“Race supersedes everything. Everything. EVERYTHING is racial.”
I don’t buy into that, at all.
“Putin’s Latest Problem Is Runaway Inflation”
“Even as price rises have moderated across much of the developed world, Russia’s struggles with price stability are getting worse”
“Russian President Vladimir Putin has overseen a surge in military production that has pushed up wages and prices.”
“As Russia fights the war in Ukraine, it is losing a battle at home—against inflation.
Last year, the Russian central bank more than doubled interest rates to tame prices. Inflation, though, kept rising, hitting over 9% this month, with a vast range of goods and services becoming costlier from potatoes (up 91% so far this year) to economy-class flights (up 35%). Now the central bank is set to further raise its benchmark rate on Friday.
Inflation has become a hard-to-shake feature of Russia’s war economy. Even as price rises have moderated across much of the developed world, Russia’s struggles with price stability are getting worse.
A surge in military spending by the government and a record labor shortage as working-age men go to the front or flee have fueled wages and pushed up prices. Fresh rounds of U.S. sanctions, meanwhile, have complicated international payments, further driving up costs for importers.
Prices aren’t rising fast enough to cause an economic crisis or social unrest. But they are a sign of the growing imbalances under the hood of the economy. Stubborn inflation also means that prosecuting the war becomes costlier, which then leads to even larger military spending.”