Russian economy bad
Russian economy bad
42 comments
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I think those are Hungarian banknotes.
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Somehow I feel this meme wasn't supposed to be literal
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I would be pretty Hungary too if all that money doesn't even buy a loaf of bread.
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Looks like around 130000 HUF to me, so around 320 EUR and falling steadily.
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Then take Turkey
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Bruuhh thats hungarian forint and at this point we are also using monopoly money like the russians...
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I so wanted to ridicule the ruble, but Forint is like the quarter of the value, still.
UPDATE: It's a bit hard to go through every pixel, but what you can see on the photo is about ~250K HUF which is the equivalent of ~600 euros.
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Monopoly money.
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Why do people think Russians care about the exchange rate with western currencies when Russia doesn't actually do any trade using them, and people don't hold them domestically?
Also, anybody with even a minimal clue regarding how economics works would understand that a weak currency is good for a commodity exporter since it converts to higher revenue in domestic currency.
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Exchange rates don't mean much, if they did, the UK economy wouldn't be in the shitter and China's wouldn't be the big bad monster it's become in US media recently.
GDP adjusted for Purchasing Power Parity is what matters, and Russia is the 4th economy in the world under those metrics. It overtook Japan some months ago.
Maybe analyse why your corporate media wants you to simultaneously believe Russia has spent three years on the verge of collapse yet you need to send another hundred billion in weapons and fire them all right fucking now, Armageddon be damned.
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The exchange rates matter for the specific case of global trade. If a country is primarily an importer then they want their currency to be strong, and if it's an exporter than having a weaker currency is better. PPP applies more in terms of the internal economy of the country.
If a country is largely self sufficient then its internal economy isn't going to be affected much by the value of the currency on the global market. This is precisely why Russian internal economy isn't severely affected by the value of the currency on the markets.
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It's been this bad before? That's funny too.
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This literally happens every years, and people don't seem to notice a pattern apparently. Russian government gets more revenue domestically from doing exports with a weak currency.
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It’s been worse before, but news of its impending demise was greatly exaggerated: Biden turned the ruble into rubble. Then it quickly came back. If anything’s been funny, it’s been the US’s/NATO’s overconfidence.
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you realise its gonna crash the moment russia opens its markets again, right?
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What markets are you talking about? Its import/export markets? Its stock market?
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In Russia we really like 50 Cent.
Or, as we like to call him, 2.5 Million Rubles.
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Hungarians*
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"Russians be like
1 Hungarians"?
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Pretty sure that’s HUF.
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It's gotta be fun to actually make it rain bills in the club, though.
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Accurate. But you can't even practically spend it.
42 comments