Anna Andrianova, Bloomberg: Russia Is Running on More Than Just the Black Stuff
The world's largest energy producer is out of its longest recession in two decades
Russia has exited recession, with a little help from the boys in uniform, a major statistical revision – and the global oil price. And not just any recession, but its longest in two decades. So what happened?
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WNU Editor: Bloomberg is behind by a few months .... I noticed this trend last year and I have more than once commented that the economy (via through low taxes and the elimination of a lot of government paperwork in running a business) is booming .... The Russian Stock Market Is Booming (December 18, 2017). Now if sanctions were gone .... the economy would be churning at 4% or 5% .... which is Russian President Putin's goal (the end of sanctions) for this year because he goes to the polls next year.
4 comments:
Well..to be honest you posted along the lines of "economy is bad and putin can't keep on going on like this" a few times AND the above linked in your comment. ..you're having it both ways. .that's cool. ..everyone does :)
I actually predicted a depression a year ago. I was wrong. I underestimated the resilience of the Russian economy and I choose not to listen to my friends and family who live there who were telling me otherwise.
Fair enough... I've been wrong so often that I lost count :)
I could have told you Russia would not enter a depression and I don't even have friends or family there. In fact, I'm pretty sure I did predict that.
When he sanctions were first imposed on Russia, I predicted that he Russian economy would preserve and outlast the sanctions, as a result of the sanctions the people would move even closer to Putin, the idea of America as a foreign devil would be reinforced, the idea would be reinforced in the minds of the Russian people that Americans wish them harm, and any opposition to Putin would be pretty much obliterated.
Everything I predicted has come to pass. While the sanctions are not fully lifted yet, this is coming soon enough. As Western European governments are going to be changing significantly in the next year or so the new governments are not going to see value in keeping in place failing sanctions. If the Americans don't catch on, they will be overtaken by events as has been said and left being the only "western" country with ineffective sanctions in place further reinforcing the idea of that Americans wish to harm Russians and strengthening Putin even further while the Russian economy unencumbered by massive debts and sanctions takes off.
At the time sanctions were imposed, I stated that this was the stupidest move ever made by a major power after inserting ourselves in the Ukraine situation. Everything to date affirms what I said at the time. On top of this, we lost a 500 billion dollar oil deal with Russia because of this stupidity.
America has dug itself an extremely deep hole over this. When one finds themselves in a hole, the best thing to do is STOP DIGGING!! Had America's leaders sought my advice before doing something so reckless I very easily predicted all of this. Unfortunately they did not seek wise council but rushed ahead with stupidity like a 7th grade boy who is to stupid to know he is stupid!!
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