this post was submitted on 17 Nov 2022
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[–] yogthos@lemmy.ml 9 points 2 years ago (1 children)

Seems pretty mild compared to what we're seeing in the west.

[–] vekku@sopuli.xyz 9 points 2 years ago* (last edited 2 years ago) (2 children)

The definition of recession is two consecutive quarters of decline in GDP. So that is Q2 and Q3 here, which means that Russia started on that path almost immediately after launching their unilateral war against Ukraine. Europe is projected to get there in Q4, so one quarter later.

Recession is to be expected in a situation like this but unfortunately this will not break Putin's regime alone. Sustained support of Ukraine will be needed for a long time. Good thing is that Europe and West can easily do that, and as we proceed to isolate Russia completely, the economic hit will start to diminish.

Like every economic downturn, this will also hit those in the weaker positions the worst. That's obviously also on Putin's list of sins.

[–] agarorn@feddit.de 8 points 2 years ago (1 children)

Since Europes economy grew in Q3 we can not fall into recession the next quarter. At least if you stick to the "two consecutive quarters of decline" definition: https://www.reuters.com/markets/europe/euro-zone-q3-gdp-confirmed-02-qq-employment-up-well-2022-11-15/

[–] vekku@sopuli.xyz 7 points 2 years ago* (last edited 2 years ago)

Since Europes economy grew in Q3

Oh, cool. For some reason that's news to me. Been reading too much tankie bullshit, perhaps. Propaganda works!

[–] yogthos@lemmy.ml 3 points 2 years ago

Recession is to be expected in a situation like this but unfortunately this will not break Putin’s regime alone. Sustained support of Ukraine will be needed for a long time.

I guess you missed the part that the recession in US and Europe is at least as bad as in Russia, with Europe now having mass protests and strikes happening in many countries. You have to be utterly deluded to think that the west will be able to keep funnelling billions into Ukraine while domestic economies continue to crumble.

It's also worth remembering that Russia has already gone through far worse economic disasters in the 90s and 2014 without collapsing. On the other hand, the west has never seen a comparable decline in standards of living.

Good thing is that Europe and West can easily do that, and as we proceed to isolate Russia completely, the economic hit will start to diminish.

What the west actually manage is to isolate itself. All major non-western countries are continuing to work and trade with Russia, including China and India which are two major rising powers. All the attempts by the west to isolate Russia geopolitically have failed miserably.

[–] USAGT@lemmy.ml 8 points 2 years ago

The fact is that Russia’s unfavorable war in Ukraine has exhausted its influence in international politics, and it is difficult to play a role in regional hegemony. The conflict between Georgia and Azerbaijan has further proved it .

[–] tomasz@lemmy.ml 3 points 2 years ago (2 children)

The fascist and terrorist state must collapse. Like the German Reich or ISIS.

[–] pingveno@lemmy.ml 4 points 2 years ago* (last edited 2 years ago) (1 children)

Eh... I'm not wild about the idea of another Russia-centered collapse. I do hope that it transitions to a government that serves its people rather than a kleptocracy that enriches its leaders and feeds egos. But collapses are just as likely to wind up with another disaster, and I don't wish that on the Russian people.

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[–] Stoned_Ape@lemmy.ml 3 points 2 years ago

Which state are you referring to? One of the eastern states? Or one of the western states? They're both awful in a lot of ways. The question is: Should any of these fascist states win? Or should the human being win and get rid of fake democracies led by people high on the anti-social disorder scale?

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