“Will be interesting to see what is left of Russia and pitin after this is all over.”
All the major corporations in Russia are now operating at a loss, and borrowing at huge interest rates to keep doing it.
CEOs of publicly traded Western companies could be jailed for this.
But the CEOs of major Russian companies have been installed by Putin, owe their wealth to him, and their positions and lives depend on their unwavering loyalty to Putin - not their shareholders.
Most of the load of debt and deficit overloading the Russian economy has been forced on private sector companies and banks (in fascist fashion), rather than on the Federal Government (as bad as that is).
The financial overhang is growing at an accelerating rate.
Imagine borrowing at 20-30% interest rates, my home back in 1984 was 10%, but was only 62k, a lot back then, now it is worth over 300k.