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  • Novak: Russia won’t sell oil to countries that adopt price cap

Quoting Vancarbon
Russia has broken the Western economies despite the sanctions imposed . Winter approaching and energy rationing for Europe whilst economies stagnate and decline rapidly . Instead of feeding arms in start the diplomatic efforts Every country is interdependent .
Russia has NOT broken the economies of the western Democracies.
I cant believe Van, you make such an extraordinary claim.
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I respond as a friend.
I have no doubt that there will be stagnation and contraction. Its part of the normal economic cycle.
No doubt there will be hardship and despondency, However unlike Russia western economies have the economic strength and capacity to buffer their people against the more extreme consequences.
I was privileged in my life to experience how people respond to extreme challenges, and how with the right leadership, prevail.
So Im sorry but I dont buy "End of the World .."Were all going to Die ..OR Broken Economy narratives..
From a proud Englishman Im surprised at your very un-Churchillian sentiment.

If you believe in democracy you have to have the Balls to FIGHT for it.
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Quoting RossEdwards
and how with the right leadership.....
Exactly..right leadership... and not the current clowns
Quite how did this conversion bring us to Jeremy Corbyn?

Youve lost me. Mate..
Sorry one nonsequitur to far.
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What a chit chat. It is hard disagree with any of you. No doubt the economy is declining at a rapid pace. There are many reasons for that. Thankfully, due to many years of sound financial politics in the central banks we are in a position to manage this (:

Question that remains for me to be answered is if the inflation will decline at the same pace as the economy.

With regard to the war the western solidarity will last as long as the people allows it. Once people lose their jobs, cant pay their bills and have no electricity I doubt if we are so close to Ukraine that we are willing to go through that much of a pain. I can only hope so but I doubt it.
Western European Democratic economies have the economic strength* not to allow that to happen.
And they wont. So why hypothesize unreal situations?

Quoting Vancarbon
Easily Ross . Someone who is talking common sense . Ex Prime minister , articulate , smart individual .Does that jog the memory ? I happen to agree with him . We'll leave it now . Take care
Sorry Van to perpetuate this conversation but on a matter of fact.. I dont recall Jeremy Corbyn ever being Prime Minister?
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  • Comment #7
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  • Edited Oct 6, 2022 5:09am Oct 5, 2022 8:05pm | Edited Oct 6, 2022 5:09am
Quoting Vancarbon
Russia has broken the Western economies despite the sanctions imposed . Winter approaching and energy rationing for Europe whilst economies stagnate and decline rapidly . Instead of feeding arms in start the diplomatic efforts Every country is interdependent .
Wishful thinking. (Ok. Not A Wishful Thinking. Edited After Request By Vancarbon)
Western economies are resilient and will last much longer than any of you previously thought.
Russian economy is on the verge of a total collapse and it will collapse during the winter. People familiar with such processes have no problem whatsoever to see that.
All western investments are gone from Russia which made about 85% of the investments. All trading and economy ties with the west are terminated which was about 80% of the trading balance in Russia.
The Oil and Gas export shrink down to 15% of their capacity which will the reason of addition implications dictated by the nature of the Oil and Gas production technologies. Ones the production level is reduced to the current levels, the extreme low winter temperatures in the regions where the Oil and Gas is produced will "kill" the equipment and the whole system will simply crash. Due to low production intensity the Oil will become a slush while the water used to replace the Gas volume will freeze. This is why Russia is burning/wasting millions of tons of Gas not being able to sell it/export it to anyone.
Secondly: One of the strongest Russian businesses was Russian weapon export. After the display the Russian military did in Ukraine, no one will buy Russian weapons anymore.

Don't be delusional. Russia will collapse in the near future. The question is: Is this good or bad. In many ways this is good because as long as Russia exist under the current political formation, there will never be peace in the world. However there are some negative consequences of a possible Russian collapse, but this is another and much bigger topic that's why I'll just stop it here.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Western nations will take extraordinary steps. Germany for instance is firing up coal powered electric plants that were being mothballed or turned into scrap.
Europe is taking extraordinary steps. And rightly so. But we also need look ahead. Without question future is a mix of wind, sun, water and ..... nuclear power plants. Wind, sun et cetera will not do the job. We need a source that can step in when the other cannot. For the time being nuclear power is the only "green" source we have available and the sooner we get going the sooner we can become independent from Russia (and likes).
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