Costs? US Exports To Russia Collapse 34%

Tyler Durden's picture

While Jack lew promised the economic impact on the US economy of Russian sanctions would be minimal, the facts suggest the opposite. Admittedly, Russia is not the US' largest trade partner but escalating sanctions have resulted in a 34% collapse in US exports to Russia - the largest absolute drop since 2010. Imports (from Russia) also fell (for the 3rd month in a row) but while the US is suffering 'costs' it is clear Russia is hurting more (for now - as Putin is set to unleash his countermeasures). Since sanctions began Russian stocks are up 9.5% and the S&P up 4.5% but the spread has collapsed in recent weeks.

 

Costs?

 

Costs? 3rd time the charm?

 

Charts: Bloomberg

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syntaxterror's picture

The Free Shit Army wasn't affected so in Team BHO's view there "was no impact to the US economy".

Leonardo Fibonacci2's picture

Putin is playing chess Obama and Vald is 2 moves from CHECK MATE!!! But Obama is too blind to see it coming!

lordylord's picture

You know your government is fucked up when people on this site are cheering for Putin.

syntaxterror's picture

Cheering? Just casually observing two of the biggest bullshit artists on earth. Nobody is dumb enough to trust either one nowadays. 

jerry_theking_lawler's picture

no. hoping Putin can dispatch the POTUS power...bring back sane people in .gov.

 

Putin is just as big a POS as obummer, but at least I share more values with Putin....

Kirk2NCC1701's picture

Just so w're clear... by FSA, you mean the "Welfare Queens" at the Bottom AND the Top of the economic pyramid, right?

IOW, the Top = 0.1%, (MFN + Most Favored Neocons) who benefit from first in line for QE.  So we're not being conned into picking only on the perma-poor.

syntaxterror's picture

Yep, the FSA is led by the likes of General JP Morgan and General Goldman at Fort Wall Street.

Cocomaan's picture

... and followed by the hordes of long term unemployed and disabled.

It's a shame that there's a dwindling minority of people actually trying to make this country work.

CheapBastard's picture

Doctors Begin To Refuse Obamacare Patients

 

Many of the eight million sign-ups in Obamacare exchanges nationwide already face more limited choices for physicians and hospitals than those in the private insurance market. But with low physician reimbursement rates, the problem could get even worse.

Read more: http://dailycaller.com/2014/08/04/doctors-begin-to-refuse-obamacare-patients/#ixzz39dTQzFDi .....................I guess Doctors want to be paid for their work -- slinging pus around, fixing broken bones and removing brain tumors. Can't blame them. Oh yeah, and maybe they want to pay back that $120k for their med school education. "Not a good job anymore," my own GP tells me. He said he works almost 24/7 and Barry throws them a dry bone while bailing out bankers. He said, "It's going to get tougher on lots of patients." Gee. What's happening to our nation? Where's our priorities?
IronShield's picture

Get the middlemen out of the way and go to an open and published catalog of services, not unlike the Japanese, and then you're talking. 

Though Doctors deserve a higher than average salary, there is a limit.  Doctoring is a noble profession that shouldn't be driven by desire for compensation.  If you really want to make money, become a plumber or an electrician.  ;-)

The Phallic Crusader's picture

gasp!  you're going to be red arrowed back to the stone age for saying that here!

I don't really agree - but I do think we need to do something.  Open to hear free market solutions and all, but I do think basic health care is best viewed as a "right" - that really shouldn't be controversial, it i made such on the liber side because of a reflexive rejection of anything that might involve government or taxes or wealth.

 

Basics like health care and education....  arguably food... it' not that government "should" provide it, its that you can't have a strong healthy nation state (still operating in that world, anarchists...) with a large part of the population sick, stupid, and hungry. 

If the free market could deal with it, that's ideal, but if it can't or won't, and the alternative is doing nothing at all, or using government, I lean toward using government, because while I like a lot of libertarian thinking, I also don't want a country where poor and sick people are left to die on a hospital doorstep because some asshole thinks paying slightly more in taxes is an unconscionable burden for saving human life.

 

junk away - pure libertarianism, like any "purist" ideology, careens into nonsense.

crazybob369's picture

Healthcare a "right"? Really? OK, here we go. First of all, WE individually have a responsibility for our own healthcare. It's not up to your doctor, or government, and certainly not up to Obama. Eat better, exercise, meditate and you will probably never need to see a doctor in your life. When and if you do, you should then be able to shop for doctor's services just like you do for anything else. For medical catastrophes we should have insurance that works much the same way as car, or home insurance. Unfortunately, when you have a "free" service you tend to abuse it. Hangnail? Off to the doctor; it's free. Sniffles, off to the doctor for some antibiotics; they're free. Can you imagine how much your car insurance would cost if they paid for every oil change, brake job and maintenance service. Yet, that's what we expect from health insurance. It wasn't always this way. It was only sometime in the 40's or 50's when companies started providing health benefits that people started viewing health services as "free", or a "right". Sorry, no such thing as a free lunch. All you have is a misallocation of resources.

FuzzyDunlop21's picture

While I agree with you, it is sort of simplistic. You cant fix this problem simply by being healthy and personally responsible for your own health. It will help, for sure, but accidents happen and you or your child will need medical care. And thats where another problem lies. I had four physical therapy appointments recently, 1.5 hour each. It cost me $2800. Who can afford that? The system is fucked. Im not sure when it happened, but at some point a physical therapist became more expensive than a Manhattan hooker, cocaine included. Patients may think they have a right to healthcare, but doctors think they have a right to money. Im not saying they shouldnt be well paid, but what they are making now vastly exceeds what they would be making if there was a free market system and natural price discovery.

crazybob369's picture

Simplistic perhaps, but it would go a long way to fix the problem. Consider that 35.1% of American adults are considered obese, and 69% (2 of 3) adults are considered overweight. Obesity contributes to a myriad of health problems such as high blood pressure, heart problems, cancer, diabetes, joint problems leading to knee and hip replacements. Anyway, I could go on, but you get the point. It is estimated by the CDC that the annual medical cost of obesity is $150-$200 billion dollars per year.

The Blank Stare's picture

Obesity is a problem, but what about the guy or gal who followed your way then lost his job, house, and got cancer?

I think the obesity shit is overused to avoid the most serious issue(s), job lose, banker bail outs, war, and corruption of government, to name a few. However, if Americans are too stupid to demand real change, then fuck'em. Unfortunatly, the US is trying to fuck up the whole world while circling the toilet.

Freddie's picture

Will doctors accept ObamaCare patients bleeding from their anus and eye sockets?    I bet a lot of zio-docs voted for this.  Nice job.

NOTaREALmerican's picture

Re:  The Free Shit Army wasn't affected

Big-MIC will be affected.

knukles's picture

See see see  Todja so, see see see
   -BO

BTW.  AT the grocery store this morning, noticed two front pages on the racks in checkout.  Time Magazine... said something about Putin winning at his dangerous game.  really?  Putin ahead?!?!?!?  Shades of the cold war!  Egads!
The other was The Globe.  That rock solid competitor of the NYT.  Said Obama parties as Mid East implodes, Obama silent on MH downing... Vote, to Impeach Obama.

Shades of changing public opinion!

Golly Gosh!

Hey, I got an idea!  Let's manufacture another crisis to take our attention away for the current 39 crises. 
Grand Idea, Knuks, you oughta be a Predicamential adviser

 

 

BlindMonkey's picture

I was at the grocery store and saw a pic that showed that Putin was an alien grey anal probing Barry. The funniest thing was the smile on Barry's face. An unforgettable image to be sure.

knukles's picture

Honey!  I gotta run to the store... I forgot sumptin'....

felix2's picture

I monitor the tabloids. The headline will be close to what the public is thinking, and used as a hook, but inside they massage the message. The Gutless Obama article seems to be a criticism of Obama, but it is really planting subliminals on Putin as the one person worth going to war over. When Clinton, Bill was running for election, the tabloids ran Clinton Babe covers, with inside articles how all the babes loved him, and were not bothered by the harmless flirting. Those pre emptive damage control worked well for Clinton. Not sure the tabloids can get their readers to demand a war with Russia - which is what Obama wants. He needs to have his chumps demand a war

MidwestJester's picture

I tried to send a facts the other day, but I just kept getting a busy signal...

DoChenRollingBearing's picture

Just guessing here, and I am sure the Putin-lovers will chime in soon enough, but I think that sanctions will hurt us (USA) some, but hurt Russia more.

Of course, Europe has deeper trade ties with Russia, and so may be hurt more than we will.

EDIT:

I am a big believer in free trade.  The above are my views on what I think will happen.  Were I President (ack!  hide the children!) I would impose NO trade restrictions other than advanced technology.

Peak Finance's picture

First time I ever downvoted Dochen

Freddie's picture

These Putin-haters/Obama-lovers sicken me.

Dr. Engali's picture

Don't confuse the loathing of the NWO the and Washington warmongering cretins with Putin lovers. There is a big difference between wanting a little truth in the situation and loving another statist.  Besides, Putin is clearly a thorn in their side, and it's fun to watch them fall over themselves trying to make a boogie man out of him while not upsetting the apple cart. It's just  too bad so many people have to be hurt in the process.

knukles's picture

There we go... a wise doctor....

The Phallic Crusader's picture

Putin has been, for the most part, good for the Russian people, and bad for the neo-Bolsheviks and neocons who seek to steal from and dominate them.

The truly stpid are those who mindlessly parrot US state dept talking points about Russian 'aggression.'  Russia is the Buddha compared to the London-Washington-Tel Aviv Axis. 

 

The AngloZioAmerican Banking, Petrocurrency, and War Profiteering Empire is so much worse and more dangerous and insidious than Putin, to frame Russia or Putin as the problem is to be so brainwashed as to have matters more or less backwards.  This doesn't mean people praising Putin do so in a vacuum - it's in the context of the forces arrayed against him.

 

 

 

Jack Burton's picture

The USA does a minimal trade with the Russian Federation. The EU is ordes of magnitude more involved in mutual trade with Russia. That is why sanctions are so much a part of Washingtons response to losing much of what it's Kiev revolution gained in the opening days. Russian and EU trade and social incorporation is why the US set about to create a crisis in Ukraine. If the current trend of growing trade and social integration had continued for another decade, the Russian markets and exports and cross border social interactions would have made Washington less of the ruler of Europe. It was a matter of vital need that the US find a fictional crisis to turn into a real crisis, via 5 billion dollars of influence buying.

If reality is "Putin Loving", then that is a juvenile way to view the European and Russian relationship and a realistic approach to it. It seems to be a State department like way to label those who see a larger picture outside the bounds of CNN and State department talking points. Perhaps Russia is now looking for a sweet place to invest 5 billion dollars in influence buying and radical element promotion that will bring down some US puppet somewhere.

venturen's picture

They are going to find out who is winning come this winter when Russia shuts off gas to Germany.

ChiangMai's picture

 

Russia may take advantage of Ukraine stealing transiting gas intended for Germany to pressure Germany, but I'd be surprised if it "shuts off gas to Germany." Unlike USA/NATO/EU, Russia respects law and contracts. 

Russia appears to be implementing a plan that may not require it to break energy contracts; rather, in addition to looking east (China, Iran,...) it appears to be targetting EU at perhaps its weakest point — southern Europe agriculture (related: Ukraine - the Bee War ).

In addition to (here, earlier today), Russian Retaliation: Putin Orders Ban On All Food Imports From Sanctioning Countries For A Year...

...all posted today:

Russia to propose Turkey replace Polish, Moldavian fruit imports

Russia can help to organise crude oil supplies from Iran — Energy Ministry

Western Sanctions See Russia Looking to China for Military, Aerospace Components

 

 

angel_of_joy's picture

Germany's gas does not come via Ukraine. Mr. Schroeder took care of it, some years ago...

JuliaS's picture

With US influence disintegrating in the Middle East EU will naturally gravitate towards closer economic ties with Russia as a safe and reliable source of fossil fuel.

Even while Saudi's are just as able and willing to supply petrodollar-priced fuel, the delivery associated risks are growing.

So, to oppose the trend, US is stirring the pot in Europe. The blowback is intentional. It knows the EU will still parrot its declarations and the only response will be hostility between them and the East. Good'ole divide and conquer.

The anti-dollar sentiment is growing regardless. At some point it'll reach the tipping point and then it's game over.

US needs to pull Russia into war before winter time, because when the temperatures drop, EU and Ukraine will have to start making hard decisions.

My hope is that the push for war will fail, much like it did with Iran and Syria. The war drums were banging just as loudly, but opposition prevailed.

To pull Russia into war US wants to pull its army into Ukraine, while Putin is refusing to do as long as the current tactic does its thing. Invasion of Crimea remains the only viable alternative.

I love watching news reels from both sides. US and UK news have a colored map, where they hilight Crimea same color as the Ukraine, and Russia in red. Russian news have Russia and Crimea same color, while Ukraine and EU in a different tone.

So, according to the West, Crimea is still Ukraine, so if invaded, it technically won't be any different as operations in the East. The media will sell it as such, pretending the referendum never took place. Russia will have no option then, but to defend the territory, likely crossing borders in the process. I don't think the channel bridge or an aerial assault will do it on their own.

When's the window of opportunity? The Fall, obviously. Around October, right before the temperatures drop. Else, by spring Kiev itself might start begging for annexation.

kowalli's picture

it's not include shady banking...

felix2's picture
It was a matter of vital need that the US find a fictional crisis to turn into a real crisis, via 5 billion dollars of influence buying.

The US dumped 5 billion in democracy training, preceding the ouster of the Ukrainian leader, according to the Nuland leak. That has never been disputed.

The US seems to have encouraged government overthrow at a time when oil contracts were being brokered. They blame Putin for Flight 17 but do not blame Obama for arming middle east fanatics

Move the Ukraine into the EU, into NATO, into debt with the IMF, and the EU will be tax collecting on the oil, NATO will work to block Russian influence in the middle east, amd the IMF will own the mortgage on Ukrainians' underwear

The ones denouncing Putin, seem to be nation destroying, oil grabbing screamers. That crowd has shafted me and mine royally. Hey Putin, I feel your pain

syntaxterror's picture

Right, because Wall Steet fiat is more valuable than massive supplies of energy.

Quus Ant's picture

Americans do not possess the constitution for sacrifice- in times of war they extoll the virtues of shopping and mindless consumption.

Sanctions may impact the Russian economy more, but the threshold for hurt/pain is something else entirely.

 

All hail, lord Putin! 

crazybob369's picture

Quite right Q. The (current) American public knows nothing about pain and sacrifice. Russians have suffered through a 100 years of hell, and have just recently started to enjoy the benefits off their ample resources. Whether it's because of Putin, or in spite of him, is immaterial. Their life style has improved under his watch which is why he has an 80% approval rate with the Russian people. So, if they have to endure a little more pain to support a leader they perceive as being good to them, do you think that is going to matter much to them after what they have endured? And to say that Russian sanctions will not hurt the U.S. very much is the epitome of stupidity. The world's economies are all intertwined. If Russia cuts off oil/gas to Europe, trust me we're all going to feel it at the pump, food prices, etc.

syntaxterror's picture

Russians have suffered the most civilian war casualties BY FAR of any country in modern history. Americanos? Ummm, not so much.

Savvy's picture

I am a big believer in free trade...

 

It's not free and it's not about trade.

angel_of_joy's picture

You are a big believer in free trade because your business is dependent of free trade. Russia is much more self-sufficient that most people realize. Not only that, but their people are used to be self-reliant. They only need some technology to stay fully competitive. And, I hate to remind you, but the most advanced technology comes nowadays from Asia, not from Europe, and even less from US...

Dr. Engali's picture

Stupid fuckers. Our peace prize president should probably destabalize another nearby neighbor.

Winston Churchill's picture

I think Mexico already has been.

Oh wait... you mean nearby Russia.

I'm not sure Obozo could find Russia on a map unhelped.