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Dustin Hamabata
Econ Lessons
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Comments by "Dustin Hamabata" (@dustinhamabata902) on "Russian Economic Racket" video.
Denys Davidov ia a Russian from Sevastapol. When Crimea was annexed in 2014 by Russia, Denys abandoned his property and fled to Ukraine where he is now an avid Youtuber.
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Russia is 2 economies: one being the ministry of defense. The other being the private sector. In the private sector the average wage before the war was around $400 a month. Now due to inflation it is up to about $600 a month. The reason is the other economy the military economy they will pay frontline soldiers $2000 a month and they will pay military factory workers about a $1000 a month. This huge discrepancy between the 2 economies in Russia is creating labor shortages and massive inflation. This is why the Russian Central bank rate is 16%, a rate so high that it does not allow consumer credit.
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