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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsLet's Talk About Inflation - In Russia
Russian central bank has kept interest rates at 16% trying to curb high prices. Beets are up 26%, potatoes up 91%. Where is Tucker Carlson now? The 16% rate is having no impact on inflation.
Workers have been moved from the private sector to working for the military, and working long hours. Yet the problem is a labor shortage. Hundreds of thousands of Russians have fled Russia to avoid the draft where Putin has been mobilizing as many as 30,000 soldiers every month.
Imports from China and Turkey have fallen because of sanctions.
Not only is Putin losing the military war in Ukraine, he is losing the economic war in Russia, and he is about to lose political war in the United States when Kamala Harris demolishes his puppet.
https://www.msn.com/en-us/money/markets/putin-s-latest-problem-is-runaway-inflation/ar-BB1qEioz?ocid=msedgdhp&pc=HCTS&cvid=03f93433e7b54376b81dd764fd91fe25&ei=42
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PeaceWave
(565 posts)chicoescuela
(1,317 posts)LetMyPeopleVote
(151,425 posts)Irish_Dem
(55,272 posts)We must be aware of his attempts to thwart the election.
Igel
(35,862 posts)And it probably shouldn't.
At some point demand from the common folk is going to be pretty inelastic.
At the same time, the government just keeps up ramping up spending and pushing people into military production supply lines, reducing the civilian workforce by motivating emigration or sending men off to be cannon fodder, all the while chewing through assets and inflating the money supply (let's ignore any supply disruptions to the civilian market).
For the same reason, the USSR tended to have frequent devaluations of their currency. I'd pick up a book at Kamkin Bookstore when it was still in existence and I was in the Rockville, MD, area and there were a couple of rounds of prices crossed out and the decimal point moved left or a book had been restamped with the price prior to being sent from the printer's.
You need a strong central executive branch for a forceful industrial policy and Russia's a nice one-party state at this point. (All of which ultimately become unbraked and unconstrained.)