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The John Batchelor Show

#Russia: Slow and inevitable shrinking of an economy based on commodities. Michael Bernstam, Hoover Institution

The John Batchelor Show

John Batchelor

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4.52.8K Ratings

🗓️ 20 July 2023

⏱️ 10 minutes

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#Russia: Slow and inevitable shrinking of an economy based on commodities. Michael Bernstam, Hoover Institution

https://www.msn.com/en-us/money/markets/russias-economy-has-gone-from-bad-to-worse-in-a-matter-of-months-heres-where-the-country-is-feeling-pain-the-most/ar-AA1dVGFB


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0:00.0

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0:07.4

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0:12.3

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0:16.8

serious injuries by 24%. That is how we're making journeys in London safer and brighter for everyone.

0:24.8

Such TFL improvement plan to the Mayor of London and TFL every journey matters.

0:35.4

This is CBS Eye on the World with John Bachelor. Here's John Bachelor.

0:42.8

Russia under sanctions, severe sanctions, Russia, the invader of Ukraine,

0:48.2

and back home in Moscow and throughout the former Soviet Union, now the Russian Federation.

0:54.8

The Kremlin is concerned about the consumer, the public, and their support for the war.

1:00.7

We come now to one of the responses from the Kremlin that I hadn't expected.

1:05.6

Headline in the Wall Street Journal. Russia steps up economic war with West,

1:10.6

ceasing assets of big conglomerates. What big conglomerates you ask?

1:15.1

Seasures of Danone and Karlsberg's operations sound a warning shot to Western companies

1:21.0

looking to exit Russia. Danone is yogurt. Karlsberg is beer. I welcome Michael Bernstom

1:28.1

of the Hoover Institution. This was not something I expected this deep into the war,

1:32.9

the second year of the war. Michael, the reports are that the seizure of the yogurt maker,

1:38.4

which makes a lot of money in Russia. Who knew the Russians are big on yogurt? They are.

1:43.2

And a potential seizure of the beer maker are by cronies of Vladimir Putin.

1:49.2

In any event, what does this tell us about the state of the economy that they're

1:53.8

ceasing assets? They're just picking off the good parts or the companies that have been trying

2:00.9

to get out are stock. And so they can't sell their companies. They can't hold on to them.

2:07.8

And so the Russians are picking them up like somebody dropped money on the sidewalk.

...

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