Posted on 03/18/2023 3:57:13 AM PDT by canuck_conservative
What’s known is that $250 billion in capital has left, equivalent to 14 percent of its GDP. One expert guesstimates that Russia’s economy has shrunk from the size of Italy’s to Chile’s in the past year — you wouldn’t know this based on bogus figures fed to the media by Moscow. Economist Janis Kluge of the German Institute for International and Security Affairs (SWP) calculates that Western sanctions alone have also “basically shrunk Russia’s economy by 10 percent”, bigger than what happened in the 2009 financial crisis.
What is also known is that immediately after the invasion of Ukraine, an estimated 3.8 million Russians left, according to official figures published mid-year by Russia’s Federal Security Service (FSB). In early 2022, there were three waves of departures, including middle class families, political opponents, draft dodgers, millionaires, and IT or other skilled workers... But even if most of these came back, the country suffered another exodus in the fall of an estimated one million after Putin’s announced military conscription. That scale of both mass migrations has also blown a hole in its economy.
.... In 2022, Russia’s military cost US$300 million a day and Moscow raked in US$800 million a day from energy exports. Since the caps began, revenues have fallen to US$200 million a day and head lower....
(Excerpt) Read more at kyivpost.com ...
Worse, each shipment will cost Russia money. Its production cost is at least $45 a barrel and shipments to India or China, its biggest buyers now, cost up to $12 a barrel because it takes weeks to deliver oil by barge halfway around the world. Then there’s insurance expenses which soar. At $60 a barrel, Russia makes no profit and India, for one, is demanding volume discounts and often paying less than $60. Putin’s war has destroyed its energy trade: Europe has switched to natural gas from other nations permanently and there are no pipelines that cheaply can link its oilfields to its big customers in Asia. And there never will be....
Russia is an oil enterprise that’s going broke. In the short run, its economy will continue spiralling downward, triggered by budget shortfalls, devaluation, economic contraction, and more capital outflows. In the long run, Russia’s exports will diminish along with the rouble, causing imports to crater and bring its domestic manufacturing to a complete standstill. Already, companies representing 40 percent of its GDP have closed, its financial markets are in crisis, and Russia cannot attract foreign investment. This is not an economy that’s performing well. This is an economy that is sputtering and dying.
“Russia is in a tailspin,” said Yale University Professor Jeffrey Sonnenfeld in a recent interview with Germany TV network Deutsche Welle. “False data is recycled. Every industrial sector is down, retail is down, and it’s losing $1/2 billion a day on energy exports. Rouble values are another fake number. It is not an exchange-traded currency and there isn’t even a black market for it. It has no value because nobody wants a Rouble.”
thx for the link!
Good—let us declare victory and stop sending billions of Biden Bucks to the Ukraine.
Diane is a known Globalist, always has been
She wants a drastic reduction of the Global headcount from the current number
I am surprised by the gullibility of some outlets like Reuters or AP, who report Russian state provided fake numbers as facts.
This is similar to what they used to do regarding Cuba - “according to official Castro statistics Cuba is a prosperous paradise” - ignoring the reality staring at their face.
Oh boy! This stuff starts so early on a Saturday morning. I thought propaganda dumps were usually in the evening when there are more viewers.
“It has no value because nobody wants a Rouble.”
I recall during Reagan’s term, that Iran was counterfeiting US dollars. But even counterfeited dollars were “good” in Russia, because even Russians didn’t want roubles!
O/T: What happened to the former spelling of “rubles”?
“It has no value because nobody wants a Rouble.”
I recall during Reagan’s term, that Iran was counterfeiting US dollars. But even counterfeited dollars were “good” in Russia, because even Russians didn’t want roubles!
O/T: What happened to the former spelling of “rubles”?
the numbers don’t lie
Putin is running Russia into the ground with this grinding, expensive, unnecessary war
I’ve been saying that constantly since the beginning of this Ukraine war.
Sure, because of all the modern western jets and tanks sent to Ukraine. Not
Poland builds Europe’s largest land force to counter Russian threat
https://www.telegraph.co.uk/world-news/2023/03/11/revolution-polish-army-builds-europes-largest-land-force/
bkmk
.....based on bogus figures fed to the media.
Damn that sounds familiar.
I thought the new spelling was “Rubble”.
“budget deficit soared to $24.6 billion, according to industry bible Oilprice.com.”
That’s collapsing?!? Heck, your oligarch masters in DC pi$$ that much away every month on vinyl pants and Uke corruption. Their total national debt is $335 Billion, our is what 30, 33, 35 Trillion. If it wasn’t so dangerous, the comedy show you DC stooges put would be hilarious.
an estimated 3.8 million Russians left, according to official figures published mid-year by Russia’s Federal Security Service (FSB).
In early 2022, there were three waves of departures, including middle class families, political opponents, draft dodgers, millionaires, and IT or other skilled workers...
But even if most of these came back, the country suffered another exodus in the fall of an estimated one million after Putin’s announced military conscription. That scale of both mass migrations has also blown a hole in its economy.
Ironically, 4.8 million is close to the number of illegals that have entered the US since Biden. Odd isn’t it?
She wants a drastic reduction of the Global headcount from the current number
I say lets start with HER HEAD!
Wow, it’s beginning to sound like it’s going to be a clear field for the Ukrainians’ final March to Moscow and GLORIOUS VICTORY! But first they must meet up with five divisions of FRENCH CANADIAN VOLUNTEERS at the eastern Ukrainian border.
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