I know we all want to believe Russia’s economy is way worse than ever and almost back in the stone age by now, but if you look at the long term, unfortunately it’s not that dramatic…
Their economy was never good. Many more people living there than in Germany, much larger country than Germany… And still economically worse than Germany…
You are both correct. A decade is a perfectly acceptable time frame by which to judge forex, however the two decade window fills in additional context.
One narrative is about effectiveness of sanctions, specifically the ones levied at the start of 2022. Zooming out beyond 2015 doesn’t really change that narrative (no appreciable effect tied with a change that happened in 2022).
The other narrative relates to Russia’s big picture strategy. Undoubtedly by this measure, Russia is underperforming. We might conclude that the sanctions was effective only once, in 2014. Or just a bad economy for another reason that spurred war.
I know we all want to believe Russia’s economy is way worse than ever and almost back in the stone age by now, but if you look at the long term, unfortunately it’s not that dramatic…
Perfect crop, comrade 🤡
“comrade”?
Are you implying that Russia is in any way more communist or less capitalist than the US?
Cause you’d be wrong.
Their economy was never good. Many more people living there than in Germany, much larger country than Germany… And still economically worse than Germany…
Your graph lacks any context. What is the Y axis?
It literally says in the title of the chart it’s rubles per dollar graphed over time
https://feddit.org/pictrs/image/bb4d4926-8385-44fd-b587-d5798b8e00e0.png
Where?
Perfect crop, comrade 🤡
Yeah but this clearly isn’t as a consequence of the war
Crimea was invaded in 2014.
Please tell us what happened in 2014…
So… basically when Crimea got stolen? I forget if that was also US sanctions, my selections memory remembers we were too soft on them back then.
You are both correct. A decade is a perfectly acceptable time frame by which to judge forex, however the two decade window fills in additional context.
The issue is the crop has obliterated the starting value
True, but the way I see it, a graph shouldn’t be cropped and left without a labeled y axis, especially when making a point about long term-ness.
One narrative is about effectiveness of sanctions, specifically the ones levied at the start of 2022. Zooming out beyond 2015 doesn’t really change that narrative (no appreciable effect tied with a change that happened in 2022).
The other narrative relates to Russia’s big picture strategy. Undoubtedly by this measure, Russia is underperforming. We might conclude that the sanctions was effective only once, in 2014. Or just a bad economy for another reason that spurred war.
This guy graphs
☝️
It’s pretty dramatic. Interest rates, currency in freefall, no exports, imports too expensive, morgages failing, salaries dropping, brain drain, …
It’s pretty bad. They have some ways to go, the war chest is not empty, they can continue to print money they can hold of for another two years maybe.
We will see what trump does. But they are in a world of hurt no matter what happens next.
I mean, it being as low as it once was doesn’t mean it is going great.
An interest rate of 21% is also not an indication of things going great.
A ten year steady decline in the currency of a “world power” is no big deal. 👍
Actually, it’s not. But it’s not a world power either.
And a large decline in a single day, smaller than that steady decline in a decade can be quite a big deal. Or can be nothing. Nobody knows.
Russia has the same economy as Italy. We take them only seriously because of their nuclear weapons.
As an Italian… Not sure if proud or embarrassed…
You’ve got way better food though. How many Russian restaurants do you see around the world?
Sorry….😢
Yeah, the message I get is that a 10% one-day decline doesn’t look like much on the tail end of 70% losses. Worthless paper is worthless.
According to some social media bubbles, it should have dropped to 1/10 in the past 2 years.
Ah, the kremlin talking points “look your measures doesn’t work!!1! (So can you remove them, ok?)”
Nobody thought the ruble would crash one or two years ago.
But well, now is now and it looks like the funds have been used up, the inflation is at its maximum utility etc etc and now it’s crash time!
No fair you’re not allowed to provide context
What? I don’t get how it disproves the graph from the other commenter or anything else
By inverting the transaction it more clearly shows the trend between the two currencies.
Maybe if you don’t understand basic math? Those charts are just reciprocals
The other commenter cropped their image right before the last massive drop in 2015
That is literally illegal on the internet.