Even With Sanctions, U.S. Sales to Russia Hit New High -- Wall Street Journal
U.S. efforts to penalize Russia for its actions in Ukraine appear to have done little to stem exports of U.S. goods to the country.
The U.S. announced targeted sanctions against several Russian companies and individuals in March, but U.S. trade data published Thursday shows exports to the country were the highest on record at $1.2 billion in May.
The sanctions, organized with Europe and other major industrialized nations over Moscow’s alleged actions to destabilize its former client state, sparked investor flight out of Russia, led the ruble to tumble and pushed the economy into a recession. Russian markets have since recovered somewhat, but investors have been wary of an escalation in the sanctions battle.
Demand for U.S. products apparently hasn’t been hit, however, and in fact jumped 21% from the previous month.
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My Comment: This is becoming the global perception of the U.S. today .... say one thing and demand your allies to do it .... but you do something else. In this case .... demand sanctions against Russia .... but boost your trade with Russia.
8 comments:
1.
When is the risk highest for a new finance crisis?
2.
Russia has deleted 90% of Cubas debt to Russia. Is this done for making the countries to trade in rubbels and yuans istead of US dollars? Russia also did the same with North Korea and Afganistan, is this done for strategetly weakning the dollar?
3.
B.R.I.C.S shall soon get its new BRICS bank HQ in Shanghai. Its is trying to be an alternative to the IMF. The members in BRICS is:
Brazil, Russia, India, China and South Africa. Will this destabilise the dollar?
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Am not so good with economy but think this is important. Sorry if the text is a bit bad formulated.
You are actually reading my mind Rhaegar. I have been preparing a post for the past two days on the impact of the world going away from the U.S. dollar. This is a huge story .... and one that many in the media have ignored.
I totaly agree with you. Hope you wil cover the story wil be interesting to see what inpact thie wil have on the geopolitical sphere and how it wil affect the global economy. Wonder if this wil increase or decrease the chance for a finance crisis?
Thank you for covering things the mainstream media ignores:)
"Am not so good with economy but think this is important. Sorry if the text is a bit bad formulated."
Your ideal came though "loud and clear" It is ill news, but news that needs to be heard regardless. So thank you!
Better clarity of thought with poor grammar (due to non-native language) than perfect grammar and muddled thought.
Rhaegar if you had perfect grammar and muddled thought, we could get you a job as a U.S. foreign services officer.
Hehe or i could be a banker;)
But back to the case, i think this wil mean that the glober power sphere wil shift to Russia and China. I also think that we will have a finance crisis soon, that can probably lead to the colapse of the US and pernhaps even the global Capitalistisk money system. It depends on a lot of geopolitical factors, if it will be a new finance crisis wil Russia and China with their BRICS bank stabelise the economy or will it all colaps? Have many questions that only time can answer.
BRIC will not stabilize the economy. It has gone too far into conditions that are unsustainable. If you are a betting man Rhaegar, bet on Russia for the future, not China. For all it's faults (and there are many) Russia's economy has that strange quality of vigor and freedom down at the lower levels that make power houses in the future.
I totaly agree with you. Russia has a very strong people and they have always had an "ability" to get out of crises. Just think of the October revolultion and the Russian civil war, i dont understand how the Russian people managed to win against those ods. And world war 2 when their Red army managed to turn the tabled at Stalingrad its difficult to understand. Here is one of Stalinst speeches: https://www.youtube.com/watch?v=8IGbjPqFFvA&feature=kp
I hate Stalin but i admit he was a good speecher. I think Russia can surviva an finance crisis i just hope they dont get Communism again.
If anyone is interested .... I keep my money in Canada, Switzerland, and .... of course .... Russia.
Switzerland .... because I lived there for two years and I co-own a commercial building with a friend. I love the Swiss when it comes to money .... they respect it .... and that is not the case for most countries.
Canada .... because I live and work here. I also like Canada because it is dedicated (on the federal level) to balanced budgets and a sound fiscal policy. I hate the tax rate though.
And Russia .... well .... that is a long story. I was there in 1992 (Moscow to be exact) when most of these Russian banks went bust .... I got hurt like everyone else. But I was fortunate enough to be working abroad .... got paid in Canadian and U.S. dollars which helped me recover quickly .... and help the family back home in Russia. Today ... it is another story. The Russian banks are far more solid .... and every politician from Putin on down respects the need for balanced budgets and a sound financial system. A low tax rate is also beneficial .... I pay 50%+ in Canada (I am in the top rate) .... in Russia the top rate is (if my memory is correct) 12% or 13%.
With such an environment .... the Germans, Scandinavians, Swiss, Chinese, Japanese, etc. .... they are now investing literally hundreds of billions in Russia.
As to China ..... I avoid China because all of my friends and contacts in China .... some of them being senior officials in the foreign office and in the province of Fujian province .... keep their money (cough cough) in the Caribbean. They think China is now one big bubble about to burst. They are probably right.
I use to have a U.S. commercial bank account .... kept one for almost 20 years .... I closed it three years ago. I have no faith in the U.S. dollar anymore.
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