Actually, the Russian Economy Is Imploding

Foreign Policy ^ | JULY 22, 2022, 5:56 PM | Jeffery Sonnenfeld and Steven Tian

[MercyFlush]

Five months into the Russian invasion of Ukraine, there remains a startling lack of understanding by many Western policymakers and commentators of the economic dimensions of President Vladimir Putin’s invasion and what it has meant for Russia’s economic positioning both domestically and globally.

Far from being ineffective or disappointing, as many have argued, international sanctions and voluntary business retreats have exerted a devastating effect over Russia’s economy. The deteriorating economy has served as a powerful if underappreciated complement to the deteriorating political landscape facing Putin.

[MercyFlush]

Russia's economy is imploding and with their declining economy their military capability correspondingly declines.

Good.

[oldasrocks]

Sounds like just what is happening here.

[Bob434]

The war will be over soon, as Russia and Ukraine will cease to exist because of monkeypox. Who,to declare monkeypox pandemic in 3.2.1. If that doesn’t work global warming will destroy the world

[JonPreston]

The IMF disagrees with this Neocon propaganda

Russia’s Economy Doing Better Than Expected Despite Sanctions: IMF

AFP

July 26, 2022 9:52 am

Source: Pixabay

Despite damaging Western sanctions imposed on Moscow in the wake of the invasion of Ukraine, Russia’s economy appears to be weathering the storm better than expected as it benefits from high energy prices, the IMF said Tuesday.

The sanctions were meant to sever Russia from the global financial system and choke off funds available to Moscow to finance the war.

But the International Monetary Fund’s latest World Economic Outlook upgraded Russia’s GDP estimate for this year by a remarkable 2.5 percentage points, although its economy is still expected to contract by six percent.

While major economies including the United States and China are slowing, “Russia’s economy is estimated to have contracted during the second quarter by less than previously projected, with crude oil and non-energy exports holding up better than expected,” the report said.

After starting the year below $80 a barrel, oil prices spiked to nearly $129 in March, before easing back to a little over $105, while natural gas prices are rising again and approaching their recent peak.

[ComputerGuy]

Maybe that’s why the Saudis are buying Russian oil. Putin needs the cash.

[gundog]

Their nukes are already paid for.

[2banana]

Have they tried printing trillions in QE...

Well, actually no.

[BobL]

Sounds like we’re being set up for another $50B.

[Harpotoo]

I say BS! Russia is raking in the money with oil prices being what they are and even the Saudis are buying their oil now.

[Erik Latranyi]

Another propaganda piece like the Ghost of Kyiev or Snake Island.......

[proust]

“Trust me, I’m an economist from Yale.”

[Boomer]

There’s a reason 85% of Americans don’t believe the media.

The entire media system is nothing but a disinformation/misinformation troll farm.

[Skywise]

Just like what’s happening here.

The real question is who’s economy is imploding faster?

[Ultra Sonic 007]

Well, who are you gonna trust? The IMF, or two guys from Yale?

By Jeffrey Sonnenfeld, the Lester Crown professor in management practice and a senior associate dean at the Yale School of Management, and Steven Tian, the director of research at the Yale Chief Executive Leadership Institute.

[dangus]

Sooooo.... the Russian economy is still collapsing, but less than a third faster than it would be collapsing if it weren’t for higher energy prices.

That hardly sounds like disagreeing with the “neocon propaganda.”

The “propaganda” element is in the gloating over the sufferering of people whose livelihoods are being destroyed while the oligarchs continue to get richer and richer and while China becomes all-powerful. I’m of the opinion we should be happy if Russia decides that invading another country is too costly in terms of diplomacy, military strengths, etc. I don’t think that impoverished farmers and industrial workers are regarded as a “cost” to the oligarchs, and it’s worse still if Russia continues doing their thing, but with China as their new master.

[Jan_Sobieski]

Yay…the homosexual New World Order is beating Christian Russia! /s

[JonPreston]

Stop supporting Biden’s foreign policy and instead think about American’s middle class.

[dangus]

>> Well, who are you gonna trust? The IMF, or two guys from Yale? <<

I’m tempted to demand you check your Conservative card at the door for every asking that question, but I haven’t completely decided that an appeal to authority is invalid.

However, it’s the French press agency that wrote that headline, not the IMF. The IMF reports that despite the sure in oil profits, the Russian economy STILL imploded six percent. While that’s better than contracting 8.5%, it still in no way contradicts the OP.

[semimojo]

...its economy is still expected to contract by six percent.

Yeah, they're killing it.

[dangus]

And I hope you understand that this was mean tongue-in-cheek:

“I’m tempted to demand you check your Conservative card at the door for even asking that question”