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Putin Taps Economist to Run Defence, Replacing Shoigu in Unexpected Move
US News ^ | 5/12/2024 | Reuters

Posted on 05/12/2024 7:39:02 PM PDT by marcusmaximus

Russian President Vladimir Putin tapped a civilian economist as his surprise new defence minister on Sunday in an attempt to gird Russia for economic war by trying to better utilise the defence budget and harness greater innovation to win in Ukraine.

-snip

Kremlin spokesman Dmitry Peskov said the change made sense because Russia was approaching a situation like the Soviet Union in the mid-1980s, when the military and law enforcement authorities accounted for 7.4% of gross domestic product (GDP).

That, said Peskov, meant it was vital to ensure such spending aligned with and was better integrated into the country's overall economy, which was why Putin now wanted a civilian economist in the defence ministry job.

(Excerpt) Read more at usnews.com ...


TOPICS: Chit/Chat
KEYWORDS: andreibelousov; dailypropaganda; iran; mucusmaximus; russia; sergeishoigu; shoigu; timurivanov; trolling; trollthread; zeeperporn
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Kremlin spokesman Dmitry Peskov said the change made sense because Russia was approaching a situation like the Soviet Union in the mid-1980s, when the military and law enforcement authorities accounted for 7.4% of gross domestic product (GDP).


1 posted on 05/12/2024 7:39:02 PM PDT by marcusmaximus
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To: marcusmaximus

The Economics of the Special Military Operation make no sense.


2 posted on 05/12/2024 7:41:15 PM PDT by Paladin2
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To: marcusmaximus

Hahaha. Hohoho.

“civilian economist”


3 posted on 05/12/2024 7:42:39 PM PDT by SpeedyInTexas (Defeat the Pro-RuZZia wing of the Republican Party)
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To: SpeedyInTexas

4 posted on 05/12/2024 7:49:55 PM PDT by marcusmaximus
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To: marcusmaximus
The 4 Ongoing Russian Offensives Captures Additional 18SQKM As Fighting Intensifies

The Russians Entered Vovchansk | Krasnohorivka Has Collapsed. Military Summary 2024.5.12

5 posted on 05/12/2024 7:59:19 PM PDT by Kazan
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To: marcusmaximus; All
USA was over 10 during the Vietnam War. That was a war of choice 10,000 miles away. The Ukraine operation is a war of necessity right on their border.


6 posted on 05/12/2024 8:01:39 PM PDT by Reverend Wright ( Everything touched by progressives, dies !)
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To: Kazan
Kharkiv in 3 days! Bring your parade uniforms!


7 posted on 05/12/2024 8:01:41 PM PDT by marcusmaximus
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To: marcusmaximus; AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; ...
Probably because the economist has been such a success turning the ruble into the world's dominant currency. /rimshot!

8 posted on 05/12/2024 8:08:10 PM PDT by SunkenCiv (Putin should skip ahead to where he kills himself in the bunker.)
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To: SunkenCiv

Putin is in a panic over his upcoming income tax hikes to pay for his failing war.

Moscow residents are going to get hammered with the new tax increases because they make twice as much income as the inhabitants of the rest of Russia.

Popcorn time!


9 posted on 05/12/2024 8:13:31 PM PDT by marcusmaximus
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To: Reverend Wright

What Putin income tax hikes doink? Moscow residents hit hardest!


10 posted on 05/12/2024 8:17:19 PM PDT by marcusmaximus
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To: Reverend Wright

Putin 33% personal income tax hike stronk as bull!


11 posted on 05/12/2024 8:21:45 PM PDT by marcusmaximus
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To: Kazan

Putin 33% personal income tax hike stronk as bull!


12 posted on 05/12/2024 8:22:39 PM PDT by marcusmaximus
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To: marcusmaximus

Old joke:

Stalin is viewing a May Day parade. The parade consists of hundreds of tanks and thousands of soldiers. In front of them all marches a group of men in civilian clothes and carrying briefcases.

Stalin: Who are those men?
Aide: Comrade Stalin, they are economists

Stalin: Why are they at the front of the parade?
Aide: It’s because economists are the most dangerous men of all.


13 posted on 05/12/2024 8:22:57 PM PDT by Leaning Right (The steal is real.)
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To: marcusmaximus

ZZZZZZZZZZZZZZZZZZ


14 posted on 05/12/2024 8:23:54 PM PDT by doorgunner69 (When tyranny becomes law, rebellion becomes duty)
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To: marcusmaximus

https://en.wikipedia.org/wiki/Revenue_and_Expenditure_Control_Act_of_1968


15 posted on 05/12/2024 8:26:12 PM PDT by Reverend Wright ( Everything touched by progressives, dies !)
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To: Leaning Right

LOL!

Putin needs cover for his 33% income tax hike for Moscow residents making over $50k a year. That’s a big hit.


16 posted on 05/12/2024 8:26:51 PM PDT by marcusmaximus
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To: All
“You're not a wartime consigliere, Tom.”


17 posted on 05/12/2024 8:27:45 PM PDT by BipolarBob (Those who favor abortion are not just atheists but followers of Satan whether they know it or not.)
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To: Reverend Wright

Putin is also increasing corporate income taxes in Russia by 25%.


18 posted on 05/12/2024 8:31:00 PM PDT by marcusmaximus
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To: All

It’s always bogus to relate some portion of government “as a % of GDP”.

GDP = C + G + I + (Exports - Imports)

It is traditionally popular to talk about how Consumption is a large part of GDP (at least in the US) but Soc Sec payout is called Consumption.

And more to the point, all gov’t spending, be it defense or their foreign ministry or any gov’t agency . . . that’s G. In other words GDP comes from gov’t spending. People want to think GDP is some sort of measure of goods and services, but govt spending is part of it By Definition.

So if you have a decade of QE with money created from nothingness, and that money is distributed to fund the huge govt deficits, well, that money from nothingness is being **spent** and it becomes GDP.

That’s right, GDP comes from nothingness via QE.

The Soviet Union’s central bank at that time was constrained in money creation to align with the Interior ministry’s 5 year plan. In other words, they made the mistake of thinking this substance from nothing had to be logical and make sense.

The current Russian central bank has no such restriction. Like the Fed, they can create money from nothing and do with it what they please — and if you haven’t gotten confused yet, you will reach the right conclusion — the created money, from nothing, gets called GDP.


19 posted on 05/12/2024 9:04:35 PM PDT by Owen (.)
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To: marcusmaximus

So the tax rate on top earners is going from 13% to 17%?


20 posted on 05/12/2024 9:16:11 PM PDT by DesertRhino (2016 Star Wars, 2020 The Empire Strikes Back, 2024... RETURN OF THE JEDI. )
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