It doesn't help that many members of the already smaller younger generations are being chewed up in war.
Posted on 04/12/2023 9:29:08 AM PDT by Kazan
The West’s sweeping sanctions on Russia following its invasion of Ukraine are shaping up to be the West’s most monumental miscalculation in modern history. The sanctions have not brought the Russian economy to its knees, as was widely predicted. Instead, it’s the Western economies that are reeling, their economic growth all but stopped. Many of them are simultaneously suffering from both high inflation and energy shortages.
Russia, meanwhile, is not only surviving but thriving, acquiring more potency and prestige throughout Asia, Africa and South America than at any time since the collapse of the Soviet Union.
According to the IMF, the Russian economy will grow faster than Germany’s or the UK’s this year. Next year, it will also grow faster than those of the U.S., Japan, Italy, and much of the rest of the West, its growth in GDP per capita will exceed that of the advanced economies as a whole, and it will achieve the lowest debt-to-GDP ratio among the G20 nations. Russia’s unemployment rate of 3.5% is the lowest since the Soviet Union fell. Russia’s economic performance -- S&P Global recently confirmed its bullish private sector business confidence -- is all the more remarkable since Russia is simultaneously fighting an expensive proxy war against the combined weight of the armories of the West.
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Yet Russia has been able to ramp up its own military production rate so effectively that its artillery can massively out-pound Ukraine’s, firing between 40,000 and 50,000 shells per day versus Ukraine’s 5,000-6,000. While Russia’s arms production is on a high-output war footing, the West’s has been unable to keep pace. America’s focus on supplying Ukraine has compromised its ability to meet other goals, such as deterring China’s expansion and maintaining readiness to respond elsewhere.
(Excerpt) Read more at americanthinker.com ...
bkmk
“GDP per capita will exceed that of the advanced economies as a whole”
GDP per capita in Russia is $14,403.
There are 63 countries with per capita GDP’s higher than Russia.
The neocons care only about war as they lose their world influence…
“ Concerning a BRICS expansion, Lavrov stated that Algeria, Argentina, and Iran had all applied, while it is already known that Saudi Arabia, Türkiye, Egypt and Afghanistan are interested, along with Indonesia, which is expected to make a formal application to join at the upcoming G20 summit in Bali.
Other likely contenders for membership include Kazakhstan, Nicaragua, Nigeria, Senegal, Thailand and the United Arab Emirates. All had their Finance Ministers present at the BRICS Expansion dialogue meeting held in May.”
The article addressed growth in GDP per capita, not total GDP per capita.
Russia is still a third world country with nukes - and drinking itself out of existence.
Using the dollar as a political weapon is not a good idea.
What country will be punished next because they don’t do as we say?
As NATO Secretary General Jens Stoltenberg told reporters at the U.S. State Department in February, the West to date has provided unprecedented support to Ukraine, with around $120 billion in military, humanitarian and financial assistance.
The transfer of military materiel has been so extensive that many of the NATO countries’ arsenals have been depleted: Germany is down to two days of ammunition and is now unable to defend itself, according to the country’s defence minister; the UK’s stockpiles of ammunition would last but a few days in battle; France is facing “a major shortage of munitions,” and the US military now doubts its ability to both continue to supply Ukraine and maintain its own readiness. “The current rate of Ukraine’s ammunition expenditure is many times higher than our current production rate,” states Stoltenberg.
Russia's Minuscule Economy: The Mouse That Roars
Given all the economic, political and security turmoil Russia creates for the world, and especially for the democratic countries, you’d be forgiven for thinking that the country is an economic powerhouse.
It isn’t.
According to Investopedia’s rankings, at $1.48 trillion nominal GDP, Russia has the 11th largest economy in the world, and only represents 1.31 percent of the world’s economy. It’s nominal GDP per capita is $10,126.*
The United States, by contrast, has a nominal GDP of $20.89 trillion—roughly 14 times the size of Russia’s economy. And nominal GDP per capita is $63,413.
Even three U.S. states have larger GDPs than Russia: California ($3.1 trillion), Texas ($1.78 trillion) and New York ($1.7 trillion). Note that California has more than twice the GDP of Russia.
There’s more. Russia’s efforts in Ukraine are being challenged by all of the developed economies, especially the European Union in alliance with the United States. So it’s worth looking at the EU’s combined economic strength: about $15.28 trillion.
Add the U.S. and EU GDPs and you get about $35 trillion, more than 40 percent of the world GDP.
https://www.ipi.org/ipi_issues/detail/russias-minuscule-economy-the-mouse-that-roars
Depleted in 155mm artillery ammunition since western countries are only now increasing production. US has other abundant military hardware. For instance, we sent Ukraine 109 Bradleys, but have 2,000 currently in storage.
If one is to believe those controversial "document leaks" - ukraine is only firing 1500 shells per day. And it has less than 2 weeks inventory at that rate.
Using GDP figures found on google is simplistic, grade school exercise, and HIGHLY misleading. Its clearly on the face of it a faulty analysis of “power.”
The island of Manhattan alone has a GDP of $630 BILLION - all from swapping financial instruments and real estate.
How much oil, gas, artillery shells, tanks, antibiotics, automobiles are produced on Manhattan?
Some people say that purchasing power parity gives a more accurate assessment of economic power. By that measure, Russia’s economy is larger than Germany’s.
I will believe the Pro Putin Folks when they sell all their stock, sell their homes, cash out the 401k’s and their savings accounts and trade all those dollars in for Russian rubles.
“Russia following its invasion of Ukraine are[is] shaping up to be the West’s[Russia’s] most monumental miscalculation in modern history.”
It is easy to have a fast rising GDP when you are hoisting it out of the toilet. Internal percentages can be made to look good. When compared with countries living in the real world not so easy and not looking so good.
Does anyone have figures on how fast and how much the US, and NATO counries, are increasing war materiel production?
“There are 63 countries with per capita GDP’s higher than Russia.”
I don’t know what to believe but per-capita matters less in warfare than the ability to produce weapons and marshal troops.
Still stuck in the 80s are ya?
It doesn't help that many members of the already smaller younger generations are being chewed up in war.
Let's hope we avoid a major conflict with China or Russia. We are no longer the "arsenal of democracy", but are rather a 21st Century version of the Confederacy, with insufficient industry and a faulty vision of viability.
The Confederacy analogy is a good one
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