Good day all. Since Putin’s invasion of the Ukraine, people have been pushing President Dementia to punish Russia. Joe Biden, true to form, did the absolute dumbest thing possible and slow walked any economic sanctions. It was Private Industry that took the lead.
When Russia attacked, people started saying, among other things, that we needed to stop buying Russian oil, which is paying for the invasion of the Ukraine. Dementia Joe, thanks to his incompetence and attacks on domestic oil production, was worried that cutting off Russian oil imports would make gas prices, already to high thanks to him, even worse. This is when oil companies, among others, stepped up to do the right thing. Here are the details from Fox Business:
Private corporations have been “remarkably swift” in pulling business out of Russia amid the Kremlin’s invasion of Ukraine, experts told FOX Business. Companies like BP are leaving the country. BP announced it was dropping its 19.75% stake in Russian energy company Rosneft, according to its CEO, Bernard Looney. He will also resign from the Rosneft board.
BP isn’t the only company pulling out of Russia. Microsoft has also said “See ya!”
Microsoft announced Friday it would halt new sales of products and services in Russia, saying it is “horrified” at the unprovoked war Russia is waging against Ukraine.
“Like the rest of the world, we are horrified, angered and saddened by the images and news coming from the war in Ukraine and condemn this unjustified, unprovoked and unlawful invasion by Russia,” Microsoft President and Vice Chairman Brad Smith said.
Microsoft joins many technology companies severing ties with Russia, including Apple, Meta, AT&T and more.
The list of companies closing down their business relationships with Russia has grown significantly. May governments are also going after Russian assets, including those of the super rich oligarchs. (various mansions, villas and yachts that rival aircraft carriers for one. I do question going after their assets. A few have turned on Putin)
Scott Lincicome, director of general economics at the Cato Institute’s Herbert A. Stiefel Center for Trade Policy Studies, told FOX Business that private companies have been “remarkably swift” in pulling business out of Russia.
“I think it’s just been a remarkably swift and broad decoupling by private businesses,” Lincicome said. ” You know, I think it caught everybody off guard.”
He said during past conflicts businesses have tried to keep their heads down but noted that this was a different situation.
“I think the global moral revulsion at what’s going on in Ukraine, as well as, you know, the potential investment application have really pushed a lot of businesses to just get out in front of this and essentially either divest or stop selling into Russia,” Lincicome said.
The invasion of the Ukraine is seen as a bully going after a weaker country for no real reason other then they can. (Although the Ukrainians have chewed up the Russian army rather badly according to reports, which do need to be verified) This is literally nothing more than imperialism of a type we haven’t seen since World War II. (That didn’t end well for the Imperial Japanese, Fascist Italy or Nazi Germany)
He also said it was surprising to see how quickly the United States and other countries enacted sanctions on Russia.
Yeah, about that. The United States should have been taking the lead on all this. Instead, the worst president in American History was basically following everyone else, and in many cases, was actually trying to not put sanctions in place. It was only recently that President Bumbles Dementia finally gave in to popular demand and stopped buying Russian oil. Of course, he has doubled down on his usual stupidity by not reversing his orders to kill the American energy sector.
Katie Tubb, senior policy analyst for energy and environmental issues for the Heritage Foundation, also told FOX Business that she has been “encouraged” by the steps that private corporations are taking to remove business from Russia.
“They have taken a financial hit for doing so. They’re walking away from the money that they will earn but that they will not recover,” Tubb said.
But Tubb said that the Biden administration did not do enough in terms of sanctions before Russia invaded Ukraine.
“Did they do enough before we got to this point? I would say 100%, no,” Tubb said.
There is a reason for this, and it’s all about the Benjamins. Biden and the Democrats have been taking money from Putin. Not all of course, but many of the senior citizens in leadership. For Dementia Joe, he’s going to be losing out on his 10% cut from his boy, Hoovernose, shady business dealings with Russia. (And others of course)
One person who needs to pay attention to how fast businesses cut ties with Russia is Xi Jinping, the dictator president of the People’s Republic of China. He’s been making noises about invading Taiwan for a while now. He wouldn’t have dared try under President Trump, but he flat out owns Biden and a lot of the members of Congress.
President Trump started working to bring manufacturing back into the United States, or at least pulling it out of China as a single source and going into places like Mexico, has been increasing for the last few years. The recent supply chain issues have proven to many businesses that shipping manufacturing to China may not have been the best move in the long term.
If the PRC were to attack Taiwan with the goal of conquest, you would see both a massive disruption in supplying American businesses, and an even bigger bloodbath. Taiwan would have to be a naval and air invasion, and those are very tough to pull off. If Taiwan were able to repel the attack and inflict massive losses on the People’s Liberation Army, air force and navy, China would see an outflow of business.
If China were to successfully take Taiwan, it would be a Pyrrhic victory. They would be cut off from the rest of the business community, and all those overseas assets would be seized by the host countries. This is what appears to be happening now with Russia.
Regardless of the outcome of the Russian invasion, Russia’s mediocre economy is going to be wrecked. The only way they can possibly salvage anything is for Putin to be removed, (Probably suffering a fatal copper jacked, lead induced heart attack or stroke), followed by the immediate withdrawal of the Russian army. (Reparations are another discussion) What will happen is anyone’s guess of course. We will see, eventually.
Thatisall
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