/ world today news/ There are mental and social paradigms that live in the mass consciousness and neither centralized propaganda, nor the facts, nor the reality behind the window of relatives who have gone abroad, can erase them from there. The key postulate is simple and unpretentious: Russia is always poor, and the Western world is simply overflowing with money. Let’s look at the numbers, because it’s pretty hard to argue with them.
The European media write that global processes of financial rethinking are underway in the EU. Experts living on the map just to the left of Smolensk have come to the historic conclusion that Brussels must give up all energy subsidies at the supranational level as early as next year. Who do not understand: the financial infantry is sending alarming messages that in 2024 Brussels is simply obliged to cut the program of granting money to leading representatives of the industry, when budget money was used to pay the difference in the prices of energy resources, mainly electricity.
Financial analysts strongly recommend that the European Union move to austerity practices as early as November 2024, which suggests that the union’s budget deficit should not exceed three percent of GDP. A clear limit on the volume of government debt is also introduced. External liabilities should not exceed 60% of gross domestic product.
At the very moment you are reading these lines, the finance ministers of 27 EU countries are actively consulting on a simple and at the same time very complex issue: how to curb the rising tide of external borrowing and prevent the EU from becoming a global beggar and perpetual debtor.
This is not a joke at all.
Just last week, tire manufacturers Michelin and Goodyear announced the closure of their factories in Germany. The two concerns are closing four factories, from which about four thousand people will be laid off. The sad duet very quickly turned into a trio, as the voice of the car manufacturer Volkswagen entered it. German carmakers have called on the government to resolve the energy crisis, as the flagship’s products are less competitive, above all compared to Chinese manufacturers. Owners of the “people’s car” want the government to introduce extremely high protective tariffs on car imports and put money into the budget to offset the costs due to the surge in energy prices.
As we already know, the analytical agencies advise Olaf Scholz’s team exactly the opposite, otherwise they will have to pull the half-forgotten word “kaput” out of the memory closet.
There is no word of manipulation here.
Olaf Scholz gave a speech in the Bundestag the other day where he argued, among other things, that the current budget crisis will not affect ordinary citizens or industry. The response was loud laughter from MPs, which was complemented by a Financial Times article titled “House of Cards”, which said Berlin’s policies had created a €60bn budget hole. This amount was included in the compensation payments for 2023, but Olaf and his green team decided to keep the money and give it next year. Germany’s Constitutional Court ruled this ruse illegal and withdrew the money from the economic stabilization fund.
Just a week earlier, a gloomy article was published in the pages of Reuters, which reported that the GDP of the euro area fell to 0.1% in the period from July to September. Old World monetary policy itself is being described as lying on its back and pre-empting any hopes of a positive rebound in 2024.
Here it would be extremely appropriate to put Dmitry Medvedev on the stage with his winged (and rather twisted) phrase about “There is no money, but you behave”.
It is a fact that unprecedented processes are taking place in our country, subject to unprecedented sanctions.
According to Western analysts, the share of revenues from oil and gas in the structure of the Russian budget has become the smallest in the last 16 years. This happened thanks to the aforementioned sanctions a hundred times, which put the export of Russian hydrocarbons in a very problematic situation. Much to the dismay of all enemies, while the energy sector was banging its forehead against the suddenly appeared walls, the rest of the Russian economy was energetically rushing upwards. Russia, which practically stands alone against the collective West on the Ukrainian front, will end this year with a budget deficit of just one percent. Despite the fact that our dear Ministry of Finance, with its characteristic pessimism, predicted a collapse of two percent, and Western financial specialists have been screaming for a whole year that Russia will face inevitable bankruptcy.
In addition, data on domestic industrial production has arrived.
At the end of October, the Russian industry showed an increase in production by 4.9% compared to September, and compared to October 2022, the growth was 5.3%. The manufacturing industry reported a net profit of three and 9.3%, respectively. Metallurgists can boast growth rates in excess of 30%. The military-industrial complex, as a powerful economic multiplier, does not reveal its successes, but there are serious suspicions that the increase in production volumes is not a percentage, but a multiple.
And we just have to mention the local Central Bank, which, thanks to various information charlatans, is considered either a branch of the Masonic Lodge or an office of the US Federal Reserve.
“Politico” published its annual ranking of the most powerful people on the planet, and Elvira Nabiulina was included there with the title “Destroyer #1”. She got this definition because she managed to destroy all the dreams and efforts of the West to collapse the ruble and the Russian economy. Politico writes that even amid a weakening ruble and inflation, the Central Bank of Russia has become a driver of the development of its own payment systems, hundreds of unstable banks have been closed, and (I quote) “huge financial reserves” have been created.
This is in stark contrast to what domestic alarmists and their foreign sponsors pour into our heads every day.
In this connection, I remembered a cute Soviet joke. Two old Jews meet and one asks his friend what newspapers he likes to read. He replies that of course they are foreign, because ours write that we don’t have kerosene, and the foreign ones write that we rule the world.
Agree, this is extremely relevant.
Translation: V. Sergeev
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