.GlenPearson: The Russia We Don’t Know
I recall growing up in Calgary in the late-1950s when a neighbour began digging a bomb shelter. He wasn’t the first and wouldn’t be the last. Clearly, the Soviet Union had designs on world domination, and vehicles like the movie industry or arms suppliers were quickly forced to respond. Nikita Khrushchev was the Soviet leader, and his ambitions spread fear in other countries, Canada included.
Russia’s designs still hover over the rest of the world, but it isn’t the dark shadow of the world it once was. We got hints of it recently when Wagner head Yevgeny Prigozhin came within a few miles of Moscow in a failed attempt to grasp more power. Almost overnight, Putin’s hold on the country wasn’t a sure thing. His military arsenal has been unable to defeat Ukraine. Yes, he has nuclear weapons, but their implementation would be suicidal and forever seal his fate in history.
Russia’s economy is beginning to crater despite its vast oil and natural gas reserves. Russia’s debt is expected to hit half a trillion dollars soon, which will take up 25% of the country’s GDP. Last year, Russia defaulted on its debt for the first time since 1918. The shortages at stores are well known and the mood of its people gets darker with each new development.
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