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Author Topic: The great myth about the alleged small size of Russia's GDP  (Read 865 times)

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Offline Power Vertical

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The great myth about the alleged small size of Russia's GDP
« on: January 07, 2019, 01:14:57 PM »

The size of Russia's economy is the biggest propaganda myth in the west today. And even many Russians believe the nonsense. Russia is not a dollar bloc economy. So no. Measuring with nominal dollar GDP is not going to work. You have to use PPP.

In PPP terms, Russia comes in as the 6th biggest economy in the world. Around 4 trillion. Now to back check this number, we can look at other hard data. Like oil consumption.

Russia consumes twice as much oil as Texas & California combined.Russia consumes 3.3 million barrels of oil per day. Texas consumes 1 million and California consumes 650,000. (Yet we hear with regularity that Russia's GDP is the size of Texas.)

Number of billionaires. Russia has the 6th most billionaires.

Foreign exchange reserves. Russia has the 5th most foreign exchange reserves in the world.

Gold reserves. Russia has the 5th most gold reserves in the world.


So. Do you still believe that Russia has the GDP of Texas or Italy ?


Online andrewfi

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #2 on: January 08, 2019, 06:30:15 AM »
I think that here you are preaching to the choir. I doubt that even Russophobes reading this here would disagree with the point you are making.

Is there a point that you are trying to make?
...everything ends always well; if it’s still bad, then it’s not the end!


Offline Power Vertical

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #3 on: January 08, 2019, 08:46:52 AM »
I think that here you are preaching to the choir. I doubt that even Russophobes reading this here would disagree with the point you are making.

Is there a point that you are trying to make?

Yeah. There is a point that Im trying to make. Most people who don't hate Russia, don't know the data and are terrible at arguing against the propaganda about the Russian economy.

This isn't hard. The data is all on Wikipedia. Yet we never see it on Twitter, the forums, Youtube or anywhere. The utter bullshit still goes unchalleged. A day hardly goes by where i dont hear that Russia has the same size economy as Italy or Texas.

Online BillyB

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #4 on: January 08, 2019, 09:29:30 AM »

Power Vertical, have you been to Russia? If so, where?

Online Wiz

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #5 on: January 08, 2019, 10:33:22 AM »

Power Vertical, have you been to Russia? If so, where?

Just signed up. Im a eastern Europe/Russia watcher from canada

 ;D  :biggrin:

Offline Power Vertical

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #6 on: January 08, 2019, 11:18:46 AM »

Power Vertical, have you been to Russia? If so, where?

Yankee no. Close but not yet. Romania , Slovakia and Poland is the closest I've been. Also been to Serbia Bosnia ect.

Now tell me how this is relevent.. :coffeeread:

Offline Power Vertical

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #7 on: January 08, 2019, 11:21:05 AM »

Power Vertical, have you been to Russia? If so, where?

Just signed up. Im a eastern Europe/Russia watcher from canada

 ;D  :biggrin:

Ah a Brit. Britain. The fifth biggest economy in the world.  :ROFL:  :ROFL: 

As they say Russia is a gas station pretending to be a country. Britain is a hedge fund pretending to be a country.  :party0011:

Offline SL0413

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #8 on: January 08, 2019, 11:44:59 AM »
So. Do you still believe that Russia has the GDP of Texas or Italy ?

Never even considered it.  I normally go around wondering about the GDP of Rwanda, the impact of the monarch butterfly migration patterns on soy bean crop fertilization, and the global market price, demand and consumption of clover honey.


Online BillyB

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #9 on: January 08, 2019, 01:13:56 PM »

Power Vertical, have you been to Russia? If so, where?

Yankee no. Close but not yet. Romania , Slovakia and Poland is the closest I've been. Also been to Serbia Bosnia ect.

Now tell me how this is relevent.. :coffeeread:

Visit Moscow and St. Petersburg and then visit everywhere else in Russia. It's like night and day. All those billionaires and wealth are in two spots. Your impression Russia is rich and the people you talk to impressions are they're not rich are both right and both wrong.

Online rosco

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #10 on: January 08, 2019, 03:07:42 PM »

Power Vertical, have you been to Russia? If so, where?

Yankee no. Close but not yet. Romania , Slovakia and Poland is the closest I've been. Also been to Serbia Bosnia ect.

Now tell me how this is relevent.. :coffeeread:

Visit Moscow and St. Petersburg and then visit everywhere else in Russia. It's like night and day. All those billionaires and wealth are in two spots. Your impression Russia is rich and the people you talk to impressions are they're not rich are both right and both wrong.

That’s wasn’t his point though Billy. It would be like walking through downtown New York then visiting one of the many shit hole towns and cities in the US. GDP OR PPP wouldn’t change.

Online BillyB

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #11 on: January 08, 2019, 03:21:56 PM »

Power Vertical, have you been to Russia? If so, where?

Yankee no. Close but not yet. Romania , Slovakia and Poland is the closest I've been. Also been to Serbia Bosnia ect.

Now tell me how this is relevent.. :coffeeread:

Visit Moscow and St. Petersburg and then visit everywhere else in Russia. It's like night and day. All those billionaires and wealth are in two spots. Your impression Russia is rich and the people you talk to impressions are they're not rich are both right and both wrong.

That’s wasn’t his point though Billy. It would be like walking through downtown New York then visiting one of the many shit hole towns and cities in the US. GDP OR PPP wouldn’t change.

Well then we might as well brag how successful china is with their huge economy, GDP and amount of billionaires they have. I doubt most people would consider China a success since MOST people living there aren't successful. Shit holes are in every country. In some countries, it's rare. In others, it's the norm.

The best way to judge success of a nation is watching people vote with their feet. For example. How many Syrians chose to flee to Italy compared to Syrians fleeing to Russia? When people have choices, observe where they prefer to go because they do have an idea on which countries are successful and which are not. The amount of fossil fuels and billionaires living in a country doesn't factor into their decision.

Online rosco

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #12 on: January 08, 2019, 04:16:15 PM »

Power Vertical, have you been to Russia? If so, where?

Yankee no. Close but not yet. Romania , Slovakia and Poland is the closest I've been. Also been to Serbia Bosnia ect.

Now tell me how this is relevent.. :coffeeread:

Visit Moscow and St. Petersburg and then visit everywhere else in Russia. It's like night and day. All those billionaires and wealth are in two spots. Your impression Russia is rich and the people you talk to impressions are they're not rich are both right and both wrong.

That’s wasn’t his point though Billy. It would be like walking through downtown New York then visiting one of the many shit hole towns and cities in the US. GDP OR PPP wouldn’t change.

Well then we might as well brag how successful china is with their huge economy, GDP and amount of billionaires they have. I doubt most people would consider China a success since MOST people living there aren't successful. Shit holes are in every country. In some countries, it's rare. In others, it's the norm.

The best way to judge success of a nation is watching people vote with their feet. For example. How many Syrians chose to flee to Italy compared to Syrians fleeing to Russia? When people have choices, observe where they prefer to go because they do have an idea on which countries are successful and which are not. The amount of fossil fuels and billionaires living in a country doesn't factor into their decision.

I don’t think he was even trying to brag, he was pointing out that it’s in better shape than the west gives it credit for.

The Syrian argument is just stupid. They flee to Italy so they can make a relatively easy journey to other European countries who throw money at economic migrants, I mean refugees. Russia welcomes them too but they’d have to work hard for basic conditions. The British government openly posts online how much they’ll pay failed asylum seekers, why would you go to Russia if you’re on the take?

Nothing to do with gdp.

Offline SL0413

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #13 on: January 08, 2019, 04:39:04 PM »


The Syrian argument is just stupid. They flee to Italy so they can make a relatively easy journey to other European countries who throw money at economic migrants, I mean refugees. Russia welcomes them too but they’d have to work hard for basic conditions. The British government openly posts online how much they’ll pay failed asylum seekers, why would you go to Russia if you’re on the take?

Nothing to do with gdp.


Sorry, no.

https://www.aljazeera.com/indepth/features/russia-refuses-give-refugee-status-syrians-180116095003651.html

https://www.voanews.com/a/russia-an-unwelcoming-place-for-syrian-refugees/3569671.html




Online dcguyusa

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Re: The great myth about the alleged small size of Russia's GDP
« Reply #14 on: January 08, 2019, 05:44:16 PM »
I think that most refugees go to a particular area because either the route is the most convenient or there are "snake heads" that provide the transportation service to move them to another area, regardless of the economic situation of the other area.  As long as the new area is "safer" than the departing area, then you take your chances.  As for Russia welcoming Syrian refugees, what about the Syrian Civil War?  Why would Russia accept "enemies" of Assad to their country?  Going there could mean getting sent back home and then get "eliminated".   :duh: