Russian banks went down en masse, the spread of foreign currencies was larger than the official numbers, and people were queuing outside the banks to withdraw money.
Of course, the Russian narrative is that this will hurt the west more than it will hurt Russia...
Huh? In what world?
> the Russian narrative
Dont say such things after saying stuff like you just did above. You people live in such a delusional false reality propagated by your establishment that its worse than 2003. Ukraine is 'winning' despite losing, Russia is sinking despite becoming the 4th largest economy and having major increase in real wages, US economy is 'doing fine' even as the number and size of the sunken US banks eclipse 2008.
Sixth [1] to 11th [2], on track to being eclipsed by Indonesia and Mexico.
> having major increase in real wages
Real wages are up, yes, but real disposable income is flat [3].
This isn’t uncommon in a war footing [4]. Labour and necessities are diverted to the front, raising prices for both. That squeezes disposable income, which moderates price growth in luxuries. The effect, if you’re measuring with a pre-war basket of goods, is rising real earnings and falling disposable income.
[1] https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(PP... PPP
[2] https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(no...
[3] https://www.reuters.com/markets/europe/putin-grows-war-econo...
What part of it is 'sinking'? It increased its oil exports. It increased its other resource exports. Europe is still buying Russian gas and oil, except through India and its now called 'Indian oil'. It achieved independence in a lot of things that it was buying from the West, mixing it with homegrown products and global south imports. The sanctions HIT EUROPE MORE, with all the European companies losing their market share in Russia and their market share being taken over by Russian companies and Chinese ones.
The references are from REUTERS, none other than one of the Angloamerican establishment mouthpieces that sells every war including how they sold the WMD lies, and some aggregate of Wikipedia articles that are tangential and supposed to be relevant?
Here's what's relevant:
https://siepr.stanford.edu/publications/policy-brief/fragile...
> This isn’t uncommon in a war footing [4]. Labour and necessities are diverted to the front, raising prices for both. That squeezes disposable income, which moderates price growth in luxuries. The effect, if you’re measuring with a pre-war basket of goods, is rising real earnings and falling disposable income.
None of that is applicable to the actual reality that Russians themselves report, you are just flat out theorizing what 'should happen' with absolutely no connection to the actual reality.
Everything you say and believe is in line with things like 'ghost of kiev', "ukraine will reach Moscow in a month", "Russia wanted to conquer Ukraine in 3 months but it couldn't", "Chinese economy is set for a hard landing (yet) again" and all that sh*t.
...
Really, you people live in la la land. Your worst enemy is not Russia or China. Its you and your delirious 'I prefer to believe what I like to hear" attitude.
Downvote this post. It will make the reality go away.
Revenues are down [1].
> Here's what's relevant
You're linking to a paper on bank runs. We had a bunch last year, and another a few months ago.
You didn't notice? That's okay. Most Americans didn't notice either.
(That said, I appreciate your citing a source. You'll note that the authors suggestions were recently implented.)
> None of that is applicable to the actual reality that Russians themselves report
Real disposable income is down. According to Russia.
[1] https://oilprice.com/Energy/Energy-General/Russian-Oil-is-Fu...