While keeping his war of expansion churning through petrodollars and Russian lives, Russian thug and war criminal Vladimir Putin has problems with his domestic economy, according to Russia's own central bank. From MSN:
"As Russia's GDP and inflation figures move in the wrong direction, the worst-case scenario for any economy looms large over Moscow.
"There are signs of cooling domestic demand. However, there is no reduction in inflationary pressure," Russia's central bank said in a summary of its latest policy meeting, translated by Bloomberg.
The unfortunate pairing, more often known as stagflation, is something policymakers prefer to avoid at all costs.
It's a scenario harder to thwart than a recession. When an economy slows down, central banks loosen interest rates to revive activity. But if inflation keeps rising, things become complicated. Since interest rates must stay high to cool price growth, governments are left paralyzed."
While this won't affect the lifestyle of the Russian dictator, the Russian people are likely to see the connection between Putin's war and their sinking standard of living. Coupled with regular call-ups of their family and friends to feed into the meat grinder of the war in Ukraine, and bodies returning to be buried, they should increasingly see Putin as a blight on their lives.
