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Some of the numbers coming out of Moscow this quarter are setting off alarms in various corridors. There is some fundamental basis to this theory, but it’s also very ‘Western’ driven. The Western theory is that we’re now seeing what happens when a military budget expands faster than the fiscal engine powering it…
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Is Russia’s War Economy at Breaking Point?
Some of the numbers coming out of Moscow this quarter are setting off alarms in various corridors. There is some fundamental basis to this theory, but it’s also very ‘Western’ driven. The Western theory is that we’re now seeing what happens when a military budget expands faster than the fiscal engine powering it…