Potemkin GDP: Vladimir Milov on why Russia’s “soothing” economic indicators are not to be trusted

Summing up the economic results of the year, many Russian economists say that “everything is not so bad”, referring to the usual indicators, such as GDP of the rates of unemployment, inflation or exchange of the ruble. Judging by these, “GDP has declined less than expected,” unemployment and inflation are virtually nonexistent, and the ruble has “stabilized,” but does this really mean that the country is not in economic crisis? Vladimir Milov explains why these indicators are irrelevant at a time of war, the crisis is already in full swing (even if the average citizen cannot see it yet), and the payback for Putin's military ambitions will be dire for Russians.