The Russian economy (catch all)

[Firn]

Find it interesting that the leader of the Jewish community in Kiev stated recently that they have had no problems with neo right radicals and or neo Nazi's and that they the Jewish community Kiev were also fighting in the Maidan just as was the neo right.

Really thought the use of the fear of "Nazi's" had died with Stalin.

But I guess old habits of the KGB die hard.

Reading the NYT Lede blog, watching a couple of minutes of videos and seeing the Kremlins reaction is really a chilling experience. I would have dismissed it as far too simplistic a couple of weeks ago, but the current actions of Putins regime have indeed KGB all written over it.

Indeed it is not a single action or the combination of some, it is brazen depth and vast width of the whole package which cries KGB, KGB, KGB. That inner circles seems to completely disregard the diplomatic,legal and economic consequences of their deeds, looking almost only through those KGB glasses at the world.

The good thing is that with tiny sanctions the EU and USA have already triggered a great flight out of the ruble and nice burning of foreign reserves. I think it is high time that they ratchet up the effort, perhaps ideally each couple of days to keep the Russian market nervous and to let the capital flee. If the Russian retaliate economically, all the better, as they will hurt themselves the most and the West can easily match it to inflicht further pain. As stated before, cutting off the gas supply into the EU by themselves would be ideally harmful, if there is a little bit of political willpower on the European side.

Of course a week ruble would decrease the prices of their industrial products and services, making their goods more competitive but exactly what goods? What are they able to sell in a meaningful number to make up the lost revenues? To which non-Western country?