Misreading the Russian Economy

In my latest piece for RT, I discuss Joe Biden’s recent statement that Russia has ‘an economy that has nuclear weapons and oil wealth and nothing else. Nothing else.‘ The Russian economy does indeed have many problems, I point out, but failure to produce anything other than nuclear weapons and oil isn’t of them.

Read here,

6 thoughts on “Misreading the Russian Economy”

  1. In psychology this is called Projection.
    Remember accusing Russia of something is the Dem method of denying they they are doing it worse. Trump corruption with Russia = Hillary Uranium One denial. Russian hacking = we don’t really hack Trump or Merkel. Russian aggression = someone had a coup in Ukraine but it wasn’t us.
    So Russia has a crap economy really means “it is OK folks, they may have all the weapons but we have the strong economy”. It is what I would say if I were US president.
    China may have an economy but they are decades behind us in nuclear missiles …….

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  2. …and now you are also an economist, Mr. Robinson! Wow! Is there any sphere of human knowledge that you are unable to comment on? Like, should we expect your piece on the String Theory next? I wager it would be equally informative and useful!

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      1. All for a substantively based constructive criticism like the ones highlighting Meduza but not noting what happened beforehand to the Strategic Culture Foundation.

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  3. This is called “a strawman argument”, naturally, and it is pulled out of the same psychological projection mentioned above. A very common and blunt move on the side of US which they are too keen to apply every time – not only out of chronic cynicism, but out of terminal cretinism also. Worse part of the deal comes when you are actually trying to pull strawman argument on them – and it turns out you can’t because they are already past your point.

    The most obvious problem of Russian economy is the current legacy of 90s liberal reforms which does not allow to untangle the whole sectors of it from the grip of international cartels. And while the situation is a whole lot better than most of the world can hope to achieve, this still means there are a lot of backdoors in sovereign status of the state which are visited regularly and by entire columns of foreign agents with their own interests.

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  4. It is strange that war-mongers say a country is poor AND dangerous at the same time. They can’t be. To wage war, said Napoleon, you need money, money and money. And no country has ever started a war when having bad affairs, see Joshua Goldstein: Long cycles; prosperity and war in the modern age, Yale 1988.

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