Friday, June 20, 2025

Putin Orders His Officials Not to Allow Recession

Russian President Vladimir Putin cautioned his officials to make sure their efforts to cool down an economy driven to overheating by military spending don't overshoot and drive it into recession.

Posted by Corky at 09:32 PM | 11 COMMENTS | permalink

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"Some specialists and experts are pointing to the risks of stagnation or even recession. This, of course, is not to be allowed under any circumstances," Putin told the St. Petersburg International Economic Forum, an annual conference to showcase the Russian economy that he had once used to attract investment from the West.

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"Putin pointed to statistics showing that gross domestic product is still growing " by 1.5 percent in the first four months of the year.

However, analysts have pointed out that that is due entirely to ever-higher volumes of output from the defense sector to fight the war in Ukraine. Civil sectors of the economy have slowed sharply, as the government has ended various subsidy programs over the past year, notably for residential mortgages.

The government is being squeezed harder than at any time since the invasion by the fact that global prices for crude oil, exports of which generate a third of its revenue, have slumped to their lowest in over three years as Saudi Arabia and its Gulf allies opened a battle to win back global market share from higher-cost producers in the United States and elsewhere."

more Russian economy news at the link

#1 | Posted by Corky at 2025-06-20 06:26 PM

Russian people are now officially forbidden to be poor or complain, in any way, about the hardships they face because of Putin's insane war for the restoration of the old Russian Empire. Especially no complaining about their sons being cannon fodder.
I think it must truly suck to be Russian!

#2 | Posted by danni at 2025-06-21 07:46 AM

Wouldn't it be good, if our political leadership were in charge of economic decisions, instead of self-interested central bankers?

The head of the federal agency responsible for overseeing Fannie Mae and Freddie Mac called Wednesday for Federal Reserve Chair Jerome Powell to resign if the central bank did not cut rates that day.

#3 | Posted by twinkhunter at 2025-06-21 09:01 AM

Putin gave no indication at the conference that economic problems were about to force any kind of conciliation with the West over the fate of Ukraine.

"I've often said that Russians and Ukraine are the same people," he said in a panel discussion. "In that sense, all of Ukraine is ours."


The Big Russian Lie

#4 | Posted by sentinel at 2025-06-21 09:28 AM

Drudge Headline: "Russian President Vladimir Putin orders his officials..."
Original Headline: "Russian President Vladimir Putin warns his officials..."
Article Text: "Russian President Vladimir Putin cautioned his officials..."

Don't get me wrong, Putin is a despot, but it doesn't help when people take what's the equivalent of a CEO-speech and twist it into histrionic propaganda.

#5 | Posted by sentinel at 2025-06-21 09:36 AM

"Putin is a despot, but it doesn't help when people take what's the equivalent of a CEO-speech and twist it into histrionic propaganda."

Putin is indeed a despot and a neo-Stalinist.

When a dangerous despot like Putin says a recession "is not to be allowed under any circumstances," then your life is in danger if he is not pleased with the next economic report.

#6 | Posted by donnerboy at 2025-06-21 10:31 AM

but it doesn't help when people ...

Also what is it "not helping"?

Putin is worse than most of us can imagine.

What is worrying and not helping Americans is that Trumpy admires him and wants to be just like him.

"I went in yesterday and there was a television screen, and I said, This is genius.' Putin declares a big portion of the Ukraine " of Ukraine " Putin declares it as independent. Oh, that's wonderful," Trump said in a radio interview with "The Clay Travis and Buck Sexton Show." "He used the word independent' and we're gonna go out and we're gonna go in and we're gonna help keep peace.' You gotta say that's pretty savvy."

#7 | Posted by donnerboy at 2025-06-21 11:15 AM

'Also what is it "not helping"?'

I feel like it's a waste time to even try to explain to you, since you never got how all the over-the-top hyperbole and caricatures helped Trump more than it hurt him. I get the reasons why people use propaganda, but in an age where things can be fact-checked in real time, the propaganda needs to be smarter, otherwise it ends up having the opposite of its intended effect.

#8 | Posted by sentinel at 2025-06-21 02:02 PM

There should be a new EO coming out any minute ordering Treasury Secretary Bessent to do the same.

#9 | Posted by Yodagirl at 2025-06-21 02:37 PM

Let's see if the tax the wealthy

#10 | Posted by RightisTrite at 2025-06-21 03:27 PM

Can't remove the Soviet Union from Putin.

#11 | Posted by BellRinger at 2025-06-22 10:48 AM

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