Russia Can Endure Pain More Than EU, JPMorgan Says: Video - Bloomberg:
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Russia has a history of being able to endure pain and can do so more than the U.S. or Europe, according to Andrew Goldberg, global market strategist at JPMorgan Asset Management. He speaks with Jonathan Ferro on Bloomberg Television's "On the Move." (Source: Bloomberg - Aug 6)
Mish's Global Economic Trend Analysis: How About Them Apples?: "The Ukrainian economy is in ruins over the war and the collapse in trade with Russia as the cry from President Obama and Senator John McCain for for more sanctions on Russia grows. Sanctions are not not very bright. No one wins in a trade war. And Europe is about to find out in a big way."
Yes, US policy has been "stuck on stupid" ever since 9/11 and even the change of administrations (from Bush to Obama) hasn't really changed this -- the sanctions of the Obama administration against Putin's Russia were really stupid and ineffective-- and could lead to really damaging counter-sanctions. Read a little history and you will discover Russia (Soviet Union) sacrificed more than 20 million lives defeating Hitler's Germany. Dealing with the Obama administration's sanctions will be like a cakewalk in comparison.
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