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bighand69
TLDR News EU
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Comments by "bighand69" (@bighands69) on "Why Russia's Economy is on the Brink of Collapse - TLDR News" video.
That is the reason why the US dollar is the most stable and desirable currency in the world. You can never have a guarantee with anything but in terms of general stability it most certainly is the best option.
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Canada has a much more diverse economy than Russia. Canada is not just a oil nation. The Canadian Forestry, Fishing, food and Agriculture is work in excess of $200 billion per year. and is worth more than the Russian Oil industry. Canadian manufacturing industry is worth about $200 billion per year. Canadian wood production industry is worth about $30 billion per year. Any additional Oil and Gas produced and sold in Canada will be icing on top.
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Putin does not have economic weapons but he does have nuclear weapons but he can only play that car so many times.
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Russia has wasted trillions of its own wealth that could have been used to develop its economy. Russia is 17 million square kilometers and has only used a fraction of its capabilities.
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@turningpoint4238 Gold has value because it is desired as a metal just as certain types of wood are valued for their looks same with wool and so on.
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GDP on its own is not a good means of understanding debt. It is like saying you earn 25000 per year and have 25000 debt. It does not tell you very much such as what assets are available or cyclical economic boons that are sitting their for decades and just ready to mature. Two countries might have identical GDP and on paper look the same but in reality are anything but that.
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There are hedge funds that are run by idiots and there are hedge funds run by geniuses.
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Russia is not run by Putin on his own.
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Bonds are separate from currency and in the era of Edison US currency was not a world reserve currency so it meant the US had more national market circulation than they have today. People freak out about QE today without realizing that the US government has a pile of wealth that it can tap into but most of it is over seas in currency to try and stabilize the world.
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Debt to GDP is not a good measure as it does not take into account assets and future returns on investment.
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