Russian President Vladimir Putin today cautioned his officials to make sure their efforts to cool down an economy driven to overheating by military spending don’t overshoot and drive the country into recession.
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Yeah. Good luck with that, Vlad. It's like if he commanded the public at the start of the COVID epidemic: "Do Not Get Sick. Fever is Hereby Prohibited by Law and Punishable by Imprisonment."
This is his way of letting everyone know Russia for sure is in recession but is trying to sell it to the "people". Who will be the next head to roll off a balcony in Russia - coming soon in RT today. Same old book, same old story.Trump uses the same moves, less successfully, for now.
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"Tune" the economic data numbers so it does not look like a recession, or some of you may fall off a balcony.
Are they winding down military spending that's causing the overheating?
No.
The war effort continues at an unsustainable intensity.
No.
They've already reached the politically acceptable limit.
The key interest rate in Russia is approximately 20% which is enough to hurt any business that isn't related to the military-industrial complex.
An ordinary Russian isn't middle class but poor. They've never had too much money for discretionary spending.
This is Putin shifting blame away from him and onto "the boyars".
Good czar, bad officials.