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Putin’s fear of „overheating” and inflation

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Putin’s fear of „overheating” and inflation
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The Russian economy is weak under the current circumstances. Clearly, Putin must think again if he wants to save the economy, because time is running out.

MOSCOW – The West is gradually turning away from Kremlin President Vladimir Putin. Now fears about the negative consequences that the Russian economy may suffer are so present that more and more Russian business representatives are appealing to Putin. The war in Ukraine and sanctions have greatly weakened the Russian economy, and Putin appears to be running out of resources to avoid the worst-case scenario.

The Russian economy is in crisis – high inflation is putting Putin under pressure

Recently, there have been increasing warnings of signs of „overheating” of the Russian economy. Hermann Greif became particularly clear, Chairman of the Board of Directors of Sberbank, the largest financial institution in Russia. Gref told the state news agency that the Russian economy is „very overheated.” Tass.ru on June 4, 2024. It is simply “impossible” to exceed this production capacity and produce more.

The Russian economy is increasingly suffering from sanctions and the war in Ukraine. © Yuri Kochetkov/DPA

In December 2023, the head of the Central Bank, Elvira Nabiullina, had already expressed concern: “The economy is growing so fast because it is exhausting almost all available resources. Stubbornly high inflation is evidence that the economy has deviated from its potential and lacks the capacity to meet growing demand.” In fact, inflation remains a major problem in the Russian economy.

Inflation remains a major problem for the Russian economy

As the Russian statistics agency Rosstat announced on Friday (June 14, 2024), the inflation rate in May reached 8.3 percent on an annual basis. It is the highest value since February 2023. This was higher than the value of 7.8 percent at the end of April and well above the country’s official inflation target of 4.0 percent. The rapid rise in prices put pressure on the Russian Central Bank to continue raising interest rates to control inflation.

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It also remains to be seen what impact the latest US sanctions will have on Russia’s financial sector. On Wednesday (June 12, 2024), the United States imposed new sanctions on supporters of Russia’s war of aggression, including against Chinese companies. According to the US government, the punitive measures target more than 300 people and institutions that enabled Russia to continue the war – including the stock exchange in Moscow. The Moscow Stock Exchange announced that it would stop trading in dollars and euros in response. This step would push the Russian economy into further isolation.

Sanctions imposed on the Russian economy lead to a slowdown in growth

Penalties and The Ukraine war forced Putin to shift to a war economy, which now retaliates and also slows growth. The domestic economy proved resilient – ​​but according to the World Bank, this was due to the intensification of the war economy, subsidies and private demand, which was stronger than expected. Experts have long warned that the war economy will not be sustainable in the long term.

The World Bank expects economic growth of 2.9 percent for 2024 (January: 1.3 percent), and 1.4 percent (January: 0.9 percent) for next year. Military production continues to have positive effects, but private demand is likely to decline. In April 2024, the International Monetary Fund expected economic growth of 3.2 percent for next year, based on new economic data. The era of the „growth miracle” appears to be coming to an end. (Buhi with materials from the German Press Agency and Agence France-Presse)

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Trump’s VP J.D. Vance complains about Germany: 'Green energy policy is ridiculous’

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Trump’s VP J.D. Vance complains about Germany: 'Green energy policy is ridiculous’
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Trump has chosen J.D. Vance as his running mate. The Ohio senator has a critical eye on Germany, especially its security and energy policies.

Updated as of July 18, 2024 at 6:40 AM: The transatlantic coordinator of the federal government has recommended that Europeans engage constructively with the new government if Republican presidential candidate Donald Trump wins the election. Michael Link (FDP) said on the sidelines of the Republican Party convention in Milwaukee that Europeans should not grumble or complain about Trump or his then-Vice-President-elect J.D. Vance. Instead, for example, one should make clear that the war in Ukraine also concerns US interests.

New vice presidential candidate J.D. Vance is not backing down on Habeck’s energy policy. © IMAGO (2) / Panama Photos / ZUMA Press Wire (compiled)

Trump’s VP Vance looks critically at Germany, praises another EU country

First report dated July 17, 2024: WASHINGTON, D.C. – James David Vance has become known as a chronicler of America’s underdeveloped white working class with his book Hillbilly Elegy . He has earned a reputation for understanding this social group to which he himself belongs, but to which he no longer belongs since his career as a venture capitalist in Silicon Valley. Yet with the support of Donald Trump, the political newcomer has been catapulted into the Ohio senator’s office. On domestic policy, Vance represents a more hawkish right-wing conservative position than Trump on issues like abortion. But what does he think of Germany?

Basically, Vance likes European countries with more sympathetic conservative governments; the more conservative the better. He has already praised Hungary in particular in the past. Viktor Orbán’s recent visit to Donald Trump highlighted the close ties between the Hungarian prime minister and Trump supporters. In the spirit of Orbán, Vance criticized the fact that Germany actually calls the shots in the EU, for example when it comes to cutting off financial resources to conservative-ruled EU countries that flout the rules.

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Vance criticizes Germany: It dominates the EU and spends too little on security

Aid money was withheld from Hungary because the country did not want to participate in support for Ukraine, and from Poland because of the conservative views of its previous government, Vance said in February in an interview with the Brussels-based newspaper. European Conservative. “This is not a rules-based order,” the Republican continued, “but a Europe that imposes liberal imperialist ideas from Brussels and Berlin on the rest of the continent.”

On the other hand, Vance demands that Germany take on international responsibility, especially in security policy. He essentially repeats Trump’s accusations that Germany does not provide enough resources for NATO since his first term as US president. Now that the Federal Republic has confirmed that it no longer wants to abandon the NATO spending target of 2%, Vance questions whether that is enough and fundamentally questions the defensive capabilities of the German armed forces.

France comparison: Trump’s VP questions Germany’s defense capabilities

So he threw Germany into an op-ed for Financial Times In February, for example, it said it had little to offer militarily, even though it spends far more on defence than France. “The French army has six highly efficient combined arms brigades, but Armed forces There he wrote with difficulty to gather a single fighting brigade.

Vance’s biography sparks discussion

JD Vance with him Hillbilly Elegy book (Promotional link)The book, published in German in 2018, has generated a wave of interest. In his autobiography, he describes the crisis of the white working class in the United States from a very personal perspective.

READ  Putin's big brain drain: tens of thousands of well-educated Russians on the run

In March 2023, Vance particularly eye-catchingWhen he called Germany’s conduct in the Ukraine war “shameful” on X. It is “an insult to our voters that so many Republicans agree with this,” because all of Germany’s promises “have turned into nonsense.” It is unclear to him why “American taxpayers are subsidizing Germany’s foolish energy policy and weak defense policy.” At the time, he was taking aim at Germany’s long-standing dependence on Russian gas, which has now largely been eliminated.

Downsizing manufacturing, Vance says, “in the name of a ridiculous green energy policy.”

He resumed his criticism of German energy policy at the Munich Security Conference in February. “If Putin is to be defeated at all costs, then stop, my dear German friends, deindustrializing your country in the name of a ridiculous green energy policy.” Vance thus insists on increasing German defense efforts, specifically developing the arms industry, but he frames it as if Germany itself created the problem to which it was supposed to respond.

Trump or Biden? It will be interesting in the US election campaign

Stay informed with our free US Elections newsletter. Contributions from our popular partners, such as The Washington Post, provide you with the American perspective. Translated into German. Click here to subscribe to the US Elections Pact newsletter.

“You’re deindustrializing your country while at the same time saying that Putin must be defeated at all costs,” the senator said at the security conference. At the same time, he believes European fears about further Russian aggression in the future are overblown. In a conversation with CNN Last December, he called the idea that Putin might “march into Poland or Berlin” “ridiculous.” Instead, Vance also represents Trump’s line to resolve the Ukraine war as quickly as possible, including territorial concessions from the invaded country.

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The European shift to the right has so far been too weak for Vance.

In general, the deputy largely agrees with his boss on foreign policy. China He said shortly after his nomination Fox News “The biggest threat we face, and the one that we are completely distracted from right now.” This is consistent with the idea that U.S. security commitments to European partners like Germany and military support for Ukraine represent that distraction.

He believes that if the United States continues to support Ukraine in the way Europe wants, it will push Putin’s Russia closer to China. “I wonder why we are making it more likely that Vladimir Putin will ally with communist China when we should really be trying not to push any country into Beijing’s arms,” he said. European ConservativeIn general, one should focus “more on East Asia” and “less on Europe,” Vance continued.

Ahead of the European elections, Vance said: European ConservativeHe would like to see more „populist victories” there, and for European elites to give voters what they voted for. According to him, this means less immigration: in Great Britain the Conservatives promised this, and in Italy Giorgia Meloni, but then failed to deliver. And the Federal Republic is no exception: „The fact that the AfD is doing so well is due solely to the fact that resistance to mass immigration is growing in Germany,” said Trump’s deputy Vance. (Michael Kester)

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Barack Obama advises Joe Biden to 'seriously’ reconsider his candidacy

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Barack Obama advises Joe Biden to 'seriously’ reconsider his candidacy

Former US President Barack Obama has apparently expressed doubts to other Democrats in recent days about whether Joe Biden can win the US presidential election in November. Washington Post Obama reportedly said Biden should “seriously consider the merits of his candidacy.” Biden was vice president in the Obama administration from 2008 to 2016.

According to the newspaper, Obama is said to have spoken behind the scenes by phone with several interested Democrats who are also skeptical of Biden’s candidacy, including prominent politician Nancy Pelosi.

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Obama Worried About Biden’s Poll Numbers

Obama also expressed concern about Biden’s poll numbers in the debates. Things are looking increasingly worse for Biden, while Republican Donald Trump is increasingly winning voters. Obama is also clearly concerned about donors leaving the campaign.

Several Democrats in Congress have already withdrawn their support for Joe Biden. In an op-ed published last week in the New York Times, Hollywood actor George Clooney, who has been a major donor to Biden’s campaign, called on Biden to drop out of the race.

Pressure is mounting on the president. He reportedly met recently with Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries. Both warned Biden that his nomination would cast a shadow over Democrats’ chances in the November election.

The current US president, by contrast, remains stubborn: During a campaign appearance last week, Biden made it clear that he did not want to withdraw from running for office again. “We have to finish this job,” he told supporters in the small town of Northville, Michigan. “And I promise you, I’m fine.” (With AFP)

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Trump’s VP Vance on Germany: 'Green Energy Policy Is Ridiculous’

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Trump’s VP J.D. Vance complains about Germany: 'Green energy policy is ridiculous’
  1. Homepage
  2. Policy

He presses

Trump has chosen J.D. Vance as his running mate. The Ohio senator has a critical eye on Germany, especially its security and energy policies.

Updated as of July 18, 2024 at 6:40 AM: The transatlantic coordinator of the federal government has recommended that Europeans engage constructively with the new government if Republican presidential candidate Donald Trump wins the election. Michael Link (FDP) said on the sidelines of the Republican Party convention in Milwaukee that Europeans should not grumble or complain about Trump or his then-Vice-President-elect J.D. Vance. Instead, for example, one should make clear that the war in Ukraine also concerns US interests.

New vice presidential candidate J.D. Vance is not backing down on Habeck’s energy policy. © IMAGO (2) / Panama Photos / ZUMA Press Wire (compiled)

Trump’s VP Vance looks critically at Germany, praises another EU country

First report dated July 17, 2024: WASHINGTON, D.C. – James David Vance has become known as a chronicler of America’s underdeveloped white working class with his book Hillbilly Elegy . He has earned a reputation for understanding this social group to which he himself belongs, but to which he no longer belongs since his career as a venture capitalist in Silicon Valley. Yet with the support of Donald Trump, the political newcomer has been catapulted into the Ohio senator’s office. On domestic policy, Vance represents a more hawkish right-wing conservative position than Trump on issues like abortion. But what does he think of Germany?

Basically, Vance likes European countries with more sympathetic conservative governments; the more conservative the better. He has already praised Hungary in particular in the past. Viktor Orbán’s recent visit to Donald Trump highlighted the close ties between the Hungarian prime minister and Trump supporters. In the spirit of Orbán, Vance criticized the fact that Germany actually calls the shots in the EU, for example when it comes to cutting off financial resources to conservative-ruled EU countries that flout the rules.

READ  Ukraine-Konflikt: US-Kampfjets landen in Estland - Russland droht mit „Gegenmaßnahmen”

Vance criticizes Germany: It dominates the EU and spends too little on security

Aid money was withheld from Hungary because the country did not want to participate in support for Ukraine, and from Poland because of the conservative views of its previous government, Vance said in February in an interview with the Brussels-based newspaper. European Conservative. “This is not a rules-based order,” the Republican continued, “but a Europe that imposes liberal imperialist ideas from Brussels and Berlin on the rest of the continent.”

On the other hand, Vance demands that Germany take on international responsibility, especially in security policy. He essentially repeats Trump’s accusations that Germany does not provide enough resources for NATO since his first term as US president. Now that the Federal Republic has confirmed that it no longer wants to abandon the NATO spending target of 2%, Vance questions whether that is enough and fundamentally questions the defensive capabilities of the German armed forces.

France comparison: Trump’s VP questions Germany’s defense capabilities

So he threw Germany into an op-ed for Financial Times In February, for example, it said it had little to offer militarily, even though it spends far more on defence than France. “The French army has six highly efficient combined arms brigades, but Armed forces There he wrote with difficulty to gather a single fighting brigade.

Vance’s biography sparks discussion

JD Vance with him Hillbilly Elegy book (Promotional link)The book, published in German in 2018, has generated a wave of interest. In his autobiography, he describes the crisis of the white working class in the United States from a very personal perspective.

READ  Trump's son complains and gets angry after the guilty verdict

In March 2023, Vance particularly eye-catchingWhen he called Germany’s conduct in the Ukraine war “shameful” on X. It is “an insult to our voters that so many Republicans agree with this,” because all of Germany’s promises “have turned into nonsense.” It is unclear to him why “American taxpayers are subsidizing Germany’s foolish energy policy and weak defense policy.” At the time, he was taking aim at Germany’s long-standing dependence on Russian gas, which has now largely been eliminated.

Downsizing manufacturing, Vance says, “in the name of a ridiculous green energy policy.”

He resumed his criticism of German energy policy at the Munich Security Conference in February. “If Putin is to be defeated at all costs, then stop, my dear German friends, deindustrializing your country in the name of a ridiculous green energy policy.” Vance thus insists on increasing German defense efforts, specifically developing the arms industry, but he frames it as if Germany itself created the problem to which it was supposed to respond.

Trump or Biden? It will be interesting in the US election campaign

Stay informed with our free US Elections newsletter. Contributions from our popular partners, such as The Washington Post, provide you with the American perspective. Translated into German. Click here to subscribe to the US Elections Pact newsletter.

“You’re deindustrializing your country while at the same time saying that Putin must be defeated at all costs,” the senator said at the security conference. At the same time, he believes European fears about further Russian aggression in the future are overblown. In a conversation with CNN Last December, he called the idea that Putin might “march into Poland or Berlin” “ridiculous.” Instead, Vance also represents Trump’s line to resolve the Ukraine war as quickly as possible, including territorial concessions from the invaded country.

READ  At a press conference: Putin calls possible attack on NATO "nonsense" - and praises the AfD

The European shift to the right has so far been too weak for Vance.

In general, the deputy largely agrees with his boss on foreign policy. China He said shortly after his nomination Fox News “The biggest threat we face, and the one that we are completely distracted from right now.” This is consistent with the idea that U.S. security commitments to European partners like Germany and military support for Ukraine represent that distraction.

He believes that if the United States continues to support Ukraine in the way Europe wants, it will push Putin’s Russia closer to China. “I wonder why we are making it more likely that Vladimir Putin will ally with communist China when we should really be trying not to push any country into Beijing’s arms,” he said. European ConservativeIn general, one should focus “more on East Asia” and “less on Europe,” Vance continued.

Ahead of the European elections, Vance said: European ConservativeHe would like to see more „populist victories” there, and for European elites to give voters what they voted for. According to him, this means less immigration: in Great Britain the Conservatives promised this, and in Italy Giorgia Meloni, but then failed to deliver. And the Federal Republic is no exception: „The fact that the AfD is doing so well is due solely to the fact that resistance to mass immigration is growing in Germany,” said Trump’s deputy Vance. (Michael Kester)

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