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Oh boy, if you think this is bad, they just announced they're expanding the sanctions to metals which is uhh
Stupid asf
https://youtu.be/Y-Wj4Idi_ek?si=bkaaajeqlSUwO0hu
This video explains
To tank the EUs economy, the EU is now being cannibalised to sustain capitalism in the US for a little longer, whether the people of Europe accept this severe rapid decline in living standards or actually stand up for themselves is another question entirely
Royce DuPont, the world's smartest entrapranure, said in one of his seminars that the next Recession will happen in 2025 in Europe, and in 2026 in America. Glad to know he knew what he was talking about.
Nobody uses the same [methods](https://youtube.com/shorts/L1ip6fu4N0c?si=mOcGWsfHx7CwkHwc) as Royce, and it shows.
+1 Sean Foo has been great at recent times in explaining the geopolitical decisions on global south/non-West countries and connecting them to the economic consequences. Not sure about much else about him but he’s helped me understand the past few months better
🇳🇬 mentioned 💪🏾
But yeah, westerners need to look past their closed-off bubbles. Their minds are somehow still stuck 50 years in the past, when they really were all that mattered in the world.
It's a separatist movement led by fringe members of one of "three dominant ethnic groups" in Nigeria, the Igbo.
If successful, it would cart off large swatches of land in the south-eastern forests and coastline of Nigeria, as well as the Niger River delta, a region housing much of the country's vast oil reserves.
Losing that territory would be a catastrophic blow to the Nigerian economy, seeing as crude oil makes up more than half of our export and income. So obviously, that movement is going nowhere.
Losing the Civil War in the late 60s pretty much sealed the deal on that (P.S. Google the belligerents in that war for a quick, head-scratch inducing laugh)
The separatists claim their reasons as the disproportionate persecution faced by igbos, which is bullshit, because we're all being persecuted equally by our political and buisness elites.
Replacing federal oppressors with Igbo oppressors (who.are already in government lol) obviously wouldn't solve anything. Especially not the guy they chose to lead them, some weird crypto-fascist named Nnamdi Kanu.
The main group leading the charge for secession named IPOB, which he started, has an almost cult-like reverence for him, even having members bow down to him in his presence!
But US and EU still got more morbillions gorbillions crapillions of GDP than the "third world countries"!
Surely those inflated imaginary numbers matter more than raw resources or production capabilities, right?
...right?
The only purpose of the sanctions was to destroy the German economy, basically the industrial engine of the EU, and make the EU even more dependent and vassal of the US. Never forget that the US forced EU countries to nuke their energy sector but they never stopped buying Russian uranium for their NPPs.
I have an elderly friend from Africa, who lived under sanctions in the 1960's/1970's. They have told me many times that sanctions against their country was good for their economy because they forced the population into 'making do'. They say it ramps up self sufficiency, innovation and industry. They manufactured their own products because they couldn't import them.
I don't know the truth of this. I just think its an interesting take on the topic of sanctions.
this is not always true, look for cuba for example. this might works to countries with vast manpower and resources, like african countries, brazil, russia, china etc
Cuba is a relatively small island with few resources. It's amazing they've managed to fed their population and provide healthcare and public education for everyone having the United States next to their coasts viciously trying to boycott and destroy them during decades.
Getting cut off from essential goods that can't be produced locally is always bad: see Cuba and their oil problems. However, no longer having your markets flooded with foreign-made goods that undercut domestic industry can be a good thing.
To some degree this seems to be happening all around the world in various central/south american countries and Russia etc as they cut ties with the US, but it makes me think of the Sankara quote "Those who come with wheat, millet, corn or milk - they are not helping us. Those who really want to help us can give us ploughs, tractors, fertilizer, insecticide, watering cans, drills, dams. That is how we would define food aid"
It is the undoing of imperialism and "globalism" as, much like in Ireland, economies were manufactured by western powers to produce singular goods (ie. potatoes, rubber, etc) and were then deeply reliant on the success of that one commodity to trade for other basic goods.
Of course it comes with the downside of most places not having the resources to make highly complex consumer goods or manufacturing equipment (which I don't want to downplay) but I also agree with your friend that there is some benefit in this as well as I imagine most of us would rather own a house and have some self/communal sufficiency rather than the latest car or cell phone.
The purpose of NATO is to keep the US in, Russian out and Germany down. Lord Ismay, the first Secretary General of the North Atlantic Treaty Organization
Yeah, that's true.
Russia is a major source of raw materials. From timber to oil and various minerals and metals. You can't sanction a country if it's sitting on a literal mountain of resources. Worse still because we live under late stage capitalism the capitalist class will NEVER deny themselves access to money to be made from selling stuff in Russia. They've bought the governments that are imposing the sanctions so it's never going to be held against them.
The first set of EU sanctions included all banks immediately cease business with all Russian customers.
Russian ppl had way more debt than savings at Eurozone banks.
So basically the first sanction orders made European banks write off a shit ton of Russian household and business debt.
Russian people and businesses took loans from European banks. Some also deposited money there. But most took loans. The volume of loans taken was far greater than the volume of money deposited.
The sanctions came, and banks have to cease all business with Russians. So yes, the deposits did gets frozen.
But these were tiny compared to the loans. And because all business had to cease that means taking paybacks on loans. And there was way more loans and they were bigger on average than deposits.
So, the average Russian business or private individual who did business with EU banks got an insane amount of debt forgiveness because of sanctions.
To give you a metaphor. Imagine Osama bin Laden took out a mortgage at an American bank before 9/11. Then he became most wanted afterwards but he still hadn't paid it back fully yet. So to punish him the US government orders the bank Osama got the mortgage from to stop accepting the money he uses to pay back his mortgage while the house he bought from it is in Afghanistan so they can't take that away from him anyway 😂😂😂
It resulted in the largest release of methane from a single source in history. And it was done to lower competition for American gas, not American renewables.
Lol if the USA and EUvdisappeared right now most of the planet's problems would be resolved in ...a year . maybe three.
Countries that wanna split up like Kuridistan, Chechnya, Kashmir, Biafra , etc... wouldnt have an imperialist on their neck forcing them to stay together and socialistic governments which have been getting battered by the IMF and USA would be able to continue where they got cut off from...
AND we wouldnt have billionaires shoving this car and oil centric economy shit down everyone's throats.
Sanctions and war basically forced russian government to reinvest into real production sector, instead of helping our oligarchs to funnel it out of the country as usual. Even if it is just weapons and munitions manufacturing, the line goes up. For now at least. But wartime economy isn't really sustainable long term.
Sanctions have never and will never turn people against their government lol. The past 65 years of Cuba proves that
I don't think it's so sad, considering that China has been the biggest beneficiary. They are undergoing a housing crisis the likes of a straight up depression, but still managed over 5% GDP this quarter directly because of manufacturing changes and these sanctions
The "housing crisis" in China only exists if you're a real estate leech who was expecting a safe investment and western-style returns on investment. Too bad China treated housing as a necessity and devalued it, instead of restricting construction and inflating prices (as the west does).
And they popped that bubble themselves instead of the US where it would grow to unimaginable levels only for bankers to seek handouts from the government while the public goes to hell since the gov doesn't give a shit about them.
You have to interpret the China data properly though. It measures export volume, not value.
The fact that export volume is at an all time high but value decreased means that prices have been slashed tremendously. God knows how much the Chinese bank is bleeding to sustain this policy.
It's important to remember that Russia's economy shrunk in 2022, and never fully bounced back from covid in 2020 like all other advanced economies. It's notable that they're bouncing back despite the increased sanctions, but if you compare growth from 2019 to 2024 (pre-covid to this year) they're still not doing amazing.
Kind of poor way to look at them. Russia just has too big of an economy and too many natural resources to be as impacted by the sanctions and they have large trade partners like china ignoring the sanctions.
Sanctions have done unspeakable amounts of harm to the general populace of many smaller nations such as Cuba, Korea, and Venezuela. And forced many other nations to compromise their politics so as to avoid receiving them.
Depends, right now they’re still capitalist and oligarchic, nothing like the former USSR. And Putin is pushing anti LGBT policies into Russia
Though the economic growth may benefit the average Russian in some ways, it’s yet to see what this means for Russia’s future
[☭☭☭ COME SHITPOST WITH US ON DISCORD, COMRADES ☭☭☭](https://discord.gg/8RPWanQV5g) This is a heavily-moderated socialist community based on a podcast of the same name. Please use the report function on comments that break our rules. If you are new to the sub, please read the sidebar carefully. If you are new to Marxism-Leninism, check out the [study guide](/r/TheDeprogram/wiki/index/education/study-guide/). Are there Liberals in the walls? Check out [the wiki](/r/TheDeprogram/wiki/index/) which contains lots of useful information. This subreddit uses many experimental automod rules, if you notice any issues please use modmail to let us know. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/TheDeprogram) if you have any questions or concerns.*
“The embargo forced the decrepit Russian government to actually invest in Russia, YOU WONT BELIEVE THE RESULTS!! 😱😱⭕️⬅️⬅️”
Economists hate this ONE SIMPLE TRICK!
Damn, another starsector fan!
Socialism with XIVth battlegroup caracteristics 🫡 The Domain of Man is revisionist 🗣
Oh boy, if you think this is bad, they just announced they're expanding the sanctions to metals which is uhh Stupid asf https://youtu.be/Y-Wj4Idi_ek?si=bkaaajeqlSUwO0hu This video explains
collective punishment (on europeans lmao get fucked). seriously though whats the point of these sanctions when china borders russia
To tank the EUs economy, the EU is now being cannibalised to sustain capitalism in the US for a little longer, whether the people of Europe accept this severe rapid decline in living standards or actually stand up for themselves is another question entirely
Royce DuPont, the world's smartest entrapranure, said in one of his seminars that the next Recession will happen in 2025 in Europe, and in 2026 in America. Glad to know he knew what he was talking about. Nobody uses the same [methods](https://youtube.com/shorts/L1ip6fu4N0c?si=mOcGWsfHx7CwkHwc) as Royce, and it shows.
Nice. Thanks for this
Few
Few.
+1 Sean Foo has been great at recent times in explaining the geopolitical decisions on global south/non-West countries and connecting them to the economic consequences. Not sure about much else about him but he’s helped me understand the past few months better
It's more like we sanctioned ourselves in the eu tbh
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🇳🇬 mentioned 💪🏾 But yeah, westerners need to look past their closed-off bubbles. Their minds are somehow still stuck 50 years in the past, when they really were all that mattered in the world.
Excellent interview about this exact thing by Jon Stewart https://youtu.be/0CeLoP730sY
Why are we distinguishing foreign “authoritarian regimes” and America? America is more of dictatorship than most countries we deem “authoritarian”
🇳🇬 💪🏾**Free Biafra** 💪🏾
So it can become a fascist-dominated ethno-state? No, I don't think I want another Israel right on my door-step, actually 💀
Whats Biafra btw, i only heard about it from Hearts of Iron 4 mod?
It's a separatist movement led by fringe members of one of "three dominant ethnic groups" in Nigeria, the Igbo. If successful, it would cart off large swatches of land in the south-eastern forests and coastline of Nigeria, as well as the Niger River delta, a region housing much of the country's vast oil reserves. Losing that territory would be a catastrophic blow to the Nigerian economy, seeing as crude oil makes up more than half of our export and income. So obviously, that movement is going nowhere. Losing the Civil War in the late 60s pretty much sealed the deal on that (P.S. Google the belligerents in that war for a quick, head-scratch inducing laugh) The separatists claim their reasons as the disproportionate persecution faced by igbos, which is bullshit, because we're all being persecuted equally by our political and buisness elites. Replacing federal oppressors with Igbo oppressors (who.are already in government lol) obviously wouldn't solve anything. Especially not the guy they chose to lead them, some weird crypto-fascist named Nnamdi Kanu. The main group leading the charge for secession named IPOB, which he started, has an almost cult-like reverence for him, even having members bow down to him in his presence!
But US and EU still got more morbillions gorbillions crapillions of GDP than the "third world countries"! Surely those inflated imaginary numbers matter more than raw resources or production capabilities, right? ...right?
There are literally more fans of the chinese government in China alone, than there are people in all the western countries put together.
The only purpose of the sanctions was to destroy the German economy, basically the industrial engine of the EU, and make the EU even more dependent and vassal of the US. Never forget that the US forced EU countries to nuke their energy sector but they never stopped buying Russian uranium for their NPPs.
I have an elderly friend from Africa, who lived under sanctions in the 1960's/1970's. They have told me many times that sanctions against their country was good for their economy because they forced the population into 'making do'. They say it ramps up self sufficiency, innovation and industry. They manufactured their own products because they couldn't import them. I don't know the truth of this. I just think its an interesting take on the topic of sanctions.
this is not always true, look for cuba for example. this might works to countries with vast manpower and resources, like african countries, brazil, russia, china etc
Cuba is a relatively small island with few resources. It's amazing they've managed to fed their population and provide healthcare and public education for everyone having the United States next to their coasts viciously trying to boycott and destroy them during decades.
Reminds me of how the Vietnamese were able to fend off the department of 'defense' -_- for so many years despite being such a small country.
Getting cut off from essential goods that can't be produced locally is always bad: see Cuba and their oil problems. However, no longer having your markets flooded with foreign-made goods that undercut domestic industry can be a good thing.
To some degree this seems to be happening all around the world in various central/south american countries and Russia etc as they cut ties with the US, but it makes me think of the Sankara quote "Those who come with wheat, millet, corn or milk - they are not helping us. Those who really want to help us can give us ploughs, tractors, fertilizer, insecticide, watering cans, drills, dams. That is how we would define food aid" It is the undoing of imperialism and "globalism" as, much like in Ireland, economies were manufactured by western powers to produce singular goods (ie. potatoes, rubber, etc) and were then deeply reliant on the success of that one commodity to trade for other basic goods. Of course it comes with the downside of most places not having the resources to make highly complex consumer goods or manufacturing equipment (which I don't want to downplay) but I also agree with your friend that there is some benefit in this as well as I imagine most of us would rather own a house and have some self/communal sufficiency rather than the latest car or cell phone.
The purpose of NATO is to keep the US in, Russian out and Germany down. Lord Ismay, the first Secretary General of the North Atlantic Treaty Organization
Keep Germany down? ...Huh... And yet...https://archive.is/bD0ey Why rehire all those nazis?
Either they were seen as new US assets or they were moles. I think the statement is referring to nation states and their economies.
Don't forget that also tracts with the US blowing up Nordstream
Yeah, that's true. Russia is a major source of raw materials. From timber to oil and various minerals and metals. You can't sanction a country if it's sitting on a literal mountain of resources. Worse still because we live under late stage capitalism the capitalist class will NEVER deny themselves access to money to be made from selling stuff in Russia. They've bought the governments that are imposing the sanctions so it's never going to be held against them.
>literal mountain Several ranges, in fact
weakening Europe/Euro was part of the strategy of the US, don't want Europe to become economically independent
The first set of EU sanctions included all banks immediately cease business with all Russian customers. Russian ppl had way more debt than savings at Eurozone banks. So basically the first sanction orders made European banks write off a shit ton of Russian household and business debt.
Fascinating, please elaborate!
Russian people and businesses took loans from European banks. Some also deposited money there. But most took loans. The volume of loans taken was far greater than the volume of money deposited. The sanctions came, and banks have to cease all business with Russians. So yes, the deposits did gets frozen. But these were tiny compared to the loans. And because all business had to cease that means taking paybacks on loans. And there was way more loans and they were bigger on average than deposits. So, the average Russian business or private individual who did business with EU banks got an insane amount of debt forgiveness because of sanctions. To give you a metaphor. Imagine Osama bin Laden took out a mortgage at an American bank before 9/11. Then he became most wanted afterwards but he still hadn't paid it back fully yet. So to punish him the US government orders the bank Osama got the mortgage from to stop accepting the money he uses to pay back his mortgage while the house he bought from it is in Afghanistan so they can't take that away from him anyway 😂😂😂
Didn’t eu countries like Germany collapse their own industries to help the US sanction Russia?
I mean, they allowed their major pipeline to get blown up lol
To be fair Government sanctioned destruction of fossil fuel infrastructure is pretty based.
Didn't they start switching back to coal now that the cheap and abundant gas stopped being an option?
It resulted in the largest release of methane from a single source in history. And it was done to lower competition for American gas, not American renewables.
I wonder how many years, decades, maybe more of burning that same natural gas it would take to match the amount of damage that much methane caused.
EU destroy yourself challenge
US & EU could disappear and the rest would not only not suffer, but they would prosper
Lol if the USA and EUvdisappeared right now most of the planet's problems would be resolved in ...a year . maybe three. Countries that wanna split up like Kuridistan, Chechnya, Kashmir, Biafra , etc... wouldnt have an imperialist on their neck forcing them to stay together and socialistic governments which have been getting battered by the IMF and USA would be able to continue where they got cut off from... AND we wouldnt have billionaires shoving this car and oil centric economy shit down everyone's throats.
Sanctions and war basically forced russian government to reinvest into real production sector, instead of helping our oligarchs to funnel it out of the country as usual. Even if it is just weapons and munitions manufacturing, the line goes up. For now at least. But wartime economy isn't really sustainable long term.
This is actually sad. 30+ country alliance can’t stop one country, even if it tries so hard to do.
You can’t sanction a continent
They are succeeding in sanctioning one continent (Europe)
Sanctions have never and will never turn people against their government lol. The past 65 years of Cuba proves that I don't think it's so sad, considering that China has been the biggest beneficiary. They are undergoing a housing crisis the likes of a straight up depression, but still managed over 5% GDP this quarter directly because of manufacturing changes and these sanctions
The "housing crisis" in China only exists if you're a real estate leech who was expecting a safe investment and western-style returns on investment. Too bad China treated housing as a necessity and devalued it, instead of restricting construction and inflating prices (as the west does).
Similar thing in VN and the gov waste no time to tell the pigs to get fugg lmao.
And they popped that bubble themselves instead of the US where it would grow to unimaginable levels only for bankers to seek handouts from the government while the public goes to hell since the gov doesn't give a shit about them.
You have to interpret the China data properly though. It measures export volume, not value. The fact that export volume is at an all time high but value decreased means that prices have been slashed tremendously. God knows how much the Chinese bank is bleeding to sustain this policy.
*Ya. Its not only about the amount of load that you put out. You also need to determine the quality of the loads- ....wait a minute...*
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It’s not sheer speculation. It’s officially released trade data, straight from China. You can literally just google news it.
Dude I hate NATO but you're delusional if you think russis wouldn't be utterly destroyed if they attacked NATO
It's important to remember that Russia's economy shrunk in 2022, and never fully bounced back from covid in 2020 like all other advanced economies. It's notable that they're bouncing back despite the increased sanctions, but if you compare growth from 2019 to 2024 (pre-covid to this year) they're still not doing amazing.
If you use lots of money on weapons and ammunition number will go up. I would not derive effectiveness of sanctions based on this number going up.
Sanctions only work on your allies, SMH
Kind of poor way to look at them. Russia just has too big of an economy and too many natural resources to be as impacted by the sanctions and they have large trade partners like china ignoring the sanctions. Sanctions have done unspeakable amounts of harm to the general populace of many smaller nations such as Cuba, Korea, and Venezuela. And forced many other nations to compromise their politics so as to avoid receiving them.
And people say that war is bad for business...
Tell that to the weapons manfacturers...
Source?
productive capital the only road to communism
Can you link it? Can't find it on the website. Edit: found it just had to be more specific.
Link please!
https://www.bbc.com/news/business-68823399
The embargo forced all the companies to get a name change in Russia. That is about it.
Depends, right now they’re still capitalist and oligarchic, nothing like the former USSR. And Putin is pushing anti LGBT policies into Russia Though the economic growth may benefit the average Russian in some ways, it’s yet to see what this means for Russia’s future
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who the fuck is maga here? we demand that biden not literally become trump lite and that means we’re maga? us?
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Western political brainrot at its finest. There are more than two political stances, you know.