Putin Brings Russia's Economy to the Brink of Ruin

There has been growing speculation on Vladimir Putin's mental state and it's frightening that a possible madman has the nuclear codes for a large nuclear arsenal.  Whether Putin has slipped into insanity like Ivan the Terrible - even some Russians on the street described him as crazy - or is engaged in an ongoing tantrum because Ukraine and the West have not bowed to his demands/blackmail is something that we may never know.  One thing that is clear is that he seemingly cares nothing for the pain that the Russian citizenry is beginning to suffer and the hint of dissention beginning among the oligarch class.  Putin's contempt for the well being of everyday  Russians is nothing new and has been the pattern of Russia's rulers since the Bolsehivik revolution nearly 105 years ago.  Whether the circle of bootlickers with whom Putin surrounds himself can reason with him is questionable and we may be seeing a reprise of the later phase of Hitler's regime where the bearers of bad news - and news of reality - are afraid to speak and/or were punished for their honesty.  A piece in Vanity Fair takes a sobering look at the dangerous situation:

Threats of severe economic sanctions were not enough to deter Vladimir Putin from invading Ukraine. But the enactment of those penalties by the United States and other Ukraine allies has exacted an enormous cost on the Russian economy, bringing its financial system to the brink of disaster and augmenting pressure on the country’s increasingly isolated authoritarian leader. Russia’s economy was already reeling from the swift punishments world leaders imposed following last Thursday’s attack: The country began suffering cash shortages, the ruble went into free fall, and at least two oligarchs—who have been targeted by sanctions, along with their families—called for an end to the conflict, even if they didn’t explicitly call out Putin.

The stress on the Russian economy only intensified Monday, when the U.S. Treasury Department and European allies prohibited individuals from working with the country’s central bank, finance ministry, and wealth fund. “The unprecedented action we are taking today will significantly limit Russia’s ability to use assets to finance its destabilizing activities, and target the funds Putin and his inner circle depend on to enable his invasion of Ukraine,” Treasury Secretary Janet Yellen said in a statement Monday.

Taken together, the moves, which include sanctions against Putin himself, amount to a bold, concerted onslaught that threatens to bring the Russian economy to ruin. Putin might be surprised by the response of U.S. and European nations, even famously neutral Switzerland, which adopted European Union sanctions against Russia on Monday. But he shouldn’t be. Russia’s attack last week on its democratic neighbor was executed “without provocation, without justification, and without necessity,” as President Joe Biden put it, and has already brought about horrific destruction and devastating loss in Ukraine.

The question is how Putin—who appears increasingly frustrated as his invasion is met with fierce resistance internationally, in Ukraine, and even in Russia in the form of protests—will respond to the pressure. 

There are concerns Putin could respond to the measures by further escalating the crisis, as he’s already done in putting nuclear deterrence forces on “high alert” Sunday. “At every step of this conflict, Putin has manufactured threats to justify more aggressive actions,” a U.S. official told CNN. And for now, Putin seems intent on continuing to escalate: He is cracking down on protests at home, and on Monday raged against the West as an “empire of lies” amid the international condemnation of his invasion. Meanwhile, with Ukrainian forces, composed of troops and everyday citizens who have taken up arms to protect their embattled nation, mounting a spirited defense against the Russians, Putin appears to be shifting to siege tactics that the Pentagon warned would increase the “likelihood of collateral damage to civilian life and infrastructure.” Delegations from Ukraine and Russia met in neighboring Belarus on Monday for discussions. But with the Russian bombardment building, and Ukraine vowing no surrender, there appeared to be scant hope for an immediate resolution . . . .

Putin is a narcissistic monster - which explains why Donald Trump worships him - and, hopefully, at some point his inner circle will decide he needs to go.  If he won't follow Hitler's example and commit suicide, someone needs to help him to meet an much needed end.