• superkret@feddit.orgEnglish
    9158·
    6 days ago

    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…

      • fireweed@lemmy.worldEnglish
        532·
        6 days ago

        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.

        • 1609_kilometers@lemmy.blahaj.zoneEnglish
          50·
          6 days ago

          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.

          • SkyNTP@lemmy.mlEnglish
            20·
            6 days ago

            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.

      • taiyang@lemmy.worldEnglish
        18·
        6 days ago

        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.

    • andyburke@fedia.io
      1122·
      6 days ago

      A ten year steady decline in the currency of a “world power” is no big deal. 👍

      • tburkhol@lemmy.worldEnglish
        421·
        6 days ago

        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.

      • clucose@lemmy.mlEnglish
        21·
        6 days ago

        Russia has the same economy as Italy. We take them only seriously because of their nuclear weapons.

      • marcos@lemmy.worldEnglish
        4·
        6 days ago

        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.

      • superkret@feddit.orgEnglish
        88·
        6 days ago

        According to some social media bubbles, it should have dropped to 1/10 in the past 2 years.

        • Valmond@lemmy.worldEnglish
          102·
          6 days ago

          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!

        • Micromot@feddit.orgEnglish
          171·
          6 days ago

          What? I don’t get how it disproves the graph from the other commenter or anything else

          Edit: Oh I thought they were saying the first graph depicts it as worse than it is but it was the other way around which makes much more sense

          • bjorney@lemmy.caEnglish
            23·
            6 days ago

            The other commenter cropped their image right before the last massive drop in 2015

            • socsa@piefed.socialEnglish
              42·
              6 days ago

              Maybe if you don’t understand basic math? Those charts are just reciprocals

              • acockworkorange@mander.xyzEnglish
                11·
                5 days ago

                Understanding and visualizing are different things. Perhaps spend some skill points in reading comprehension.

    • CheeseNoodle@lemmy.worldEnglish
      8·
      5 days ago

      Its true its not that dramatic on its own but this is after implementing a ton of measures to prop it up and cranking up the interest rate. The Ruble is struggling just to stand still and Putin is running out of ways to prop it up.

      • Hubi@feddit.orgEnglish
        91·
        6 days ago

        An interest rate of 21% is also not an indication of things going great.

    • NoiseColor @lemmy.worldEnglish
      7·
      6 days ago

      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.

    • FabledAepitaph@lemmy.worldEnglish
      3·
      5 days ago

      I think I saw that they pumped interest up to like 21% at this point to control inflation. Could you imagine? It’s like 7% here in the US and it has made me -very- content with my current vehicle and house…

    • lemmydividebyzero@reddthat.comEnglish
      5·
      6 days ago

      Their economy was never good. Many more people living there than in Germany, much larger country than Germany… And still economically worse than Germany…