This is about middle of the winter, and Russia (Putin) continues with their insane offensive, maybe an attempt to look strong before negotiations.
But with only 3 days until Trump's inauguration, let's have a look at what Putin is doing to Russia, aside from the horrendous human losses.
The points are numbered so it's easier to comment on individual points:
- Central bank interest rate at 21% an all time high.
- Inflation even acknowledged by the central bank is more than twice the economic target. But in reality probably double that again.
- The inflation hits ALL essentials. with steep increases in food, housing and electricity.
- Real estate market frozen due to end of preferential treatment of real estate loans. With collapse in the near future very likely.
- State running at a deficit, despite tax increases and pushing cost to businesses.
- Gazprom near bankrupt, with the rest of the energy industry struggling too.
- The industrial complex should be making money, but is running at significant deficits, because the state dictate the prices. And banks are FORCED to lend money to it to keep it running.
- Shortage of base products like butter, eggs and vegetables.
- Persistent rumors about frozen bank accounts, signaling an eminent collapse of the financial market.
- Investments almost at a complete standstill, due to interest rates and most companies running at deficits, making even maintaining current productivity impossible.
- Pensions (about $200) have become impossible to live on, due to rising cost. Causing widespread poverty.
- Shortage of workers, in an unsustainable overheated economy, that at the same time is effectively in recession now.
- The economic cost of the war, is estimated to be more than twice what the budget shows, with the real cost hidden using different types of economic trickery, that hides the cost, but obviously don't change reality.
So this is Putin's attempt at looking strong!?
Please let me know if I forgot anything.