Russia might deafult on it's debt

[joluoto]

War in Ukraine: Fitch Ratings warns Russian bond default 'imminent'​

Last time that happened was 1917, and then it was also a war that broke the economy, and let's just say that lead to interesting things happening.

 

[Peter]

This has really not gone well for Russia.
They seem to have destroyed their own economy.

 

[Integrityrespec]

War in Ukraine: Fitch Ratings warns Russian bond default 'imminent'​

Last time that happened was 1917, and then it was also a war that broke the economy, and let's just say that lead to interesting things happening.

And that means what exactly. Do you think Putin cares? It's pretty obvious he doesn't care about what the world thinks. I doubt he cares if they default of not.

 

[Peter]

And that means what exactly. Do you think Putin cares? It's pretty obvious he doesn't care about what the world thinks. I doubt he cares if they default of not.

Erm, Russia still needs to generate money on the world markets and if it defaults it's going to be massively harder to do so.
Not caring is not an option.

 

[joluoto]

And that means what exactly. Do you think Putin cares? It's pretty obvious he doesn't care about what the world thinks. I doubt he cares if they default of not.

The Czars probably thought the same thing.

If Russia defaults, it means the rouble will hit rock bottom, and Russia will be downgraded, meaning unable to borrow money. That means Russia gets a serious cash problem. This also means Russia won't be able to import, and Russia and Russian businesses do need to import things they either don't have or don't have enough of domestically. The reason is with the cash problems they can't afford the prices. Exporting will also be harder, with Russian money reserves down, and currency worthless, other countries and foreign businesses will press them to sell for joke prices. All this will mean Russian businesses can't stand afloat, and the government have no money to bail them out. And that will means massive unemployment.

 

[EMNofSeattle]

The Czars probably thought the same thing.

Unlike Tsar Nicholas though, a Saint who feared judgment, Putin will have no problem insuring revolutionaries are properly dealt with.

 

[RabidAlpaca]

And that means what exactly. Do you think Putin cares? It's pretty obvious he doesn't care about what the world thinks. I doubt he cares if they default of not.

Does the leader of Russia care about his country's economy imploding and his sources of revenue and financing drying up? I think he does. The real question is why you feel the need to imply we shouldn't be treating Russia this way.

 

[Gateman_Wen]

War in Ukraine: Fitch Ratings warns Russian bond default 'imminent'​

Last time that happened was 1917, and then it was also a war that broke the economy, and let's just say that lead to interesting things happening.

Couldn't happen to a better country.

 

[tacomancer]

They could have avoided this by not going to war for no reason.

 

[Peter]

Does the leader of Russia care about his country's economy imploding and his sources of revenue and financing drying up? I think he does. The real question is why you feel the need to imply we shouldn't be treating Russia this way.

It would be like claiming a US President wouldn't care if the US defaulted and the cost of borrowing money instantly tripled.
He or She could try I suppose but I highly doubt they'd be popular when all sectors of public funds such as defense, firefighting and police have to make unprecedented cuts in funding and lay off potentially hundreds of thousands of people instantly.

That's not going to end well no matter how much of a cult following he has.

 

[Grand Mal]

Unlike Tsar Nicholas though, a Saint who feared judgment, Putin will have no problem insuring revolutionaries are properly dealt with.

A saint? What was the miracle?

 

[Grand Mal]

Couldn't happen to a better country.

I wonder though how much of this is Putin being inflicted on the Russian people too? I mean, there's a myriad of political ideologies in Russia but there has to be a sizable portion who had enough of him long time ago and would just like to be relieved of him.

 

[EMNofSeattle]

A saint? What was the miracle?

Royal Passionbearers Tsar Nicholas (Nikolai), Tsaritsa Alexandra, Tsarevich Aleksy, Grand Duchesses Olga, Tatiana, Maria, Anastasia

Saint Nicholas, the last Russian Tsar, was born in 1868. As a child, he was very religious, guileless and free from malice. Nicholas II was crowned as Tsar in 1894, following the death of his father Tsar Alexander. He began his reign with lofty hopes for peace, urging other nations to reduce the…

www.oca.org

 

[Grand Mal]

Royal Passionbearers Tsar Nicholas (Nikolai), Tsaritsa Alexandra, Tsarevich Aleksy, Grand Duchesses Olga, Tatiana, Maria, Anastasia

Saint Nicholas, the last Russian Tsar, was born in 1868. As a child, he was very religious, guileless and free from malice. Nicholas II was crowned as Tsar in 1894, following the death of his father Tsar Alexander. He began his reign with lofty hopes for peace, urging other nations to reduce the…

www.oca.org

View attachment 67379052

Again, what was his miracle? Eastern Orthodox churches will canonized you for passing on desert during Lent. The Catholic Church is a tad more rigorous in It's vetting process.

 

[lwf]

And that means what exactly. Do you think Putin cares? It's pretty obvious he doesn't care about what the world thinks. I doubt he cares if they default of not.

The Russian people will when they see the consequences.

 

[EMNofSeattle]

Again, what was his miracle? Eastern Orthodox churches will canonized you for passing on desert during Lent. The Catholic Church is a tad more rigorous in It's vetting process.

Performing of miracles is not necessary to be canonized. In either tradition.

Performing of a miracle can indicate Saint Hood, and is typically considered to be strong evidence in favor of the argument, but the actual minimum requirement to be declared a saint is evidence you died in a state of grace.

In any event though, I’m fairly certain that you do not believe in Catholic doctrine in any meaningful way so I don’t understand why you want to compare standards for canonization.

 

[Integrityrespec]

Erm, Russia still needs to generate money on the world markets and if it defaults it's going to be massively harder to do so.
Not caring is not an option.

They are going to get support from their few friends, like China, I don't think they are overly concerned at the moment. Besides how long is Joe going to ban Putin's oil?

 

[Rogue Valley]

They are going to get support from their few friends, like China, I don't think they are overly concerned at the moment. Besides how long is Joe going to ban Putin's oil?

Post-pandemic, China is not in a strong enough economic position to bail out Moscow.

 

[joluoto]

They are going to get support from their few friends, like China, I don't think they are overly concerned at the moment. Besides how long is Joe going to ban Putin's oil?

China is doing absolutely nothing, basically just waiting and seeing. They won't lift a finger for Russia. And there is basically no infrastructure to transfer Russian gas or oil to China.