A lot of highly skilled people have left:
As an example, the country’s IT sector saw around 100,000 of its workers leave Russia in 2022 – 10% of the total.
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The real Russian problem.
The Russians may not lose at all in Ukraine but may leave the country entirely anyway. With the Ukrainian forces demanding every square inch back and getting it.
The problem Russia has to print too much currency to fight this war from here on out. Hyperinflation is setting in now.
Overall, the annual inflation rate has more than doubled to 5.2% in August from 2.3% in April. The mounting pressures are evident in monthly data, with seasonally adjusted annualized prices jumping by 12.2% in July compared with June, according to the central bank.3 hours ago
My comment it does not matter that the article is behind a paywall. It is obvious what is happening. The Russians can not afford this war. To pay for arms manufacture or import and to feed the army and pay the army Russia must print wildly.
If hyperinflation fully takes hold Putin will be executed by an angry mob. The military will march on Moscow if their pay is worthless. The arms manufacturers will in some cases stop supply. That last thing may have begun as Putin turned to NK for arms.
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A year ago, I proposed that Russia swap food and fuel to North Korea for weapons and troops. Seems that Putin will now get the weapons. Maybe import NK workers too? I would not take importing NK troops off the table either. How reliable is Wagner, having mutinied, then their leadership being offed?
Steve
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The way Putin uses weapons this should be interesting. Month after month Kim is going to get sick of seeing his stockpiles drop at rapid rates.
This war is won internal to the Russian economy. Hyperinflation is going to bring Russia down.
adding
The FED and Powell are not upping rates for all sorts for reasons this month. A major reason the corporate planners do not have time to respond. The FED needs to have lead communication times.
Putin is a digbat. He raised rates and the Ruble weakened immediately anyway.
it has caused a problem for Ukraine’s workforce too. I personally work with 2-3 people that left Ukraine at start of war, and currently interviewing candidates and several leading candidates are from Ukraine and also relocated. These are high paying positions too.
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If the Russians went home there would be no problem.
You’d think Putin would get a clue. He has been an idiot for a long time now.
Putin was supposed to stop with Crimea in 2014. We know he won’t respect borders. This has to end with his life being forfeit.
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