There are at least two spicy details that the article fails to mention that make this picture even more interesting:
a) the Russian society was extraordinarily laden with debt, especially of the consumer variety, before the war even began and it has become considerably more indebted since. The interest rates are absolutely murdering them to the point where it’s about to murder the banks.
b) the price of Urals crude was in large part driven by China buying more than it consumes to increase reserves. Their storage capacity is as of this moment almost completely full so the drop in demand for Russian oil will be even sharper than what the economic downturn in China dictates.
In other words, Russians are getting pancaked between the hammer and anvil of inflation and interest rates with no rise in oil revenue to come to the rescue and the worst is yet to come.
I av erd this 1 before, I av
Why don’t readers complain more about the endless cycle of same-same headlines in Anglo/western newspapers?* When it is done, tell me about it. News not prognostication
*it is because they are mostly stupid & don’t notice
why are you posting news with paywall without posting the news itself?? REPORTED
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https://archive.ph/l10z8#selection-894.0-894.1
unlocked article
There are at least two spicy details that the article fails to mention that make this picture even more interesting:
a) the Russian society was extraordinarily laden with debt, especially of the consumer variety, before the war even began and it has become considerably more indebted since. The interest rates are absolutely murdering them to the point where it’s about to murder the banks.
b) the price of Urals crude was in large part driven by China buying more than it consumes to increase reserves. Their storage capacity is as of this moment almost completely full so the drop in demand for Russian oil will be even sharper than what the economic downturn in China dictates.
In other words, Russians are getting pancaked between the hammer and anvil of inflation and interest rates with no rise in oil revenue to come to the rescue and the worst is yet to come.
I av erd this 1 before, I av
Why don’t readers complain more about the endless cycle of same-same headlines in Anglo/western newspapers?* When it is done, tell me about it. News not prognostication
*it is because they are mostly stupid & don’t notice
why are you posting news with paywall without posting the news itself?? REPORTED
Any day now