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Russian ruble
(sh.itjust.works)
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this post was submitted on 27 Nov 2024
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I know we all want to believe Russia's economy is way worse than ever and almost back in the stone age by now, but if you look at the long term, unfortunately it's not that dramatic...
You are both correct. A decade is a perfectly acceptable time frame by which to judge forex, however the two decade window fills in additional context.
True, but the way I see it, a graph shouldn't be cropped and left without a labeled y axis, especially when making a point about long term-ness.
One narrative is about effectiveness of sanctions, specifically the ones levied at the start of 2022. Zooming out beyond 2015 doesn't really change that narrative (no appreciable effect tied with a change that happened in 2022).
The other narrative relates to Russia's big picture strategy. Undoubtedly by this measure, Russia is underperforming. We might conclude that the sanctions was effective only once, in 2014. Or just a bad economy for another reason that spurred war.
This guy graphs
The issue is the crop has obliterated the starting value
Perfect crop, comrade 🤡
So... basically when Crimea got stolen? I forget if that was also US sanctions, my selections memory remembers we were too soft on them back then.
☝️
Yeah but this clearly isn't as a consequence of the war
Crimea was invaded in 2014.
Please tell us what happened in 2014......
A ten year steady decline in the currency of a "world power" is no big deal. 👍
Yeah, the message I get is that a 10% one-day decline doesn't look like much on the tail end of 70% losses. Worthless paper is worthless.
Russia has the same economy as Italy. We take them only seriously because of their nuclear weapons.
As an Italian.... Not sure if proud or embarrassed....
Sorry….😢
I’m just amazed your comment made it through your clown government internet filter.
According to some social media bubbles, it should have dropped to 1/10 in the past 2 years.
Ah, the kremlin talking points "look your measures doesn't work!!1! (So can you remove them, ok?)"
Nobody thought the ruble would crash one or two years ago.
But well, now is now and it looks like the funds have been used up, the inflation is at its maximum utility etc etc and now it's crash time!
According to some social media bubbles the world is flat and Xenu populated the earth
Actually, it's not. But it's not a world power either.
And a large decline in a single day, smaller than that steady decline in a decade can be quite a big deal. Or can be nothing. Nobody knows.
No fair you’re not allowed to provide context
What? I don't get how it disproves the graph from the other commenter or anything else
Edit: Oh I thought they were saying the first graph depicts it as worse than it is but it was the other way around which makes much more sense
The other commenter cropped their image right before the last massive drop in 2015
By inverting the transaction it more clearly shows the trend between the two currencies.
Maybe if you don't understand basic math? Those charts are just reciprocals
That is literally illegal on the internet.
Why would you argue with a banana? You're obviously not a banana.
Perfect crop, comrade 🤡
"comrade"?
Are you implying that Russia is in any way more communist or less capitalist than the US?
Cause you'd be wrong.
I think he implies that strategic cropping like that seems a lot like Russian propaganda.
If I call a colleague a "cumrade" I'm not implying they are some sort of cum-flavoured soda drink.
Why'd they add coconut?
Oh, so you know "Cumrade Cockonut" too??
Small world :D
They cropped out the banana.
I mean, it being as low as it once was doesn't mean it is going great.
An interest rate of 21% is also not an indication of things going great.
Its true its not that dramatic on its own but this is after implementing a ton of measures to prop it up and cranking up the interest rate. The Ruble is struggling just to stand still and Putin is running out of ways to prop it up.
It's pretty dramatic. Interest rates, currency in freefall, no exports, imports too expensive, morgages failing, salaries dropping, brain drain, ...
It's pretty bad. They have some ways to go, the war chest is not empty, they can continue to print money they can hold of for another two years maybe.
We will see what trump does. But they are in a world of hurt no matter what happens next.
Your graph lacks any context. What is the Y axis?
It literally says in the title of the chart it's rubles per dollar graphed over time
https://feddit.org/pictrs/image/bb4d4926-8385-44fd-b587-d5798b8e00e0.png
Where?
Their economy was never good. Many more people living there than in Germany, much larger country than Germany.... And still economically worse than Germany...
They have the same economy as Italy.
I think I saw that they pumped interest up to like 21% at this point to control inflation. Could you imagine? It's like 7% here in the US and it has made me -very- content with my current vehicle and house.....