Posted on 08/22/2024 7:16:29 PM PDT by UMCRevMom@aol.com
"Russia's wartime economic boom is masking much deeper problems, according to a group of researchers.
The authors of a recent article, who hail from institutions including the Yale School of Management, the Wharton School, the Carnegie Endowment, and the Kyiv School of Economics, cast a stark warning for Russia's economic situation despite the nation posting strong growth numbers since its invasion of Ukraine in 2022.
Russia's economy is expected to expand another 2.4% this year, according to figures from the International Monetary Fund. However, much of that growth stems from the Kremlin's wild spending spree, and Russia's economy is hindered by a number of problems that could set it up for trouble in the long run, the researchers said.
"The reality of Russia's economic situation is far more complex and concerning than some would have you believe. The productive core of the Russian economy has been severely compromised," the group wrote in an op-ed for Fortune this week.
Russia has been spending heavily on its military and defense sectors, setting a record military budget for 2024. But that spending has come at a cost to Russia's private sector, some economists say, with other areas of its economy being slammed by a severe shortage of workers as resources get funneled into Russia's invasion of Ukraine." Excerpt
(Excerpt) Read more at businessinsider.com ...
Sorry, Mom. Marcus Maximus has taken your place as Head of Zeeper Disinformation.
“OUTSIZED military spending”?!? What crap! This is the most ridiculous thing you’ve posted yet. $71billion for 2024 which enables Russia to continue kicking NATO’s arse. We spend a TRILLION when you include intelligence. NATO, 1.5TRILLION!
71billion vs. 1.5 TRILLION is outsized military spending? Thanks for the laugh. Keep them coming. We’ve missed your Uke corruption comedy routine.
Western Sanctions really haven’t hurt them, they are concentrating on the BRICS and Eurasia along with expanding their trade with China. Meanwhile the west is in Deep Debt and getting only worse.
The strongest currency right now is the Russian Ruble which is backed by gold and Russia has very little long term debt.
If only the U.S. was in that kind of fiscal shape.
ARTICLE
Russia’s Oil Exports to China Plunge After Putin’s Visit With Xi
NEWSWEEK
Micah McCartney
8-22-2024 Updated 11:26 a.m. EDT
https://www.newsweek.com/russia-oil-exports-china-plunge-after-putin-visit-xi-1942756
China has sharply reduced its imports of Russian oil in recent months, according to statistics from China’s customs authority.
Russian oil flows to China, from both pipelines and shipments, plummeted to 1.76 million barrels per day last month, a year-on-year drop of 7.4 percent and the lowest amount so far this year.
This figure marks a continuing decline. Russian oil flows to China in July were down by 22 percent since December and 30 percent since March, the Moscow Times reported.
It’s a concerning trend for Russia, continuing even after President Vladimir Putin’s high-profile talks with Chinese President Xi Jinping in May. Russia last year overtook Saudi Arabia as China’s No. 1 source of fossil fuel, accounting for nearly one-fifth of the world’s second-largest economy’s oil intake.
Excerpt
The phony "REVEREND" gets off on warmongering. She can't get enough blood and guts.
The ultra-lib seminary she attended failed to teach Matthew 5:9.
Chinese oil consumption 2023 was 16.6 million barrels/day. This was +10% over 2022. Some of this was Covid recovery and no one expected 10% to duplicate in 2024, but it damn sure is not going to go backwards and the dirty little secret about oil —
China has some. About 4.5 million barrels/day of production. It is falling. Sharply. That’s a dirty a secret as exists. Chinese oil fields are dying. There is nowhere else for them to go to get oil than Russia. India’s consumption also grew last year, and that comes from Russia, too.
Usually these amateur sources of oil information try to do things like measure the waterline on tankers arriving at an importer’s port. Not too useful if it arrives via pipeline.
KSA ships elsewhere now, largely Japan.
Actually Russia’s war economy cannibalizes its own economic future. Non-military infrastructure suffers because investments are diverted.
Hopefully, Trump will be elected our 2024 President:
‘Drill, Baby, Drill’
What happened?
Too bad you don't care enough about this country to offer a prayer. You do it only when someone challenges you about it.
Since you're too busy spreading lies, I'll post a prayer for the greatest country on the face of the Earth.
God have mercy on America...
Great graphic; nice job on that one!
That image is a keeper
🙏 Amen
Thanks for posting.
Oh right, mommy. Your candidate is Harris. She and the Democrats / neocons / globalists support Ukraine, not President Trump or Senator Vance.
But you keep your big mouth shut because you don't want to get kicked off FR. You need this site to spread your propaganda.
Here's your Party, mommy:
Nothing is obstructing drilling where there is oil to get.
There is no law of the universe that says oil is everywhere and certainly no law that says empty wells refill.
She'll soon be summoning her Flying Zeeper Monkeys to come and save her.
Raimundas Vaikšnoras, Commander of the Lithuanian Armed Forces, has reported that there is a noticeable reduction of Russian ground forces in Kaliningrad Oblast, Russia.
Ukrainska Pravda
By Iryna Kutielieva, VALENTYNA ROMANENKO
https://www.msn.com/en-us/news/world/lithuania-records-reduction-of-russian-troops-in-kaliningrad-oblast-amid-ukrainian-offensive-in-kursk-oblast/ar-AA1pfbe0?ocid=msedgntp&pc=DCTS&cvid=d7bcb6e73cae426eae9969d5d3c98064&ei=14
SOURCE: Baltic states news website Delfi, citing Vaikšnoras, as reported by European Pravda
DETAILS: Vaikšnoras attributes this reduction to the successful Ukrainian offensive in Kursk Oblast, Russia. However, he cautioned against relaxing, noting that the Kremlin persists in its attempts to maintain control over the Baltic Sea region.
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