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Russia’s GDP growth accelerates in 2Q as recovery takes hold; sanctions! sanctions!
Topic Started: Aug 11 2017, 01:42 PM (725 Views)
Siberian
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Russia’s economy grew by 2.5 per cent year-on-year in the second quarter, the government said on Friday, the fastest pace in almost five years as the recovery after a two-year-long recession is taking hold.

https://www.google.ru/amp/s/amp.ft.com/content/434a2a7d-9e53-36cb-a99f-3347f6db1980
Goood morning GULAG!!!
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70-101
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Director @ Center for Advanced Memetic Warfare
Siberian
Aug 11 2017, 01:42 PM
Russia’s economy grew by 2.5 per cent year-on-year in the second quarter, the government said on Friday, the fastest pace in almost five years as the recovery after a two-year-long recession is taking hold.

https://www.google.ru/amp/s/amp.ft.com/content/434a2a7d-9e53-36cb-a99f-3347f6db1980
Trump's policies are producing jobs everywhere....

except Venezuela....atta has that covered..... :rotflmao:
Only liberals can choose not to go down the road to widespread, systematic violence.
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Siberian
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70-101
Aug 11 2017, 02:01 PM
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yes, it's absolutely a miracle - the scale of transformation Russia has gone through and survived.

Now nothing can stop us.
Goood morning GULAG!!!
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Director @ Center for Advanced Memetic Warfare
Siberian
Aug 11 2017, 03:23 PM
70-101
Aug 11 2017, 02:01 PM
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yes, it's absolutely a miracle - the scale of transformation Russia has gone through and survived.

Now nothing can stop us.
I was traveling eastern Europe before the wall came down and this is what the stores looked like. Remember a particular store in Prague that had one pair of shoes in their shoe department.

A year later the stores were full, half the cars were not Trabants and the young people were excited and motivated.

The old people were dazed and confused because no one was no longer telling them what to do.

Good times....
Only liberals can choose not to go down the road to widespread, systematic violence.
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70-101
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Additional sanctions again Moscow will likely wipe out any positive third quarter growth numbers, but Putin will still remain popular.


:oyvey
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Robert Stout
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Russia is not a pissant island in the Caribbean....Russia has an autonomous economy fully capable of resisting the intended effects of outside sanctions........ :oyvey
Jesus can raise the dead, but he can't fix stupid
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Drudge X
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HAHAHA!!! Recovery??

1 USD =59.8764RUB
1 EUR =70.7877RUB
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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jake58

...the government said on Friday

bwahahahahahahaha.... Russia sucks
That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens
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Siberian
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Drudge X
Aug 11 2017, 09:43 PM
HAHAHA!!! Recovery??

1 USD =59.8764RUB
1 EUR =70.7877RUB
lol, Drudge, you should better not expose your ignorance :)
Absolute figures don't matter, for example Japanese yen is $1= 109,15 Yen.

What really matters is purchasing power.
And after all troubles we had for the last 100 years I se trenebdous progress in every sphere, in 20 years we'll be amobg the World leaders in everything.
And while we see that social health ib the US detriorates, alcoholism and drugs addiction grow fast - in Russia everything is IMPROVING VERY FAST, even despite recently finished recession. Let alone any sanctions most people never notice them at all.
You're falling dowb, we're climbing up. And believe me you're still far away of the bottom you're definitely going to reach. When Dollar debt pyramid finally collapses, and it's absolutely inevitable - our 90s will look like a paradise for you.
The only mosaic pattern of settlement of varioys ethnic groups alobe is much more a deadly factor, let alone many others. What we had in Chechnya where gangs were taking control.on everything - your citues will be a battlezone, your country will become an unpassable battlezone.
sorry, I always get enthusiastic by your perspectives, it's not the topic..
Goood morning GULAG!!!
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Siberian
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Robert Stout
Aug 11 2017, 09:35 PM
Russia is not a pissant island in the Caribbean....Russia has an autonomous economy fully capable of resisting the intended effects of outside sanctions........ :oyvey
USSR had an autonomous economy. But still even USSR imported any stuff. Russia now doesn't and if really a complete blocade is imposed we'll be hit hard, though we'll still be capable to maintain our economy more or less.
But the same can be said of the West, it just cannot afford complete blocade of Russia. For example both Airbus and Boeing has 2/3-3/4 of Titanium imported from Russia, then 3/4 of gas Europe consumes is Russian etc. The World is too interconnected and inter-dependent now. And any move to more regionalisation or more autonomy undermines American globalisation project, beside direct losses of Western exporters and importers. I.e. sanctions hurt both.
Just maybe virtual vulnerability of Russia is 7 out of 10 while one of the West is 4-5...
Western econony will crumble if trade with Russia stops.
It will be 10 times a Black Swan required to start the final Global economic collapse...

Jake, no bone today, I know you're happy to demonstrate the results of training you get, but be ready to hear my command first.
Goood morning GULAG!!!
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Siberian
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70-101
Aug 11 2017, 08:13 PM
Additional sanctions again Moscow will likely wipe out any positive third quarter growth numbers, but Putin will still remain popular.


:oyvey
no, there will not be any effect soon or at all, new sanctions aim at long term projects of gas and oil supply to Europe. Our gas is almost twice cheaper than American LNG and by these sanctions the US tries to force the EU to shift from cheap Russuan gas to expensive American one.
It will hardly happen since Europe will loose quite a part of its competitiveness, in longer term just US technologies we use (have to admit it) will be replaced by ours. Plus it will make US-EU relations more tense. I don't expect Europe to rebel against their American masters on specifically this issue but I think it will contribute much to US-EU trade war if or when it is to happen.
We're successfully eliminating dependancy on Ukrainian (Soviet built) helicopter and naval engines, now it seems emphasis will shift to own development of horizintal driling etc. It will just give a boost to certain Russian industries.
As I said, Western sanctions have very limited short time negative effect, generally we mostly benefit from them in medium and long term :)
Edited by Siberian, Aug 12 2017, 02:12 AM.
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70-101
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The effects of Western sanctions are largely determined by the price of oil, virtually Russia's entire economy depends on generous and stable oil revenues. Without extensive oil and NG reserves, needed to finance its corrupt central government, Russian would sink into third world status very quickly.

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Siberian
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70-101
Aug 12 2017, 06:43 AM
The effects of Western sanctions are largely determined by the price of oil, virtually Russia's entire economy depends on generous and stable oil revenues. Without extensive oil and NG reserves, needed to finance its corrupt central government, Russian would sink into third world status very quickly.

you overestimate oil and gas importance. Energy share in GDP is not that significant, in state budget it's more important but also not that much. Besides now we have a very flexible capitalist economy which responds fast to any devaluation of rouble (one of the buggest results of drop of oil prolices) with expansion of national production. As you might notice a couple of years ago oil prices dropped threefold (plus own domestic economic crisis , plus sanctions) and all we had is a couple of years of minor recession.
Generally - get updated, your view on Russia is of 20 years old Anerican propaganda.
Goood morning GULAG!!!
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Robert Stout
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Siberian
Aug 12 2017, 06:55 AM
70-101
Aug 12 2017, 06:43 AM
The effects of Western sanctions are largely determined by the price of oil, virtually Russia's entire economy depends on generous and stable oil revenues. Without extensive oil and NG reserves, needed to finance its corrupt central government, Russian would sink into third world status very quickly.

you overestimate oil and gas importance. Energy share in GDP is not that significant, in state budget it's more important but also not that much. Besides now we have a very flexible capitalist economy which responds fast to any devaluation of rouble (one of the buggest results of drop of oil prolices) with expansion of national production. As you might notice a couple of years ago oil prices dropped threefold (plus own domestic economic crisis , plus sanctions) and all we had is a couple of years of minor recession.
Generally - get updated, your view on Russia is of 20 years old Anerican propaganda.
Without Russian natural gas and coal, the lights go out in Finland and much of northern Europe....That is why there are no sanctions on Russian energy........... :booboo:
Jesus can raise the dead, but he can't fix stupid
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jake58

Siberian
Aug 12 2017, 06:55 AM
70-101
Aug 12 2017, 06:43 AM
The effects of Western sanctions are largely determined by the price of oil, virtually Russia's entire economy depends on generous and stable oil revenues. Without extensive oil and NG reserves, needed to finance its corrupt central government, Russian would sink into third world status very quickly.

you overestimate oil and gas importance. Energy share in GDP is not that significant, in state budget it's more important but also not that much. Besides now we have a very flexible capitalist economy which responds fast to any devaluation of rouble (one of the buggest results of drop of oil prolices) with expansion of national production. As you might notice a couple of years ago oil prices dropped threefold (plus own domestic economic crisis , plus sanctions) and all we had is a couple of years of minor recession.
Generally - get updated, your view on Russia is of 20 years old Anerican propaganda.
not that significant? It's half of your exports...

1.Mineral fuels including oil: US$134.7 billion (47.2% of total exports)
2.Iron, steel: $14.1 billion (4.9%)
3.Gems, precious metals: $8.9 billion (3.1%)
4.Machinery including computers: $6.8 billion (2.4%)
5.Fertilizers: $6.6 billion (2.3%)
6.Wood: $6.5 billion (2.3%)
7.Aluminum: $6 billion (2.1%)
8.Cereals: $5.6 billion (2%)
9.Electrical machinery, equipment: $4 billion (1.4%)
10.Copper: $3.3 billion (1.2%)

and I think we all get the main theme of your daily rants - the US is weak and doomed to fail yet we are expansionist, interventionist and aggressive... this pro Kremlin disinformation leads to a sense of false superiority in your below average Russian as he struggles to make his daily bread...

Back in 2012, when Putin appeared onstage with the Nobel laureate economist Paul Krugman at a Moscow bank conference, Russia’s 1998 economic crisis seemed a distant memory. With oil prices well over $100 a barrel, the government’s coffers were bursting. So Putin could proudly contrast Russia’s government budget surplus with the large recession-driven deficits across the west. He surely delighted in having Russian audiences hear Krugman’s view that western democracies had come up badly short in handling the global financial crisis.

In a different session, Russian academic economist Sergei Guriev (who later had to flee the country) argued there was no hope for diversification of Russia’s resource-based economy as long as institutions such as courts were so weak. Too many key decisions rested with one man. Speaking in the same session, I emphasized that without fundamental reforms, a sharp drop in global energy prices would create profound problems.

Inevitably, that drop came, with prices plummeting from $119 in February 2012 (for Brent crude oil in Europe) to $27 in 2016. Even the current level (under $50 in early July 2017), is less than half the 2011-2012 peak. For a country that depends on oil and natural gas for the lion’s share of export revenue, the price collapse has been a massive blow rippling through the economy.

But the burden of adjustment has largely fallen on consumers, owing to a roughly 50% drop in the ruble’s value relative to the dollar; real wages and consumption both fell sharply. As one Russian put it to me, he used to take 1,000 rubles to the supermarket and come home with two bags; now he comes home with one.

The shock to the real economy has been severe, with Russia suffering a decline in output in 2015 and 2016 comparable to what the United States experienced during its 2008-2009 financial crisis, with the contraction in GDP totalling about 4%. Many firms went bankrupt, and in 2016 the International Monetary Fund estimated that almost 10% of all bank loans were non-performing (a figure that surely understates the severity of the situation).


https://www.theguardian.com/business/2017/jul/05/there-is-little-reason-to-be-cheerful-about-russias-growth-prospects

Oh dear...

Russia sucks

That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens
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Siberian
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Jake, as I said, learn not only to read but understand what you have read.
As I said the share of oil and gas in Russian GDP is not that significant, blue is share in GDP, red - share in state budget revenues. Though in Russian chart it's oil and gas, in the sratistics on the US definition may be wider.
https://resize.yandex.net/afb198a486d5edc6f51b1bd68a97c20f?key=e664052f6f83452b642dda02d7213229&url=http%3A%2F%2Fic.pics.livejournal.com%2Fzemfort1983%2F32334102%2F594181%2F594181_original.jpg&width=320&height=480&typemap=gif%3Agif%3Bpng%3Apng%3B*%3Ajpeg%3B&crop=no&enlarge=0&goldenratio=yes

In the US this share is 5,9% now, not that big a difference.

https://www.statista.com/statistics/217556/percentage-of-gdp-from-energy-in-selected-countries/

Though share in the US state budget revenues may be much smaller, in the US the main sourse is taxes, and if you want me to concentrate on describing to you the nature and the size of the bubble both in expenditures and income of both US companies and households - I'll do it. But generally just understand the idea that you're still alive only thanks to achievements of your grandfathers (US dollar monopoly) and to printing press now.
But returning to our oil and gas.

But the main thing - yes, in the export share of oil and gas is big, but this money is mostly stolen by oligarkhs who buy then castles and yachts in the West, or these revenues are transferred into US Trasury bills :) which we hold now about $100 bln or something..
And people don't believe me when I say that Putin is a US puppet or an agent... :)
Anyway, let me describe the situation to you to make you undertstand, now read carefully.
Big economies create spheres of influence which then turn into their "globalisation projects" - which led to World wars before, then to the Cold war, but after USSR crumbled under weight of ineffective socialist economy - there was the only one globalisation project left - the one of the US. Which is carefully managed, all rivals are destroyed or subdued, all politically important allies (like Japan or Western Germany after WWII or S.Korea and even Chinalater) are cherished. Or were cherished, now this project is falling apart too.
After collapse of the USSR its and other social markets were conquered and robbed by the West, Russian economy was devastated by Yeltsyn's "reforms" made with careful aid of US and IMF advisers. WTO was and is a tool to destroy any protection of Russian producers while the West keeps "anti-doping" and other restrictiins on Russian export.

The main thing - by 2013 Russia was developing within a narrow niche of supplier of natural resourses to the West, this was the role left to us in the World market. While domestically our economy was and is still quite self-sufficient, but foreign markets were closed to us with administrative restrictions and also overvalued Rouble which resulted in too big a flow of petrodollars.
This was the way to complete degradation of economy, to perpetuation of its specialization on resourses. We also lost our domestic market almost completely. This was the bottom, only death could be worse.
But then suddenly, just imagine - the West made this bastard Putin to close first food sector to the West - the boom there followed, then he finally paid some attention to developnent of own industry - is started developing instead of surviving. Now our perspectives get better and beter with every new sanctions since the US and the West withdraws from new and new sectors of Russian economy.
The main idea - before 2013 the US and the West were benefitting on maximum possible scale from existing state of things. We were providing raw materials and buying mostly US Treasuries, i.e. were crediting you, and the rest was spent on import of US goods. Now you chopped off the branch you were sitting on, and go on doing it. :)
Edited by Siberian, Aug 13 2017, 02:34 AM.
Goood morning GULAG!!!
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Siberian
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the article you posted is a usual manipulation, when I have time later maybe I'll describe how and where :)

Jake, you have not a slightest chance to avoid humiliation, because you don't understand what is going on. And the fact that we're going up and you - down. Description of both will be pleasant to me :)
I was warning you about training :)
And you seem not to understand yet what is required from you :)

Goood morning GULAG!!!
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Drudge X
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Siberian
Aug 12 2017, 01:43 AM
Drudge X
Aug 11 2017, 09:43 PM
HAHAHA!!! Recovery??

1 USD =59.8764RUB
1 EUR =70.7877RUB
lol, Drudge, you should better not expose your ignorance :)
Absolute figures don't matter, for example Japanese yen is $1= 109,15 Yen.

What really matters is purchasing power.
And after all troubles we had for the last 100 years I se trenebdous progress in every sphere, in 20 years we'll be amobg the World leaders in everything.
And while we see that social health ib the US detriorates, alcoholism and drugs addiction grow fast - in Russia everything is IMPROVING VERY FAST, even despite recently finished recession. Let alone any sanctions most people never notice them at all.
You're falling dowb, we're climbing up. And believe me you're still far away of the bottom you're definitely going to reach. When Dollar debt pyramid finally collapses, and it's absolutely inevitable - our 90s will look like a paradise for you.
The only mosaic pattern of settlement of varioys ethnic groups alobe is much more a deadly factor, let alone many others. What we had in Chechnya where gangs were taking control.on everything - your citues will be a battlezone, your country will become an unpassable battlezone.
sorry, I always get enthusiastic by your perspectives, it's not the topic..
Purchasing power? :lol: Yeah, if Russians want to continue to buy Chinese and Russian made junk by all means. Even poor Americans have purchasing power to buy Chinese made junk. Russians can't even take a trip abroad because of their worthless rubles. Anyway, last I heard, Zimbabweans also have purchasing power.
Kate Steinle was separated from her family permanently but leftists didn't seem to mind.
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Siberian
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Drudge, you are too ignorant even for Americans, better don't discredit your country sayong something on economy.
Goood morning GULAG!!!
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