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 @ISIDEWITHNewseconomyMilitary SpendingDaily DiscussionRussiagovernmentworldInflationinterest rates•••1mo ago

Putin’s Latest Problem Is Runaway Inflation

Last year, the Russian central bank more than doubled interest rates to tame prices. Inflation, though, kept rising, hitting over 9% this month, with a vast range of goods and services becoming costlier from potatoes (up 91% so far this year) to economy-class flights (up 35%).

The central bank lifted its benchmark rate another two percentage points on Friday to 18%, making it one of the few central banks in the world to raise rates this year.

Inflation has become a hard-to-shake feature of Russia’s war economy. Even as price rises have moderated across much of the developed world, Russia’s struggles with price stability are getting worse.

A surge in military spending by the government and a record labor shortage as working-age men go to the front or flee have fueled wages and pushed up prices. Fresh rounds of U.S. sanctions, meanwhile, have complicated international payments, further driving up costs for importers.

8 Replies

 @VotingLilyLibertarian from Alabama commented…1mo1MO

US sanctions against Russia and China are designed to prevent the new BRICS anti-dollar financial system for nations to trade without USD. The US empire would be finished because more money printing would results in hyper-inflation and financial collapse.

 @AloofLionGreenfrom Missouri agreed…1mo1MO

What’s the bet those sanctions eventually go the same way as US wars… they backfire and turn into a disaster 😂

 @SenateCaviarDemocrat from Kansas commented…1mo1MO

Scary times. I've seen reports on hyperinflation. I don't think many people have any idea how bad it's going to get.

 @ISIDEWITHasked…1mo1MO

How do you think runaway inflation in one country can affect people in other countries?

 @ISIDEWITHasked…1mo1MO

Should other countries intervene when a nation's policies lead to severe economic issues for its citizens?

 @ISIDEWITHasked…1mo1MO

Is it fair for the average citizen to bear the brunt of decisions made by their leaders in times of conflict?

 @ISIDEWITHasked…1mo1MO

Can a government's actions in other countries justify the economic hardships its own people might face?

 @ISIDEWITHasked…1mo1MO

How would you feel if everyday items you rely on suddenly became twice as expensive?

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Kamala Harris says she will not ban fracking

Democratic presidential candidate Kamala Harris told CNN on Thursday that she would not ban fracking if elected president.BASH: I want to get some clarity on where you stand on some key policy issues. Energy is a big one. In — when you were in Congress, you supported the Green New Deal. And in 2019 you said, quote, “There is no question I’m in favor of banning fracking.” Fracking, as you know, is a pretty big issue, particularly in your must-win state of Pennsylvania.HARRIS: Sure.BASH: Do you still want to ban fracking?HARRIS: No, and I made that clear on the debate stage in 2020, that I would not ban fracking. As vice president, I did not ban fracking. As president, I will not ban fracking.BASH: In 2019, I believe in a town hall you said — you were asked, “Would you commit to implementing a federal ban on fracking on your first day in office?” and you said, “There’s no question I’m in favor of banning fracking. So yes.” So it changed in — in that campaign?BASH: What made you change that position at the time?HARRIS: Well, let’s be clear. My values have not changed. I believe it is very important that we take seriously what we must do to guard against what is a clear crisis in terms of the climate. And to do that, we can do what we have accomplished thus far.: In 2020 I made very clear where I stand. We are in 2024, and I have not changed that position, nor will I going forward. I kept my word, and I will keep my word.

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