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Revision as of 05:12, July 2, 2023
, 05:12, July 2, 2023→Is Russia repeating the Soviet Union's mistake? Putin talks about guns and butter: new section
:::No one is interested in listening to you pretend to sound intelligent, except yourself, when you do not even understand the purpose of a conversation between three other good faith editors. 23:47, July 1, 2023 (EDT)
:::No one is interested in listening to you pretend to sound intelligent, except yourself, when you do not even understand the purpose of a conversation between three other good faith editors. 23:47, July 1, 2023 (EDT)
::::Nishant recently upbraided you for engaging in personal attacks and other rude and boorish behavior. He did no such thing with me. Please exercise some self-awareness as it is needed. [[User:Conservative|Conservative]] ([[User talk:Conservative|talk]]) 00:51, July 2, 2023 (EDT)
::::Nishant recently upbraided you for engaging in personal attacks and other rude and boorish behavior. He did no such thing with me. Please exercise some self-awareness as it is needed. [[User:Conservative|Conservative]] ([[User talk:Conservative|talk]]) 00:51, July 2, 2023 (EDT)
== Is Russia repeating the Soviet Union's mistake? Putin talks about guns and butter ==
[https://www.wsj.com/articles/russias-economy-is-starting-to-come-undone-431a2878 Russia’s Economy Is Starting to Come Undone], ''Investment is down, labor is scarce, budget is squeezed. Oligarch: ‘There will be no money next year’'', ''Wall Street Journal'', March 2023
"The country’s biggest exports, gas and oil, have lost major customers. Government finances are strained. The ruble is down over 20% since November against the dollar. The labor force has shrunk as young people are sent to the front or flee the country over fears of being drafted. Uncertainty has curbed business investment.
“Russia’s economy is entering a long-term regression,” predicted Alexandra Prokopenko, a former Russian Central Bank official who left the country shortly after the invasion.
There is no sign the economic difficulties are bad enough to pose a short-term threat to Russia’s ability to wage war. But state revenue shortfalls suggest an intensifying dilemma over how to reconcile ballooning military expenditures with the subsidies and social spending that have helped President Vladimir Putin shield civilians from hardship.
Russian billionaire Oleg Deripaska warned this month that Russia is running out of cash. “There will be no money next year, we need foreign investors,” the raw-materials magnate said at an economic conference...
“Despite Russia’s resilience in the short term, the long-term picture is bleak: Moscow will be much more inward-looking and overly dependent on China,” said Maria Shagina, a senior fellow at the International Institute for Strategic Studies think tank in London....=
“You know, there is a maxim, guns versus butter,” Mr. Putin said in a state-of-the-nation address last month. “Of course, national defense is the top priority, but in resolving strategic tasks in this area, we should not repeat the mistakes of the past and should not destroy our own economy.”
For much of Mr. Putin’s more than 20 years in charge, high oil and gas revenue underpinned a social contract that saw most Russians largely staying out of opposition politics and protests in exchange for rising living standards.
The International Monetary Fund has estimated that Russia’s potential growth rate—the rate at which it could grow without courting inflation—was around 3.5% before 2014, the year it seized Crimea from Ukraine. That has now fallen to around 1%, some economists say, as productivity declines and the economy becomes technologically backward and more isolated."[https://www.wsj.com/articles/russias-economy-is-starting-to-come-undone-431a2878] [[User:Conservative|Conservative]] ([[User talk:Conservative|talk]]) 01:12, July 2, 2023 (EDT)