currency creation and a fictional economy like within Anglo-American empire.
It will be interesting to see if BRICS can put together a gold-backed settlement instrument. The main problem, as the French learned, is who controls the gold end of things. They have to be able to trust that they won’t wind up witha Nixon in charge who might just close the redemption window at will.
Or FDR that illegally seized private gold, then defaulted on international debt by changing the price from $20/oz to $35/oz. (actually, the gold had already been debased. the coins weren’t pure gold).
If all the gold in the world were used to back currencies, it would cover about 10% of the amount currently in circulation.
It won’t work. There’s not enough gold.
And I definitely have a problem with “official” digital currencies. If you aren’t a fan of a total surveillance state or states, you should have a problem with it, too.
One troy ounce of gold could back all of the existing currency in circulation. The value of each unit of currency in circulation would be infinitesimal, but it could be done.
One of the nice things about digital currencies (although, like you, I dislike “official” ones) is that gold can be traded (and used to back currencies) in those infinitesimal amounts.
“The value of each unit of currency in circulation would be infinitesimal, but it could be done.”
Yes, but things would be ridiculously impractical, and dangerous, long before reaching that state, assuming widespread use of gold to back the official currencies of large and powerful nations.
I understand the attraction of digital currencies, but I think people pay too little attention to the rapidity with which the underlying technology changes and the risks inherent in that, and in the inherent fragility. We have, for instance, print on paper that is perfectly legible centuries after its creation. Think of all the humans who entrusted digital information to tape drives, floppy disks, CD-ROMs, etc. Sure, much of it has been transferred — and much is effectively lost.
Anyone who can interrupt your electricity or communications links can prevent or delay your access to digital data of any sort. Anyone who can hack into the virtual vaults where your digital treasure is stored may be able to take it, move it, make it vanish, etc. And, of course, it is trivially easy for people with high-level access to the pathways your treasure travels to know how much you have, where it came from and what you do with it. That’s true whether your digital treasure is official or not.
Vis a vis gold, the “ridiculously impractical” method is to try to use it as currency any way BUT digitally these days. The amounts used for small purchases are just too small be be practical for minting, etc.
I have some artifacts of one attempt to issue metal in small purchase amounts right here on my desk. The company was called “Shire Silver” and it sold laminated cards with small amounts (single-digit grams) of gold or silver wire. Fun, but so far as I know it was never actually used outside of some festivals/events specifically aimed at metals enthusiasts.
Yes, there are all kinds of problems with going digital. Some of them are exactly analogous to the problems with using cash (i.e. losing your “wallet,” whether that wallet is a piece of sewn leather or a database on a hard drive), others are exactly analogous to the problems with using credit/debit cards (the network is down, the power is out, etc.). It’s kind of a wash … except that good cryptography can make it very difficult for your currency to be stolen. When you hear about cryptocurrency theft, it’s almost always someone doing typical computer hacking into a custodial exchange. They’re not breaking the cryptocurrency’s cryptography, they’re breaking the exchange’s accounting/transfer systems.
Government currencies — including ones supposedly backed by commodities — are untrustworthy, and taking them digital just adds new levels of untrustworthiness. But I could see BRICS doing a reasonably good job with one, within the inherent limitations, by putting one of the smaller regimes — small enough that its main economic asset would become being a trustworthy “bank” — in charge of the gold custody element.
Gold doesn’t need to cover speculative, inflationary currency. That is the main function of resource-backed currencies. To restrict funny money and make it harder to cheat. Such currencies need to go back to source.
But I agree with you about CBDC.
True. They will not only endure, they will prosper and leave Anglo-American empire behind. I’m just concerned about all that human sacrifice.
Lol
How much time have I wasted trying to defend myself from Mr. Logistics who claimed the opposite whenever I posted on this topic?
So annoying that I could not broach the topic in a comment without a efing logistics lesson on how wrong I was replete with satellite analysis of factory smokestack output (yes it was that idiotic).
And now this site confirms my posts…
Claimed the opposite of what?
Do not even try.
You argued the opposite and I do not want to waste time with your idiotic free market libertarian nonsence.
Just admit you were wrong and move on.
dude you are wasting your time.
my dog saw a squirrel and charged out into the yard.
is she an idiot? or was she just wasting her time.
I know
Libertarians just argue nonsence then can’t even admit they were wrong even when the publications they work at publish works that show they were wrong.
Like the communists, libertarians were never practical.
So true.
It works so well in books though.
Everyone of those “intellects” will write a 12 step guide to their choice of utopia, but none of them have managed, created or developed anything in the real world.
So true.
I ran my own businesses prior to my longest stint in college which helped me greatly. I honestly did not need the rudimary stuff to understand concepts because of that.
Afterwards I applied what I learned (it’s amazing what portions of classes you use and don’t;-) and would take classes as needed (took some soil/chem classes to help on a job and possibly waste my time getting a Masters if I decided to)
Reading a few books or having a few friends with degrees do not make one’s 12 step plan to utopia realistic especially in a blog comment section.
You assume libertarians are a monolithic group. They aren’t. Knapp doesn’t represent the majority of those that consider themselves libertarian. His views are often more progressive than libertarian. And, imo, not at all practical.
He will deny it, but he has an anti Russian bias. Often he uses neo-liberal and even neo-con talking points and phrases.
As far as Russia goes? I have always believed that Russia would economically perform far better than Western media pundits claimed.
Few understand Russia’s position in the world now. BRICS nations are increasingly important. Russia’s position is powerful. China and India are often at odds. Russia is on good terms with all.
By belief is the USA and its subject states will try to undermine the BRICS… and will fail.
I know about how Libertarians differ and most are not like Knapp.
In fact I’d imagine most understand economics better than our favorite moderator.
As to undermining BRICS.
Sure, the G7 will try and commit a lot of bluster while doing their decrying, but when BRICS’s combined GDPs is larger than the G7s and the gap between will just grow (from both growth and membership) it is not going to happen.
One can easily see how the war has pushed BRICS into growing in a myrad of ways.
Besides if one reads foriegn economic press from the obscure areas you can see alot of modern economic growth in places you never here about in western press. All of those ‘stans with a bunch of unprouncible (for me) letters before them are growing. They are getting Amazon-like warehousing systems being built on borders with facilities being built to increase throughput of goods between borders.
To read western press you’d believe these countries were full of cave dwelling goat herders with camels.
I’m pretty much the opposite of a progressive. Progressives support a managerial state that tends toward increasing its power toward totality.
And these days, despite the name, most progressives are mossback conservatives, fighting desperately to conserve the 90-year-old New Deal and 60-year-old war on poverty, albeit sometimes placing them in new containers (e.g. “Green”) to make them seem new, trying like hell to keep the means of production out of the hands of gig workers for the benefit of unions that work for union bosses and politicians rather than for their members, etc.
I do have an anti-Russian-regime bias — and an anti-Ukrainian-regime bias, and an anti-US regime bias, and an anti-Israeli-regime bias. I’m an anarchist, go figure. Not pretending that the Russian regime is any different or better than others isn’t a particular bias. It’s just an acknowledgement of reality.
Culturally, if I have any bias concerning Russia, it’s a pro, not anti, bias. I’ve always been fascinated by everything from Russian Orthodox Christianity, to the Russian attempt to make Marxism work, to Russian variants of anarchism, to Russian literature (older like Dostoevsky and Tolstoy, newer like Zamyatin, Solzhenitsyn, even newer like Lukyanenko). Not as big a fan of Russian music, other than some bootlegged punk from the early ’80s that I used to have on cassette, but that’s probably because I don’t hear a lot of it and am not a huge fan of classical music, although I can tolerate e.g. Rachmaninoff.
The next time you see me using a “neo-con talking point” other than to critique it because it’s a neo-con talking point will be the first time. And there won’t be a first time.
The pseudonymous troll seems to be attributing things to me that I never said. As usual.
I do recall Russia as a “gas station posing as a country”, Russia being a nation with the economy of Nigeria, many repeated disparaging remarks on the Russian military that originated from US state mouthpieces like the NYT, the Washington Post, CNN and MSNBC. You also opined that Russia would likely break up into several successor states. That last is a dream of the Neo Lib, Neo Con faction that rules the USA with an increasingly iron fist.
As far as the Russian regime? While it is true that that regime represents itself first, that regime also has improved the lot of the Russian people far better than the US regime has the American people.
Note that the resurgence of Orthodox Christianity was openly advocated and facilitated by the Russian regime. I happen to be agnostic, but I appreciate a population that sees merit in traditional values rather than civilization subverting wokeism.
I doubt you’ve ever heard “gas station posing as a country” from me unless I was quoting it to disparate the concept.
I do recall making an economic comparison of Russia to Nigeria, but I don’t recall what the context was.
My disparaging remarks on the Russian military come from 1) personal experience and 2) personal observation, not from US state mouthpieces — and Ukraine was a learning experience in that I set aside the person history and expected them to do much better than they did. In other words, I got fooled twice, not realizing that militarily Russia is Iraq circa 1991, only with some inherited nukes.
As for Russia breaking up in to several successor states, yes, that will eventually happen. It will also happen to the US. Just like it happens to every regime eventually.
Regimes don’t “improve the lot of their people.” To regimes, people are livestock. They may slaughter, starve, abuse, etc. less, or they may do so more, but their existence is always a negative variable where “the lot of their people” is concerned.
The Russian regime under Putin did the same thing to the Moscow Patriarchate with Kiril that Stalin did to it with Sergius.
We already did review the gas station thing. You denied it then and I gave you the quote and time frame reference. You admitted it then, and now you’re back into denial mode again.
You, once again, take a quote from me out of context. I said the Russian regime improved the lot of of the Russian people far better than the US regime has for the American people.
Another disparaging remark on the Russian military. Not surprised. Now it’s an Iraq comparison. Presumably you believe the US could defeat the Russian military in a few weeks. And that opinion is very close to the Neocon/neo liberal talking points.
You obviously view Russia as a third world nation. One that has nukes? Nope. Those nukes came out of the Russian part of the Soviet Union. And Russia is a country that still builds them and keeps the current nukes operational. Nukes need to be re processed at regular intervals.
Yes, a country that has hypersonic missiles. Not inherited either. While the USA hasn’t yet. Despite a trillion dollar military budget. Russia does that along with advanced aeronautics all with a budget 8% of the USA. Russia is a country that has heavy space launch capability. Russia
out produces the US in most refined industrial materials.
As far as Russia breaking up? The vast majority of Russian Oblasks are overwhelmingly Russian speaking. I recall you claimed major areas of Russia are dominated by people that speak languages other than Russian. So, yes, Russia may change in form someday. Not happening now or in any foreseeable time frame.
“Presumably you believe the US could defeat the Russian military in a few weeks.”
That depends on the kind of war.
The US military could not invade, conquer, and occupy Russia. Not no way, not no how, even absent a nuclear escalation.
But in any conventional military scenario, the US punches well above the weight of similarly sized/equipped Russian forces. That doesn’t reflect well on the US, or say anything about personal superiority of soldiers or anything like that. It’s just that the US spends a full order of magnitude more on maintaining an edge in the ability to kill people and destroy things than the Russians do. If I was betting money, I’d bet on a US infantry regiment with its normal supporting armor, artillery, air defense, and air support complement versus a Russian division with same.
Disagree. That might have been the case in the 1990’s. Not in 2023. The US military couldn’t even defeat Isis. But Russia did exactly that. The US military couldn’t beat the Taliban. Jt is poorly led by political generals as anyone who isn’t a sycophant doesn’t make it past the political class overseers.
“The US military couldn’t even defeat Isis. But Russia did exactly that”
Sure, if by “defeated ISIS” you mean “are still fucking around in Syria fighting ISIS.”
The Russians were smart enough to tuck tail and run out of Afghanistan in only 10 years instead of dragging it out for 20, though.
The Soviets were smart enough……. Corrected no charge. Still back in the 1980’s Knapp.
Yes. Fighting a remnant of Isis. Your point? Guess it needs the USA stealing Syrian oil and grain to achieve total victory.
“You obviously view Russia as a third world nation.”
A third world nation was a nation that was aligned with neither NATO nor the Warsaw Pact. Even if we assume that the term continued to have meaning beyond the collapse of the latter, Russia would clearly not qualify for the term. It’s definitely “aligned” against NATO.
If you mean “third world” as a synonym for “primitive,” not at all.
TRADE
ECONOMY
Third World Countries: Definition, Criteria, and Countries
By CAROLINE BANTON Updated June 08, 2022
Reviewed by PETER WESTFALL
Fact checked by TIMOTHY LI
Third World
Investopedia / Candra Huff
What Is the Third World?
“Third World” is an outdated and derogatory phrase that has been used historically to describe a class of economically developing nations. It is part of a four-part segmentation that was used to describe the world’s economies by economic status. Third World falls behind First World and Second World but was ahead of Fourth World, though Fourth-World countries were hardly recognized at all. Today, the preferred terminology is a developing nation, an underdeveloped country, or a low- and middle-income country (LMIC).
Yes, my dog always did that too.
A dog is a dog. It was good for a laugh.
https://uploads.disquscdn.com/images/7dfd98dd019fb7b05fb95f87f56cbecb84f64795c1adbbcfda2f6b9b244a308f.gif
Donny!
Do you need a hug?
Even you have to admit Ukraine is just committing there soldiers to a horribal death while losing that war.
I don’t have to admit that Because it’s not true.
BTW, I’m a hugger so i will never turn one down. Yeah, i’ll take yours.
Sure Donny all is swell for Ukraine…..if you are kind of goulish…but you do you 😉
You have an odd way of showing that you want “Mr logistics” to leave you alone.
I have no problem conversing with him as I do you and others.
Have you ever replied to me, uninvited, call me a moron in some manner, then want to get into a long drawn out conversation repleat with production numbers and analysis from your favorite sources?
As I shared to someone else these internet pissing contests are just silly versions of the weekly presenting of one’s econ, marketing, etc. paper that is reserched with good varied sources (you’ll get hit for sourcing) edited with footnotes, to one’s class for debate as you will with theirs as well as a occasional visit to a previous paper.
We even had a class where we divided up into groups then further devided into a for or against group and attacked a topic that way.
It was over the Americans with disability Act, no one wanted to argue against (how can you win that?) but me.
The day of the debate, someone jumped to my side after I shared my materials prior to presentation. The class sided with us and my argument that it was a societal good, wrongly funded (society wants but business pays?) with the way it was written was wrong to allow administrators and judges to decide on accomendations instead of being spelled out helped to (and was just recently visited in the SC via water/EPA and I was right on that too according to them)
a A for both of us and she did not even do the work, did not care;-)
This ain’t it, no matter how he wants it to be. This is a comment section…lol….lordy it’s so funny to compare a debate here and there…lol
There’s of others out there for that.
We can get along, even teasing each other, but what he wants is someone’s else’s fun time and they can play the whole day away seeing who has the best stream of piss.
That really doesn’t have anything to do with what I said. You told him repeatedly to “leave you alone”. If you really want someone to leave you alone, don’t bait them.
Leave me alone in regards to his constant want to debate is what I want, heck I even “like” Donny J who disagrees with me totally but the guy does not go all detailed post with factoids (that don’t acually address the topic in proper context) does he?
The Mr. Logistics refers to a big long series of replies of his that NATOs logistics would keep Ukraine supplied until Russia’s manufactoring base would become a big issue for them.
Satellite smokestack analysis was even provided in multiple threads as he ridiculed and tried to browbeat into a pissing context ( which once again is a poor substitute for a real disscussion)
I predicated we would start seeing this issue here (NATO supply vs. Russia) with my view not his being the one presented and here we are and shared I’d tease him when it happened…lol.
I will tease him forever and watch him weasle about it.
It became obvious he was using me for entertainment so why can’t I do the same?
Don’t look if it bothers you.
Smoke something instead…lol.
I already smoked something. And potheads “look”. I was just sayin’. Carry on. But if you did really want to be left alone…well, you know.
Come on…
Two strangers want something different and one of them does not like to used for entertainment nor esteem building so I share that and can be quite “cutting” as I do.
Why do you care?
I rarely read your posts when you reply to others and when I do I don’t really care if you are arguing with them (except for Donny; he’s hilarious;-) so why should you except for the entertainment value?
Try to look at the funny side perhaps?
Entertain yourself son..lol.
That’s all this site is for and a bunch of confirmation biasing musings by its scribblers.
I really don’t care. But I read comments. If you hadn’t repeatedly asked him to leave you alone, I wouldn’t have said anything. I just politely pointed out that if you want him to leave you alone, then don’t bait him. Nothing more.
I know, but you would not believe the angst I caused among so many strangers that actually care as if this site something more than it might should be…
You just don’t get it though, I warned him I’d tease him when the website he works for publishes pieces that verify my position he was arguing so stridently against and mocking my use of IMF data.
Did you seriously believe I wouldn’t follow through especially when the upcoming piece I warned would be appearing soon here used the same IMF data that I used and mocked by the dude?
He’s a big boy and to be honest it’s not like everytime this site mentions it, I will bring it up again each time
I bid you a good night, this is beat to death, resurrected, and beat down into silliness…
What I do get is that you told him to leave you alone repeatedly and then you baited him. How ever you want to rationalize doing that is up to you. But that is what you did.
Then you misinterpreted interactions between two strangers.
Why do you care?
Honestly, why is this your business?
Your constant dragging this up just continues this and I share stuff that hurts others needlessly.
Why don’t you leave this between the two of us because this really is none of your business at the end of things and there is no need for me to keep trying to explain myself to someone not involved.
Have a nice day though and don’t take harsh direct words as any more than exaperation at others (definately not only you) getting in the middle of something needlessly.
And you constantly making dumb ass excuses just keep bringing me back for more. You said you wanted to be left alone and then you baited him (more than once). The fact that I’m sticking my nose in your business doesn’t change that FACT.
Get a life.
This is between two people who are strangers to you.
Do you have a life beyond this comment section?
If I want to ef with him or he wants to ef with me it is not any of your business.
In fact that you keep at this just shows how much this comment section matters to you personally which one can read all sorts of stuff into.
Do you somehow believe he needs you to stick up for him?
And that you’ve fought for your internet friend?
Sticking up for the mod, who does not need your help, is cute and sad at the same time.
How many posts have you devoted to defending your imaginary buddy?
His ears have to be burning (which is why I don’t want to keep “explaining” my side because it’s hurtful ) but he’s refraining (mostly) from jumping in to your quest to defend a total stranger.
That ought to tell you something but no, you keep at it.
Get a life….
I’m not even “defending” him. He is irrelevant. I would have been asking you why you would bait someone that you repeatedly asked to “leave you alone” regardless of who it might have been. It had nothing to do with who you were talking to. It caught my eye and I commented on it.
We’ve established that I’m a nosey fucker that doesn’t have a life. What we still don’t know is why anyone would bait someone when they previously asked that same person to “LEAVE ME ALONE”. Either you didn’t really want to be left alone or you don’t understand that baiting someone that you said you didn’t want to be bothered by, might once again bother you. It’s that fucking simple.
Wow….
You have no life and are living a imaginary one here.
You are so upset….
Are you in wheelchair or homebound?
Is this site your world?
If you are homebound I can understand how this website and how someone behaves on it would matter to you and the world you have constructed in your lonely mind ….lol
You are so involved with this as if this is important to you…..
So so important to you…
The sad sacks one meets on the ‘net.
And YOU keep replying! Actually, I just got done with my bench routine and sat back down for some entertainment.
Dude I’m just making fun of you and your need for a nice calm comment section.
You really believe I care what you think or believe?
I actually got you to tell me that you just worked out to prove you aren’t a homebound pathetic soul.
I hooked you and you responded…so simple and easy to do with some of you…..
You are just a some pathetic guy all worked about strangers’ interactions in a thread that does not involve you, aren’t you?
That is kind of sad (pathetic, strange, weird; take your pick, they all work;-) that you care so much but here we are, aren’t we?
And yet you continue to reply. I guess I’m not alone pathetic wise. Now try really hard and prove how you’re the better person.
Oh, I am?
Or perhaps each reply I make I get to make fun of you?
I’ve literally hooked you …….
More than a couple of hours have past, you easily could have occupied yourself with some simplistic US=bad post like you normally post, somewhere else, so your comment board buddies can clap like trained seals but no….
You are back here all upset, stomping your little feat like a child who needs a safe space and Crayons.
This has upset you soooo much has it not?
But you keep sticking up for your imaginary buddy…lol.
Or perhaps you just keep proving my point. I’m not talking to myself. Walk away. You can’t.
Nah…
I rather make fun of you.
How many posts is this from you bitching about me?
I knew you were a simple stoner when you post your US=bad and get the giggles over weed post nonsence but your angst at my behavior towards this site’s mod is just so funny.
This site and how I behave on it is sooooo important to you ….even Donny J isn’t this childish when he’s pretending he’s mad at me.
But you? Lol!
Please make me laugh at you even more…
Once again, I wasn’t defending anyone. I found it odd that you whined like a little bitch because Knapp wouldn’t leave you alone and yet you repeatedly baited him. That was all. And you’ve been whining like a little bitch because I pointed that out to you. We can do this until the cows come home but that’s ok. I get some good entertainment by pissing off whiney little bitches.
Bait, teased as promised…who cares how this is described other other than you?
I told him I do not want to engage in debates ( notice that I almost never pop into a thread and start a argument by first telling the OP they are a dummy in some manner then want a debate.)
I understand some want that but I don’t.
That is what I keep telling him to leave me alone about, the debates he wants and so many others are willing to do.
If you are unable to understand that nuance then you are not very bright.
That you actually keep wanting this to go on forever and me agree with your wrong perceptions of something between two strangers to you, shows to me you have issues.
Real issues beyond this stupid kerfuffle that perhaps you need to talk to someone about to explore why this matters to you so much?
We are two strangers having a disagreement and you a third stranger that needs to be involved…
Just how weird are you?
13 hours later and this bored weirdo keeps at it and actually made yet another reply to me…you meet all kinds on the net….
And here it is! Nice try shaming me into not replying. Like I said, all I did was make a suggestion. You can twist yourself into a pretzel trying deny what you “meant” but I know you’re full of shit. Now whine some more. And keep telling me how weird I am to be doing the same god damned thing you’re doing.
Thanks for the support, but the day I’m discommoded by the whining of a pseudonymous troll will be the day I retire. It’s no biggie.
It wasn’t support.
I’m going to ef with him just as I promised I would on this topic as the site he works for verifies my posts that were so mocked.
The IMF numbers are not exactly new, btw, and I was mocked for using them is how specific this is to previous multiple threads
And here we are commenting on a story using the exact same sourcing I was….just to be mocked by the site’s mod for using IMF numbers and here they are in this site’s offerings as factual.
So delicious this is, to be honest….while being funny, so funny….
“just to be mocked by the site’s mod for using IMF numbers”
In your imagination, perhaps. But not in real life.
Just stop it.
I remember very well if you don’t.
I hate it that we can’t have a private conversation around here without you always poking your nose in.
Go play with someone else.
You offer nothing to me I want to bother with when you are like this.
Pretending something that didn’t happen happened is not “remembering very well.”
We certainly argued over Russia’s industrial capacity and the current state of its economy. But I have never “mocked” anyone, including you, for “using IMF numbers.”
“but the guy does not go all detailed post with factoids “
I don’t use and will never use FACTOIDS.
Because a factoid is something that looks like fact but fact is not fact.
No, to be serious, it is something does not pertain to the discussion except tangently.
The fact the US produces more oil today than ever before is interesting but does not really address the observation we do not produce enough to control the overall market as the point was about.
Well, yes, it is correct to observe that the US does not produce enough to control the overall market.
But only because there’s no such thing as producing enough to control the overall market.
Lol
Back to restating what I shared so you can refute it with your self-taught Libertarian
economic nonsence.
You are so funny but when that is what you do, constantly, it belies your insecurities.
The world of a barely paid internet blog moderator who so wishes he was something more….lol.
That is because Russia is now on the other side of the unipolar world…!
Can anyone say ‘backfired’.
Those are the same analysts who told us that Russia’s economy would collapse long before now. They said then it was just a gas station with nukes, not a real economy at all. Now they say it is weak and teetering.
What is weak and teetering is Germany and the EU that depends on it. What is less than Russia’s growth rate is the US growth rate. Smoke and mirrors. Was that the real problem that inspired these guys to gin up this war?
Was it Nikita Khrushchev who said the US is a paper tiger? Even if it was someone else, the US is sinking in its own sea of digitized paper debt. Russia is defending China, Korea, Iran and many others wanting to live in a world free of US authoritarian sanctions. Russia is defending world freedom solo.
Russia is defending world freedom solo?
Yes, by invading and annexing neighboring countries.
Lol
Being $32.7 trillion in debt is the price we’ve paid for our forever wars. The rest of the world will eventually stop chasing the petrodollar and adopt a new gold-based petroyuan. America will be stuck with lots of extra dollars that would no longer be in demand. Those dollars would quickly return to the USA, which will lead to massive inflation. Bring the troops home where they belong. A defensive military will be all that we can afford.
… the hollowing out of the productivism, and pervasive institutional corruption make it impossible to recover, producing an increasingly demoralized working class, … and all while it wilting in the enervating hell of global boiling.
Those troops will be needed to put down the food riots.
… and the flood of migrants to the remaining survivable climes.
Correct ….
Hopefully it will be the petroruble and petrorupee and petrolira as well. Multipolar rather than just a different dominant currency.
I am sceptical that a huge dramatic overhaul will happen this year, Changing business processes is a multi year project.
Right now there are 2 currencies that can rise to replace the dollar and euro in financial transactions: the yuan and the ruble. The rupee is not ready. South America wants to create one.
A lot of work is needed to make this a reality.
Ummm…OK.
https://apnews.com/article/russia-ruble-value-declines-2629f2b9c1efce62de2f414f4bb787e5
Pepe Escobar thinks this would probably be a trade instrument rather than a sovereign currency. “It will be designed to compete against the US dollar in trade, initially among BRICS+ nations, and capable of circumventing the hegemonic US dollar ecosystem.”
The Euro is proof of concept. It seemed to get off the ground and be stable pretty fast.
Almost the same thing as the Fed dollar. Purely speculative fiat currency. But unlike the Fed dollar, it doesn’t have a resource tie. It function purely on totalitarian dictate.
The ruble?
🤣🤣🤣🤣
You Russian bots are so ignorant about…SO much.
The Russian economy is only the 11’th largest in the world. And falling.
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
https://tradingeconomics.com/russia/gdp-growth-annual
Even Canada – with less than 40 million people – has a bigger GDP, for ‘f’s’ sakes.
And it has far, larger oil reserves.
https://en.wikipedia.org/wiki/List_of_countries_by_proven_oil_reserves
And no one (I have heard) is talking about using it as a reserve currency.
And as Rational Thinker points out…the ruble is junk right now.
https://www.usnews.com/news/business/articles/2023-08-04/ruble-hits-lowest-value-against-usd-since-early-in-ukraine-war
I guarantee you that the Russian ruble will NEVER replace the dollar in international transactions.
Or the Euro.
Or the Yuan.
Or a bunch of other currencies.
It’s semi-garbage.
But you delusional Russian bots just cannot see the truth.
Have a nice day, comrade.
Yeah, the ruble can definitely replace the Dollar…
In a parallel universe maybe.
You should know since you seem to spend the majority of your time there clown.
I hope they will come up with something BRICS-neutral but I think it will be the yuan. It really doesn’t matter as long as the Fed dollar (and Fed bitch euro) is cut out of their markets.
While the U.S. has squandered its capital built up over the years on foreign wars(actually the U.S. has been living off of borrowed money), countries like China are setting up trade agreements in countries all over the world to obtain the resources they need to continue to grow. Who is the stupid one here?
I have to think that this was intentional, part of the end-cycle that every empire has gone through in its death throes. The evil cabal that runs everything profits from empires coming as well as going.
Sad but true.
Great. Then go move to China. Life there is much better.
Actually it is.. The happiest and healthiest people I have ever lived with.. No fatties though, so you probably won’t like it..
Oh wow. Happiest and healthiest.
We should all move there then.
Well, i’ll wait for your postcards
Can’t be reasonable with idiots like yourself. What the hell does me pointing out some facts have to do with living in China you dipshit. You no doubt have to be the dumbest person on this site. Makes one wonder how you managed to sign up?
Oh, the hypocrite got butt hurt.
Sure and 0.05 trillion of that is due to the Ukraine war. compared to 3 trillion of that due to 9/11 and our insane reaction to it.
“…despite the US-led Western sanctions campaign against the country…”
really? which country. OMG is it Iran? or maybe Venezuela?
idiots.
edit = yesterday 08/03 was my birthday. suddenly i am an old man. what
“The plan cannot be to remove Russian President Vladimir Putin. The plan cannot be in sanctions. Sanctions are absurd, we will not achieve anything with their help,” he said. “They did not even break Slobodan Milosevic with sanctions. They go from war to war. And what am I supposed to be, a slave of America?”
-Croatian President Zoran Milanovic
BlackRock, Vanguard, State Street, Fidelity and more which control an estimated 25 trillion dollars-equivalent in assets.
World ‘s GDP stands at 90 T.
What does GDP mean for safety security and independence of nations when 3 companies own this real asset compared to the phony -real- semireal GDP?
Blackrock commnads 5 times the GDP of Italy .
What does money achieve nowadays?
Aaccording to the U.S. Special Inspector General for Afghanistan Reconstruction , congressional appropriations for reconstruction in Afghanistan reached $109 billion in today’s dollars by 2014.
Marshall Plan delivered $103 billion in 2014’s dollars to 16 European countries between 1948 and 1952.
One would be hard pressed to find a hospital, a functioning highway of 50 miles or a college worth attending in Afghanistan today. Its not so because Takiban demolished them.
Russia’s economy might be tanking but the upswing in American economy only adds to more zeros to the trillions in debt ,to drug and homelessness and violence.
Russian faith is increasing in its military. Our generals wear more metals on the left and right side ob the chinese made uniforms while faith in the military tanking.
BRICS ist going replace dollars overnight or in even a decade but abuses of dollars – creating boom and bust in 3 rd world would be over and using it as knife in the belly of the child to provoke regime change will soon be over .
Own how? I can also print a whole bunch of funny money, find some idiots who will believe my currency is valid, and sign contracts with them stripping them of real wealth. In the real world it’s called fraud.
But overall, currency (and by extension wealth) is a purely socialist concept. A majority must recognize ownership for it to be valid. If I say, for example, Billy Microshaft or Karl Shwab doesn’t own anything and majority will agree with me, these parasites will own nothing.
You wont get it. Never .
Get what?
I have heard it said that the IMF, has no ability to check the Russian numbers, so the Russian numbers are what the Russians say they are. Potentially suspicious.
“Russia’s Economy Projected to Grow Despite Western Sanctions The IMF says it will grow 1.5% this year”
The Russian economy is really growing at 5% this year and the Russian central bank just raised interest rates to cool the growth.
Russia became one of the top 5 economies in the world recently while Germany is falling into a depression and the UK into a deep regression.
There isn’t much sense to making comparisons of this sort. The relevant fact is that the sanctions didn’t just backfire. They also provided the Russians with the stimulus needed to forget about Europe and pursue a very different course. The Europeans and Americans are so immersed in their fantasy that they somehow defeated Russia, they are still unaware of the implications of what they’ve set in motion. Ukraine is a sideline.
I agree with this, The African narrative of freeing each country from France one by one could very well be a game changer.
No more free Uranium and Gold for France. Well less than before.
India buying from Russia all the fossil fuels they can send and paying for it in Yuan is also huge.
The trade agreements they are inking with nations in Central Asia is another. The US is able to undermine some of them. Not many of them.
Big changes. And this is just a few of them,
Stats from the World Bank.
1. China
2. US
3. India
4. Japan
5. Russia
“Russia’s Economy Projected to Grow Despite Western Sanctions The IMF says it will grow 1.5% this year”
Latest Data: The Russian economy is really growing at 5% this year and the Russian central bank just raised interest rates to cool the growth.
Russia became one of the top 5 economies in the world recently while Germany is falling into a depression and the UK into a deep regression.
Stats from the World Bank.
1. China
2. US
3. India
4. Japan
5. Russia
The US is Howling in PAIN! Russia Has Entered TOP-5 World’s Largest Economies, Overtaking Germany!
****************************************
In 2018, when Putin won the next presidential election, he assembled a new government of the country and gave a special order. In particular, he ordered the government to develop stimulating economic development levers so that in 2024 Russia would be in the TOP-5 World’s Largest Economies. Back then Western countries, including representatives of the American government, began to ridicule those Putin’s order. The West mockingly declared that Russia would never be able to enter the TOP-5 World’s Largest Economies in 2024, since for this Moscow would have to overtake Germany, which in principle is not possible to do.
*****************************************
FACT CHECK
Nominal – Russia is in 11th place
PPP (when the US was solidly in first it was universally recognized as the more accurate measure of a nation’s wealth)
Various sources have Russia as low as 6th, just behind Germany, and as high as 5th and ready to pass Japan into 4th.
All sources have China as being over 25% higher than the US,
Indonesia and Mexico are two notable nations with very large economies, Indonesia is ahead of UK and France, while a bit further back Mexico is ahead of South Korea, Canada, and Spain.
Guess again and see the stats from the World Bank.
1. China
2. US
3. India
4. Japan
5. Russia
I was agreeing with you, while pointing out that nominal GDP is now favored by the US because it provides a better political narrative for the US.
I also added that some sources have Russia ready to overtake Japan in the number 4 slot. By next year?
The US narrative is that Russia is falling apart. There is a fair amount of evidence that thus is yet another lie.
This sucks. I was going to propose to Zelensky and NATO to just offer each Russian soldier a voucher for a free Washer Machine and a toilet in return for a complete withdrawal from the frontlines.