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To: AdmSmith
The share of class in Russia shrank from 20% to 15%. On other other hand, economic hardship may not have the same impact as in other countries:

Russia's middle class: We don't blame Putin

From the article:

And for middle class it's important to feel that you are a citizen of a very important country."

The sentiment mentioned above shows that they don't want to settle for being just another country in exchange for more food on the table. Different tolerance for economic hardship.

28 posted on 12/14/2015 11:48:45 PM PST by TigerLikesRooster (The way to crush the bourgeois is to grind them between the millstones of taxation and inflation)
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To: TigerLikesRooster
Yes, Russians will accept more hardship than citizens of Western countries. They are used to big swings, but:

For the first 15 years of Putin's rule, Russians’ standard of living rose steadily; but it has fallen sharply since November 2014. Real wages are set to plummet by 10 percent this year. Real pensions are also declining, and spending on health care and education is set to fall by 8 percent next year.

The big question is how Russians will respond when they realize that the decline in their standard of living is not temporary, as it was in 1998. In 2014, Russia’s GDP was $2.1 trillion (at the current exchange rate). It has plunged to $1.1 trillion. These numbers do not reflect purchasing power, but the Russian middle class measure their salaries in dollars. So far, public reaction has been muted, but a two-week protest by Russia’s truck drivers over a new highway toll suggests that popular quiescence may not last.

http://www.japantimes.co.jp/opinion/2015/12/14/commentary/world-commentary/putins-newfound-prudence/

29 posted on 12/15/2015 9:28:56 AM PST by AdmSmith (GCTGATATGTCTATGATTACTCAT)
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