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It seems Russia again is trying to divide Europe, to get some countries away from NATO and the EU. Around 2007-2010, they were trying to get support from "Old Europe" (France, Germany) against the "New" one (Poland, Baltic states). It didn't work, as the Mistral deal proved. Now Russia seems to be trying to make a divide between southern, "poor" Europe (Greece, Hungary, Italy, Spain) against "rich" (France, Germany). I am again skeptical that it will work. The best thing Russia can do is to break ties with the West, if possible slowly in order not to suffer from any economic issue, and create new and stronger bonds with Asia. Even US allies in Asia (like South Korea and Singapore) have showed independence from US foreign policy and refused to apply sanctions against Russia. Asians are very pragmatic, and this is the kind of partners Russia needs, not ideologized Europeans who only care about teaching lessons on "human rights" and "democracy" to Russia.
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Russian Economy General News: #4
Svyatoslavich- Posts : 399
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Join date : 2015-04-22
Location : Buenos Aires
zg18- Posts : 888
Points : 958
Join date : 2013-09-26
Location : Zagreb , Croatia
Karl Haushofer wrote:I was referring to living standards which are still higher on average in Greece than in Russia, even if it due to Greek being able live on debt from western banks
What good is higher GDP per capita if you have 30% unemployment and those few who work are too indebted?
kvs- Posts : 15851
Points : 15986
Join date : 2014-09-11
Location : Turdope's Kanada
Per capita GDP is trickle down voodoo economics.
The USA has a large per capita GDP, but that does not translate into equivalent wages (i.e. $55,000 per year for each member of the
household giving a combined income of $175,000) because corporate revenues do not trickle down to the US worker. In fact,
a huge part of that GDP is due to offshore activity of US transnationals. The proper metric of the domestic economy is the GNP,
but nobody uses it these days.
As noted already, using debt to fluff up the GDP is also a crock. You need to subtract debt servicing per capita from the GDP
per capita. For some reason this is never done.
The USA has a large per capita GDP, but that does not translate into equivalent wages (i.e. $55,000 per year for each member of the
household giving a combined income of $175,000) because corporate revenues do not trickle down to the US worker. In fact,
a huge part of that GDP is due to offshore activity of US transnationals. The proper metric of the domestic economy is the GNP,
but nobody uses it these days.
As noted already, using debt to fluff up the GDP is also a crock. You need to subtract debt servicing per capita from the GDP
per capita. For some reason this is never done.
Firebird- Posts : 1808
Points : 1838
Join date : 2011-10-14
kvs wrote:Per capita GDP is trickle down voodoo economics.
The USA has a large per capita GDP, but that does not translate into equivalent wages (i.e. $55,000 per year for each member of the
household giving a combined income of $175,000) because corporate revenues do not trickle down to the US worker. In fact,
a huge part of that GDP is due to offshore activity of US transnationals. The proper metric of the domestic economy is the GNP,
but nobody uses it these days.
As noted already, using debt to fluff up the GDP is also a crock. You need to subtract debt servicing per capita from the GDP
per capita. For some reason this is never done.
GDP is much worse than that. All it is is the amount of total sales. So me and you could buy and sell $50 of shit between each other 10, 000 times per day, and THAT would count to GDP.
I mean Britain counts hookers and heroin/crack street sales as GDP!
Also GDP is bumped up by taxes. Huge amount on fuel and often 45% for workers. PLus the amt they have to spend on heathcare, college education etc in the US. Compare that to Russia with its free healthcare and low cost education and lower taxes.
Sure some Americans are wealthy. But there are something like 70m of them in trailer parks. God knows how many more live in absolute slums with no healthcare, work or anything. Vast numbers of poor Americans are even in jail.
Regular- Posts : 3894
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Join date : 2013-03-10
Location : Ukrolovestan
Those damn greeks live better than Eastern EU countries. no one to blame but their own politiciansKarl Haushofer wrote:I was referring to living standards which are still higher on average in Greece than in Russia, even if it due to Greek being able live on debt from western banks.flamming_python wrote:Karl Haushofer wrote:Finnish media is saying that Russia has promised to give free fuel to Greece to aid the country in crisis. The article did not mention about quantities though. Hopefully Russia is not wasting its money for nothing, again. Greece is – even in its current state – a wealthier country than Russia. I don’t think poorer countries should be aiding richer ones like this, unless Russia gets something back in return.
Don't see how Greece is actually more wealthy than Russia; it's unemployment rate is humungous (while Russia's is very small) and its social support system has been getting ravaged by austerity for the last 5 years.
It may have higher GDP per capita but per capita, each Greek citizen owes more to EU banks than he could produce in economic worth over a period of several years.
But anyway, hopefully this will be only a symbolic gesture from Russia and nothing more. Russia has its own citizens to take care of.
Viktor- Posts : 5796
Points : 6429
Join date : 2009-08-25
Age : 44
Location : Croatia
Nice 
Putin decree created the free port of Vladivostok
BRICS economy significantly surpass G7
Putin decree created the free port of Vladivostok
BRICS economy significantly surpass G7
George1- Posts : 18515
Points : 19020
Join date : 2011-12-22
Location : Greece
Worst scenarios of Russian economy’s development avoided — PM Medvedev
Speaking at a meeting on the implementation of the anti-crisis plan the Prime Minister said that the situation in the economy remains complicated but manageable
GORKI, July 13. /TASS/. The worst forecasts for the Russian economy development did not come true, the situation remains complicated but manageable, Prime Minister Dmitry Medvedev said on Monday.
Speaking at a meeting on the implementation of the anti-crisis plan, Medvedev said that the plan had been made under conditions, "when various forecasts for the development of the economy were voiced including the most pessimistic ones."
"Nevertheless, it looks like the worst scenarios did not come true, the situation in the economy remains complicated but manageable," the Prime Minister said.
Medvedev urged the ministry to continue monitoring to ensure that all budget funds reach the final beneficiaries.
The Prime Minister praised the joint work of the Cabinet, the Central Bank, legislative bodies and the authorities of the regions that approved their own anti-crisis plans.
"We should to continue to monitor the situation on the ground, keep track of what is happening on the largest enterprises, which are seen as strategically important, to constantly monitor the implementation of all previous instructions to ensure that all budget funds reach the final beneficiaries — which are industrial and agricultural enterprises, and a number of other organizations," the Prime Minister said.
The Prime Minister reiterated the importance of the measures to support the real sector, in particular — of the project financing.
In particular, Medvedev said that the government had decided to grant state guarantees for the sum of more than 20 billion rubles ($351.6 mln) to 12 projects.
As part of the anti-crisis plan, significant funds were allocated to support the agricultural sector.
"Amid the ongoing sanctions pressure, our farmers received additional opportunities to supply their products," - the head of the government said.
He added that in January-May, agricultural companies increased volumes of agricultural production by 3.3% as compared to January-May 2014.
"That means that these measures bring their benefits, have their effect," Medvedev said.
Medvedev also said that the program for renovation of transportation vehicle fleet proved to be in demand. He added that it was decided to allocate 5 bln rubles ($88 mln) on this program in addition to 10 bln rubles ($176 mln) allocated earlier.
Speaking at a meeting on the implementation of the anti-crisis plan the Prime Minister said that the situation in the economy remains complicated but manageable
GORKI, July 13. /TASS/. The worst forecasts for the Russian economy development did not come true, the situation remains complicated but manageable, Prime Minister Dmitry Medvedev said on Monday.
Speaking at a meeting on the implementation of the anti-crisis plan, Medvedev said that the plan had been made under conditions, "when various forecasts for the development of the economy were voiced including the most pessimistic ones."
"Nevertheless, it looks like the worst scenarios did not come true, the situation in the economy remains complicated but manageable," the Prime Minister said.
Medvedev urged the ministry to continue monitoring to ensure that all budget funds reach the final beneficiaries.
The Prime Minister praised the joint work of the Cabinet, the Central Bank, legislative bodies and the authorities of the regions that approved their own anti-crisis plans.
"We should to continue to monitor the situation on the ground, keep track of what is happening on the largest enterprises, which are seen as strategically important, to constantly monitor the implementation of all previous instructions to ensure that all budget funds reach the final beneficiaries — which are industrial and agricultural enterprises, and a number of other organizations," the Prime Minister said.
The Prime Minister reiterated the importance of the measures to support the real sector, in particular — of the project financing.
In particular, Medvedev said that the government had decided to grant state guarantees for the sum of more than 20 billion rubles ($351.6 mln) to 12 projects.
As part of the anti-crisis plan, significant funds were allocated to support the agricultural sector.
"Amid the ongoing sanctions pressure, our farmers received additional opportunities to supply their products," - the head of the government said.
He added that in January-May, agricultural companies increased volumes of agricultural production by 3.3% as compared to January-May 2014.
"That means that these measures bring their benefits, have their effect," Medvedev said.
Medvedev also said that the program for renovation of transportation vehicle fleet proved to be in demand. He added that it was decided to allocate 5 bln rubles ($88 mln) on this program in addition to 10 bln rubles ($176 mln) allocated earlier.
George1- Posts : 18515
Points : 19020
Join date : 2011-12-22
Location : Greece
Brazil confirms intention to increase purchases of grain and fish from Russia
"Since Russia gives us the priority positions in other areas, Russian suppliers have a very chance to take a good share of the market," Brazilian minister said
UFA, July 10. /TASS/. Brazil confirmed its interest to increase the purchases of grain, fish and fertilizers from Russia, Minister of Agriculture, Livestock, and Food Supply of Brazil Katia Abreu said Friday in an interview with RBC channel.
"At the moment we import wheat from countries that are not our strategic partners. Since Russia gives us the priority positions in other areas, Russian suppliers have a very chance to take a good share of the market," Abreu said.
"We buy quite a lot of fish, despite the fact that we have 12% of fresh water in the world. The prospects here are also very high. Russia also provides 25%-30% of all fertilizer deliveries. And many more areas have potential," she said.
After Russia introduced good embargo, supplies from Brazil to Russia increased by 30%, the Minister continued. Primarily increased Brazilian exports of pork, which replaces the European banned pork due to the epidemic of African swine fever in EU.
"In the future we would like to expand our cooperation in the fruit export. I believe that dairy products will also become the most important item in our export," Abreu said.
As TASS reported earlier, on Wednesday the Russian Agriculture Minister Alexander Tkachev and a delegation from Brazil held a meeting in Moscow on strengthening the trade of goods in the agricultural sector and cooperation in agricultural science. In particular, Russia and Brazil reached the agreement on the deliveries of Russian wheat to Brazil.
"Since Russia gives us the priority positions in other areas, Russian suppliers have a very chance to take a good share of the market," Brazilian minister said
UFA, July 10. /TASS/. Brazil confirmed its interest to increase the purchases of grain, fish and fertilizers from Russia, Minister of Agriculture, Livestock, and Food Supply of Brazil Katia Abreu said Friday in an interview with RBC channel.
"At the moment we import wheat from countries that are not our strategic partners. Since Russia gives us the priority positions in other areas, Russian suppliers have a very chance to take a good share of the market," Abreu said.
"We buy quite a lot of fish, despite the fact that we have 12% of fresh water in the world. The prospects here are also very high. Russia also provides 25%-30% of all fertilizer deliveries. And many more areas have potential," she said.
After Russia introduced good embargo, supplies from Brazil to Russia increased by 30%, the Minister continued. Primarily increased Brazilian exports of pork, which replaces the European banned pork due to the epidemic of African swine fever in EU.
"In the future we would like to expand our cooperation in the fruit export. I believe that dairy products will also become the most important item in our export," Abreu said.
As TASS reported earlier, on Wednesday the Russian Agriculture Minister Alexander Tkachev and a delegation from Brazil held a meeting in Moscow on strengthening the trade of goods in the agricultural sector and cooperation in agricultural science. In particular, Russia and Brazil reached the agreement on the deliveries of Russian wheat to Brazil.
Viktor- Posts : 5796
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Nice
Putin signed a law on SRO, rating agencies
Chinese AVIC Forestry will invest 74.5 billion rubles of the Russian Federation
Russia to Continue Being Iran's Key Strategic Partner - Zarif
Russia, Iran Discuss Establishment of Joint Car Production Venture
Lifting of Anti-Iran Sanctions to Boost Trade With Russia - Moscow
Constitutional Court rules Russian law above European HR Court decisions
Putin signed a law on SRO, rating agencies
Chinese AVIC Forestry will invest 74.5 billion rubles of the Russian Federation
Russia to Continue Being Iran's Key Strategic Partner - Zarif
Russia, Iran Discuss Establishment of Joint Car Production Venture
Lifting of Anti-Iran Sanctions to Boost Trade With Russia - Moscow
Constitutional Court rules Russian law above European HR Court decisions
The Supreme Russian Court has established that no international treaty or convention has precedence over national sovereignty, and decisions by the European Court of Human Rights (ECHR) should be upheld only when they don’t contradict basic Russian law.
Hannibal Barca- Posts : 1457
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Join date : 2013-12-13
Interesting map:
Viktor- Posts : 5796
Points : 6429
Join date : 2009-08-25
Age : 44
Location : Croatia
Nice
Putin: from $ 5 billion IMF loan Ukraine - $ 3 billion to us
Putin: from $ 5 billion IMF loan Ukraine - $ 3 billion to us
Cucumber Khan- Posts : 81
Points : 78
Join date : 2015-04-12
Viktor wrote:Nice
Putin: from $ 5 billion IMF loan Ukraine - $ 3 billion to us
Well, that's what he WANTS. No guarantee that it will happen. And knowing the Ukraine, it most probably won't.
kvs- Posts : 15851
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Join date : 2014-09-11
Location : Turdope's Kanada
Cucumber Khan wrote:Viktor wrote:Nice
Putin: from $ 5 billion IMF loan Ukraine - $ 3 billion to us
Well, that's what he WANTS. No guarantee that it will happen. And knowing the Ukraine, it most probably won't.
Ukraine is the collection of idiots doing all the wanting. They will be getting nothing of what they want and that is
much more than a measly $3 billion.
sepheronx- Posts : 8839
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Join date : 2009-08-06
Age : 35
Location : Canada
Will ghost towns like US Detroit appear in Russia?
This has been a problem for a long time. I think it is high time that Russian government does something to help stem this situation. And I don't mean about simply handing out money as it clearly wont work. I think instead, they need to turn some of these less depressed monograds (ones that are lesser on the failing list) and start using those as a method to transfer industries from the more failing monograds to these more successful ones. So they can turn at least half or less of these failing monograds into actual functioning cities/towns. To do this, they could make it lucrative for the companies of the failing monograds to move over by turning some of these monograds into special economic zones or special industrial zones. At that point, they will diversify at least a few of them and be able to help move the population over.
This is at least one method. Does anyone here have any other ideas?
This has been a problem for a long time. I think it is high time that Russian government does something to help stem this situation. And I don't mean about simply handing out money as it clearly wont work. I think instead, they need to turn some of these less depressed monograds (ones that are lesser on the failing list) and start using those as a method to transfer industries from the more failing monograds to these more successful ones. So they can turn at least half or less of these failing monograds into actual functioning cities/towns. To do this, they could make it lucrative for the companies of the failing monograds to move over by turning some of these monograds into special economic zones or special industrial zones. At that point, they will diversify at least a few of them and be able to help move the population over.
This is at least one method. Does anyone here have any other ideas?
GarryB- Posts : 40522
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Join date : 2010-03-30
Location : New Zealand
One company cities and towns need to diversify, but "detroit" can happen anywhere any one company gets too big to fail...
the towns and cities themselves need to drive diversity and promote themselves to other, perhaps related industries to make their existing companies more competitive...
the towns and cities themselves need to drive diversity and promote themselves to other, perhaps related industries to make their existing companies more competitive...
Austin- Posts : 7617
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Location : India
Nuland is threatning more sanctions against Russia
US Prepares to Put More Pressure on Russia, Threatens ‘Scaling Up Costs
US Prepares to Put More Pressure on Russia, Threatens ‘Scaling Up Costs
Austin- Posts : 7617
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Join date : 2010-05-08
Location : India
I suspect the Neocons are upto something and Merkel must be hand and glove in this.
I think Russia should sell 50 % of the $60 billion US Bonds and Buy Chinese and BRICS bonds which fetches higher interest.
Also cut a deal with China to sell Oil In Yuan in return for Massive investment.
The chinese just lost $3.5 Trillion in Stock in span of a month and they are not even coughing , Chinese can generate tremendous wealth and credit , better to make most use of it.
I think there must be some Western Sympathiser in CB and Putins cabinet that must be against closer co-operation with china
I think Russia should sell 50 % of the $60 billion US Bonds and Buy Chinese and BRICS bonds which fetches higher interest.
Also cut a deal with China to sell Oil In Yuan in return for Massive investment.
The chinese just lost $3.5 Trillion in Stock in span of a month and they are not even coughing , Chinese can generate tremendous wealth and credit , better to make most use of it.
I think there must be some Western Sympathiser in CB and Putins cabinet that must be against closer co-operation with china
Austin- Posts : 7617
Points : 8014
Join date : 2010-05-08
Location : India
some positive news
Sanctions Leading to a Russian Industrial Renaissance - Japanese Journalist
http://sputniknews.com/business/20150718/1024783910.html
Sanctions Leading to a Russian Industrial Renaissance - Japanese Journalist
http://sputniknews.com/business/20150718/1024783910.html
max steel- Posts : 2930
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Join date : 2015-02-12
Location : South Pole
Austin wrote:I suspect the Neocons are upto something and Merkel must be hand and glove in this.
I think Russia should sell 50 % of the $60 billion US Bonds and Buy Chinese and BRICS bonds which fetches higher interest.
Also cut a deal with China to sell Oil In Yuan in return for Massive investment.
The chinese just lost $3.5 Trillion in Stock in span of a month and they are not even coughing , Chinese can generate tremendous wealth and credit , better to make most use of it.
I think there must be some Western Sympathiser in CB and Putins cabinet that must be against closer co-operation with china
Sir ji aapko pata bhi hn the truth behind those 3.5 trillion loss and how it doesn't affect Chinese economy at all . Except those paid western media pundits from reuters to bloomberg and even zerohedge calling for Chinese stock crash , bubble bursting etc etc pata nahi kya kya .
AlfaT8- Posts : 2488
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Join date : 2013-02-02
Ooh please, Merkel can't do sh#t, she's simply in the corner sucking her thump waiting for her masters call, she isn't needed anymore for the U.S ops in UkrAustin wrote:I suspect the Neocons are upto something and Merkel must be hand and glove in this.
All in do time.I think Russia should sell 50 % of the $60 billion US Bonds and Buy Chinese and BRICS bonds which fetches higher interest.
I think they already did that.Also cut a deal with China to sell Oil In Yuan in return for Massive investment.
I ain't an economist, but i don't see Chinese economy crooking anytime soon.The chinese just lost $3.5 Trillion in Stock in span of a month and they are not even coughing , Chinese can generate tremendous wealth and credit , better to make most use of it.
Hopefully those parasites will be dealt with accordingly over time.I think there must be some Western Sympathiser in CB and Putins cabinet that must be against closer co-operation with china
sepheronx- Posts : 8839
Points : 9099
Join date : 2009-08-06
Age : 35
Location : Canada
Austin wrote:Nuland is threatning more sanctions against Russia
US Prepares to Put More Pressure on Russia, Threatens ‘Scaling Up Costs
And I wonder what they will do exactly? Trade amongst Russia and US was piss poor, and there really isn't much more they can do now since they banned banks and banned long term interest rates. So they will ban short term interest rates, and then what? Ban Russian oil/gas and ban Russia from swift, whom is now on the board of directors? If that is the case, US would be shooting itself in the foot. If they are going to put more people on black list, oh well, that wont do shit.
USA is greatly overstating their so called economic strength over Russia. But I think they know exactly they got nothing. China recently dumped billions if not more of US Bonds, and Russia will end up following suite. Only thing that stands in the way are those IMF stooges in the CBR. But my bet is that if they do try to push more sanctions in the credit market against Russia, it will just force the Russian government to be more proactive against their CBR and finally put an end to their 5th columnist like activities.
Austin- Posts : 7617
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Join date : 2010-05-08
Location : India
Good Read and Must Read
Greece’s Lesson For Russia — Paul Craig Roberts
Greece’s Lesson For Russia — Paul Craig Roberts
Austin- Posts : 7617
Points : 8014
Join date : 2010-05-08
Location : India
Good Read and Must Read
Greece’s Lesson For Russia — Paul Craig Roberts
Greece’s Lesson For Russia — Paul Craig Roberts
sepheronx- Posts : 8839
Points : 9099
Join date : 2009-08-06
Age : 35
Location : Canada
Austin wrote:Good Read and Must Read
Greece’s Lesson For Russia — Paul Craig Roberts
Definitely a good read. Thank you Austin for finding this gem. And it pretty much takes a stab at the Russian economists like the ones in economic ministry right now. Just wish the bigger heads would listen to Paul Craig Roberts and actually fire those incompetent boobs (as said, Austerity causes more problems than solves them).
Austin- Posts : 7617
Points : 8014
Join date : 2010-05-08
Location : India
sepheronx wrote:
And I wonder what they will do exactly? Trade amongst Russia and US was piss poor, and there really isn't much more they can do now since they banned banks and banned long term interest rates. So they will ban short term interest rates, and then what? Ban Russian oil/gas and ban Russia from swift, whom is now on the board of directors? If that is the case, US would be shooting itself in the foot. If they are going to put more people on black list, oh well, that wont do shit.
The penalties could start with banning more Russian government officials and businessmen from traveling and doing business in the West, U.S. and European officials said. But they can climb dramatically to include new measures to crimp the country's all-important fuel exports, cut Russian banks off from international financial transactions and severely limit the capacity of Russian businesses to engage in lucrative business deals overseas.
The Americans and the Europeans are working off the same menu of contingency measures, the officials said, though there is no agreement yet on what level of response would be appropriate for each type of infraction.
Read more: http://www.businessinsider.com/europe-and-the-us-are-readying-a-new-round-of-crippling-sanctions-against-russia-2015-6#ixzz3gGsgT7aN