It's an old idea. Back in 1998, Russia reindustrialized using 'import substitution.' Russia is past that point economically. The bad exchange rate, as I argued before, is like valuing the Nazi economy based off the trading value of Reichmark in NYC. The bad exchange rate is simply another way of expressing an embargo, through non-judicial means. This is my whole thesis: that it makes no sense to value the Russian economy in Dollars. We should instead understand what a Ruble is worth.
I have more data and analysis on the topic, but I wanted to publish this analysis, because it was 'news you can use.'
Not sure I understand it all - however all other charts set gdp at $1.5 trillion and yet this cannot be correct because how could Russia sustain military it has?
John Helmer, in Russia, Why a Rouble worth one cent is a Russian Warfighting Weapon:
https://johnhelmer.net/why-a-rouble-worth-one-us-cent-is-a-russian-warfighting-weapon/
It's an old idea. Back in 1998, Russia reindustrialized using 'import substitution.' Russia is past that point economically. The bad exchange rate, as I argued before, is like valuing the Nazi economy based off the trading value of Reichmark in NYC. The bad exchange rate is simply another way of expressing an embargo, through non-judicial means. This is my whole thesis: that it makes no sense to value the Russian economy in Dollars. We should instead understand what a Ruble is worth.
I have more data and analysis on the topic, but I wanted to publish this analysis, because it was 'news you can use.'
Not disputing, just contributing. I'm interested in what Russia is doing with finance these days and going forward.
Not sure I understand it all - however all other charts set gdp at $1.5 trillion and yet this cannot be correct because how could Russia sustain military it has?
That's because the other charts are just making it up.
Here are the correct figures and calculations so you can follow along:
https://aaronlee.substack.com/p/one-trillion-dollars-in-2023-how https://aaronlee.substack.com/p/one-trillion-dollars-in-2023-how-9d4 https://aaronlee.substack.com/p/one-trillion-dollars-in-2023-how-74e