5 ms·

Not comparable, at the time the USSR had an unsustainable economic policy of price control and other socialist goodies. Today's Russia has a market economy simi

Not comparable, at the time the USSR had an unsustainable economic policy of price control and other socialist goodies. Today's Russia has a market economy similar to the rest of the Western world and these economies are way more resilient to crisis like this.

opportune 7y ago
Except oil and gas makes up over 70% of their exports meaning they are highly susceptible to getting their exchange rates (and thus international trade) wiped out by a drop in value of their primary export. They basically suffer Dutch disease like most other oil exporters
- enraged_camel 7y ago
  Russia was the one that declined to cut oil production at the last OPEC+ meeting, which means they are capable of enduring this type of downturn. edit: why the downvotes? if you disagree, show some courage by posting a reply.
  - patrickaljord 7y ago
    Saying anything remotely positive about Russia is a no-no on HN. Even if you're not even technically praising them (I wasn't and neither are you). Just saying they may not be going down soon is enough to be downvoted apparently.
justin66 7y ago
Over sixty percent of Russia's exports are in oil and gas.
m0zg 7y ago
If anything the USSR economic policy was far more sustainable than what they have now. They had _manufacturing capacity_ and were almost entirely self sufficient. That is not the case today. And the stuff they import, they have to pay Euros and Dollars for. Ruble has been pretty much in free fall for more than a week now. Their population today (unlike back then) is not ready for a drastically reduced quality of life. Source: Russian-American, lived through perestroika and the "wild 90s", still have family there.
- makomk 7y ago
  Oh dear. An unstable Russia, a confident and resurgent China with something to prove, a United States distracted with its own internal problems... are we going to see World War III?
  - m0zg 7y ago
    Not really, no. You can thank MAD for that. There's nothing to gain and everything to lose. Other countries understand the threat of proliferation and will swoop in at the last minute to make sure the weapons stay in the hands of someone sane, just like they did in the 90s.

opportune 7y ago

Except oil and gas makes up over 70% of their exports meaning they are highly susceptible to getting their exchange rates (and thus international trade) wiped out by a drop in value of their primary export. They basically suffer Dutch disease like most other oil exporters

enraged_camel 7y ago
Russia was the one that declined to cut oil production at the last OPEC+ meeting, which means they are capable of enduring this type of downturn. edit: why the downvotes? if you disagree, show some courage by posting a reply.
- patrickaljord 7y ago
  Saying anything remotely positive about Russia is a no-no on HN. Even if you're not even technically praising them (I wasn't and neither are you). Just saying they may not be going down soon is enough to be downvoted apparently.

justin66 7y ago

Over sixty percent of Russia's exports are in oil and gas.

m0zg 7y ago

If anything the USSR economic policy was far more sustainable than what they have now. They had _manufacturing capacity_ and were almost entirely self sufficient. That is not the case today. And the stuff they import, they have to pay Euros and Dollars for. Ruble has been pretty much in free fall for more than a week now. Their population today (unlike back then) is not ready for a drastically reduced quality of life. Source: Russian-American, lived through perestroika and the "wild 90s", still have family there.

makomk 7y ago
Oh dear. An unstable Russia, a confident and resurgent China with something to prove, a United States distracted with its own internal problems... are we going to see World War III?
- m0zg 7y ago
  Not really, no. You can thank MAD for that. There's nothing to gain and everything to lose. Other countries understand the threat of proliferation and will swoop in at the last minute to make sure the weapons stay in the hands of someone sane, just like they did in the 90s.