zlacker

>>tedsan+(OP)
This is so much money with which we could actually solve problems in the world. maybe even stop wars which break out because of scarcity issues.

maybe i am getting to old or to friendly to humans, but it's staggering to me how the priorities are for such things.

>>deknos+6a1
>wars which break out because of scarcity issues

That doesn't seem to be much of a thing these days. If you look at Russia/Ukraine or China/Taiwan there's not much scarcity. It's more bullying dictator wants to control the neighbours issues.

>>tim333+Vg1
There's a terrifying amount of food insecurity and poverty in Russia - https://www.globalhungerindex.org/russia.html - https://databankfiles.worldbank.org/public/ddpext_download/p...

>>dbspin+uq1
Russia is run by the mob. The country has no real dominant industry beyond its natural resources. Are they really a good example?

>>infect+wC1
Not according to the World Bank:

https://thedocs.worldbank.org/en/doc/d5f32ef28464d01f195827b...

Furthermore, they became #4 GDP PPP last year and and were reclassified as a high income country.

https://www.intellinews.com/russia-s-economy-is-booming-3289...

The poorer regions are actually benefiting from high contract salaries. How sustainable that is, guess we'll see.

>>cpursl+M73
> they became #4 GDP PPP

That doesn't mean much on its own. Their per capita GDP is still low.

Also arguably their GDP figures are worth even less than Ireland's. A huge proportion of Russia's economy is tied in military production (and huge proportion of that is funded through debt).

If you make a rocket worth $1 million and then blow it up the next month that cost is obviously included in GDP but it's literally the equivalent of burning money/productivity.

>>qwytw+aq5
Their debt to GDP ratio was 14.6% at the end of 2024, a decrease from 2023. US is 123.1% of GDP while Ireland is at 42.7%. And PPP is the number that matters - its one of the big factors which governs quality of life, at which price you can produce and sell widgets, bushels, etc. And btw, that guns/butter calculus also applies to the US, etc.

>>cpursl+UH5
> Their debt to GDP ratio was 14.6% at the end of 2024, a decrease from 2023

Allegedly almost half of their defense budget since the war began was funded through private forced loans issues by banks directly to (effectively state owned?) military contractors. So that's not reflected in their military budget.

Also I doubt Russia could borrow a lot on the international markets even if they wanted to. Certainly not cheaply (like the US or especially Eurozone countries)

> And PPP is the number that matters - its one of the big factors which governs quality of life

Again... Russia's GDP per capita is still quite low (even if significantly higher than nominal).

Also if your nominal GDP is inflated by defence spending and energy exports and you multiply it with PPP (i.e. consumer price index) what exactly do you get?

> PPP is the number

Metrics adjusted by PPP might. What do you mean by PPP as such? The multiplier itself? https://data.worldbank.org/indicator/PA.NUS.PPPC.RF?most_rec...

Generally low prices indicate that the country is poor overall.

> its one of the big factors which governs quality of life,

PPP adjusted GDP per capita? Really? That's certainly not the best indicator of those things (even if there is strong correlation overall).

Do you think a median person in Ireland is 30% better off than the average Swiss or 2x better off than the average German?

Anyway, going back to Russia. If e.g. $100 comes in into the country through energy exports and is spent making bombs and other equipment what fraction do you think trickles down to the local economy?