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   Hanse Mina (hanse_mina@mastodon.social)'s status on Friday, 09-Aug-2024 21:50:46 JST Hanse Mina

   #Russia’s overheating economy fueled by massive #Kremlin spending on its invasion of #Ukraine may be about to cool sharply amid mounting constraints on key sectors that have bolstered growth until now.

   https://www.bloomberg.com/news/articles/2024-08-09/russia-braces-for-war-driven-economy-to-run-out-of-steam

   • NeonPurpleStar :heart_bi: likes this.
   • Embed this notice
     NeonPurpleStar :heart_bi: (neonpurplestar@outerheaven.club)'s status on Saturday, 10-Aug-2024 20:13:34 JST NeonPurpleStar :heart_bi:

     in reply to

     • Paladin :verified: :ak:
     • Viking Chieftain
     @VikingChieftain @Paladin it's not just that
     
     the ultra rich in the usa see russia as a model to be mimicked, they LOVE the model of oligarchy in russia, the lack of pretense of any democratic values, and the immediate beating of anyone in russia who thinks the current system is unfair
   • Embed this notice
     Viking Chieftain (vikingchieftain@krigskunst.social)'s status on Saturday, 10-Aug-2024 20:13:37 JST Viking Chieftain

     in reply to

     • Paladin :verified: :ak:

     @Paladin

     You're right about investments. Some capitalists have had to write off their assets in Russia as business losses.

     But Russia will remain a resource economy for the foreseeable future. That's why immoral capitalists like Elmo are cozying up to Putin... They all want cheap natural resources.

     The same goes for China. As long as China is the dominant player when it comes to rare earth minerals (and cheap labour), the capitalists will flock to Xi's bum and lick it as best they can.

   • Embed this notice
     Paladin :verified: :ak: (paladin@mastodon.nu)'s status on Saturday, 10-Aug-2024 20:13:39 JST Paladin :verified: :ak:

     in reply to

     • Viking Chieftain

     @VikingChieftain I seriously doubt that. This time no western money will pour in. Every company knows that they will be robbed blind.

   • Embed this notice
     Viking Chieftain (vikingchieftain@krigskunst.social)'s status on Saturday, 10-Aug-2024 20:13:41 JST Viking Chieftain

     in reply to

     • Paladin :verified: :ak:

     @Paladin

     Putin's best days are definitely behind him. It will take Russia a decades to recover from this grossly miscalculated invasion. Then it's time to elect another Putin and rinse & repeat.

   • Embed this notice
     Paladin :verified: :ak: (paladin@mastodon.nu)'s status on Saturday, 10-Aug-2024 20:13:42 JST Paladin :verified: :ak:

     in reply to

     • Viking Chieftain

     @VikingChieftain There is no way they will recover from this. Compounding problems will break their economy forever.

   • Embed this notice
     Viking Chieftain (vikingchieftain@krigskunst.social)'s status on Saturday, 10-Aug-2024 20:13:44 JST Viking Chieftain

     in reply to

     Highlights:

     - Russia’s economy is overheating due to high spending on Ukraine.
     GDP growth is expected to slow from over 4% in Q2 to about 2% in H2 2024, and 0.5%-1.5% in 2025.
     - Labour is scarce, with unemployment at a historic low of 2.4%.
     - The central bank raised rates to 18% to combat persistent inflation.
     - Construction and banking are affected by high rates; capital investment remains robust.
     - Long-term issues include low population growth and a challenging investment climate.

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     Viking Chieftain (vikingchieftain@krigskunst.social)'s status on Saturday, 10-Aug-2024 20:29:57 JST Viking Chieftain

     in reply to

     • NeonPurpleStar :heart_bi:
     • Paladin :verified: :ak:

     @NeonPurpleStar @Paladin

     The ultra-rich in the US are already halfway there. They have a lot of influence on politicians. The lobbying system is not democratic. People vote and then the corporations (owned by the ultra-rich) get an extra say because they can send their paid people to Washington DC to influence the agenda and decisions. 🤔

     But I agree... Their wet dream is to have even more influence and the autocrat model would work well for them.

     NeonPurpleStar :heart_bi: likes this.