Anyone here know even the basics of economics?
Russia hiked interest rates to 14%. The USA is at 1%. The currencies are stable only when Russia offers a return 14 times higher than we do.
That 14% interest rate has also caused almost all borrowing in Russia to grind to a halt and is pushing the economy towards a deep recession
Argentina has a 49% interest rate. Maybe the mob is loan sharking:
https://tradingeconomics.com/country-list/interest-rate
Economic and financial illiterates.
This is like getting giddy over some sales record because the company gave a 80% discount on the product price. Meaningless.
Finally, an economics expert. Tell me when Russia will go into a deep recession. A year from now? Six months? Two weeks? Two days?
“That 14% interest rate has also caused almost all borrowing in Russia to grind to a halt and is pushing the economy towards a deep recession”
Don’t inject reality into the Putard party.
Exactly. This whole Mess has just started, let’s see where the Ruble is 6-9 months from now. It is likely that the Russian economy will be a basket case by then. Even if the war ended tomorrow, the Russians have cut their own throats by encouraging the Europeans to seek other energy sources besides Russian oil and gas. I don’t expect that shift away from Russian energy to turn around for quite a long time if ever and it will really strike them hard in 6-12 months as the Europeans get their alternatives online.
The ruble was at 140 for every dollar right after the sanctions hit and how is at 57 for every dollar.
Russia is collecting more in oil revenue than before the war began.
The sanction war has been total failure. The Russians were prepared for the sanctions, overcome them and, now, Russia is set to thrive in the future because of all this.
What kind of conservative backs the idiotic Biden regime strategy on this?