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IMF Claims Sanctions Driving Russia Into A Recession

From an unquestioning Associated Press:

IMF says Russian economy already in recession

By NATALIYA VASILYEVA | April 30, 2014

MOSCOW (AP) — The International Monetary Fund estimates that Russia’s economy has already entered recession as fears of broad economic sanctions weigh on the economy.

Isn’t that hilarious? We are being told that Obama’s meaningless sanctions are causing Russia to go into recession. And our news media believe it.

Of course, they will say anything to try to make it look like Obama has punished Putin for what he has done in Ukraine.

Russia’s economy shrank 0.5 percent in the first quarter of the year compared with the previous three-month period and is expected to continue struggling, said the head of the IMF mission in Russia, Antonio Spilimbergo.

Yes, Russia’s economy isn’t roaring like ours is, at a breakneck 0.1% GDP. When will Obama would lift his sanctions on America?

"If you understand by recession two quarters of negative economic growth then Russia is experiencing recession now," Spilimbergo told reporters…

Funny, but that wasn’t the standard used when the news media and the rest of the Democrat Party officially declared the US to be in a recession under Bush, back in December 2007. After only one quarter of negative growth.

But they had an election to win, so the definition had to be ‘redefined.’

While analysts keep cutting Russia’s growth forecasts, the Kremlin denies it faces recession, insisting that the economy will pick up in the second quarter…

That is the same thing the analysts are saying in our country.

Russia’s economy was already weakening last year, before the crisis in Ukraine blew up. It grew 1.3 percent then, its worst performance in the past 13 years…

Again, 1.3% is still better then the GDP in the US for the last quarter.

This article was posted by Steve Gilbert on Thursday, May 1st, 2014. Comments are currently closed.

One Response to “IMF Claims Sanctions Driving Russia Into A Recession”

  1. mr_bill

    When exactly did nerobama announce his joke sanctions? This supposed economic contraction occurred prior to the sanctions. Those must have been some serious sanctions for their effects to travel backwards in time. /sarc




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