Fortune (February 22)
“Four years after Vladimir Putin ordered an invasion of Ukraine, Russia’s economy has entered a ‘death zone.’” Former Russian central bank advisor Alexandra Prokopenko, currently a fellow at the Carnegie Russia Eurasia Center, believes “the Russian economy is eating its own muscle to survive as Putin’s war on Ukraine destroys future capacity.” The economy might not be ”headed for an imminent crash, but GDP has stagnated, oil revenue has been halved amid Western sanctions, and the government’s budget deficit is rapidly draining reserves.”
Tags: Budget deficit, Central bank, Crash, Death zone, Economy, Future capacity, GDP, Government, Invasion, Oil revenue, Prokopenko, Putin, Reserves, Russia, Stagnated, Ukraine, Western sanctions
New York Times (September 1)
“In the decade from 2002 to 2012, wages have stagnated or declined for the entire bottom 70 percent of the wage ladder.” Last Thursday “thousands of fast-food workers in 60 cities walked off their jobs, the latest in an escalating series of walkouts by low-wage workers demanding higher pay and the right to organize without retaliation.” The workers are seeking $15 an hour, up from their present $9. In demanding more reasonable wages, “the fast-food strikers have it right.”“In the decade from 2002 to 2012, wages have stagnated or declined for the entire bottom 70 percent of the wage ladder.” Last Thursday “thousands of fast-food workers in 60 cities walked off their jobs, the latest in an escalating series of walkouts by low-wage workers demanding higher pay and the right to organize without retaliation.” The workers are seeking $15 an hour, up from their present $9. In demanding more reasonable wages, “the fast-food strikers have it right.”
