Macron Warns EU Could Face Collapse Without Urgent Reforms

[BritManToo]

  On 10/8/2024 at 10:36 AM, Cameroni said:

The Prime Minister of Finland:

 

The leader of 5.5million people, she was raised in challenging circumstances by her mother, who had split with Mrs Marin's alcoholic father Lauri at a young age.

Her mother's next partner was a woman, meaning Mrs Marin grew up in an all-female environment - or a 'rainbow household', as she herself later put it."

 

These are the people in charge of Europe.

 

https://www.dailymail.co.uk/news/article-11123023/Finlands-glamorous-PM-Marin-Sanna-36-seen-dancing-wildly-celebrity-friends-leaked-video.html

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Don't think the pm of Finland is really a world leader.

Mayor of NY is probably more important to the world than her.

EU is a united Europe under German rule.

[candide]

  On 10/8/2024 at 9:05 AM, Cameroni said:

 

Yes, like in the West, inflation is high in Russia, but Russians have never been purchasing more luxury goods. The Russian economy is booming.

 

If we had a leader like Putin in charge of the EU, we'd be doing a lot better.

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Sure. Russia scores much better than the EU on how height the inflation is!

Current inflation rate in Russia is 9.1% vs 2.2% in the EU. A clear win for Putin! 🤣

 

https://tradingeconomics.com/russia/inflation-cpi

https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-30082024-ap

[candide]

  On 10/8/2024 at 9:13 AM, JonnyF said:

 

At least Putin has the interests of Russia at heart.

 

Unlike many of the traitors currently selling out the EU (and especially the UK). Can you imagine Putin just giving away territory like Lammy just did? I'd say we are being led by donkeys but at least donkeys look after their own. Unlike our very own Mastermind, David. 

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So no one is selling out the EU as UK is not part of it any more! 😅

[candide]

  On 10/8/2024 at 10:20 AM, Cameroni said:

 

Russia to grow faster than all advanced economies says IMF

An influential global body has forecast Russia's economy will grow faster than all of the world's advanced economies, including the US, this year.

The International Monetary Fund (IMF) expects Russia to grow 3.2% this year, significantly more than the UK, France and Germany.

 

https://www.bbc.com/news/business-68823399

 

It's false to say that Russia's current stellar economic performance is due to it being a war economy, Russia is primarily a civil economy, only a small part is dedicated to the war.

 

Russia is defeating Ukraine in eco modus so to speak.

 

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Lame deflection.

Russia is GDP is growing since 2022, I never claimed the opposite. However,  your claim that it is not fuelled by military expenses is ridiculous and contradicted by many sources (including the Russian finance minister)!

 

Fact is that, under normal conditions (no extensive war), it's GDP has stagnated during 10 YEARS. An epic fail for Putin! 😃

[xtrnuno41]

The EU is never formed for their citizens.

Only thing would be trading, however UK bailed. And I can imagine that as many things are out of order and controlled by EU, which is only negative for citizens.

[riclag]

I would give up a months earnings to see it ,viva Le Pen.

[Cameroni]

  On 10/8/2024 at 10:43 AM, BritManToo said:

Don't think the pm of Finland is really a world leader.

Mayor of NY is probably more important to the world than her.

EU is a united Europe under German rule.

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She's not a world leader as such, that's true. One step up from leader of Barbados, but still, she's in charge in Finland, an EU member.

 

in fact Sweden, Denmark, Finland, Norway, Iceland, Estonia all have female leaders of various dubious credentials.

 

Individually  they don't amount to much, but in a herd they can wield voting influence in the EU.

 

One thing they all have in common is Greta Thunberg syndrome. Mette Fredriksen of Denmark:

 

"As a teenager, she campaigned to preserve rain forests, protect whales, and end apartheid"

 

https://en.wikipedia.org/wiki/Mette_Frederiksen

 

Fredriksen has achieved nothing in her life prior to the PM position, she went straight into politics from uni. She is an activist at heart.

 

Exactly this activist core is reflected in today's EU, the EU in fact has become a global activist, like when it tries to the save the Ethiopian rainforest or Sumatran jungle.

 

The EUj is permeated by people who know little, accomplished less and achieve nothing.

 

Ursula von der Leyen is another case in point, a failure in German politics, she was close friends with Merkel, and the old gal's network gifted her the top EU position. 

 

 

[RayC]

  On 10/8/2024 at 10:20 AM, Cameroni said:

 

Russia to grow faster than all advanced economies says IMF

An influential global body has forecast Russia's economy will grow faster than all of the world's advanced economies, including the US, this year.

The International Monetary Fund (IMF) expects Russia to grow 3.2% this year, significantly more than the UK, France and Germany.

 

https://www.bbc.com/news/business-68823399

 

It's false to say that Russia's current stellar economic performance is due to it being a war economy, Russia is primarily a civil economy, only a small part is dedicated to the war.

 

Russia is defeating Ukraine in eco modus so to speak.

 

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We've been down this road before 

 

https://www.businessinsider.com/russia-economy-ukraine-war-moscow-military-spending-inflation-worker-shortage-2024-2

[Cameroni]

  On 10/8/2024 at 10:59 AM, candide said:

However,  your claim that it is not fuelled by military expenses is ridiculous and contradicted by many sources (including the Russian finance minister)!

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You're wrong, alas.

 

"Russians’ confidence in their own financial situation, according to official data, recently jumped to an all-time high. They are more inclined to make big purchases, such as a car or a sofa, and restaurants are bursting. Last year Russians imported 18% more cognac than they did in 2019, according to our estimate, while spending 80% more on imports of sparkling wine. Sberbank, the country’s largest financial institution, notes that in June overall consumer spending rose by 20% year on year in nominal terms."

 

"Russia’s splurge goes beyond war-related spending. Mr Putin is lavishing money on welfare payments: in June he raised pensions for some recipients by close to 10%. The government is also spending big on infrastructure, including a highway from Kazan to Yekaterinburg, two cities 450 miles (730km) apart. Indeed, it is spending on pretty much whatever takes its fancy. Mikhail Mishustin, Russia’s prime minister, recently boasted about a government scheme to pay for children to holiday in Crimea."

 

https://www.economist.com/finance-and-economics/2024/08/11/vladimir-putin-spends-big-and-sends-russias-economy-soaring

 

Spending on war is relatively low, Russia is overwhelmingly a consumer economy.

[RayC]

  On 10/8/2024 at 10:36 AM, Cameroni said:

The Prime Minister of Finland:

 

The leader of 5.5million people, she was raised in challenging circumstances by her mother, who had split with Mrs Marin's alcoholic father Lauri at a young age.

Her mother's next partner was a woman, meaning Mrs Marin grew up in an all-female environment - or a 'rainbow household', as she herself later put it."

 

These are the people in charge of Europe.

 

https://www.dailymail.co.uk/news/article-11123023/Finlands-glamorous-PM-Marin-Sanna-36-seen-dancing-wildly-celebrity-friends-leaked-video.html

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Marin is no longer PM in Finland. She hasn't been since June 2023.

[candide]

  On 10/8/2024 at 11:40 AM, Cameroni said:

 

You're wrong, alas.

 

"Russians’ confidence in their own financial situation, according to official data, recently jumped to an all-time high. They are more inclined to make big purchases, such as a car or a sofa, and restaurants are bursting. Last year Russians imported 18% more cognac than they did in 2019, according to our estimate, while spending 80% more on imports of sparkling wine. Sberbank, the country’s largest financial institution, notes that in June overall consumer spending rose by 20% year on year in nominal terms."

 

"Russia’s splurge goes beyond war-related spending. Mr Putin is lavishing money on welfare payments: in June he raised pensions for some recipients by close to 10%. The government is also spending big on infrastructure, including a highway from Kazan to Yekaterinburg, two cities 450 miles (730km) apart. Indeed, it is spending on pretty much whatever takes its fancy. Mikhail Mishustin, Russia’s prime minister, recently boasted about a government scheme to pay for children to holiday in Crimea."

 

https://www.economist.com/finance-and-economics/2024/08/11/vladimir-putin-spends-big-and-sends-russias-economy-soaring

 

Spending on war is relatively low, Russia is overwhelmingly a consumer economy.

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Article under paywall, so I cannot read the parts of the article you did not mention.

BTW, I am not claiming the whole economy is military. My claim is that the growth (the extra 3% GDP), is mainly fuelled by military expenses.

 

Oh, and there was no growth between 2012 and 2021, under 'normal' conditions (no extensive war)

[Cameroni]

  On 10/8/2024 at 11:48 AM, candide said:

Article under paywall, so I cannot read the parts of the article you did not mention.

BTW, I am not claiming the whole economy is military. My claim is that the growth (the extra 3% GDP), is mainly fuelled by military expenses.

 

Oh, and there was no growth between 2012 and 2021, under 'normal' conditions (no extensive war)

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It's not, it's about 30% military spending 70% non-military spending.

 

There was none because of severe austerity in preparation for war.

[candide]

  On 10/8/2024 at 12:19 PM, Cameroni said:

 

It's not, it's about 30% military spending 70% non-military spending.

 

There was none because of severe austerity in preparation for war.

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70/30 of what?

Sources?

[Cameroni]

It's in the Economist article

[candide]

  On 10/8/2024 at 12:37 PM, Cameroni said:

It's in the Economist article

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Quite convenient, as it is under paywall. 70/30 of what?

[Cameroni]

  On 10/8/2024 at 12:39 PM, candide said:

Quite convenient, as it is under paywall. 70/30 of what?

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Don't worry I have something for free for you.

 

The latest figures show the latest budget has Russia spending 32% of its budget on defence spending. The rest is non-military. So 30/70.

 

https://www.aljazeera.com/news/2024/9/30/russia-to-hike-defence-spending-by-a-quarter-in-2025

[candide]

  On 10/8/2024 at 12:45 PM, Cameroni said:

 

Don't worry I have something for free for you.

 

The latest figures show the latest budget has Russia spending 32% of its budget on defence spending. The rest is non-military. So 30/70.

 

https://www.aljazeera.com/news/2024/9/30/russia-to-hike-defence-spending-by-a-quarter-in-2025

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So spending 32% of its budget on military expenses is not fuelling GDP growth (to compare with 13% for the U.S.)! 5555 😁

 

BTW, I found an archived version of the article. It states:

"Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets."

https://archive.ph/xRTC6

[Cameroni]

  On 10/8/2024 at 12:59 PM, candide said:

So spending 32% of its budget on military expenses is not fuelling GDP growth (to compare with 13% for the U.S.)! 5555 😁

 

BTW, I found an archived version of the article. It states:

"Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets."

https://archive.ph/xRTC6

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Mostly non military expenditure, as I was saying, Russia is a civilian economy, not a war economy where 100% of spending is on the miltary. That's just not the case.

 

There has been a rise very recently, because Russia is preparing to finish off Ukraine next year.

[candide]

  On 10/8/2024 at 1:11 PM, Cameroni said:

 

Mostly non military expenditure, as I was saying, Russia is a civilian economy, not a war economy where 100% of spending is on the miltary. That's just not the case.

 

There has been a rise very recently, because Russia is preparing to finish off Ukraine next year.

Expand  

Please stop distorting what I wrote. I never claimed Russia spent 100% of its budget on military. I claimed that It's the increased military budget which is fuelling growth, as is claimed in the article you linked. The civil sector is stagnant and doesn't creates GDP growth.

 

Confirmed by the following data on Russia"s military budget. It increased from $61b in 2020 to $86b in 2022, and that's not fuelling GDP growth? 😁

https://www.macrotrends.net/global-metrics/countries/rus/russia/military-spending-defense-budget#google_vignette

 

[Cameroni]

  On 10/8/2024 at 1:21 PM, candide said:

I claimed that It's the increased military budget which is fuelling growth

Expand  

 

Which is 100% wrong. Read the Economist article, it explains why Russia's economy is booming. It's not military spending.

 

"To understand the accelerating economy, look to two aspects of macroeconomic policy. The first is fiscal policy. Mr Putin has abandoned austerity as he doubles down on war. He is sensitive to domestic opinion and recognises that he needs to buy public support for his invasion of Ukraine. This year Russia will run a budget deficit of 2% of GDP—hefty by its standards—which it is funding in large part by drawing on enormous financial reserves, accumulated during the 2010s. In effect, Russia saved yesterday in order to party today. Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets.

Patriots or mercenaries?

In July Mr Putin doubled the federal bonus for those signing up to fight from 195,000 roubles ($2,200) to 400,000 roubles, which regional authorities are supposed to top up. The government is committing vast sums to compensation for the families of those killed in action. And Russia’s splurge goes beyond war-related spending. Mr Putin is lavishing money on welfare payments: in June he raised pensions for some recipients by close to 10%. The government is also spending big on infrastructure, including a highway from Kazan to Yekaterinburg, two cities 450 miles (730km) apart. Indeed, it is spending on pretty much whatever takes its fancy. Mikhail Mishustin, Russia’s prime minister, recently boasted about a government scheme to pay for children to holiday in Crimea.

The second reason for Russia’s party economy relates to its unusual monetary policy. In order to deal with high inflation the central bank has raised interest rates from 7.5% to 18%. More increases may be on their way. This has the effect of strengthening the rouble by attracting foreign investment from “friendly” countries such as China and India, which in turn cuts the price of imports and thus inflation. It also encourages people to save, trimming consumer spending. In a normal economy higher rates would hurt indebted households and companies, as their cost of repaying debt rose. Yet the government has almost entirely shielded the real economy from tighter monetary policy.

There is a bewildering array of schemes. Earlier this year the government made it much easier for consumers to suspend repayments on loans, so long as they could prove that their income had fallen or they were “affected by an emergency”. Banks have offered loan holidays to soldiers in Ukraine. A mortgage scheme, recently closed, kept lending rates fixed at 8%, less than half the current policy rate. An “industrial mortgage” programme has channelled lending to companies at rates as low as 3% a year. Banks’ arms are also twisted so that they do not raise rates too far. When the financial sector loses income as a consequence, the state often steps in to make up the difference."

 

https://www.economist.com/finance-and-economics/2024/08/11/vladimir-putin-spends-big-and-sends-russias-economy-soaring

 

As much as you would like it to me a simple monocausal reason "military spending", it's not, it's a number of non-military factors.

[candide]

  On 10/8/2024 at 1:23 PM, Cameroni said:

 

Which is 100% wrong. Read the Economist article, it explains why Russia's economy is booming. It's not military spending.

 

"To understand the accelerating economy, look to two aspects of macroeconomic policy. The first is fiscal policy. Mr Putin has abandoned austerity as he doubles down on war. He is sensitive to domestic opinion and recognises that he needs to buy public support for his invasion of Ukraine. This year Russia will run a budget deficit of 2% of GDP—hefty by its standards—which it is funding in large part by drawing on enormous financial reserves, accumulated during the 2010s. In effect, Russia saved yesterday in order to party today. Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets.

Patriots or mercenaries?

In July Mr Putin doubled the federal bonus for those signing up to fight from 195,000 roubles ($2,200) to 400,000 roubles, which regional authorities are supposed to top up. The government is committing vast sums to compensation for the families of those killed in action. And Russia’s splurge goes beyond war-related spending. Mr Putin is lavishing money on welfare payments: in June he raised pensions for some recipients by close to 10%. The government is also spending big on infrastructure, including a highway from Kazan to Yekaterinburg, two cities 450 miles (730km) apart. Indeed, it is spending on pretty much whatever takes its fancy. Mikhail Mishustin, Russia’s prime minister, recently boasted about a government scheme to pay for children to holiday in Crimea.

The second reason for Russia’s party economy relates to its unusual monetary policy. In order to deal with high inflation the central bank has raised interest rates from 7.5% to 18%. More increases may be on their way. This has the effect of strengthening the rouble by attracting foreign investment from “friendly” countries such as China and India, which in turn cuts the price of imports and thus inflation. It also encourages people to save, trimming consumer spending. In a normal economy higher rates would hurt indebted households and companies, as their cost of repaying debt rose. Yet the government has almost entirely shielded the real economy from tighter monetary policy.

There is a bewildering array of schemes. Earlier this year the government made it much easier for consumers to suspend repayments on loans, so long as they could prove that their income had fallen or they were “affected by an emergency”. Banks have offered loan holidays to soldiers in Ukraine. A mortgage scheme, recently closed, kept lending rates fixed at 8%, less than half the current policy rate. An “industrial mortgage” programme has channelled lending to companies at rates as low as 3% a year. Banks’ arms are also twisted so that they do not raise rates too far. When the financial sector loses income as a consequence, the state often steps in to make up the difference."

 

https://www.economist.com/finance-and-economics/2024/08/11/vladimir-putin-spends-big-and-sends-russias-economy-soaring

 

As much as you would like it to me a simple monocausal reason "military spending", it's not, it's a number of non-military factors.

Expand  

Yet it's the military budget which has increased mot in recent years, so it's the main reason, as confirmed by your article:

"Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets."

https://archive.ph/xRTC6

 

Confirmed by the data about military budget increase I posted.

 

[Cameroni]

  On 10/8/2024 at 1:50 PM, candide said:

Yet it's the military budget which has increased mot in recent years, so it's the main reason, as confirmed by your article:

"Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets."

https://archive.ph/xRTC6

 

Confirmed by the data about military budget increase I posted.

 

Expand  

 

No, it's not the main reason. There are a whole raft of more important reason. It's a contributing factor of small magnitude.

 

Your quote does not prove your claim in the slightest.

 

Re-read the above exercept from the Economist and you will easily understand the real reason for the stellar economic performance in Russia. Putin saved in years of austerity and then spent big, also on infrastructure.

[RayC]

  On 10/8/2024 at 1:52 PM, Cameroni said:

 

No, it's not the main reason. There are a whole raft of more important reason. It's a contributing factor of small magnitude.

 

Your quote does not prove your claim in the slightest.

 

Re-read the above exercept from the Economist and you will easily understand the real reason for the stellar economic performance in Russia. Putin saved in years of austerity and then spent big, also on infrastructure.

Expand  

 

Hardly " .. a contributing factor of small magnitude".

 

"Russia’s public spending is at unprecedented levels, and around 40% of the government budget is spent on the war. Total military spending is expected to reach more than 10% of GDP for the year 2023 (the UK figure is 2.3%)." (Source: https://theconversation.com/russias-economy-is-now-completely-driven-by-the-war-in-ukraine-it-cannot-afford-to-lose-but-nor-can-it-afford-to-win-221333)

[RayC]

  On 10/8/2024 at 1:23 PM, Cameroni said:

 

Which is 100% wrong. Read the Economist article, it explains why Russia's economy is booming. It's not military spending.

 

"To understand the accelerating economy, look to two aspects of macroeconomic policy. The first is fiscal policy. Mr Putin has abandoned austerity as he doubles down on war. He is sensitive to domestic opinion and recognises that he needs to buy public support for his invasion of Ukraine. This year Russia will run a budget deficit of 2% of GDP—hefty by its standards—which it is funding in large part by drawing on enormous financial reserves, accumulated during the 2010s. In effect, Russia saved yesterday in order to party today. Total government outlays rose by an average of 15% in both 2022 and 2023, and a slightly smaller rise is budgeted this year. Ministers are devoting much of this extra spending to the war in Ukraine. Data published by the Bank of Finland suggest that military spending will rise by about 60% this year, boosting production of weapons and ammunition, and also putting money in people’s pockets.

Patriots or mercenaries?

In July Mr Putin doubled the federal bonus for those signing up to fight from 195,000 roubles ($2,200) to 400,000 roubles, which regional authorities are supposed to top up. The government is committing vast sums to compensation for the families of those killed in action. And Russia’s splurge goes beyond war-related spending. Mr Putin is lavishing money on welfare payments: in June he raised pensions for some recipients by close to 10%. The government is also spending big on infrastructure, including a highway from Kazan to Yekaterinburg, two cities 450 miles (730km) apart. Indeed, it is spending on pretty much whatever takes its fancy. Mikhail Mishustin, Russia’s prime minister, recently boasted about a government scheme to pay for children to holiday in Crimea.

The second reason for Russia’s party economy relates to its unusual monetary policy. In order to deal with high inflation the central bank has raised interest rates from 7.5% to 18%. More increases may be on their way. This has the effect of strengthening the rouble by attracting foreign investment from “friendly” countries such as China and India, which in turn cuts the price of imports and thus inflation. It also encourages people to save, trimming consumer spending. In a normal economy higher rates would hurt indebted households and companies, as their cost of repaying debt rose. Yet the government has almost entirely shielded the real economy from tighter monetary policy.

There is a bewildering array of schemes. Earlier this year the government made it much easier for consumers to suspend repayments on loans, so long as they could prove that their income had fallen or they were “affected by an emergency”. Banks have offered loan holidays to soldiers in Ukraine. A mortgage scheme, recently closed, kept lending rates fixed at 8%, less than half the current policy rate. An “industrial mortgage” programme has channelled lending to companies at rates as low as 3% a year. Banks’ arms are also twisted so that they do not raise rates too far. When the financial sector loses income as a consequence, the state often steps in to make up the difference."

 

https://www.economist.com/finance-and-economics/2024/08/11/vladimir-putin-spends-big-and-sends-russias-economy-soaring

 

As much as you would like it to me a simple monocausal reason "military spending", it's not, it's a number of non-military factors.

Expand  

 

You conveniently forgot to post this extract from The Economist article: 

 

"How long can the party last? Much depends on the war. A continued slump in the rouble would raise inflation; more military recruitment would worsen labour shortages. At some point, people may get angry about the cost of living. And Mr Putin cannot run budget deficits for ever: at current rates, Russia’s reserves will be gone in five years or so. But the economy has also shown its resilience in recent years. So, for now, the party continues."

[candide]

  On 10/8/2024 at 1:52 PM, Cameroni said:

 

No, it's not the main reason. There are a whole raft of more important reason. It's a contributing factor of small magnitude.

 

Your quote does not prove your claim in the slightest.

 

Re-read the above exercept from the Economist and you will easily understand the real reason for the stellar economic performance in Russia. Putin saved in years of austerity and then spent big, also on infrastructure.

Expand  

Small magnitude? You're kidding, aren't you? 😀

[RayC]

  On 10/8/2024 at 1:52 PM, Cameroni said:

 

No, it's not the main reason. There are a whole raft of more important reason. It's a contributing factor of small magnitude.

 

Your quote does not prove your claim in the slightest.

 

Re-read the above exercept from the Economist and you will easily understand the real reason for the stellar economic performance in Russia. Putin saved in years of austerity and then spent big, also on infrastructure.

Expand  

 

The real reason for Russia's "stellar economic performance" appears to be China.

 

How long before Russia becomes Europe's Sri Lanka?

 

https://theconversation.com/russia-has-become-so-economically-isolated-that-china-could-order-the-end-of-war-in-ukraine-232951

[NativeBob]

  On 10/8/2024 at 10:41 AM, worgeordie said:

,letting members from the poorest countries

flood into the richest ,that was a very bad idea.....

Expand  

Yes, the biggest victims are GE next SP and IT/FR

 

Thanks ding-dong Farage with his NHS BS and Boris "Fluffy" Johnson pulled UK out from that mess.

[Cameroni]

  On 10/8/2024 at 2:02 PM, RayC said:

Total military spending is expected to reach more than 10% of GDP for the year 2023

Expand  

 

As of 2023, the military expenditure share of Saudi Arabia's GDP was about 7.09 percent. So would you say military spending drives the Saudi economy, that Saudia Arabia is a war economy?

 

Algeria's military spending is 8.2  percent of GDP. Is Algeria's economy drivien by military spending? Is Algeria a war economy?

 

10% of GDP is minimally above levels other nations spend in peace time. It is most definitely not the reason why Russia's economyis blooming. The reasons for this are explained in the Economist article. Since you can read it, don't forget to read those parts. I've kindly pasted them above.

[Cameroni]

  On 10/8/2024 at 2:07 PM, RayC said:

 

The real reason for Russia's "stellar economic performance" appears to be China.

 

How long before Russia becomes Europe's Sri Lanka?

 

https://theconversation.com/russia-has-become-so-economically-isolated-that-china-could-order-the-end-of-war-in-ukraine-232951

Expand  

 

Well, this is disappointing on so many levels. I thought you had read the Economist article, but there are none so blind as those who refuse to see. The facts are there. if you want to rather believe bull<deleted> articles written by beautician with no knowledge of reality, up to you. China now owns Russia, lol, people write some nonsense on here.

[Middle Aged Grouch]

Macron should rather focus on his own country France that is on the bench to be under EU guardianship due to the French debt that is an alarming 3'300 billion...yes 3'300 that is about 99% of their own GDP. Talk about a country being bankrupt and you got it.

 

But he is right is saying that the EU is doomed. With the trillions given to Ukraine, with their total submission to America and NATO and their absurd woke policy on migrants and refugees who are living a better life in Europe at government expense, then the locals....not surprising why the far right is unfortunately progressing all over Europe.