We have operated at a deficit for 40 years, we print money, bro, we don't care. I don't think Ukraine will be as hamstrung by the funds as you think, but that's just me.
I don't know if we have given that much, Strickland posted that stat which showed we've given 27 billion.
Here,
@Dostoevsky
Exactly one year ago today, Russian tanks rolled across Ukrainian borders, setting off the largest armed conflict since World War II.
Repercussions from the war have impacted people from Illinois to Islamabad, straining economies and reshaping political agendas. While combat continues in eastern Ukraine, let’s look back on how the Russian–Ukraine war has changed the world over the past year.
The human toll
- At least 7,199 Ukrainian civilians have died, more than 11,000 have been injured (both figures are the latest UN estimate and are likely a major undercount), and as many as 100,000 of its soldiers have died or sustained injuries.
- Russian military casualties are believed to be approaching 200,000, per US officials.
More than 8 million Ukrainian refugees (~20% of the country's prewar population) have fled to other European countries. Hundreds of thousands of Russians also left home.
Economic losses
- The war has cost Ukraine hundreds of billions of dollars in damaged infrastructure and caused its GDP to plummet by 30% in 2022.
- Russia’s output contracted by just over 2%, surprising many economists who believed a meltdown was imminent.
But economist Sergei Guriev cautions against using GDP to measure the performance of a wartime economy since military expenditures can distort the big picture. He says Russia’s economy is worse off than it seems, and points to a significant decline in Russia’s consumer spending and a higher-than-expected increase in its government’s budget deficit.
Shifting global trade
Russians now have to shop abroad to snag a Big Mac or a pair of Levi’s jeans. Over
1,000 multinationals, including Microsoft and Nike, said they’d limit their operations within Russia’s borders or leave altogether in the first months of the war, according to a group of Yale researchers led by management professor Jeffrey Sonnenfeld.
Sonnenfeld says that the corporate exodus from Russia is six times bigger than the one during the apartheid era in South Africa, which at the time—1988—was the largest in history.
But most damaging to the Russian economy has been the action of governments abroad. Due to its invasion of Ukraine, Russia is now the most sanctioned country in the world, with restrictions on its energy exports, strategic imports, and access to the global financial system.
And the EU, which at times relied on Russia for almost half of its natural gas imports, has cut those levels to less than 10%, according to Axios.
Zoom out: The biggest international conflict since World War II has spurred many countries to reconsider their approach to national defense. Notably, Germany and Japan appear to have abandoned their customary pacifism by promising to ramp up their military spending, and the US is increasing its arms stockpiles.
—SK
https://www.morningbrew.com/daily/stories/2023/02/23/the-war-in-ukraine-1-year-on?cid=30645048.2490817&mid=5b561f25eb1f6eb291c4f5354f33b15c&utm_campaign=mb&utm_medium=newsletter&utm_source=morning_brew
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