Richard Wolff on How Russia Destroyed NATO's Economic War, U.S. Dollar COLLAPSES as BRICS Surges
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- Опубліковано 29 вер 2024
- Economist Richard Wolff joined the show to discuss how Russia has obliterated NATO's sanctions and teamed up with China and BRICS to to place the U.S. dollar's dominant status in the world economy in grave danger. This video breaks it all down.
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#russia #nato #sanctions
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Xinjiang county no Facebook 🤡
she is dead already?? GOOD
Yemen 🇾🇪 has the right to defend itself
Revisit John the Baptist Gospel
When Russia returned 2 cosomaunts and an American astronauts from orbit, was that a violation of sanctions?
kidnapping?
She got an Space Baby ⁉️
They kept that so quiet i haven't even heard i thought they were still stuck in orbit.
It's not a sanction if it's a gain or to the US advantage. Hypocrite is the word to describe them. Double standard bully.
Sanctions only when it suits them, on what it suits them. I'm pretty sure the US paid a huge, undisclosed amount, to the Russians to give er a ride.
Lebanon 🇱🇧 has the right to defend itself
And the right to have allies involved
Lebanon has been in Wars sans i born and before i born 1963😝😝😜😜
@@VladKostadinoski as well as the USA, Great Britain and Russia. What your point?
@@ubiytsa3548 My point is War problem in Lebanon never been solved ore stop. So you work it out Why !
@@VladKostadinoski buddy Israel WILL not invade another country or there will be terrible consequences. Lebanon has been defending itself for the past 2 decades. Youre defending a modern day Austrian painter
USA 🇺🇸 and its proxies have to be held accountable for their war crimes against humanity at least since 2001 the illegal invasion of Iraq
Yes they are all greedy and evil.
Since 2001? O lord since, the 1950 they have been fucking up. Well lets not forget they were also the o e who fed the nazis with money with theyre kepler founding. Prescot bush taking care of that shit.
No us no ww2 many people say..
the USA said they will never allow an ally to be charged with war crimes. Only enemies of the USA can be charged. Putin is a war ciminal for simply allowing refugees to flee to russia following 8 years of being bombed and shelled by ukranian nazis.
John, don't forget Yugoslavia 1999
It’s like you are high on alcohol. You should be taking about what America did to Iraq.
I'm a simple man; I see Richard Wolff and I click (and click 'like').
Yeah pretty simple
You are more sophisticated than the majority.
That's my hunch.
No he has a common theme, you hear one Wolfe rant you have heard them all. He's an old political man, DEms for the People and Gop for the corporations, that is a sorry tune , both wings are against the common man, all they care about is their mansion in the beltway and off shore.
Well said🎯 @@mikeg4247
@@mikeg4247 Truth is unpleasant to those who want to hear how great the US is. Those like Trump who thinks the tariffs are paid by China. Denial.
US ECONOMY and US DOLLAR ka ka! Will be u POOR NATION/EMPIRE! Wil be more people living in the STREET! Uncle SAM is Doomed!
In the USA there already is and they letting illegal immingrants flood in.
TRUE
@@ppmangoenkarso4771 Hispanics already took over and sleeping in the hundreds of millions on the streets
As an American I support BRICS and em ditching the dollar. Fuck us
and quickly
Prof Wolff always talks as if the listeners were (economic) dummies. Probably that's why I can actually understand him. 😁
Love it
That's because his listeners ARE dummies.
When the fact is, that about half of the population of this country say, that they'd prefer to have a convicted felon,
tax dodger, compulsive liar etc.. for their President, instead of a professional lawyer, then it is very probable,
that also, half of' the listeners here, are not only economic dummies, but a total and complete dummies....
US will become the land of classic gasoline vehicles, like Cuba.
It's getting that way, they average age of vehicles on the road in the usa is 12 point something and getting older.
@@mkedan6741 That’s because today’s cars are far more reliable, I grew up in the 60’s - 70’s when a car warranty was 12 months or 12,000 miles. Today it’s 8-10 years or 100,000 miles plus you can even buy an extended warranty if you plan to keep it longer?
its the land of the high, and the home of the thot
Thanks Danny for having Richard Wolff, always love following him and the way he makes it so simple understanding economics and our failures as "revenge" is followed instead of principles of economics. Greed ruins both the economy and We The People 🤬
John Nash is the Chinese philosophy, he won a Noble Prize and was a great mathematician...
I despise Wolff because he ALWAYS lies everywhere. His ideas are all pure evil.
Great interview!!! I can listen to Pro. Wolff and his lectures all day. Nothing but truth from Pro. Wolff.
Truth, I learn a lot from prof. R. Wolf
Brics currency will be the death of dollar...
lol🥱
@@lisajpsnowpeak431 You wait when you need a barrow load for a pint of milk, you yanks wont be able to keep printing money anymore.
Sooner than anyone would expect.
Actually the U.S. Dollar will always be here. It's role as the world reserve currency will not.
@@delikonthree I guess that's exactly what he/she meant.
FED-Yellen visited Peking to tell the Chinese governmentn: You need to reduce production, because we aren't able to compete. Otherwise we need to sanction you by ways of tarrifs.
The Chinese were too polite to burst out in laughing and send her home as the discraced maron that she had shown herself.
They simply shook the head and waved goodbye.
She tried to convince them to buy new American treasury bonds.
As the Chinese are polite they said they would consider that while selling the old ones like crazy.
Just like telling the Saudis to pump more oil, yes they say as they turn away, but no we are not going to solve your problem...
Its called Chutzpah
@@zoltanbarath7371who'd even buy the ones they already own?
@@zoltanbarath7371 That's funny but very True.
Professor Wolff is so precise in his talk. US is slowly fading away.
I slightly disagree with Richard Wolfe, in the sense that I consider the modern dollar to be an "empty paper".Hence, his measurement of countries' GDP in dollars, I think, is not entirely correct.It seems to me that it is more correct to judge the economy in terms of the purchasing power of any person living in any country.If I can buy $1,000 worth of things in Russia that cannot be bought in the United States for $10,000.Then who cares about GDP in this case? The average American worker receives a salary of $3,000 per month (280,000 rubles)BUT he can buy with this money exactly the same thing that I can buy in Russia for 500 dollars (48,000 thousand rubles).Then who cares who has what GDP?
So do you believe everything Yellen or Powell tells you?
@@georgewilder7423Janet Yellen is a bad joke!
The history of the last 90 years prove Dr. Wolff's words.
Both Russia and China also have the best education systems in the world
And somehow have traditional family values unlike lgbtqia+ west.
Japan and belarus too
Russia 🇷🇺 has the right to defend itself
Yeah but you lack the capacity
Exactly.
@@Mightyflynn77 errr
You have a strange definition of defend.
No?
Then why isnt the NAFO invading Russia?
Finally & much to the satisfaction of the thousands of loyal students of Prof. Wolff... The world is discovering, investigating & tasting the different flavours of socialism. The Multi-Nodal World can now find the flavour beneficial to sustain humanity. Balance.
@ 4:00
A good story about WWII was the way out for the USA to get out of the Great Depression by having a "war economy". However, Wolf did not say HOW the U.S. government started off this spending cycle (by sending half to war and employing the other half for war industries). There must had been funding to kick start this era. Did the US government borrow huge amount of money to get started and then got into the bad habit of excessive borrowing, till today and sadly for ever?
Check out the history of the EU bank of England and most of all the Rothschild family 😂😂😅
They did what they are still doing, ie printed more money.
@margaretcaine4219 which eventually brings hyperinflation
Palestine 🇵🇸 has the right to exist and defend itself
❤❤❤ from Russia !
No
Of course they have, till they have their land back.
Not according to the west; only western allies are allowed to defend themseleves and can attack whoever they want.
@@truthwillwin8977 YES and NOT No ! IT IS YOU have NO right to even say ' No' !!! Palestine has ALL THE RIGHTS TO EXIST & DEFEND ITSELF !
The u.s. handed china a gift when they outsourced our manufacturing
Yes, but China was already on the path with the tentative steps towards capitalism that were started by Deng Xioping in the late’70s. According to the CEO of Apple, the US corporations moved to China because China had highly skilled labor force. People assume that they moved because of cheap labor. Not so, according to the CEO.
@@PodingaYes they had and still have a highly skilled work force that's also much cheaper than the American work force.
Why would the Russians allow the IMF/CIA access analyze their economy and give them the opportunity to counter the success?
They shouldn’t. Russia doesn’t need imf or so called world bank which is in fact a nato bank.
It's like getting OLD .
In your mind you're used to doing the impossible, but in your 'STRENGTH ' you're not able to do One Quarter of what you were able to ONCE UPON A TIME.
SANCTIONS again makes (FORCES) a Country to DIG IN and ' DO IT YOURSELVES ' also STRENGTHENING YOUR OWN ECONOMY.
So in reality AMERICA did RUSSIA one helluva FAVOR uplifting their ECONOMY.
Common Sense is something LACKING in AMERICA.
I've always been independent minded, why should any nation rely on goods and foods half way across the globe❓If relations deteriorated or a war,now both nations half food shortages. Do business with foreign nations ,but don't let it be your only or primary source.
And honesty. Most just can't seem to be honest with themselves, or each other! Pay attention to this.
GDP is outdated, PPP is the right measure
PPP is only an accounting trick to explain how Russia with GDP per capita of $15,670 can afford to buy food compared to German GDP per capita of $48,717? It does this by comparing the cost of living, a loaf of bread in Germany costs around €1.30 on average while it will cost half of that at only 62 rubles in Moscow. But that only apples to some basics, it doesn’t mean you can walk into Moscow car showroom and demand to pay only half price for a foreign made car because of PPP! In fact because of sanctions, these cars are routed thru Turkey and then Armenia before reaching Moscow getting price markups every time it changes hands. So now a foreign made car you buy in Moscow will cost twice what you’d pay in the EU … this even goes for the Chinese cars that are now dominating the market!??
@@JimCOsd55 sour grapes ....?😁🤡
@@neoonh518 Nope, just simple facts, there is no such thing as a PPP currency, it only exists on paper as a tool. Some countries use it as a bragging rights that their economy’s are strong. But GDP is still the simplest measure of the economic output of a country. Tho it’s not the complete economic picture as inflation rates, employment and many other economic factors paint a much better economic picture. This why that a 3.5% increase in Russian GDP looks good on paper, much of it is due to the Russian government spending 40% of their revenue on weapons. If they were selling these weapons to other countries, then that’s a good profit. But since Russia is paying to build these weapons for their own use. Then the money to buy them has to come from elsewhere which in this case is their national wealth fund that they are slowly depleting. Thus Putin has painted Russia’s economy into a corner, once this war ends, he will have 40% of his industry geared to making weapons which is unable to sustain an economy!??
@@JimCOsd55 GDP is incorrect as it incorporates stocks, shares and insurances without substance. PPP is more akin to reality. Russia does not spend 40 % of revenue on military, what ever you wish. And their economy is blooming
Thank you Richard wolff dh for sharing
This tyrannical regime has to go & be brought to justice… With justice comes faith..🙏👍👌& with faith comes FREEDOM… cheers I’ll drink to that..🙏
I was just watching a travel vlog from China high speed train. Even the tourist class is highly comforted. You don't get much food in the restaurant, but you can order from your seat via phone any meal from a restaurant operates on the the next train station it stops. The guy ordered KFC, they dropped it on the train and was delivered to his seat.
It's unimaginable in the West and 99% of the stuff they do to serve the public. Everything is made in quality and for the convenience of people, and see miracle, they still manage to make profit.
No, I don't want to move there, but where the compliment deserved, we must give it .
Fabulous interview. Bring him back!
I can't afford $30,000 for a car, so the tariff is irrelevant because I don't make enough money.
Always great to hear from Prof. Wolff.
Por favor subtítulos o doblaje en español, desde suramérica.
When all else fails, they take you to war : Gerald Celente
what worked in 1914 wont work in 2024
I've never seen an angry man make that much sense. He's just angry with the Serpent America.
Russia is strongest economy in Europe
Fact
BRICS is the future ❤❤
Just near in mind that on the NDB website it says they're aligned with Ag.enda 20.30. This bothers me.
Mankind needs to evolve. Imagine what can be achieved when the West Russia and China would work closely together.
Interstellar interview!
Very articulated man. Very colourful too.
I love it
Here's what most US citizens can afford in an electric vehicle, a golf cart. No, seriously, that's what we can actually afford and news flash most of the municipalities have massive restrictions on where we can drive a golf cart.
Thank you Danny. Enlightening lecture from prof. Wolff.
The time is close for that hegemony
The day the dollar dies people will respect eachother
I'm sorry to burst your bubble but looking at the history of the human race they will just continue to destroy each other over another currency. The Dollar wasn't the first nor it will be the last. Yes it will be better for a while at first but then humans will revert back to their self destructive tendencies. Human history proves that.
Wrong. Human history proves otherwise.
Excellent info
Blinkin has the right to a speedy trial and an orange jumpsuit.
Appreciate Brick going to reject dollars
BRICS 🤦♂️
You Exist Aways have and always will....👽. The One is All and the all is One.
What you put out is what you get back.....
i really like this profesor ahahahha
Big Salut PROF. ✌️🇬🇭🇬🇭🇬🇭
Richard Wolff is always good to listen to. I never turn down a chance to hear his view on matters. A deep thinker who is able to put the message across in layman terms. Good stuff!
Very informative speech enjoy it true indeed thank you Danny Haiphong and friend.
BRICS is the medicine for IMF❤ you from Kenya 🎉
Great respect to Mr.Wolff but BYD is not in Eourope yet. We have Tesla, BMW, VW, ... and other EVs, BYD is still rare.
It's here in Denmark
We see players but have no idea what the game is.
Corruption is the real pandemic. Perhaps the only pandemic but certainly the deadliest. To nobody's benefit.
This was recorded on July 4th, per Richard Wolf. This being released months later and portrayed as new commentary is misleading.
BRICS is the future ❤❤
He disfrutado de sus grandes conocimientos en una entrevista Con Pascal de Sane Vox ... Doblada al español 😊 .
Quisiera seguir disfrutando de sus conocimientos y puntos de vista . Podrían al menos ... Subtitularlo al español 🤗 ? .
Muchas gracias 👍 .
Am I living in a parallel universe? Or do I keep finding that I've already heard DH's videos earlier, so when I click on a new video (a couple of hours old), it's an old video from some days ago? It's getting a big niggling... but hey, if it's a parallel universe, no problem.
Hi Danny. Have a good one.
This is "punch-line" of what "eye" sent in the first comment. Huguette" and "eye" have an idea for a movie. What if a movie was made of "the great eye" from the back of the one dollar bill, "fainting" the "Obama-administration" into possibly committing "idoletary" by building the "Obama-nation", that is the "African History Museum" in DC next to the White House". Then that frees "the great eye" to roam the earth using the logic of "Sigmund Freud" as "his" lap dog. "eye" "wood" pay $500.000 dollars to "see" that movie. Oh wait, "eye" already did. 🏈 🏈 🏈
Fabulous off the cuff information from economist Mr Wolff . 100% mark up tariff on Chinese electric car is the highlight .
But is easy to circumnavigate
This man under counted the size of the us GDP by $4t, that's about the size of German or Japan the 3rd and 4th largest economies in the world and you expect us to take him seriously?.
Everybody got a job in 1940s ????🙄🤨The Blacks were not part of that Everyone Ijs. 😔
Didn't they have a job as soldier?
Blacks didnt join the army?
@@DemiGod..they did join the military but segregated
Blacks did have jobs great jobs during the 1940s because they had their own separate economic system
@@TeeSpells segregated job is job too, and better than jobless
The bully is too arrogant and in the end you ask for it 😂😂😂😂😂
Two channels to look at
Inside China Business &
Awakening Richard.
it should be clearly understood that though any industry in a country producing product does contribute in it's economy & GDP but foreign companies in a country , for instance Toyota in Pakistan does produce cars & contribute in Pakistan's economy but being a Japanese company it transfers all it's profit to Japan & do same US as well 🇵🇰
Thanks Danny and Richard, competition the best inflation fighter there is, not tariffs or sanctions, good old American competition...
Destroying 💰 ✡️👿 fiat fake system. U go on with ur bad ass
I always enjoy listening to Richard. Thank you for having him on your show.
European expansion started with otoman empire sanctions on trade with Asia. Fun fact.
I really like Richard. But corporatism is not capitalism.
❤❤❤
Prof Richard Wolff is FANTASTIC!!
Sanctions work both ways - obviously both sides profit from a trade deal - put on sanctions and both sides lose - not just one. If you sanction everybody and everything, it's sort of like you're sanctioning yourself.
This time the western leeches were removed, so Russia profited big time. The west lost big time.
The sanctions did in 5 minutes what putin was trying to achieve for years, he is very happy.
Thank you Mr. Wolff for sharing.👍
Prof. Richard Wolff is like a father to mankind. His mind and spirit are perfectly aligned in integrity and honesty. If you don’t love this man, you don’t really know what a father is. Absolutely impeccable. Thank you to both of you.
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver is also a good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you. I work with a financial consultant regulated by the SEC, and started small, but eventually accumulated more than $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Proffesor Richard Wolff, yu forgot to say the US GDP of 23 trillion dollars is partly manifested in debt.
Mr.Wolff does much to neutralise the tired old "subjugate all" policy and attitude of his fellow Americans in power. If he says it then you can take it to the bank. Class act as always
I always love listening to Professor Wolff.
Yes China has problems just like anyone else ! They worked on them and came up with solutions and good outcomes.
The unfair tariffs and smearing on China with unjust misinformation are childish that a great country like USA should practice.
❤✝️ ХРИСТОС ВОСКРЕСЕ ✝🕊️
БОГ С НАМИ ПРОТИВ ЗЛА И ИСКУШЕНИЙ ✝🙏🏦🇷🇺🇵🇸🚀🦾
American mobilization for World War 2, the working class was employed and paid, and those of the middle class not employed were employed. The money expended by the Federal Government Wes put into the pockets of the working and middle class. Their debts were paid off or abolished, they found themselves with years of savings after the end of the war with a clean credit record.
Currently in the present war mobilization of America, the money is going into the pockets of the elite and wealthy, not into those of the working and middle class.
fabulous!
It is as little the world's reserve currency as it is the American people's national medium of exchange. Neither function is served well at all, ever!
The reserve currency is private and international. It has just two charter directives, to windfall creditors at borrowers' expense by always leaning towards deflation under the sophistry of "fighting inflation" (which it isn't because almost never does the general price level rise because households/consumers have too much money and bid up prices, which has been the underlying stinking lie of Powell. (Raising interest actually has forced businesses to raise prices due to MONEY DEFLATION.)
In addition to this crooked goal of money deflation behind the fraud mask of fighting price inflation, the second charter directive of the Fed is to "fight unemployment" but the banker oligarchs read this as keeping wages (working class incomes) low relative to income to household living standards, so people look for second jobs and refinance their homes over and over to "restructure debt" even as immigrants pour in to maintain the oligarchs' always-desired buyers' market for labour. That is the charter mandate of the Fed for Americans. THE FED DOLLAR HAS BELONGED TO WORLD AS THE MEANS OF BALANCING THE WORLDS CURRENCIES WHEN INTERNATIONAL TRADE IS NEVER BALANCED -- SO THE FED DOLLAR IS THE WORLD'S. THERE ARE MANY TIMES MORE DOLLAR DEPOSITS ABROAD
What if those who have dollars abroad change them into another currency ?
@@taniaramaki5142 That is what reserve currencies are for. Some buys those sold dollars. The fewer of each of the other currencies a dollar buys the more the price of imports goes up in the US and the more American goods and services must be sold abroad to continue our level of imports. The Fed manipulates this situation to prosper currency speculators in arrangements with foreign central banks.
Many empires rose to power, yet they all share one fate: they have all disappeared. Nonetheless, humanity continues to make same mistakes!
Doing the same, and expecting different outcome, is a symptom of insanity.
Greed is the cause of the only USD fall!
Capitalism is not the problem. CORRUPTION is !
Very good Fair insight my brother
I hope DJT will correct this when he wins, O he only care about himself.
Thanks to Nixon, to let go the gold standard.
Protection.. and the Irish Famine😢
dprk has the right to test her missiles..
Thanking everyone
Free agent lifestyle, zeta male! 💪🔥
Well a discussion with Marxist economist...
There are some points to be contended. Obviously.
Comparing WW2 US to Modern Russian war economy - true there are parallels. But no, war economy itself didn't build US global position, it doesn't improve anything. It's a stimulus based on massive central spending which is financed either by debt, liquidation of reserves or increased taxation (all of which Russia does by the way). Nobody will work your factories for free. Nobody gets materials for free. It all needs to be paid for. There is no such a magical thing as improving economy by making tanks, only thing that happens is that money pumped from central government give temporary boost to economy (either at cost of future growth [debt] or at cost of allocating previously untapped sources [reserves, wealth fund]). By design - it's not something sustainable and it drains treasury. US position in world was due to what was happening AFTER war economy. With US being the only industrial power that has not suffered any damage on it's own soil, and having relatively easy access to markets all around the world. Over 20 years following II world war USA more than recuperated losses of war economy, by like factor of 10x. It paid back the bonds, exported massive quantities of everything from food to guns. But war economy is always a net loss, it's nothing but pumping money into non-essential assets, unless you are at war. But once war ends, you will end up holding a bag.
GOD BLESS MOTHER RUSSIA!!!
On the subject of China's economic development, it actually started in the Mao era. When the Communist Party first came to power, China had less industry than Belgium. By the time Mao died, China was the 8th biggest industrial power. It was still a poor country but it had made ENORMOUS strides in developing an industrial foundation and improving the lives of its people. The Chinese life expectancy when Mao died was DOUBLE what it had been when Mao came to power. Let's not repeat the right-wing lie that Chinese economic development only began 40 years ago with Deng Xiaoping's capitalist reforms. Chinese economic development first got jumpstarted with the Great Leap Forward, which despite all the right-wing lies and distortions about it, actually built an enormous amount of industry and infrastructure. For instance, most of China's major dams were built during the Great Leap Forward. Richard mentioned China's first big oceangoing ships, saying they were built in Deng's time. No, China started building big ocean liners in Mao's time actually, during the 1960s. That just goes uncredited because nobody wants to admit that Mao did anything for China, everyone just wants to repeat the atrocious lie that Mao kept China poor. No. The 1950s and 60s were a time of enormous construction in China. The economic development after Mao's time could not have been achieved without the economic development that occurred during Mao's time. It was socialism, not market reforms, that built China.
I'm not arguing against what Richard is saying in general, he's making lots of great points. I'm just arguing against the notion that China's economic development started 40 years ago. It didn't. It started 70 years ago.
This guy like to emphasise GDP like is everything. Education is very poor in America, calling Russia undeveloped. 😂😂😂😂
I would say, on the subject of Russia's wealth and GDP and status as an economic competitor to the US, it's not quite fair to talk about Russia today as if it was always like that. The Soviet Union in the 1970s and 80s was a much bigger economy than Russia is now. Not merely because of all the other Soviet republics that were part of the union, but also because in the 1990s both Russia and all of those other republics were massively DE-INDUSTRIALIZED. The 1990s was an economic apocalypse for the Soviet nations. Russia has only within the last decade even STARTED to recover from that. The Soviet economy might never have been quite the equivalent of the US economy, but it had consistently higher economic growth rates and it would have matched the US before too long, perhaps by the year 2000 if it had continued on its course. But the fall of the Soviet Union did a lot more than just politically break the republics apart from each other; it also entailed absolutely massive, rapacious looting by both local and especially Western capitalists who tore the Soviet economy to shreds. This cannot be forgotten. Russia today is a much poorer and less developed place than it was in the 1970s. That's something that can't be ignored. Capitalism destroyed Russia, and all the other Soviet nations.
40 years of Reaganomics has been a disaster.