More Evidence That The Russian Economy Is Imploding -- April 18, 2022

More evidence that the Russian economy is imploding. 

The Russians are not dumb people. They can see what's going on. 

Reuters is reporting: Russia flags further rate cut, more budget spending. Not sure what that means. The lede:

Russia on Monday flagged a likely further cut in interest rates and more budget spending to help the economy adapt to biting western sanctions as it heads for its deepest contraction since 1994.

Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed unprecedented sanctions to punish President Vladimir Putin for sending tens of thousands of troops into Ukraine on February 24, 2022.

Putin said on Monday that Russia should use its state budget to support the economy and liquidity when lending activity has waned. The World Bank expects the economy to shrink by more than 11% this year.

Oh, that's it. Doing what the US did several years ago to stimulate the economy:

• government stimulus spending; and,
• interest rates cut, to stimulate the economy.

Of course, going on a war footing with 100% conscription is going to be one huge headwind.

I'm not exactly sure what Russia has to sell its consumers.