Damn it's cozy here

  • 9 Posts
  • 38 Comments
Joined 1 year ago
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Cake day: June 27th, 2023

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  • Actually no. It is not "pretty much accepted in mainstream media now" that "sanctions are not having the desired effect on Russia while being devastating to Europe". When the Ruble is worth shit any more when compared to the Euro there might be a flaw in your perception. https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/eurofxref-graph-rub.en.html

    What amount Russia traded with China. How much of that is just crude oil that they have to sell for extremely low prices. If that's even significant at all, I have no clue. Economics are definitely way over my head. But given that there's a war in Europe right after years of pandemic, things seem to be fine. Not great, not terrible. https://www.reuters.com/markets/europe/german-economy-stagnates-q2-after-winter-recession-2023-08-25/

    And most of the time I wonder if you even read the articles you post.

    And here’s how things are going in Russia right now

    Russia's wealth gains came despite its invasion of Ukraine in February, which has led to the West imposing sanctions on the Kremlin that led to its economy shrinking and triggered a slump for Moscow-listed stocks.
    UBS acknowledges that "wealth trends in Russia are difficult to determine at this time," but did highlight it as one of a handful of countries that had gotten richer in 2022.
    Rising oil prices could be one factor behind the wealth increase, with exports of the commodity a key economic engine for Russia. The cost of a barrel of benchmark Urals crude jumped by about $7 last year, data from Refinitiv indicated.

    /edit
    https://www.project-syndicate.org/commentary/ruble-decline-growing-budget-deficit-funding-ukraine-war-by-sergei-guriev-2023-08
    https://tradingeconomics.com/germany/gdp-growth
    https://tradingeconomics.com/russia/gdp-growth