That sanctions against Russia would result in the de-industrialization of Europe probably didn’t occur to those who promoted that strategy, but this war is resulting in a whole lot of unintended consequences these days.
ArcelorMittal will shut one of its two blast furnaces at its steelworks site in Bremen, Germany, from the end of September until further notice, due to the “exorbitant rise in energy prices,” the company said in a statement on Friday.
Maybe Germans will finally wake up, but they seem to have a national predilection towards viewing themselves as victims, anytime they find themselves in a crisis purely of their own making.
Margaret Thatcher was prophetic when she warned about a reunified Germany after the wall fell. Unfortunately, Bush was itching to get a new world order underway. Another Bush accomplishment!
They have chosen a far left GREEN coalition as their current rulers.
Let the Krauts (and their million or more Muslims) FREEZE. (With respect, Hans Rupprecht!)
Green on the outside, red on the inside.
Maybe this impending winter of deprivation and doom will finally get Europe to stop looking to the autistic Swedish teen for sage advice regarding energy policy. Not holding my breath.
In essence NATO already lost its idiotic war against Russia. And for what? Who gives a frack about Ukraine apart from retarded Polacks? Somewhere beyond the grave, Nikita Khrushchev is toasting Vlad with Satan’s premier reserve vodka. Because Russia finally won WW3 thirty years after the USSR collapsed. And it’s an own goal.
Millions will die due to climate change policy. Zero people have or will die from actual change in climate
No lives lost to climate change? Denier! That’s the number on issue facing Canadians right now, that’s why we as a nation are so upset. Thankfully the millions of new arrivals we’re housing in the ever expanding urban sprawl don’t think like you…..
You are being facetious, aren’t you? If not, please take the red pill.
” . . . this war is resulting in a whole lot of unintended consequences . . .”
Where did you get the idea that they are unintended? Just because you don’t like ’em doesn’t mean that somebody didn’t want ’em.
Thank you for pointing that out….. you do realize that not everything is going exactly according to their plan and that the end result is still very much up in the air, don’t you? The laws of unintended consequences are very much in play.
Yes, but a considerable amount of demolition is inherent in the concept of Build Back Better. “They” think they have set the charges for a controlled implosion, but there are faults and other sources of charge that are in their unknown unknowns.
Remove Fossil Fuels and the Great Green Energy and Economy is EXPOSED as a total lie and fraud. The EU and the UK is collapsing faster than the old USSR without Fossil Fuels.
This winter the citizens of the EU and the UK will be out with clubs, pitchforks and torches hunting greasy politicians that sold the GREEN LIE.
I hope so.
Putin should supply the people of the freezing EU dossiers of all of their politicians – pictures, addresses, family members, etc. It’s war. You might as well treat it as such.
That’d make things interesting…..more interesting.
“…Who gives a frack about Ukraine apart from retarded Polacks? Somewhere…”
Baltics.
Finland.
Sweden.
UK
US
Canada.
Australia
Japan
and even Kazakhstan.
Cry more
No I think you will find that it is the Globalist Political class that cares about the Ukraine. The average citizen could care less. The Ukraine is a oney Laundering Operation let by Gangsters
The EU has the 3rd largest economy on the planet, and 500M plus citizens but Canada who is broke, has 36M citizens and a military the size of the NYPD should be involved?
We have 36,000 miles of undefended coastlines, should not that be our number one priority rather than useless NATO and the EU.
Let’s not pretend that it’s the war or Putin that is the problem.
That is avoiding the responsibility for decades of poor energy policy.
Giving a thug the keys to your house is never going to end well.
News that Boris Johnson threw a wrench into the peace talks, which btw was all but a done deal tells me this phoney war is a big shit sandwich served up by European leaders who wanted a manufactured crisis for their own people. If there’s a Hell…they’ll surely be in it.
I didn’t think it was possible to care less about Ukraine…but yup, it happened.
You think it’s a big deal? Good… sign up all you armchair warriors.
Sanctions are destroying Russia now. You’ve no idea.
Ya, believe the alphabet propaganda networks, they know everything. After all, journalism majors are Mensa members.
Now, I’ve got an ice bridge for sale in Northern Alberta, slightly used, but a very liquid asset!
No. I believe what My fiancé is hearing from ex Shell and BP guys and gals who worked there.
You can’t fly anywhere. You can’t get critical parts and if you could you can get them where you need them. Rail lines throughout Russia are being blown up constantly. There are no IT people anymore. They’ve all left. Same for engineers.
Everything is now being run in manual and they are wrecking stuff.
Software is being hacked everywhere.
The place is a gong show. And it’s getting worse fast.
Yeah, sure they are. If that was the case you wouldn’t need bullshit stories like this.
https://www.dailymail.co.uk/news/article-11181503/Ukrainian-pensioner-shoots-74million-Russian-Su-34-jet-RIFLE-awarded-medal.html
Silly me – always getting confused over what’s a shotgun and what’s a rifle.
burton, Yeah, I caught the shotgun on that picture as well…..perhaps it was a well aimed slug eh! LOL
Both can be true at one time.
These sanctions are hurting Russia badly. Most importantly, it’s making it difficult for it to manufacture high-technology armaments. The repurcussions to the sanctions are also hurting western Europe, as these morons made themselves dependent on Russian energy, the very thing some orange-haired guy warned against.
Yep, that’s pretty much it. What Germans wanted was a trade empire based on cheap energy from Pootinistan. They have accepted environmentalism as national religion and used it as a blunt instrument to sabotage any competition within EU. They controlled EU finances and in concert with France written policies that assured their supremacy. That world is no more after the battle of Kiev. They are rendering themselves irrelevant and Ukraine is dependent on US, UK and Poland and not at all on them. So the events that are changing their corner of the world are passing them by. The longer they refuse to accept reality the worse it will be for them.
It is important to understand that Germany isn’t really a democratic country. German political system assures that control remains within a narrow elite group (more so probably than in any larger western country). That was done by design, on purpose, when Germany was reformed after WWII. Americans never wanted Germany to be fully democratic again … out of fear that they may elect another Hitler. The environmentalism became a dogma relentlessly peddled by the elites. The masses believed in it, and in the semi totalitarian country, where there is no meaningful political opposition, none dared offering alternatives. Thus, like in all such countries the elites are now stuck and are unable to make a 180 on that without admitting they were wrong.
Also none rally wanted alternatives. They had a convenient buffer zone to the east. And the buffer zone had no say in it. So they kept pushing US out (again in concert with France) and ignoring what the buffer zone wanted. Brexit was a shot across their bow. They should have understood right then that a lot could change rather dramatically. Eventually Pootin miscalculated, the house of cads has fallen and the rest is history.
Russia, car production down 96%
New car sales down 80%
Inflation up 17%
Truck production -39.3%
Locomotives -63.%
Freight wagons down51.8 %
Fridges down 58.1%
Washing machines down 59.2%
AC electric motors down 49.9%
TV sets down 49.7%
Elevators production down 34.7% Excavators down 60%
Cigarette production down 24.5%
Used car prices up 100%
Pensions (inflation adjusted) -8.2%
Salaries -7.2 %
https://www.msn.com/en-us/money/markets/russias-economy-is-collapsing-data-reveals/ar-AAZ2ioU
Not all Western equipment and technologies have analogues in China, meaning more projects could be indefinitely canceled.
“I have said more than once that China will not be able to replace all the equipment that we imported [from the West],” Natalia Zubarevich, a professor at Moscow State University, told RFE/RL.
“This is impossible, not because China will be afraid of secondary sanctions, but because, in principle, it cannot produce everything. It simply does not have the competencies for everything high-tech
Russian automaker Avtotor announced a lottery for free 10-acre plots of land — and the chance to **** buy**** seed potatoes — so employees could grow their own food
The chief executive of the country’s top bank Sberbank (SBER.MM) said on Friday, economic curbs have cut the country off from half of its trade.’ G. Gref, CEO and Chairman of the Executive Board of Sberbank, Saint Petersburg, Russia June 17, 2022
Anton Siluanov, Minister of Finance said 17 percent oil output drop this year.
Russia’s GDP is expected -12% in 2022, sharply exceeding expectations of 8% decline.
Steepest contraction since 1994.
Daria Melnik, a senior analyst at Rystad Energy, said new Moscow customers “will take time and massive infrastructure investments that in the medium term will see Russia’s production and ****revenues drop precipitously.”
Central Bank said inflation between 18 and 23 percent this year.
Fall in total economic output 10 percent.
https://www.nytimes.com/2022/05/19/business/economy/russia-economy.html
Excellent post, here is more ammunition:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4167193
Looks a lot like the US economy, except their inflation is lower than ours.
Quoting state sponsored and approved media like the Slimes and PMSNBC? You can do better.
Why not a CBC quote as well?
Dan, for people who actually know something about financial stability measures and interventions, this is particularly interesting reading:
https://www.cbr.ru/eng/press/event/?id=14133
It is interesting to see a central bank model such as Russia’s which is INDEPENDENT of government policy. By contrast, the Bank of Canada, and the FRB of the US, are now tools of the current political agenda. How do you know? Look at how the US Fed goes about managing their IRRBB vs how the RCB does it. It is clear the Russian CB is 100% reactive, and is not being given a headsup on a lot of this stuff that keeps hitting it.
The Bank of Canada asks Mr Trudeau what key rate is best for his electoral chances next election. Aka “QE”.
For people who aren’t trained and have industry experience in this stuff, you get to STFU about ANY country’s FinStab measures, and let the grownups talk. If you are trained, contrast the US Fed’s little repo accident a few years back, with the RCB’s handling of inflation using interest rates. If Canada or the US tried this, think what would have happened.
“…a central bank model such as Russia’s which is INDEPENDENT of government policy…”
ROFLMAO! You have outdone yourself Konni.
The Ruble floats virginal, untouched, unsullied.
Alright, please show us all, through the FS measures outlined and quantified, and specific capital measures and risk factor management, how Putin’s commands flow into RCB management of structural IRR.
The floor is yours.
If you knew anything about actual banking, you’d know that the last several years of Russian Central Bank activity has been 100% reactive to the curveballs that the Duma and Putin keep throwing at it.
But given that you are probably a part time dollar store cashier, not an analytics professional, I won’t hold my breath.
The commies running things are shutting down the free economies of the entire western world with the hope of finally creating the societal collapse they have been predicting since Marx, and people are acting like this result didn’t “occur” to them.
They. Are. Doing. It. On. Purpose.
The Nude Green Eel.
Followed by the New Green Holodomor.
No steel, no wind turbines.
Friends in low places:
Russia is buying millions of rockets and artillery shells from North Korea to support its invasion of Ukraine, according to a newly declassified US intelligence finding.
A US official, who spoke on condition of anonymity, said on Monday that the fact Russia’s defence ministry had turned to Pyongyang demonstrated that “the Russian military continues to suffer from severe supply shortages in Ukraine, due in part to export controls and sanctions”.
https://www.theguardian.com/world/2022/sep/06/russia-buying-millions-rockets-shells-north-korea-us-intelligence-ukraine