Quote (Surfpunk @ 25 Mar 2022 04:50)
Yeah, the housing market has been on fire for several years now. This was not a COVID response.
The underlying reason for the surging prices on the housing market, which go back over 10 years, is the money printing by the central banks. All the central bank money has fueled asset price inflation, exacerbated by some socio-economic macro trends (rural flight, a shift from an industrial to a knowledge-based society, high levels of immigration which also tends to focus on cities).
Of course the "money printer go brrrr"-response to the pandemic has only made this problem worse. No idea by how much though.
Quote (dro94 @ 25 Mar 2022 10:29)
Even if we do suffer from sanctions with higher oil, gas and food prices, the public at large would still support them according to opinion polls. There is a price for freedom that we'll have to pay if we want to deprive the Russian state of money to fund the war
I would be very cautious when it comes to polls like these. People tend to underestimate the sting of personal sacrifice while they aren't suffering from it yet.
Moreover, poll questions like this one, which put a moral cause against personal self-interest, are particularly prone to social desirability bias.
This poll reminds me of these polls about masks where some 60-80% of respondents said they'd continue wearing masks once mandates are lifted. We all know how that turned out...
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Regarding your last sentence: the Russian arms industry is largely autarkic. They have the factories and the natural resources to keep going. Likewise, the big military investments, namely buying tanks and jets, already lie in the past. On the economic side of things, Putin needs just two things to keep up the ongoing war: oil for his tanks (which they have in spades) and roubles to pay his soldiers (the central bank can just print them if necessary). Simply put, it would be foolish to expect an embargo on Russian oil and natural gas to hamper the Russian ability to continue this war in the short-term. It would take many months, if not years, until the loss of heavy material which cannot be replaced by Russia's arms industry or surging inflation due to too much money printing put an economic end to this war.
This post was edited by Black XistenZ on Mar 25 2022 06:14am