MOSCOW (AP) — The International Monetary Fund estimates that Russia’s economy has already entered recession.
Last year, Russia’s economy grew 1.3 percent, its weakest rate in the past 13 years with the exception of 2009, when the country suffered in the global downturn. The growth slowed further this year as investors pulled money out of the county amid concerns over Russia’s policy in Ukraine.
The head of the IMF mission in Russia, Antonio Spilimbergo, told reporters Wednesday that Russia is already in recession as fears of broad economic sanctions weigh on the economy.
A recession is commonly defined as two consecutive quarters of contraction. Russia’s economy shrank, quarter on quarter, in the first three months of the year.
While analysts keep cutting Russia’s forecasts, the Kremlin denies it faces recession.
So if we assume that Putin has surrounded himself with less-than socially progressive thinkers … and that Putin (while playing tough ) still wants to be a main character on the world stage … and so will play his strategies in a step by step manner … how long before some over eager ego maniac in Putin’s circle starts to grumble that Putin had not gone militant enough … has not killed enough dissenters … has allowed Russia to get pushed into a recession … add that to the very real possibility that unrest crops up elsewhere in Russia while Putin tries to take the Ukraine … and things could get bleak for Vlad … but scary for the world if he is replaced by a lunatic
This morning it was announced that U.S. GDP in the first quarter fell to a stunning .1%. This was far below the worst expectations of a paltry 1%.
If it wasn’t for spending on Obamacare GDP would’ve been negative 1%.
The U.S. economy, under the control of corporate America’s two political parties and their Central Bank, is being choked to death.
We need to stop worrying about Russia and start building a sustainable American economy and infrastructure for the 21st century.
Despite the GOP crowing about how “he-man” Putin is outsmarting “mom-pants” Obama, I think that Putin will be gone within one year if his adventurism results in a damaged Russian economy.