L’economia di guerra di Vladimir Putin si sta raffreddando, ma i russi si sentono ancora più ricchi
https://www.ft.com/content/485aba41-1148-4f2c-b0ab-97aac5e50727
di adventmix
L’economia di guerra di Vladimir Putin si sta raffreddando, ma i russi si sentono ancora più ricchi
https://www.ft.com/content/485aba41-1148-4f2c-b0ab-97aac5e50727
di adventmix
17 commenti
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Of course… That’s why no amount of sanctions will make them stop.
The world must liberate the whole of Ukraine with boots on the ground.
What do you mean by “cooling”? Do you mean “heating up” instead? Please someone use other terminology because it is confusing.
I would also feel richer when I am wasting my emergency funds for daily expenses, That is the basis of todays Russian economy: spending a lot of money inside its economy, making weapons that bring no value to the population and consequentially causing higher inflation
Ofc. After three years of war there is less russians to share with.
That’s why I don’t believe any article about Russian economy crumbling and tumbling any day now. Russians can shit in a hole for years and eat raw potatoes before the back down. That happened during WW2 and it’s their mentality. Until West understands that, there won’t be much change in war with Ukraine unfortunately.
Russians feel richer? Do they finally have a toilet in the house now?
wait: are those soldier in the picture going to Ukraine? smiling and white dressed?
what a gentle leader, vlad
What people fundamentally don’t understand is that war has **genuinely** helped the working class in Russia. This is not Russian disinformation or vatnik copium, it’s an actual socioeconomic fact.
The government has been investing heavily, using debt, in the economy. Wages have grown, money is flowing, and while there is rampant inflation, it is easily being covered by the rise in salaries.
So what gives?
Well, the oligarchs have been losing a lot of their own wealth, through sanctions and these increases in costs and wages that is being supported by their various businesses. Ironically, the war has managed to make wealth distribution way more fair in Russia, and since the oligarchs owe everything to Putin, they will not revolt.
The other group that is getting the short end of the stick is the pensioners: they are living through inflation without seeing the benefits of increasing wages. But pensioners are usually toughened, indoctrinated ex-soviet subjects who truly believe in Russia’s project, so they will (probably) not revolt either.
And in the meantime, Russia’s GDP is still growing, and life is getting “better” for regular working Russians.
Of course, this is not sustainable. There is no magic GDP infinity money hack at play. The government is becoming a lot poorer, and most of the invested money is not infrastructure or social services – it’s going into metal that then goes straight into Ukraine to get destroyed.
This is why most economists will explain that Putin has no incentive to stop the war, as he knows that the day that happens, the bubble will burst. Employment needs will falter, unemployment will skyrocket, wages will drop, and the government will be too poor to pay benefits, pensions or returning soldiers’ wages and bonuses.
This is the trap of the war economy, a trap that most expansionist dictators have fallen in at some point. The only way to sustain it is for the economy to completely isolate, and maintain an eternal war-like economy. Some dictatorships have done exactly that, like North Korea.
Jup all the young dead people feel particularly rich now
Less poor people because they’re seduced to die in Ukraine. Makes sense.
They’re also worsening a massive demographic crisis. Russia already has one of the worst birth rates in the world, and they’re sending their young men off to die, essentially killing their own workforce. Worse to Russia than the deaths is the wounded who return home, needing medical treatment and never being able to work again, costing the state even more to look after.
They’ve also hastened the world’s pivot away from fossil fuels in general and their fossil fuels in particular, so they’ve also choked off pretty much their only source of foreign capital.
>feel
they feel happier and greater, but in reality it is…well you know
Well I’m in Turkey on holiday from the UK and there are plenty of Russians here so they can’t all be skint yet!
Richer spiritually and firmly
Small sample size and anecdotal, I know, but all my Russian friends live better now than they did pre war. True story. Bigger incomes, cars, houses etc. Every time I mention sanctions, they make fun of it. The only thing they dislike is that they can’t cheaply go to Europe now. They still can, it’s just more expensive.
To be honest, life hasn’t changed much for me, even after the start of the war, wages have gone up, but prices have also gone up, so I continue to live steadily.