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Costs? US Exports To Russia Collapse 34%
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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The Free Shit Army wasn't affected so in Team BHO's view there "was no impact to the US economy".
Putin is playing chess Obama and Vald is 2 moves from CHECK MATE!!! But Obama is too blind to see it coming!
Wining!
You know your government is fucked up when people on this site are cheering for Putin.
Putin vs Obama
http://www.tomatobubble.com/putin_obama.html#.U9vrUm0X30c.email
Now do you understand why people cheer for Putin?
No.
You must be slow...
Cheering? Just casually observing two of the biggest bullshit artists on earth. Nobody is dumb enough to trust either one nowadays.
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....
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.
Yep, the FSA is led by the likes of General JP Morgan and General Goldman at Fort Wall Street.
... 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.
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?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. ;-)
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.
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.
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.
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.
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.
Will doctors accept ObamaCare patients bleeding from their anus and eye sockets? I bet a lot of zio-docs voted for this. Nice job.
George Carlin sums it up.
http://www.youtube.com/watch?v=XdH38k0iUgI
Re: The Free Shit Army wasn't affected
Big-MIC will be affected.
Off topic, but some good, balanced reading in the face of all the bullshit floating around these days:
http://rt.com/op-edge/178392-british-establishment-russian-bogeyman/
http://www.smh.com.au/comment/benjamin-netanyahus-aggressive-stance-tarn...
http://www.dailymail.co.uk/news/article-2717441/I-hung-Mike-Carlton-reve...
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
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.
Honey! I gotta run to the store... I forgot sumptin'....
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
I tried to send a facts the other day, but I just kept getting a busy signal...
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.
First time I ever downvoted Dochen
These Putin-haters/Obama-lovers sicken me.
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.
There we go... a wise doctor....
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.
+1812
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.
They are going to find out who is winning come this winter when Russia shuts off gas to Germany.
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
Germany's gas does not come via Ukraine. Mr. Schroeder took care of it, some years ago...
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.
it's not include shady banking...
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
Right, because Wall Steet fiat is more valuable than massive supplies of energy.
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!
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.
Russians have suffered the most civilian war casualties BY FAR of any country in modern history. Americanos? Ummm, not so much.
I am a big believer in free trade...
It's not free and it's not about trade.
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...
Stupid fuckers. Our peace prize president should probably destabalize another nearby neighbor.
I think Mexico already has been.
Oh wait... you mean nearby Russia.
I'm not sure Obozo could find Russia on a map unhelped.
Well there are a buncha Democrats that given Sarah Palin's comment about seeing Russia from her kitchen window believe that it is right next door....
Excuse me, but have you any Grey Gulagupon?
Might I suggest using USAid organization to destabilize a backwards and (externally) harmless island nation using social media?
anyone know if this contest is large enough to put a dimple - or small dent - in US GDP?
I don't believe anything correlates to GDP "calculations" any longer.
Well, other than defense spending, perhaps.
Banker salaries
And gubamint payroll and welfare 'spenditures
Absolutely not. It is called Seasonal Adjustments. All is fine. Move along now.
US Exports to Russia are $11B, and GDP is $16.2T. So we could lose all exports to Russia and GDP would drop 0.06%, not even a measurable amount. Zero impact.
However, Russia is a very large market for a select few companies. They're in the top five for US microprocessor manufacturers, for example, and the loss of that market would definitely have a measurable impact on their sales.
$11B here, $11B there, and soon we are talking about real money. That $16.2T eCONomy we have also includes $5B in intangibles.
For some reason I can't seem to get my arms around those intangibles.
That should read $500B in intangibles.
A lot of US exports to Russia , as part of turnkey deals, go thru' european countries ,
so your figures are misleading.I doubt anyone knows the true figures.They could be
many magnitudes bigger.
On a serious note, does anybody know the value of the Russian alloy imports? I see that as the single biggest threat to the US from sanctions but I don't have any data to support that hypothesis.
Not to mention most of the US's heavy lift rocket motors.
No wonder they called it the "International" Space Station! #fuckingmorons
Perhaps Russia should also stop its supply of low-enriched uranium fuel to commercial power-plants in America.
Currently, Russia supplies around 30% of the uranium imported by the U.S.; a contract signed in 2009, commencing this year until 2020.
Consequences would be interesting ..
BlindMonkey On a serious note, does anybody know the value of the Russian alloy imports? I see that as the single biggest threat to the US from sanctions but I don't have any data to support that hypothesis.
--
How about the value of losing another strategic partner, Yugoslavia. Yugoslavia exports 50% of their agriculture to Russia which is now banned.
The list has not been drawn up yet. Yugos might not be sanctioned. We wi see
There is no Yugoslavia. It died violently some years ago. There is only Serbia, and I very much doubt that the Russians touched their exports... Blind monkey, indeed.
16+ Trillion GDP for the US is by and large propaganda based on fraudulent accounting. In addition, GDP is not necessarily an accurate reflection of economic strength, because not all components of the GDP are created equal.
Sometimes, to get the right answers, you gotta ask the right questions.
The right question here is: What strategic materials, products and services does Russia supply to the US?
A: Space launches (lost already), Gold to GS+JPM (sarc), and [drumroll please]... Titanium. There might be other be others, if you do your homework.
Russia has a corner on the world market of Titanium. And w/o it, Boeing, Lockheed Martin, and other Aerospace companies are kinda screwed -- as Titanium (stronger than steel, light as Aluminum) is crucial for all advanced planes, rockets, satellites and UAVs/drones.
Even at the height of the original Cold War, the US was able to source Titanium via friendly middle countries and companies, so that its "ultimate destination" in the US was not revealed. This time around, Russia will play the SCM (Supply Chain Management) game much smarter, to prevent a repeat, in spite of best CIA/MIC efforts.
Hope you're right.
You forgot Uranium (~30%). I know everything is going "green" in US now, but those nuclear power reactors still run on Uranium, not algae...
Don't forget, the Tesla Car-be-ques now are using Titanium to shield their matchbox - er - batteries from closer technical scruitiny and Lawsuits.
What percentage of exports go to the Godless Free-Market Loving Commie Libertarian Ruskies?
NOTaREALmerican What percentage of exports go to the Godless Free-Market Loving Commie Libertarian Ruskies?
---
Hardly free market or libertarian. What kind of dope are you?
USA and EU are very funny, or i should say taht they are very stupid. Althought the more stupid is eu, the farmer products from the eu will be banned by the Russian goverment. it will be veru harmful for the european agricultural sector.
What do we actually export that dosen't suck except for CAT equipment?
This is good for Russia, small price increases on the banned goods help build a market and price support for the local produced products.
Banning imported food, after a small adjustment period, makes the economy stronger as they locally produce instead, and using less petro in shipping.
Kicking out Pepsi co makes their population healthier
They already completely banned GMO's
All good for Russia long term.
Hell we need these reforms here, Ban GMO's, less reliance on imported shit foods from China, etc.
And yet people still wonder why we love this Putin guy.
We export Tweeter and FarceBook. And Uber and AirBnB. And Amazon. The pillars of the economy!
Hey that doesn't spell FUBAR
Has Jack Lew learned to write his name like an adult?
He's working with Timmah on that
but I wanna use the red crayon in my left hand
He does... 0000000000, or would Zero to the Tenth Degree be more adult? You be the judge.
No GMO Russia? Boohoo Monsanto.
And no more Sunkist oranges from FL. So Russia buys Jaffa oranges from Israeli settler-farmers (LOL), or oranges from its BRICS partners?
....and for those poor folks in the top 0.1%....Beluga caviar is in very short supply.....it is a dreadful situation...what could ever replace it for those canapes?
I am sure that Boeing really wants Russia to stop sending them the titanium products (30% of their titanium use).
Do you have any data on that? (It is for my own edification and improvement of my shit talking. Not a challenge.)
Or GM, Chrysler and Ford that, with the mining clusterfuk in South Africa, need Russia's platinum and palladium for catalytic convertors. On the other hand, they could simply cannibalize the unsold cars sitting in dealer lots.
I am pretty sure nobody cares what we think here, but it seems fun.
precious
MOSCOW, August 06. /ITAR-TASS/. President Vladimir Putin on Wednesday signed a decree on countermeasures to Western sanctions.
The document entitled “On the Application of Certain Special Economic Measures to Ensure the Security of the Russian Federation” prohibits or restricts, for one year, the import of certain kinds of agricultural products, raw materials and food originating in a country that has imposed economic sanctions against Russian companies and (or) individuals or has joined such sanctions.
So, NSAware via Apple, Intel, MS, Oracle, and Dell, HP, IBM... is "out"? O'bummer!
Better call Acer, to keep the Backdoor open to the PC market (via Taiwan).
Long Ubuntu, Linux...
well that'll learn 'em
There is NO doubt in my mind that if Putin was President of the USSA 100's of thousands would not be dead and the NEOCONS would be in GITMO
Fuck it. As long as there is prime pussy in Russia...no more cold war.
All this other shit is noise.....
www.loveme.com
bitchezzzzzzzzzzzz
Can we vote to ban this guy? ^
Right on Penis Warrior!
Get lost goat.
So... no Coors Light for the Russians? I'm sure they're devastated.
Russia may not be building up troops and hiting out with import ban's but sure as hell the UK is building up from where I'm sitting. Saw the biggest camo plane flying over ASDA wheatley you'd ever seen. It was like a house high above the roof, things around shook. Something you'd have see you believe - wish my camera phone was on at the time.
Titanium is a red herring. 95% of it is used to make brilliant white pigments. Take some of that out of the picture and there is plenty to go around.
Putin is going to continue to sell everything and anything he can to these obsequent fools because his alternate cash flows are not yet on line. It will be warm in Europe this winter
Supposedly the EU sells a lot of cars to Russia. What percent comes out of Americans auto company EU operations?