when people talk about global economic powers, Russia often doesn’t come up as much as the U.S., China, or the EU, but there's so much untapped potential in that country. It’s a massive nation with incredible natural resources oil, gas, and minerals that play a significant role in the global economy.
Despite the sanctions and various challenges Russia faces, you can’t ignore its energy exports. Europe, for the longest time, was heavily dependent on Russian gas
let’s not forget, the country has a strong industrial base, particularly in areas like defense, aerospace, and nuclear energy. Russia’s economy might not be as diverse as others, but it's undeniably resilient
Exactly. They have this ability to adapt to economic pressures. Even with the sanctions imposed since 2014, they've managed to shift their focus toward self-sufficiency. Their agriculture sector, for example, has grown tremendously-now they’re the largest exporter of wheat
I think the bigger question is how sustainable that model is. Yes, Russia has vast natural resources, but they’re heavily reliant on those exports. If the global energy market changes or if there's a push for greener alternatives, Russia could find itself struggling. they need to diversify to remain competitive long-term
Correct.. Over 50% of agricultural land has been bought up by these US corporations not to mention real estate and everything else. Ukraine will look back in history and ask themselves a big Why?? Why didn't they just stay neutral. Why did they let themselves become a puppet. Ukraine were getting Russian oil and gas pretty much for free, now they are paying over 4 dollars a gallon or $1.30 a litre while Russia is paying 50 cents a litre or $1.70 a gallon. One of many things they were getting cheap from Russia.
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes : Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse . Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
BRICSophiles are the Enemies of The United States and sooner rather than later will be dealt with by our all-mighty, invincible American heroes : Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse . Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
Europe, you can count on America. Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes : Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse . Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
BRICS was a catalyst that caused the former Colonies of the G-7 Nations to work with Russia. Opportunity appeared and the "Developing" Nations accepted the good fortune.
Dejan Soskic BRICS unit is exactly what you suggested a commodity exchange basket-free from double transaction medium of USD making it faster easier and cheaper=reason why 159 countries joined out of 193=83 of humanity....and this shift is.monumental to the point that rhe only way to save USD=would be for US to join BRICS and that's why Kissinger and Yellen went to China! Please be updated*
Rorry that guy is totaly wrong russia is really gas station. Why ? If they will not have money from export of carbohydrates their economy will be like some African county .Same as Saudi Arabia Thats a fact
@@michalzajic8602 Russia is a Technological and Commodities powerhouse as well. All they needed was a strong nationalist leadership, which they have in Putin. Russia has become a global leader in BRICS. Only time will tell how they perform, but as far as I can see, future looks very bright for them.
@@amargogi Technological ?russian powerhouse?! LMFAO so tell me what russian technology you use in your household.L?FAO Comodities yes russia is mainly gas station i agree
Thanks. What amazes me is how the top notch economists planning the economic sanctions against Russia could not see what Professor Dejan saw about Russian economic power. Perhaps they believed this nonsense that Russia is a gas station masquerading as a country. I am not sure who these top flight economists were. From Yale, Kiel Institute or LSE? I have heard these names bandied around. There were comments from American and French politicians that the rouble would be rubble or that Russia would be brought to its knees in a matter of weeks. Delusional G7 politicians!
BRICS RESERVES ARE IN GOLD THE BRICS BANK - GOLD BACKED - NO USA DOLLARS USED. GLOBLE SOUTH NOT USIN USA DOLLARS & TRADING BASICALLY WIH EACH OTHER. YUAN WORTH MORE THAN USA DOLLAR. CHINA HAS STOPPED TRADE WITH USA FOR CORN- BOUGHT 600 TONS OF CORN FROM BRAZIL.DOLLARS WILL STAY IN NATO OR GLOBLE NORTH. USA, EUROPE, CANADA. NO WHERE ELSE. THOSE INVOLVED IN " NO DOLLARS" IS THE GLOBLE SOUTH NON WHITE COUNTRIES - NOT AN INTERESTED IN TRADE WITH GLOBLE NORTH
Brics is not interested in trading with Th Globle North .usa, Canada & Europe! The globle north is very upset with the rapid growth of BRICS. IT'S WELL ORGANIZED & FUNCTIONING. NO IMF, SWIFT OR WORLD BANK. BRICS HAS IT'S OWN.
@@MeTjube natural ressources are needed for everything, whatever you want to make you need it. look at saudi arabia, if natural ressources are "middle ages thing" then why is dubai so rich... its all oil money
@@pete531 Russia got factories and production technology during second World war from US and stole Patents from V4 countries. The russians are not capable of having normal economy. Natural ressources are not a product of people.
This economist has given, beyond any reasonable doubt, the best explanation I have seen so far of the failure of American and European sanctions against Russia. There is no need to add anything to what he said, except perhaps one curious fact. The main indicator on which Europeans base their assessment of the size of their economies and their importance in comparison to Russia is not economic and data-based, but metaphysical and based on prejudices. The pride and superiority complex of Europeans, cleverly exploited by the US to hurt Russia, has caused immense damage to Europe. And now the Europeans, trapped in a powerful cognitive and emotional trap, can do nothing but march towards a world war that can only result in total destruction because of the use of nuclear weapons by NATO and/or Russia. This terrible scenario was fueled by the new NATO boss, who made it very clear that the Europeans prefer extermination in a nuclear war to the viable option of putting aside their pride and superiority complex before sitting down to negotiate the peace treaty that will put an end to a militarily lost and politically useless war.
europeans are caught up on nothing, we are occupied nations without proper sovereignty or do you think we blow up the pipe, or that the pipe is the only thing this creatures are destroying in EU, Russia Knows this and proper EU leaders Know this, we will not be stage for ww3, we prefer to lay low.
This anti Russia syndrome seems not to make much sense. After all Russia is most an European country and has most of the natural resources that Europeans needs.
Resources that the USSR used were for the housing and Feeding of the Citizens. Resources from domestic sources were used up by US Investors, until they could discover no more profits. Russia still has valuable resources that the G-7 Guys need.
Russia Is not global reserve currency emitter as America. So it can't win against USA in race of corrupting and bribing European politicians for betraying for money the wealth and interests of their country...But BRICS luckily are working on it ...
That's wy they are using ukraine to undermine the Russian federation. The European and American oligarchs want to steal the recourses of Ukraine and Russia by creating a proxi war. Just like Whit irak, they already made a deal and already sold those recourses to weatern oligarch behind the sene.
Amazing insight. The WEST has always been 'very good' at Propaganda & we're grateful for broadcasts like Nutrality Studies. Thank you Pascal & The Team. ❤
The West is so good at propaganda that they deluded themselves with the assistance of a criminal fraudster, Zelenskyy! The die is set, panics in the West offers little solace. There is only spreading dread.
@@keto0303 to apease muslims. More or less. Its a game they play every now and then. Its still controled by usa cia mi5 mossad etc. And there are new players in town too.
@@cA-8chno. No. Hegemony. Youess-youkay gang (“the wild beast”and the “10 horns” -- vassals )DO NOT tolerate competition. And for decades have been itching to destroy Russia, cut up to pieces, rape pillage an estimated 74 plus minus trillion resources. That’s what they want to do with China too. They told Japan to “curb it”, easily maneuvered Germany to deindustrialise and impoverish. Crap propagaga using other entities - Muslim etc sound thzschionist. The truth they’re not the Revelation’s Wild Beast = killer, predator, monster === for nothing .
As Bulgarian and part of EU I really enjoy seeing the rational sober polices our Serbian neighbors take. EU bureaucracy and the nascent euro-fascism introduced by the Brussels institutions are submerging EU and the member states. Instead of economy we only see political correctness and pure stupidity! Like sustaining the war, like excluding Russia as partner like the criminal green deal and so on and so on... Like it or not the future belong to the East and not to the West! Those in Europe who change the polices in time will succeed!
Most of Europe knows History as the War on Middle Classes Tradesman by WEF policies will have the same effect as Pre WW2 Europe Most of it is UN induced stance on colonialism
As another bulgarian I agree with this, with one small exception - our serbian neighbours are slowly getting infected with "euro-atlantism", their leader is visibly pivoting towards the EU. Sure I understand being under pressure on all of their borders is hard, but they're slowly repeating our grave mistake - abandoning Russia and embracing the duplicitous and nefarious West.
@kleopom4846 - bottom line is that probably for the first time in history Russia doesn't need the West We need them more than they need us but we refuse to either admit or understand that, listening to Mr Sostik reeling the stats off was more than impressive
@@richardenders6606 im an American citizen of course we need Russia our government will make you think otherwise but when the government wants their resources you tell the people the opposite of the truth as known as propaganda!!
@@lilacer6841 - broadly since the end of Mongol rule and Peter the Great's modernisation from 1700, and more recently with the fall of communism and the RFs subsequent growth in energy exports and trade with the West Sanctions killed that and resulted in Russia finding new markets so they no longer rely on western exportst but the West srelys on Russian resources, Putin has said he is willing to renew energy exports but presumably at market value which is unlikely to solve Germany's problems
Looks like to be but you got wrong info . Russia has a GDP equal to Italy . USSR was more giant but collapsed anyway as you havo to run the economy or you sink . Russia is in a bad economical conditions then I would be cerful to say a Giant . Have yo ever been in Russia ? If so you wouldnt write this sentence if not go and visit also the suburbs of big cities and you will understand .
@@simonemarsiglianiLmao. I am laughing in Russian. You really have no idea how wrong are you. Of course there are some poor areas, but overall economy is huge. Also Russian economy is several times higher than Italian. Many things are several times cheaper in Russia, so they bring lower numbers into GDP. That's why GDP PPP exists.
@@simonemarsiglianihave you been to Russia? Did you even listened to what this banker is saying? Or your vile Russophobia has you your ears plugged? Or it is your wishful thinking? Either way, open your eyes and ears and learn something.
@@Imaxxd22you’re 💯 % right! Every country has reach and poor areas. In Las Vegas an entertainment capital of the world, where we live, for example, just one block away the Las Vegas Boulevard, you can see a crappy areas with terrible roads, broken down houses, homeless people under every bridge and at almost every traffic light. There are beautiful reach areas with beautiful homes, but if you get to the north part of the city, it’s ugly.
Western economists are like people on a canoe floating in tropical rivers, who give advice to a Russian icebreaker on how to open 10-meter ice floes in the Arctic Ocean. 99.9% of Western economists simply do not understand how huge and irreplaceable Russia is for the world community in its economic opportunities and the advantage of geography and trade routes that Russian weapons are quietly able to protect. Russia is a whole civilization on the Eurasian continent, being its brother is a blessing, being its neighbor is happiness, being its business partner is mutually beneficial honest profit, being its enemy is deadly, but not for Russia. There is nothing worse for the country when Russia forgets about you. Because Russia can do without you, but every country in the world cannot do without Russia.
The European economists understand the economic importance of Russia perfectly. Why do you think Europe has repeatedly been trying to invade Russia for the last 400 years ? Just for the sake of getting lovely Russian girls?
Послушайте, это совершенно замечательный комментарий от вас ! Сравнение России с ледоколом, действительно очень подходит к нынешнему положению дел ! Россия это целый континент, который притворяеться страной !
The US principle strategy to defeat Russia is to outspend it, Russia demolished that strategy because Russia has been playing methodical Chess while the US is playing high risk poker.
Freezing a countries assets and account, money, then stealing 'the interest should be crime, it's wrong and would likely cause distrust in a corrupt system.
It is worse. There are so many raw materials coming out of Russia, that they are sanctioning themselves. Like boycotting the grocery stores, and laughing as the kilos drop off, and victory is in sight.
Funny - meanwhile reality in russia :) - 20% of houses has no inside toilet - apart military -rest of economy is in the decline (war economy) - medical care is crap: 7 years shorter lives vs Western Europe + one of the highest alcohol related desists. - avaition sector is drowning (spare parts problem) - even with lower costs - average level of living is below Bulgaria (the poorest country in the EU) - minium salary: $210/month! - corruption is on Africa level (140th place /180) - created current flood in Russia - but excuse is that "rodents eaten the dam" ;) - infrastructure (apart from big cities) is 20 years behind Europe - commie looking towns+ poor villages - "brain drain" + population in decline (especially Slavic) - economy wise, Russia is becoming China vassal (totally depended on) - reserves are depleted - the war will be funded by higher taxes now - 15% of refineries are damaged by Ukrainian drones+ over 33% of Russian Black Sea fleet already sunk - "fake conservatism" - very high level of divorces/abortion/ child abandonment, etc. (only 8% of church attendees - lower than in Holland!) - "Green Revolution" will damage future profits soon (oil/gas economy) - Putin can't even protect Russsia from Ukraine invasion - fact that you can go to prison for calling war a war (etc.), - is icing on the cake
Today you can go shopping in Russia and find EVERY product made in Russia. Of course imported goods are present on a market, but they are not in any way dominate.
You spoil us Pascal! I've digested a plethora of macroeconomic/markets oriented channels here on UA-cam over the years and the only two that I can still stomach are you and Adam Taggart. You get the very best and spot on facts and ask thought provoking and unbiased questions that help listeners like myself better understand the complex forces driving our world today. More importantly, thank you for recommending Abby Joseph Cohen Services my investment portfolio with her has been quite sustaining
Thanks to Pascal. Following his recommendation, I started researching into Abby Joseph Cohen Services. Thankfully it was a little over a year ago now, I started an lnvestment with Abby's Services and that allowed me to be on much MUCH more stable ground in the face of global financial upheaval. For what it's worth, it made a difference for me and my little family.
@@EnaEnrriquesWell her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, she was able to scale this quickly to $150,000.
Great share! Out of curiosity, I searched Abby Joseph Cohen Services online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.
Serbs had always had a sentimenthal view about Russia, but when they faced the reality many of them came down from the clouds. Russia has enourmous resources of course but it was never in the history able to exploit and benefit from it alone. The real natural ally for Russia is Germany for this reason, and for Germany is Russia. And this is what really hurts british and US interests.
Russia has a unified socuety, us has not. It's european values have dissappeared. My mother's whole family emagrated from Serbia because of wars. I am going back to serbia because of culture snd opportunity. GREAT Guest
I was born in austere circumstances in 1944. I, thank God, was able to grow up, mainly a common worker...blue collar workers we are dubbed. Later, my avid desire to learn, so very strongly, even before I began public school at 5 years old, history and theology, the better literature, great Russian cultural authors, "my" Tchaikovsky, and I, at 80 years old today, continues to sweep me "off my feet," as the old expression goes...all things Russian is great. Re-reading Tolstoy's "Brothers Karamazov, War & Peace, Russian poetry," and my forever rooting for and also weeping re then USSR's Great Patriotic War, 1941-1945, weeping as the finest, wonderful soldiers (w/out weapons at times) hung on to the tanks and would fight to the last breath if necessary, driving Hitler's hordes back into Berlin and to his bunker. (Another brief word here.)
Love your post! Your vitality at 80 is inspiring, while your quest for knowledge and affinity towards great art provide a good example for those coming up. One correction - Brothers Karamazov were written by Fyodor Dostoevsky, not by Tolstoy. All my best!!!
The problem is that Russia is not Tolstoy or Tchaikovsky or Pushkin. Russia is and always has been a brutal empire which enslaves its neighbors and even its own people . Constantly looking to expand . Listen to Russias neighbors. They know who Russia is . The rest have illusions. Until you have been occupied by Russia you have no idea . Listen to Poland, Latvia , Lithuania, Estonia , Romania . Ukraine knows. The problem with Russia in Europe is that it always tries to divide it and dominate it . Ever since it broke from under the mongols it’s been invade invade invade . Most don’t realize that Russia started WW2 with Germany by attacking Poland after signing the Molotov Ribbentrop pact . After WW2 Russia enslaved all of its neighbors. You opinion of Russia is as if we understood USA reading Twain and listening to Elvis .
@Wally-m9y Yes you're right. The world owes the Russian people a mighty bear hug for the incredible sacrifice they made to defeat the German Nazis. 25 million dead! As Churchill said, 'The Russians tore the guts out of the German military machine'.
All GDP is not created equally. Real "stuff" like oil, gas, steel copper, food, clothing etc etc is far more valuable in the final analysis than Ferrari cars, Gucci handbags, Rolex watches, Finance, Marketing etc etc services. Russia has far more of the former than any other Nation which is the root cause of conflict in Ukraine. US wants access to Russian resources for nothing as their own has run out or very expensive to access. Without cheap Natural Resources, especially energy then the Service economy falls apart.
It's not that their own resources have been running dry, but rather that they always want more and more - the United States of Avarice, legacy of the Perfidious Albion.
Some even includes Drugs and Prostitution to their numbers, some even stretch it as far as including the estimated black economy. A way to mask a lack of growth.
That's either communist or terrorist or whichever bogey word the RBO is promoting. The only system that works is that which extinguishes all life on earth. All other systems have shown to be fatally flawed.
The added synergy of a win win situation, is greater than win+win. Empire rather want to grab more of of a shrinking cake, than cooperate and make it bigger with enough for all.
Very smart guy. I am happy to hear one very independent and smart point of view on what is going on in the world. And I am happy to see Serbia improving economically. No, wonder if guys like Dejan are involved in shaping their thinking. I don't envy the serbs for having smart people like Dejan, but I feel sorry for my countrymen in Macedonia, because the people who govern the country for every important decision have to go to the king, so the King will approve or disapprove. The King is also known as American ambassador in Macedonia. So big thumb up for Mr. SOSKIC , I enjoyed the conversation. Sve najbolje Makedonac
@@xvx3503 Cuj, ja sam 63. I za mene nema razlike izmedju srba I Makedonaca. Ja sam vojni rok sluzio u Senti. U Jugoslaviji zapadni ambasadori su samo jednom bili pozivani u Karadjordgevu na lov. I niko nije spominjao njihovo ime celu godinu. Da popiju rakiju I slivovicu I da se rukuju s Titom. Sada, svi presednici osim Vucica rade ono sto Im americki ambasador dozvoljava da rade. Zato postujem srbe. Jer srbin ne ide na kolena kad mu neko mocniji to kaze.
With merely 4% of the World’s GDP, a CCC officially rated economy and, while the Rouble isn’t a reserve currency? Russia is the lesser of the USSR. The USSR found the lesser against the United States. And, the United States is about half of the West, having the US as its Centre State. The West controls the World’s bond, currency and equities markets to the tune of the equivalent to hundreds of trillions of USDs.
Very interesting and informative guest. Amazing that our 'great' Western leaders didn't receive or act on the information provided by analysts and experts such as your guest. How much pain and misery could and should have been avoided.
I don't think it the US thatbjs doing this stuff. The US also is captured by the same people trying to bring down the EU. It's 1930s all over again history repeat itselfs.
Bluikkso. No it isn't. Russia has been strengthened. America's European vassal have been weakened. The Bretton Woods system has been weakened, perhaps critically. A Russo-Chinese alliance is stronger than the US and its allies.
Speaking about russian economy and available cash for investments. Scott Ritter in his last trip to Russia had talks with different mayors of russian cities very far sometimes outside Moscow. in the vast country. They have budgets for industrial , agricultural and general eceonomic development in their counties which cannot be allocated for the lack of viable projects . So if you have a viable business idea which helps cover local demands in those sites , you will get any help you can dream of to put your business in motion.
Many people in comments are saying that Russia is just an exporter of raw material and can't hi-tech stuff. They have built nuclear power plants in my country (India). India and Russia jointly produce Rifles and fighter jets. Also the Brahmos missile. If that stuff is not high quality I don't know what is. Most people in west only think high quality stuff as Iphones and AI bots. The things of actual importance is what Russia focuses on.
Wow 👏🏾. Thank you very much for such an interesting and informative interview about Russia 🇷🇺. Both of you are very knowledgeable individuals. With love 💘 and respect from Mozambique 🇲🇿.
The big Mac index is a fun way to look at PPP. When I heard Russia referedto as Nigeria with snow, Iws shocked by the sheer ignorance. The US relies on Russia for nuclear fuel and heavy crude oil.
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes : Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse . Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
@@danielhutchinson6604 Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes : Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse . Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
The USA doesn't rely on Russia for any of those things. Russia sells it cheaply and the USA wanted globalization and partnership. Now Russia decides to invade it's neighbors the USA and it's partners decide to not deal with Russia and extract itself from Russian goods. It can and will be done given time. USA does not need Russia for anything, but Russia desperately needs everything technological from the West.
If Russia is like "Nigeria with nuclear weapons". Then the EU is like Nigeria without nuclear weapons. And without oil. The French won't use their nukes until an enemy crosses the river Rhein.
@@paulbadics3500 historically there were 3 largest oil producers with more or less equal capacities, constantly changing places among the top 3: USA, Russia, Saudi Arabia. No idea for the natural gas though, need to Google it. But considering shale gas, yes, US could take the 1st place. However it's harder to transport and it carries twice less energy in a unit of volume.
Pascal , Excellent Interview . Your studies with any bias it is a MUST to any analysis . Many thanks to your efforts . Dr. Dejan brings a broad vision from whom see all the forest from above .
Es maravilloso escuchar alguien como DEJAN SOSKIC con tanto conocimiento en el tema economico-bancario. FELICITACIONES! Saludos desde Medellin-Colombia.
This is a brilliant and highly informative episode. Thanks so much Pascal, this type of information needs to be spread far and wide as the ordinary people needs this brother
EXCELLENT Host. SUPERB Guest. Am enriched by this totally unbiased, highly informative exchange. THANK YOU , Pascal 🙏 Looking forward to more ot the same. 👍👍👍👍👍👍👍👍👍
This is the best economist in the world. USA and Europe are committing economic suicide to sacrifice their economic wellbeing in exchange for supporting Ukrainian war. Thank you Professor for bringing light about the world economics.
A great interview, thanks! Russian economy is really solid. Every year when I come there tons of new things are build, a completely different dynamic to Europe, where I live.
Gospodine Shoshkicu, Mislim da ste porijeklom Vasojevic kao i ja... First class analyse and insight! Very proud of such an expert ispod Komova, Srdan pozdrav, od Babovica, Kopenhagen!
It may also be a shock to you that the gdp in the united states is calculated taking into account all mortgage transactions. in Russia, home ownership is 89%, this huge part of GDP falls to Russia, only because Russians have their own housing and they don’t owe anyone 🤷♂️
@@petersinclair3997 a mortgage is a loan. The more people with a mortgage, the more debt. Someone's loan is someone's asset. in this case, a bank that issues money on the condition that mortgage payments will be received. If you don’t believe me, you can read for yourself what GDP is made up of - produced goods, services, loans.
Expelling Russian economy from Europe is a sure way for Europe to lose its ever shrinking clout even faster. In reality it's actually impossible to totally expel the russian economy from Europe. Russia is a world power and its economy will forever affect, influence and show up in all the economies of the world.
Addition to the Mr. Soskich's well established explanation of dynamics of government led in Russian economy base, Russians are good and creative engineers too and they have the spirit of manufacturing before the profit making which enables the military production more efficient then the collective West . When discussing business with Russians, mostly topic is around the viability of engineering or technicality before the profit and share mechanism.
Well, if I keep my assets in bank savings and various investments (portfolio) does it automatically mean I "don't need the money urgently"? Whether the need is urgent or not should be of no interest to ANYBODY but the rightful owner BTW.
@@axelscharf2415please stop embarassing yourself. The International space station that the whole world uses was built by Russians. Its orbit is maintained by Russia. Greatest weapons in history are made by Russia. What toaster are you talking about? 😂😂😂😂
Outstanding commentary. To summarise: low chance of development of a new reserve currency in the near term; but rapid development of mechanisms of settlement in ways that avoid the US dollar.
Prof. Šoškić explained what European leaders decisions on our involvement in Ukranian war mean to exsistencial situation of their economy, reputation and life and standard of life for their people. In serbian he would say:" malo su se zajebali" You didn't have to be a professor of economy to get that, just to look at the map, and know from where the basic resources come. The great sanctiones against Russia were the greatest sanctiones that we imposed against and on ourselves. Not to change our minds, North stream pipeline explosion was commited by who and why... We don't talk about that. If our politicians are not complete idiots, notorious delusional gamblers and natural backstabbers, they are totally corrupt by USA and in the result of their decisions and actions - treasonous. Let be clear: EU got, from their leaders and allies, the greatest sanctiones on EU ever, and the gratest friendly terrorist attack on vital energy line. How that happened in those few months that we were shouting "Slava Ukraine" after too many of us went back to that map to see where is that Ukraine anyway?
Very interesting information and it rings very true. Just shows how much "rubbish news" the west puts out regarding Russia. He also basically shows how great Europe "could be" if they got their show together and disregarded totally any and all interferance coming from the US. Top guest Pascal, stay safe and keep it coming.
when people talk about global economic powers, Russia often doesn’t come up as much as the U.S., China, or the EU, but there's so much untapped potential in that country. It’s a massive nation with incredible natural resources oil, gas, and minerals that play a significant role in the global economy.
Despite the sanctions and various challenges Russia faces, you can’t ignore its energy exports. Europe, for the longest time, was heavily dependent on Russian gas
let’s not forget, the country has a strong industrial base, particularly in areas like defense, aerospace, and nuclear energy. Russia’s economy might not be as diverse as others, but it's undeniably resilient
Exactly. They have this ability to adapt to economic pressures. Even with the sanctions imposed since 2014, they've managed to shift their focus toward self-sufficiency. Their agriculture sector, for example, has grown tremendously-now they’re the largest exporter of wheat
The potential for them to continue evolving is there if they can pivot and modernize sectors outside of oil and gas.
I think the bigger question is how sustainable that model is. Yes, Russia has vast natural resources, but they’re heavily reliant on those exports. If the global energy market changes or if there's a push for greener alternatives, Russia could find itself struggling. they need to diversify to remain competitive long-term
The stolen Russian assets aren't going to Ukraine, they are going to the US corporations that own most of Ukraine now.
The Russian assets are frozen. Only the interests are being used. Which is still stealing.
Correct.. Over 50% of agricultural land has been bought up by these US corporations not to mention real estate and everything else. Ukraine will look back in history and ask themselves a big Why?? Why didn't they just stay neutral. Why did they let themselves become a puppet. Ukraine were getting Russian oil and gas pretty much for free, now they are paying over 4 dollars a gallon or $1.30 a litre while Russia is paying 50 cents a litre or $1.70 a gallon. One of many things they were getting cheap from Russia.
Temporarily stolen - they will still have to be returned, and with high interest.
They will not steal them Allen yallen objected the idea that it affects the credibility of world financial systems.
@@alexgainsborough4921Russia will have to pay to Ukraine huge sums
Europe will do exactly as America tells it, for now, many European countries will be begging to join BRICS later on.
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes :
Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse .
Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
I imagine you're closer to the truth than many in the west.
BRICSophiles are the Enemies of The United States and sooner rather than later will be dealt with by our all-mighty, invincible American heroes :
Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse .
Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
Germany is still an Occupied Nation.
Europe, you can count on America.
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes :
Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse .
Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
Germany are paying the price of stopping trading with Russia and China Germanys car industry has virtually collapsed
The German political class has become an absolute catastrophe!
BRICS was a catalyst that caused the former Colonies of the G-7 Nations to work with Russia.
Opportunity appeared and the "Developing" Nations accepted the good fortune.
And ruusia is also collapsed they makes new cars from the second world ware again 😂😂
@@vrijsenwouter Yes, and fight with shovels and washing machines.
@@luismariagomezdearanda5319 Crying and crying poor russian baby 🤡
A very knowledgeable guest. Excellent Interview.
Dejan Soskic BRICS unit is exactly what you suggested a commodity exchange basket-free from double transaction medium of USD making it faster easier and cheaper=reason why 159 countries joined out of 193=83 of humanity....and this shift is.monumental to the point that rhe only way to save USD=would be for US to join BRICS and that's why Kissinger and Yellen went to China!
Please be updated*
No he's not it's kremlin propaganda you fool
Pascal, Thanks for interviewing Prof. Dejan Šoškić. The best economic discussion I have listened to in a long time.
Please, watch "Europa the last battle" 12h documentary. In order to understand everything. Cheers!
@@amargogi Go listen to Jim Rickards then. A humble advice.
Rorry that guy is totaly wrong russia is really gas station.
Why ?
If they will not have money from export of carbohydrates their economy will be like some African county .Same as Saudi Arabia
Thats a fact
@@michalzajic8602 Russia is a Technological and Commodities powerhouse as well. All they needed was a strong nationalist leadership, which they have in Putin. Russia has become a global leader in BRICS. Only time will tell how they perform, but as far as I can see, future looks very bright for them.
@@amargogi Technological ?russian powerhouse?!
LMFAO so tell me what russian technology you use in your household.L?FAO
Comodities yes russia is mainly gas station i agree
Absolutely wonderful guest. Another insightful person
A marvellous guest. This was a superb programme. Thank you Pascal.
Indeed.
Completely agree
Thanks.
What amazes me is how the top notch economists planning the economic sanctions against Russia could not see what Professor Dejan saw about Russian economic power. Perhaps they believed this nonsense that Russia is a gas station masquerading as a country.
I am not sure who these top flight economists were. From Yale, Kiel Institute or LSE? I have heard these names bandied around.
There were comments from American and French politicians that the rouble would be rubble or that Russia would be brought to its knees in a matter of weeks.
Delusional G7 politicians!
BRICS RESERVES ARE IN GOLD THE BRICS BANK - GOLD BACKED - NO USA DOLLARS USED. GLOBLE SOUTH NOT USIN USA DOLLARS & TRADING BASICALLY WIH EACH OTHER. YUAN WORTH MORE THAN USA DOLLAR. CHINA HAS STOPPED TRADE WITH USA FOR CORN- BOUGHT 600 TONS OF CORN FROM BRAZIL.DOLLARS WILL STAY IN NATO OR GLOBLE NORTH.
USA, EUROPE, CANADA. NO WHERE ELSE. THOSE INVOLVED IN " NO DOLLARS" IS THE GLOBLE SOUTH NON WHITE COUNTRIES - NOT AN INTERESTED IN TRADE WITH GLOBLE NORTH
Brics is not interested in trading with Th Globle North .usa, Canada & Europe! The globle north is very upset with the rapid growth of BRICS. IT'S WELL ORGANIZED & FUNCTIONING. NO IMF, SWIFT OR WORLD BANK. BRICS HAS IT'S OWN.
With a list of assets like that, no wonder the US wanted to get their hands on Russia!
Perfectly said !
Exploiting natural ressources is middle age. Russia is stuck in middle age in every piece of their society, including human rights and economy.
Making US an enemy is primitive, the communists did for 50 years. They are bancrupt history in the meantime.
@@MeTjube natural ressources are needed for everything, whatever you want to make you need it. look at saudi arabia, if natural ressources are "middle ages thing" then why is dubai so rich... its all oil money
@@pete531 Russia got factories and production technology during second World war from US and stole Patents from V4 countries. The russians are not capable of having normal economy. Natural ressources are not a product of people.
This economist has given, beyond any reasonable doubt, the best explanation I have seen so far of the failure of American and European sanctions against Russia. There is no need to add anything to what he said, except perhaps one curious fact. The main indicator on which Europeans base their assessment of the size of their economies and their importance in comparison to Russia is not economic and data-based, but metaphysical and based on prejudices. The pride and superiority complex of Europeans, cleverly exploited by the US to hurt Russia, has caused immense damage to Europe. And now the Europeans, trapped in a powerful cognitive and emotional trap, can do nothing but march towards a world war that can only result in total destruction because of the use of nuclear weapons by NATO and/or Russia. This terrible scenario was fueled by the new NATO boss, who made it very clear that the Europeans prefer extermination in a nuclear war to the viable option of putting aside their pride and superiority complex before sitting down to negotiate the peace treaty that will put an end to a militarily lost and politically useless war.
How on earth did you just get so much truth past the censorship empire?
@@paulchamberlain7942 perhaps they are sleeping?
Don’t forget bankers always plays both sides of the fence to ensure they always win.
@@paulchamberlain7942 😂🤣😅
europeans are caught up on nothing, we are occupied nations without proper sovereignty or do you think we blow up the pipe, or that the pipe is the only thing this creatures are destroying in EU, Russia Knows this and proper EU leaders Know this, we will not be stage for ww3, we prefer to lay low.
This anti Russia syndrome seems not to make much sense.
After all Russia is most an European country and has most of the natural resources that Europeans needs.
Russia's European part is the largest land mass on the continent.
Resources that the USSR used were for the housing and Feeding of the Citizens.
Resources from domestic sources were used up by US Investors,
until they could discover no more profits.
Russia still has valuable resources that the G-7 Guys need.
Russia Is not global reserve currency emitter as America. So it can't win against USA in race of corrupting and bribing European politicians for betraying for money the wealth and interests of their country...But BRICS luckily are working on it ...
That's wy they are using ukraine to undermine the Russian federation. The European and American oligarchs want to steal the recourses of Ukraine and Russia by creating a proxi war.
Just like Whit irak, they already made a deal and already sold those recourses to weatern oligarch behind the sene.
adelinosantos5211 Yes you hit the nail on the head. The Europeans do want the Russian resources just don’t want to pay for them
Amazing insight. The WEST has always been 'very good' at Propaganda & we're grateful for broadcasts like Nutrality Studies. Thank you Pascal & The Team. ❤
The West is so good at propaganda that they deluded themselves with the assistance of a criminal fraudster, Zelenskyy!
The die is set, panics in the West offers little solace. There is only spreading dread.
Excellent Guest..Lot of insights from different angle. Thanks Pascal
Not really. We know why Russia was expelled.
For islamic caliphate.
Sadly for you, it wont happen.
@@cA-8ch ?
@@keto0303 to apease muslims. More or less. Its a game they play every now and then. Its still controled by usa cia mi5 mossad etc.
And there are new players in town too.
@@cA-8chno. No. Hegemony. Youess-youkay gang (“the wild beast”and the “10 horns” -- vassals )DO NOT tolerate competition. And for decades have been itching to destroy Russia, cut up to pieces, rape pillage an estimated 74 plus minus trillion resources. That’s what they want to do with China too. They told Japan to “curb it”, easily maneuvered Germany to deindustrialise and impoverish. Crap propagaga using other entities - Muslim etc sound thzschionist. The truth they’re not the Revelation’s Wild Beast = killer, predator, monster === for nothing .
As Bulgarian and part of EU I really enjoy seeing the rational sober polices our Serbian neighbors take. EU bureaucracy and the nascent euro-fascism introduced by the Brussels institutions are submerging EU and the member states. Instead of economy we only see political correctness and pure stupidity! Like sustaining the war, like excluding Russia as partner like the criminal green deal and so on and so on...
Like it or not the future belong to the East and not to the West! Those in Europe who change the polices in time will succeed!
👍👍👍
I doubt the future belongs to the Russians!
Most of Europe knows History as the War on Middle Classes Tradesman by WEF policies will have the same effect as Pre WW2 Europe Most of it is UN induced stance on colonialism
As another bulgarian I agree with this, with one small exception - our serbian neighbours are slowly getting infected with "euro-atlantism", their leader is visibly pivoting towards the EU. Sure I understand being under pressure on all of their borders is hard, but they're slowly repeating our grave mistake - abandoning Russia and embracing the duplicitous and nefarious West.
@@Fullgrym As that neighbor, I absolutely agree.
Thank you so much for having Mr Soskic on your show , I wish the conversation would have been longer he is an amazing guest. Thank you both.
Very intelligent pragmatic man that the US and western central banks need. Thanks for explaining the independence of the Russian economy
@kleopom4846 - bottom line is that probably for the first time in history Russia doesn't need the West
We need them more than they need us but we refuse to either admit or understand that, listening to Mr Sostik reeling the stats off was more than impressive
US?
You have nothing to do with Europe. Stick to your own territory.
@@richardenders6606 im an American citizen of course we need Russia our government will make you think otherwise but when the government wants their resources you tell the people the opposite of the truth as known as propaganda!!
@@richardenders6606when has Russia needed the west?
@@lilacer6841 - broadly since the end of Mongol rule and Peter the Great's modernisation from 1700, and more recently with the fall of communism and the RFs subsequent growth in energy exports and trade with the West
Sanctions killed that and resulted in Russia finding new markets so they no longer rely on western exportst but the West srelys on Russian resources, Putin has said he is willing to renew energy exports but presumably at market value which is unlikely to solve Germany's problems
This is educative for real, especially when people don't even know what's the difference between GDP and PPP.
Ppp is a different way to measure gdp, what you're referring to is the difference between ppp gdp and nominal gdp.
@@rodiculous9464 we refer much PPP in economics, and GDP in business. This reflects on production and buying power.
@@7Asunta3idk how things work in your country but I am talking about textbook definitions
@@rodiculous9464 what do you mean by "ppp gdp and nominal gdp?
@@7Asunta3he explains this around the 14 minute mark, did you watch the video? 😂 they are 2 different ways of measuring gdp
Russia is an economic GIANT. Watch this space.
Looks like to be but you got wrong info . Russia has a GDP equal to Italy . USSR was more giant but collapsed anyway as you havo to run the economy or you sink . Russia is in a bad economical conditions then I would be cerful to say a Giant . Have yo ever been in Russia ? If so you wouldnt write this sentence if not go and visit also the suburbs of big cities and you will understand .
@@simonemarsiglianiLmao. I am laughing in Russian. You really have no idea how wrong are you. Of course there are some poor areas, but overall economy is huge. Also Russian economy is several times higher than Italian. Many things are several times cheaper in Russia, so they bring lower numbers into GDP. That's why GDP PPP exists.
@@simonemarsiglianihave you been to Russia? Did you even listened to what this banker is saying? Or your vile Russophobia has you your ears plugged? Or it is your wishful thinking? Either way, open your eyes and ears and learn something.
@@Imaxxd22you’re 💯 % right! Every country has reach and poor areas. In Las Vegas an entertainment capital of the world, where we live, for example, just one block away the Las Vegas Boulevard, you can see a crappy areas with terrible roads, broken down houses, homeless people under every bridge and at almost every traffic light. There are beautiful reach areas with beautiful homes, but if you get to the north part of the city, it’s ugly.
@@Imaxxd22well said.✌️🇷🇺🇷🇺🇷🇺🇷🇺👍
Western economists are like people on a canoe floating in tropical rivers, who give advice to a Russian icebreaker on how to open 10-meter ice floes in the Arctic Ocean. 99.9% of Western economists simply do not understand how huge and irreplaceable Russia is for the world community in its economic opportunities and the advantage of geography and trade routes that Russian weapons are quietly able to protect. Russia is a whole civilization on the Eurasian continent, being its brother is a blessing, being its neighbor is happiness, being its business partner is mutually beneficial honest profit, being its enemy is deadly, but not for Russia. There is nothing worse for the country when Russia forgets about you. Because Russia can do without you, but every country in the world cannot do without Russia.
The European economists understand the economic importance of Russia perfectly. Why do you think Europe has repeatedly been trying to invade Russia for the last 400 years ? Just for the sake of getting lovely Russian girls?
It is becoming painfully apparent that Economic warfare on Russia has been lost.
Россия , это континет с одиннадцатью часовыми поясами, притворяющийся страной !
thank you very much. все славяне братья и сёстры
Послушайте, это совершенно замечательный комментарий от вас ! Сравнение России с ледоколом, действительно очень подходит к нынешнему положению дел ! Россия это целый континент, который притворяеться страной !
The US principle strategy to defeat Russia is to outspend it, Russia demolished that strategy because Russia has been playing methodical Chess while the US is playing high risk poker.
Here's to hoping that BRICS works for the pro-multipolar progressive nations! Glory to Russia! Love from South Africa.
Russia is sinking men you didnt catch well the situation .
Glory to Russia? Are you a Russian bot, nobody speaks like that in the world 😅
@@simonemarsiglianiSimon. I think that you are taking about Izrael
@@simonemarsigliani Watch the video before you comment, or do you have a cognitive impairment ?
😂😂😂
An outstanding guest. I too was astonished by the fact that Russian debt was only 17% of a GDP
Some people say six percent of a GDP.
Self sufficiency, inherited from the Soviet way of doing things
😂
Oil, baby. Oil. And gas
Now it's 14.6% by March 2024
Freezing a countries assets and account, money, then stealing 'the interest should be crime, it's wrong and would likely cause distrust in a corrupt system.
It is a crime.
Welcome to rules based international order.
West freedom of crimes democratsy
In wich case it is an even worse crime to steal territory from another country with military force. As Russia is doing.
Yeah, they are stealing the money of the Russian people not Putin.
Sanctioning Russia is like sanctioning Saudi Arabia(oil),Iran(gas)...etc all at the same time
If the BRUCS Nations choose to trade with each other,
it is not a crime.
Russia has resources the US needs for industrial production.
@@danielhutchinson6604 us cant have it. Even if they sent Edward Snowden there.
Sorry not sorry.
Muslims can go to USA and Canada.
It is worse. There are so many raw materials coming out of Russia, that they are sanctioning themselves. Like boycotting the grocery stores, and laughing as the kilos drop off, and victory is in sight.
Funny - meanwhile reality in russia :)
- 20% of houses has no inside toilet
- apart military -rest of economy is in the decline (war economy)
- medical care is crap: 7 years shorter lives vs Western Europe + one of the highest alcohol related desists.
- avaition sector is drowning (spare parts problem)
- even with lower costs - average level of living is below Bulgaria (the poorest country in the EU) - minium salary: $210/month!
- corruption is on Africa level (140th place /180) - created current flood in Russia - but excuse is that "rodents eaten the dam" ;)
- infrastructure (apart from big cities) is 20 years behind Europe - commie looking towns+ poor villages
- "brain drain" + population in decline (especially Slavic)
- economy wise, Russia is becoming China vassal (totally depended on)
- reserves are depleted - the war will be funded by higher taxes now
- 15% of refineries are damaged by Ukrainian drones+ over 33% of Russian Black Sea fleet already sunk
- "fake conservatism" - very high level of divorces/abortion/ child abandonment, etc. (only 8% of church attendees - lower than in Holland!)
- "Green Revolution" will damage future profits soon (oil/gas economy)
- Putin can't even protect Russsia from Ukraine invasion
- fact that you can go to prison for calling war a war (etc.), - is icing on the cake
@@jacekboczarski6698 Poles hating on Russia really is a mental health condition
Today you can go shopping in Russia and find EVERY product made in Russia. Of course imported goods are present on a market, but they are not in any way dominate.
Which is actually good for Russian economy
This is not true
@@arty5876 , what is not true?
You spoil us Pascal! I've digested a plethora of macroeconomic/markets oriented channels here on UA-cam over the years and the only two that I can still stomach are you and Adam Taggart. You get the very best and spot on facts and ask thought provoking and unbiased questions that help listeners like myself better understand the complex forces driving our world today. More importantly, thank you for recommending Abby Joseph Cohen Services my investment portfolio with her has been quite sustaining
Thanks to Pascal. Following his recommendation, I started researching into Abby Joseph Cohen Services. Thankfully it was a little over a year ago now, I started an lnvestment with Abby's Services and that allowed me to be on much MUCH more stable ground in the face of global financial upheaval. For what it's worth, it made a difference for me and my little family.
How can i reach this Abby Joseph Cohen, if you don't mind me asking? I've known her by her reputation at Goldman Sachs
@@EnaEnrriquesWell her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, she was able to scale this quickly to $150,000.
Great share! Out of curiosity, I searched Abby Joseph Cohen Services online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.
Serbs had always had a sentimenthal view about Russia, but when they faced the reality many of them came down from the clouds. Russia has enourmous resources of course but it was never in the history able to exploit and benefit from it alone. The real natural ally for Russia is Germany for this reason, and for Germany is Russia. And this is what really hurts british and US interests.
Glenn Diesen and Rachel Blevens got their UA-cam channels deleated. I am glad to see you are still around.
(((UA-cam))) still thinks fires brought down building 7
A pleasure to listen to such an educated person.
Russia has a unified socuety, us has not. It's european values have dissappeared. My mother's whole family emagrated from Serbia because of wars. I am going back to serbia because of culture snd opportunity. GREAT Guest
Very good idea. Pozdrav iz Slovenije.
Good luck brate
I was born in austere circumstances in 1944. I, thank God, was able to grow up, mainly a common worker...blue collar workers we are dubbed. Later, my avid desire to learn, so very strongly, even before I began public school at 5 years old, history and theology, the better literature, great Russian cultural authors, "my" Tchaikovsky, and I, at 80 years old today, continues to sweep me "off my feet," as the old expression goes...all things Russian is great. Re-reading Tolstoy's "Brothers Karamazov, War & Peace, Russian poetry," and my forever rooting for and also weeping re then USSR's Great Patriotic War, 1941-1945, weeping as the finest, wonderful soldiers (w/out weapons at times) hung on to the tanks and would fight to the last breath if necessary, driving Hitler's hordes back into Berlin and to his bunker. (Another brief word here.)
Love your post! Your vitality at 80 is inspiring, while your quest for knowledge and affinity towards great art provide a good example for those coming up. One correction - Brothers Karamazov were written by Fyodor Dostoevsky, not by Tolstoy. All my best!!!
The problem is that Russia is not Tolstoy or Tchaikovsky or Pushkin. Russia is and always has been a brutal empire which enslaves its neighbors and even its own people . Constantly looking to expand . Listen to Russias neighbors. They know who Russia is . The rest have illusions. Until you have been occupied by Russia you have no idea . Listen to Poland, Latvia , Lithuania, Estonia , Romania . Ukraine knows. The problem with Russia in Europe is that it always tries to divide it and dominate it . Ever since it broke from under the mongols it’s been invade invade invade .
Most don’t realize that Russia started WW2 with Germany by attacking Poland after signing the Molotov Ribbentrop pact . After WW2 Russia enslaved all of its neighbors. You opinion of Russia is as if we understood USA reading Twain and listening to Elvis .
So what
I hope you re-read BROTHERS KARAMAZOV: THE BOOK IS SPIRITUAL:
@Wally-m9y Yes you're right. The world owes the Russian people a mighty bear hug for the incredible sacrifice they made to defeat the German Nazis. 25 million dead! As Churchill said, 'The Russians tore the guts out of the German military machine'.
Excellent talk, very educational. Thank you🙏
All GDP is not created equally. Real "stuff" like oil, gas, steel copper, food, clothing etc etc is far more valuable in the final analysis than Ferrari cars, Gucci handbags, Rolex watches, Finance, Marketing etc etc services. Russia has far more of the former than any other Nation which is the root cause of conflict in Ukraine. US wants access to Russian resources for nothing as their own has run out or very expensive to access. Without cheap Natural Resources, especially energy then the Service economy falls apart.
It's not that their own resources have been running dry, but rather that they always want more and more - the United States of Avarice, legacy of the Perfidious Albion.
Some even includes Drugs and Prostitution to their numbers, some even stretch it as far as including the estimated black economy. A way to mask a lack of growth.
Great guest!! Thank you
Here's a concept.......Let's all just trade, be friendly, and be peaceful. Who cares who is the biggest? Life isn't a pissing contest.
Uncle Sam won't accept this
That's either communist or terrorist or whichever bogey word the RBO is promoting. The only system that works is that which extinguishes all life on earth. All other systems have shown to be fatally flawed.
Russians think like imperialists, that s the problem
💯
The added synergy of a win win situation, is greater than win+win. Empire rather want to grab more of of a shrinking cake, than cooperate and make it bigger with enough for all.
Totally agreed. Russia is a commodity superpower, and it’s a blessing to make friend with Russian, and on the contrary a curse to make enemy with.
Do not poke the Bear !!
@@GreenIsland38 Neither should to tease the Dragon.
Demo Repub of Congo, Turkmenistan and Nigeria are also commodity "superpowers"... so is Papua New Guinea.
Very smart guy. I am happy to hear one very independent and smart point of view on what is going on in the world.
And I am happy to see Serbia improving economically.
No, wonder if guys like Dejan are involved in shaping their thinking.
I don't envy the serbs for having smart people like Dejan, but I feel sorry for my countrymen in Macedonia, because the people who govern the country for every important decision have to go to the king, so the King will approve or disapprove.
The King is also known as American ambassador in Macedonia.
So big thumb up for Mr. SOSKIC , I enjoyed the conversation.
Sve najbolje
Makedonac
Поздрав за Македонца.
@@xvx3503 Cuj, ja sam 63. I za mene nema razlike izmedju srba I Makedonaca. Ja sam vojni rok sluzio u Senti.
U Jugoslaviji zapadni ambasadori su samo jednom bili pozivani u Karadjordgevu na lov. I niko nije spominjao njihovo ime celu godinu.
Da popiju rakiju I slivovicu I da se rukuju s Titom.
Sada, svi presednici osim Vucica rade ono sto Im americki ambasador dozvoljava da rade.
Zato postujem srbe. Jer srbin ne ide na kolena kad mu neko mocniji to kaze.
Thank you Pascal. for introducing me to Prof. Šoškić. A brilliant analyst.
Thanks for hosting Prof. Dejan Šoškić.
Merci Pascal. L'intervention de votre invité sort de l'ordinaire auquel on nous a assignés.
Russia is huge superpower and will always be !!!
With merely 4% of the World’s GDP, a CCC officially rated economy and, while the Rouble isn’t a reserve currency? Russia is the lesser of the USSR. The USSR found the lesser against the United States. And, the United States is about half of the West, having the US as its Centre State. The West controls the World’s bond, currency and equities markets to the tune of the equivalent to hundreds of trillions of USDs.
Very interesting and informative guest. Amazing that our 'great' Western leaders didn't receive or act on the information provided by analysts and experts such as your guest. How much pain and misery could and should have been avoided.
Brilliant and insightful interview. Thank you very much from South Australia
Good video. Thx. Long live Russia and the russian people.
21:42 Europe expels the Russian economy, because the US Hegemon tells it's subservient European vassals to do so.
I don't think it the US thatbjs doing this stuff. The US also is captured by the same people trying to bring down the EU. It's 1930s all over again history repeat itselfs.
It is a win-win for the US. They get to weaken both of their competitors.
Bluikkso.
No it isn't.
Russia has been strengthened.
America's European vassal have been weakened.
The Bretton Woods system has been weakened, perhaps critically.
A Russo-Chinese alliance is stronger than the US and its allies.
@bluikkso Tbh, it is an advantage when your vassal states/ allies economy is too weak.
Thank you for this wonderful session which comes on Queue with your other great videos
Russia today is what America used to be.
And America today is what the USSR used to be.
In USSR private corpos didnt own the goverment.
A very interesting and intelligent guest. Thanks Pascal.
Speaking about russian economy and available cash for investments. Scott Ritter in his last trip to Russia had talks with different mayors of russian cities very far sometimes outside Moscow. in the vast country. They have budgets for industrial , agricultural and general eceonomic development in their counties which cannot be allocated for the lack of viable projects . So if you have a viable business idea which helps cover local demands in those sites , you will get any help you can dream of to put your business in motion.
Many people in comments are saying that Russia is just an exporter of raw material and can't hi-tech stuff. They have built nuclear power plants in my country (India). India and Russia jointly produce Rifles and fighter jets. Also the Brahmos missile. If that stuff is not high quality I don't know what is. Most people in west only think high quality stuff as Iphones and AI bots. The things of actual importance is what Russia focuses on.
The problem is that they create high tech stuff in only specific fields. Military, energy related industries, etc
They are the first to go to space so I don't why anybody can think the Russians are stupid
@@reneechery9903It’s the James Bond world they live in.
@@Kodreanu23They have China to do that.
Wow 👏🏾. Thank you very much for such an interesting and informative interview about Russia 🇷🇺. Both of you are very knowledgeable individuals. With love 💘 and respect from Mozambique 🇲🇿.
The big Mac index is a fun way to look at PPP.
When I heard Russia referedto as Nigeria with snow, Iws shocked by the sheer ignorance. The US relies on Russia for nuclear fuel and heavy crude oil.
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes :
Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse .
Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
The USA needs many resources that Russia has.
Nickle, Fertilizer, Uranium, and Energy.
Among a few other essential elements.
@@danielhutchinson6604
Enemies of The United States, sooner rather than later you will be dealt with by our all-mighty, invincible American heroes :
Superman, Spider-Man, Batman, Captain America, Iron Man and Mighty Mouse .
Not to mention John J. Rambo, Rocky Balboa, Chuck Norris, Jason Bourne, Ethan Hunt, his British apprentice - Bond... James Bond... and - last but not least - the first transatlantic Wonder Woman admirable Admiral - Rachel L. Levine.
@@danielhutchinson6604Gold and Diamonds too.
The USA doesn't rely on Russia for any of those things. Russia sells it cheaply and the USA wanted globalization and partnership. Now Russia decides to invade it's neighbors the USA and it's partners decide to not deal with Russia and extract itself from Russian goods. It can and will be done given time. USA does not need Russia for anything, but Russia desperately needs everything technological from the West.
If Russia is like "Nigeria with nuclear weapons". Then the EU is like Nigeria without nuclear weapons. And without oil. The French won't use their nukes until an enemy crosses the river Rhein.
US worlds largest Oil & Gas producer
@@paulbadics3500 historically there were 3 largest oil producers with more or less equal capacities, constantly changing places among the top 3: USA, Russia, Saudi Arabia.
No idea for the natural gas though, need to Google it. But considering shale gas, yes, US could take the 1st place. However it's harder to transport and it carries twice less energy in a unit of volume.
@@paulbadics3500Russia largest gas producer globally
Pascal , Excellent Interview . Your studies with any bias it is a MUST to any analysis . Many thanks to your efforts . Dr. Dejan brings a broad vision from whom see all the forest from above .
Greetings from Zimbabwe ✊🏾
Es maravilloso escuchar alguien como DEJAN SOSKIC con tanto conocimiento en el tema economico-bancario.
FELICITACIONES!
Saludos desde Medellin-Colombia.
This is a brilliant and highly informative episode. Thanks so much Pascal, this type of information needs to be spread far and wide as the ordinary people needs this brother
Brilliant analysis of a complex subject. Thanks.
Absolutely. PPP is truly the way to go. Thank you professor!!!
EXCELLENT Host.
SUPERB Guest.
Am enriched by this totally unbiased, highly informative exchange.
THANK YOU , Pascal 🙏
Looking forward to more ot the same.
👍👍👍👍👍👍👍👍👍
This is the best economist in the world.
USA and Europe are committing economic suicide to sacrifice their economic wellbeing in exchange for supporting Ukrainian war.
Thank you Professor for bringing light about the world economics.
Famous quote by Napoleon Bonaparte: "Never Interfere With an Enemy While He’s in the Process of Destroying Himself".😘
Russia is rich, very rich.
*_Weaponising Devices is far more fatal than the dying dollar._*
It is faster and more bloody that's for sure.😢
Israel blew up their first mobile phone in the 80's. Just sayin'.
A great interview, thanks! Russian economy is really solid. Every year when I come there tons of new things are build, a completely different dynamic to Europe, where I live.
Greetings from Australia
Another excellent guest. Thanks Pascal. This is a go to guy for economic input for sure.
Gospodine Shoshkicu,
Mislim da ste porijeklom Vasojevic kao i ja...
First class analyse and insight!
Very proud of such an expert ispod Komova,
Srdan pozdrav, od Babovica, Kopenhagen!
Serbian . Best guest
Brilliant, very interesting..
I have to express my admiration of the skillful head of the Russian central bank.
*Serbian
@@JmJmmmmmshe is Tartar not Serbian
@@lilacer6841The guy is referring to the guest,which is Serbian
@@Milan_M95 ok
A clear analysis. Putting things in their place. Thanks to both.
I am shocked. I never knew Russia was just in debt to only 17% of GDP. That makes us Americans embarrassed.
It may also be a shock to you that the gdp in the united states is calculated taking into account all mortgage transactions. in Russia, home ownership is 89%, this huge part of GDP falls to Russia, only because Russians have their own housing and they don’t owe anyone 🤷♂️
@@Notrusbot Sorry, but full home ownership in russia is actually 94%
@@Notrusbotbecause houses in Russia are worth nothing . Nobody wants to live in a Russian village or even City .
@@Notrusbot How does home ownership factor into GDP?
@@petersinclair3997 a mortgage is a loan. The more people with a mortgage, the more debt. Someone's loan is someone's asset. in this case, a bank that issues money on the condition that mortgage payments will be received. If you don’t believe me, you can read for yourself what GDP is made up of - produced goods, services, loans.
Great conversation, a lot of information, thank you both.
Very intelligent man.
I have learnt a lot from this guest thank you
So basically Russia kicks ass. And there aint anybody that can do anything about it! PERIOD
Always fascinating to have views and input from sources not normally readily accessible.
Expelling Russian economy from Europe is a sure way for Europe to lose its ever shrinking clout even faster.
In reality it's actually impossible to totally expel the russian economy from Europe. Russia is a world power and its economy will forever affect, influence and show up in all the economies of the world.
Addition to the Mr. Soskich's well established explanation of dynamics of government led in Russian economy base, Russians are good and creative engineers too and they have the spirit of manufacturing before the profit making which enables the military production more efficient then the collective West . When discussing business with Russians, mostly topic is around the viability of engineering or technicality before the profit and share mechanism.
Great listen. Thanks to Dejan for coming on.
Which country in the world left 300 billion outside its country?
None, but Russia can. This means Russia doesn't need that money urgently.
China has much more and poor old Japan even more
Well, if I keep my assets in bank savings and various investments (portfolio) does it automatically mean I "don't need the money urgently"?
Whether the need is urgent or not should be of no interest to ANYBODY but the rightful owner BTW.
@@calicocat8213 That's exactly what it means.
@calicocat8213 That's what I meant.
@@vaska1999thanks, you got my point.
Thank you Prof Lottaz for the quality, pertinence and depth of your interviews. Greetings from Argentina
Great discussion 🙏🏻
As others have also said, an excellent discussion! I would love to hear more on this topic and from this speaker.
Very good discussion. Rare too see such a realism anywhere nowdays.
Fantastic interview
EU is finished there's no economy any more EU is down Russia's economy is up,
A Financial-iced economy looks great on paper, not so much in the boarded up reality of main street.
Russia can't even build a toaster .
@@axelscharf2415Here in India, they have built our nuclear power plants. What are you smoking dude😂
@RahulSharma-dq4yr Only insane people would let the russians build a nuclear plant in their own country 😆 !
@@axelscharf2415please stop embarassing yourself. The International space station that the whole world uses was built by Russians. Its orbit is maintained by Russia. Greatest weapons in history are made by Russia. What toaster are you talking about? 😂😂😂😂
Outstanding commentary. To summarise: low chance of development of a new reserve currency in the near term; but rapid development of mechanisms of settlement in ways that avoid the US dollar.
Very good discussion! Thanks to you both!
You can’t beat Russia full stop.
one of you best guests!!!
Very good guest. Thanks
Excellent speaker.
Great show, Pascal. Thank you
Prof. Šoškić explained what European leaders decisions on our involvement in Ukranian war mean to exsistencial situation of their economy, reputation and life and standard of life for their people.
In serbian he would say:" malo su se zajebali"
You didn't have to be a professor of economy to get that, just to look at the map, and know from where the basic resources come. The great sanctiones against Russia were the greatest sanctiones that we imposed against and on ourselves.
Not to change our minds, North stream pipeline explosion was commited by who and why... We don't talk about that.
If our politicians are not complete idiots, notorious delusional gamblers and natural backstabbers, they are totally corrupt by USA and in the result of their decisions and actions - treasonous.
Let be clear: EU got, from their leaders and allies, the greatest sanctiones on EU ever, and the gratest friendly terrorist attack on vital energy line.
How that happened in those few months that we were shouting "Slava Ukraine" after too many of us went back to that map to see where is that Ukraine anyway?
When uncle Sam says Jump, they ask how high.
Veoma zanimljiv intervju.
Very interesting information and it rings very true. Just shows how much "rubbish news" the west puts out regarding Russia. He also basically shows how great Europe "could be" if they got their show together and disregarded totally any and all interferance coming from the US. Top guest Pascal, stay safe and keep it coming.
Great interview thanks
This has been an amazing and cristal clear screenshot of the real world economy. Thanks!
I just visited Russia after 14 years. Its another world! Its thriving and Europe in comparison is a sht hole.