The truth is somewhere in the middle. There will be weeks or a month where Ukraine sees gains But Russians have time on their side and west won’t give weapons that can strike inside Russia and the west has an electorate it needs to partially listen to I don’t think people understand what europe is gonna be like this winter |
Are you sure about that? It was just announced that Russia has defaulted on its foreign debt for the first time since the Bolshevik revolution. |
That sounds bad, but didn't we do that a few years ago? The sky didn't fall then, for us or the world. |
No. The United States has never defaulted. As for Russia, the economic collapse will start slowly and end quickly - just like 1989. Empty grocery shelves, people bartering their possessions on the streets, USAID sending assistance from the American people, etc. |
Everyone understands this default is more symbolic than anything else since Russia is able to make payments but is structurally prevented from doing so by external forces. |
That’s not a genuine default. It’s a default because sanctions bar Russia from paying bonds in rubles. |
People have been saying this since day one but it hasn't happened. Actually, Russia's Central Bank is doing a remarkably professional job under the circumstances. |
| Russia is winning the war. Americans don’t care about Ukrainians anymore. |
It really shouldn't. I mean if the US invaded Canada, it wouldn't matter to Russia at all. The US isn't inserting itself into the conflict because it has a conscientious objection to invasions, I can tell you that. |
Well we'll find out, won't we. |
In the meantime, CBP is concerned about Ukraine's recruitment of "racially and ethnically motivated violent extremists - white supremacists" American citizens, and about what they will do here when they return. But of course we aren't told about that. https://www.documentcloud.org/documents/22022879-7-march-2022-dhs-cbp-intelligence-note-re-united-states-citizens-joining-the-fight-for-ukraine |
no one in finance is concerned about the default because it wasn’t an Argentinan situation of lacking the ability to pay. Bond holders aren’t gonna call/appropriate collateral/sue Russia They’ll hold their coupons and hope to recoup. The default wasnt due to lack of ability or will to pay. It was due to intermediaries being forced not to process payment. |
The Russian cb head is a total queen. I wonder why women don’t hold her in high regard like yellen or lagarde…. |
Yeah. They held the czarist ones for a long time and never recouped. But, Russia’s problem is that it won’t be able to access additional financing. So, less for the kleptocracy and nothing for economic growth. Face it, Putin got lucky with the phenomenal growth Russia had in the 2000s and wasted it all. |