The Russian economy is on the brink of collapse, with industrial output falling and major companies initiating large-scale layoffs amid the economic fallout from the war on Ukraine

The Russian economy is on the brink of collapse, with industrial output falling and major companies initiating large-scale layoffs amid the economic fallout from the war on Ukraine

Archived version: https://archive.is/newest/https://www.irishstar.com/news/us-news/russian-economy-freefall-mortgage-costs-34869686

Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.

  • humanspiral@lemmy.ca
    0·
    10 months ago

    manufacturing index dropping from 53.1 points to 50.2 within a month

    That is source for headline. Above 50 is still expansion. It’s below 50 in US.

    21% interest rates

    Ruble is best performing currency over the year. Few Russians have mortgages, and housing affordability is good. Interest rates are high because of full employment created by highly paid military, and interest rate was set up to defend ruble.

    behind closed door talks of layoffs in military industrial complex

    Peace is expected to reduce the soaring military production that has since the war made Russia vastly outperform US colonies. Passing Japan and Germany in PPP (most important measure) GDP to 4th in world.

    If you want Russia to stop growing so fast, give it peace. But it is dead wrong/false propaganda, that continuing to threaten its existence will cause it to be less determined and productive in fighting your evil.

    • Skua@kbin.earth
      0·
      10 months ago

      If being at war is so good for the Russian economy, why would Russia accept peace? Or, if it did, why would it not just start another war?

      • humanspiral@lemmy.ca
        0·
        10 months ago

        Russia has always preferred peace, with very reasonable red lines to avoid the war, and a peace deal reached 1 month after war started.

        The morale and conviction of Russian people and army would not be as high as it is now defending itself from NATO evil, if it were to provoke a conflict with NATO. While economy is productive and outperforming US colonies, its not without problems, nor has a leadership/people that wouldn’t prefer peace.