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America’s crazed proxy war on Russia is destroying Ukraine’s economy

Walt Zlotow, West Suburban Peace Coalition, Glen Ellyn IL  7 Apr 24

I’m no economist. But you don’t need to be one to figure out the economic catastrophe the US has imposed on its Trojan Horse Ukraine in its lust to weaken Russia.

Most opponents of this endless US debacle focus on the hundreds of thousands dead Ukrainian soldiers without a single US death to weaken, isolate Russia.

But we should not ignore the economic basket case Uncle Sam has created, essentially degrading life for every Ukrainian not yet killed.

Since goading Russia into invading 26 months ago, Ukraine has ceased to exist as an economically independent nation. Its exports have largely vanished, its imports have exploded. Ukraine has gone from a surplus exporter to a massive importer. That dries up foreign currency making the paying for further imports, even the national debt, increasingly problematic.

Exports plummeted by 17% and 30% respectively in ’22 and ’23. Imports? More than doubled since America’s disastrous, losing proxy war crossed the Red Line to invasion.

Ukraine now spends half its GDP on defense that’s accomplishing nothing but more soldier cemeteries and spiraling economic collapse. Its borrowed over $40 billion in last 2 years, a 200% increase compared to the previous 10 years. Its external debt is now 90% of GDP and heading north to 140% by 2026 according to EU estimates.  

All this could have been avoided had the US realized 33 years ago that the Soviet Union’s demise meant the true end to the Cold War. Now, having turned the Cold War into a Hot War destroying Ukraine, America’s crazed leaders, including most Democrats and Republicans, lust for another $61 billion in weapons that will prolong the flow of red blood and red ink.

And the Big Fool in the White House just says ‘Push on.’ 

April 8, 2024 - Posted by Christina Macpherson | business and costs, Ukraine, weapons and war