reply on: Russia’s Wartime economy explained \ stacker news ~econ

pull down to refresh

566 sats \ 4 replies \ @stack_harder 6 May \ on: Russia’s Wartime economy explained econ

as a Russia watcher and haver of a Russian wife I would say this sums it up pretty well.

There's all kinds of crazy stuff going on with women trying to marry enlisted men so they get the death payout and widow discounts and more dystopian stuff.

Putin has royally fucked the Russian economy for at least a decade , that being said, if you live in Moscow or Saint Petes, you won't notice much.

when this eventually ends and you have soldiers coming back en masse, the inflation will be huge(it's already quite high on a lot of things) as that money starts hitting the market.

156 sats \ 2 replies \ @Undisciplined 6 May

Are more women taking paid jobs during the war (as opposed to working in the home)?

That was one of the ways GDP numbers got really out of whack during WWII. It wasn't that women were doing a lot more work, they were just switching to the kind of work that counts towards GDP and the really sick part is that the jobs they switched into were probably less productive than what they had been doing.

250 sats \ 1 reply \ @stack_harder 6 May

I don't think it's affecting the number of women in the workforce much, most Russians are dual-income households these days like in the West. But they have the GDP work issue too yes, people are flocking to more to military/war adjacent jobs because that's where the money is.

So you can make some silly money sewing camouflage nets, putting drones together etc but non-war industries or jobs can't afford those high wages, and they're (naturally) complaining about the central bank killing them with the high rates.

The head of the central bank refuses to budge because she doesn't want inflation going crazy.

Russian banks are also paying super-high interest rates on deposits too , upwards of 15% sometimes which is also changing incentives since people think why invest or do anything when I can just park this money in the bank 'risk-free' and get 15% for doing nothing.