That said, you can’t possibly believe that Ukraine does nothing wrong, and Russia does nothing right.
Under the circumstances, there is nothing “right” that Russia could be doing other than going back to Russia and then paying for Ukraine to rebuild. There is no “right” action for them to be taking within the borders of Ukraine with their military.
And I said that they [Zelensky, Yermak, reporters] never said that the holocaust site was the target of the attack, only that it was shelled and damaged. I don’t see their quotes in the article claiming that the site was the target of the attack. And if those people didn’t make such claims, and xerty did, then what I wrote is correct.
Not gonna confirm or deny which exact country. My vague description sadly fits quite a few eastern European countries.
But correct I was not born when the puppet regime was installed. I just lived under said regime until 1989.
Anyway, back somewhat on topic, I just read that Russia officially defaulted on payment of its debt because it tried to pay its debt in rubles instead of dollars as agreed. I think they’re appealing the fact that they just could not pay in dollars since they are not allowed to trade for dollars but I wonder what impact if any this will have.
This brings to mind, for me, the plight of the guy who murders his mother and dad and later begs for sympathy and understanding because he is an orphan.
Nah, it’s more like some third party murders his mother since they didn’t like his recent crimes, and then tells him he can’t bitch about being an orphan since he had it coming. Here’s Levine’s take on it
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If you are an American or European investment firm, and you bought dollar-denominated Russian government bonds, do you have a preference between these scenarios?
You might, right? Like in Scenario 2, if Russia really does want to pay you, it might find a way around the sanctions; a Russian finance ministry official might meet you in a park with a bag of gold and say “now we’re even.” That’s better than getting nothing in Scenario 1. Also Scenario 2 might seem a bit more temporary; maybe the war will end and you’ll get paid in full.
Still I suspect that the practical differences between these scenarios are not that big. In particular, once either of these scenarios occurs and you don’t get paid, will you want to lend more money to Russia in the future? “They might decide not to pay me back” is a credit risk, and “they might launch a war of aggression and be unable to pay me back” is a credit risk, and they are not so different in their effects. “No this is not the bad Scenario 1, but the good Scenario 2,” Russia can say, but I don’t think Scenario 2 is really that good?
But people are very invested in the metaphysics of this:
Russia will halt bond sales for the rest of the year and take legal action if sanctions force it into a default on its debt, according to the country’s finance minister.
Anton Siluanov’s comments in Russian newspaper Izvestia come days after the government breached the terms on two bonds by paying investors rubles instead of dollars, and its credit grade at S&P Global Ratings was cut to ‘selective default.’
The threat of default has been hanging over Russia for weeks after it was hit with sanctions because of its invasion of Ukraine. The government in Moscow says it has the funds to meet its debt obligations and has repeatedly blamed the restrictions for its difficulties in making bond payments. Siluanov has said the U.S. and others are trying to force Russia into default.
“Of course, we will sue, because we have taken all the necessary steps to ensure that investors receive their payments,” he said, according to Izvestia. “It will not be an easy process. We will have to very actively prove our case, despite all the difficulties.”
Who will they sue? Where? For what? Russia wants to vindicate the metaphysical status of its default as not-really-a-default, but there is not really a good court for vindicating metaphysical status.
Nah, it’s more like some third party murders his mother since they didn’t like his recent crimes, and then tells him he can’t bitch about being an orphan since he had it coming. Here’s Levine’s take on it
I would say it is much more like the third party temporarily seized the guy’s bank accounts because the guy committed a home invasion against his neighbor and murdered the neighbor’s kids.
And yes, the guy “had it coming” in that case, because they were forewarned, repeatedly, that committing the home invasion was going to have financial consequences. And the guy did it anyway and now has to live with those consequences.
I agree wholeheartedly. My point was that all news is:
To repeat, Russian should not have invaded Ukraine, and should get the HE-double-hockey-sticks out. Also, to re-phrase, everyone shouldn’t believe that all Ukrainian actions are angelic and all Russian actions are demonic.
Okay, dude/dudette, you are right. You never said:
Also, I will also admit that I was wrong. You are the perfect hall monitor.
Nice analogy. I forgot the famous California kids who did that, and had to look them up.
Sorry for combining responses, but at least I combined it with @shin’s. 
Hmm, … maybe I’ll give the Black Rock guys a call and offer to risk my life to re-enter Russia to pick up several hundred pounds of gold. Yikes, I better get off the elliptical and hit the weights.
Let’s shut down more nuclear plants, shall we?
GERMANY’S GAS RESERVES WOULD LAST UNTIL LATE SUMMER, EARLY FALL SHOULD RUSSIA STOP SUPPLIES NOW- NETWORK REGULATOR CHIEF TELLS DIE ZEIT NEWSPAPER
NETWORK REGULATOR CHIEF SAYS GERMAN HOUSEHOLDS WOULD HAVE TO GIVE UP ON HEATING PRIVILEGES IN CASE OF A GAS SUPPLY EMERGENCY
GERMAN COMPANIES AND HOUSEHOLDS DON’T REALISE HOW SERIOUS SITUATION IS
GERMAN HOUSEHOLDS SHOULD NOT TAKE UNRESTRICTED GAS SUPPLY FOR GRANTED IN CASE OF A SUPPLY CRUNCH - NETWORK REGULATOR CHIEF
Nevermind not freezing, the German economy would be a disaster if energy prices rise that much. Almost nothing they could make on the industrial side would be price competitive without reasonable energy costs. Their stock market is probably a short (ie EWG) if you think sanctions continue and Germany is pressured to avoid Russian energy. They are already underperforming Europe and US stock markets, just cut their economic outlook in half -
GERMAN ECONOMIC INSTITUTES CUT 2022 GDP GROWTH FORECAST FOR GERMANY TO 2.7% VS 4.8% PREVIOUSLY - SOURCES
Or maybe they realize that’s suicide and break with the sanctions…
More from Howard Marks on the investment impacts of the war, energy, etc, esp for Europe.
They can thank Merkel for all of it. This new guy, Scholz, is doing his best somehow to overcome all her years of incompetence, a juggernaut of poor policy choices for Germany. But there is only so much he can do in the short run. And of course we do not hear a peep now out of fat old Merkel.
I agree wholeheartedly. My point was that all news is:
- pro-Ukraine, and that they are doing nothing wrong. That is impossible.
- anti-Russian, and they are doing everything wrong. That is impossible.
My point is that Russians ARE “doing everything wrong” within the borders of Ukraine, since their unwelcome presence itself is an illegal war of aggression – let alone the catalog of horrors they have inflicted on the civilian population.
If I had to guess, they’d sue the US because that’s the enemy and specifically because we’re the ones who block their access to dollars.
As for which court (beside the court of public opinion for their own propaganda purposes, for helping China paint the US as the main culprit for Russia invading Ukraine unprovoked, etc), I’d guess the same court the creditors not getting repaid will use to sue Russia for non-performance.
Either way I don’t see how all this litigation would have any tangible impact on actual debt payments. There’s no worse debtor than the one who does not WANT to pay in the first place.
Do you want to rethink that, and the logic which it confounds?
Maybe you meant “right” and “wrong” in a context other than moral/ethical action, which is how I read it at the time.
Though I suppose in that case, those Russian soldiers that desert, defect, or surrender are “doing the right thing”, at least as best can be done, under the circumstances.
Not really. I was thinking exactly of morals/ethics.
In what case, other than moral/ethical?
That is exactly what I was thinking, along with the ones who are reported to be shooting themselves, shooting their commanders, disabling their equipment, retreating, etc.
That’s what I was thinking in response to your comments. My initial comment was, unsuccessfully, trying to focus on the reporting, more than anything else.
Imagine, if you lived in a Communist/Socialist country, like China, Russia, N. Korea, Cuba, the former GDR, etc., and all of the news that you heard said the exact same thing. My nose gets itchy when all news outlets are saying the same thing, even if they’re private.
war crimes all around i guess. watch the telegram links included at your on risk.
US and other non-Russian companies are selling their Russian subsidiaries or assets and taking large losses.
The impact will be felt well beyond the big announcements that have already come mostly from energy companies. A fifth of the companies in the S&P 500 listed Russia subsidiaries for 2021
The biggest hit so far is expected to come from British oil giant BP PLC, which faces a potential loss of as much as $25 billion from exiting its nearly 20% stake in Russian government-controlled oil producer Rosneft. At the other end of the scale, Swedish telecom company Ericsson AB this week made a provision of 900 million Swedish kronor, equivalent to around $95 million, for asset-impairment and other costs stemming from the indefinite suspension of its Russian operations.
One opinion only please, pro-war.
Their crime, like the crime of so many other banished accounts, was not disinformation but skepticism about the US/NATO propaganda campaign . Put another way, it is not “disinformation" but rather viewpoint-error that is targeted for silencing. One can spread as many lies and as much disinformation as one wants provided that it is designed to advance the NATO agenda in Ukraine (just as one is free to spread disinformation provided that its purpose is to strengthen the Democratic Party)
Meanwhile, buy arms manufacturers…
But one question lingers: why is there so much urgency about silencing the small pockets of dissenting voices about the war in Ukraine? … The answer seems clear. The benefits from this war for multiple key Washington power centers cannot be overstated. The billions of dollars in aid and weapons being sent by the U.S. to Ukraine are flying so fast and with such seeming randomness that it is difficult to track.
It is not a mystery who is benefiting from this orgy of military spending. On Tuesday, Reuters reported that “the Pentagon will host leaders from the top eight U.S. weapons manufacturers on Wednesday to discuss the industry’s capacity to meet Ukraine’s weapons needs if the war with Russia lasts years.”
The benefits from endless quagmire in Ukraine are as immense as they are obvious. The military budget skyrockets. Punishment is imposed on the arch-nemesis of the Democratic Party — Russia and Putin — while they are bogged down in a war from which Ukrainians suffer most. The citizenry unites behind their leaders and is distracted
Punishment is imposed on the arch-nemesis of the Democratic Party — Russia and Putin — while they are bogged down in a war from which Ukrainians suffer most.
Is the suggestion that it is more humane to not assist the Ukrainians in defending themselves as they attempt to maintain their sovereignty and freedom, and allow them to be crushed under Russia’s bootheel?
That is a perverse take on events.
The Ukrainian suffering rests solely on the shoulders of Putin and the Russian military.
Western support for their defensive efforts does not increase their suffering, it gives them a meaningful chance to succeed.