I don’t trust anything from the WaPo. This article smacks of wishful thinking journalism to me.
The Russian people are ready to accept the austerity resulting from the tanking Russian economy? How do we know this? Whose polling reveals this?
Crude oil is down nearly thirty dollars a barrel in three months. The Russian economy depends nearly exclusively upon oil sales. This cannot possibly not affect Putin’s decision making. Making war is expensive. The ruble is down 20%. Twenty percent. In three months.
It is just as dangerous to overestimate one’s enemy as it is to underestimate him.
When we see articles like this from liberal rags, generally the opposite turns out to be the truth. I say Russia, which too often we confuse with the Soviet Union, is weak, and now would be a good time to bust Putin’s chops.
Of course, that won’t happen because Ronald Reagan isn’t in the White House, but one can dream.....
Why is the price of oil down?
I know production is up in the US on sweet crude. However, has Saudi Arabia increased production to hurt the Iranians and Russians?
Any input would be appreciated.
FYI, at one point I owned The Russia Fund. As you pointed out it was like owning an oil derivative. It would go up and down based on the world oil price. It was a good hedge against high oil prices.