Pat Rice in Short Shorts wrote:Politicians for the most part are no fools, but they prey on fools.
I would suggest that they mostly understand economics well enough, but the quest for power (and the personal enrichment that comes with political power) by pandering to people who do not understand economics for their vote despite it sinking those voters futures accomplishes all their goals.
Ukraine is simply another emotional based effort to launder money that we pay as taxes through proxy warfare and the cut goes back to the politicians and allies.
They have most of the world engaged in virtue signaling at a power puke level rather than actually thinking beyond the narrative we are being fed. It has f**k all to do with saving democracy, how could it be when the western leadership is as or more corrupt than those they demonize. FFS, they demonize anyone who brings up their corruption as being corrupt themselves. Yet the sheep keep voting them all back in.
Did they really understand economics? look at sanctions.
Biden/Boris/EU these sanctions will devalue the Ruble by 50% or more - sounds like a very ill-conceived plan so lets see
Russia is the worlds 2nd/3rd largest oil supplier to a market where supply is constrained by capacity, without it prices must rise.
So at first the Ruble does indeed drop by 35% that's the "fools" you mentioned believing the political nonsense, however very quickly the traders realised that there was no possible way the the West could survive without Russian oil and anyway Asia and Africa would buy it all anyway as the price of alternatives rocketed. The money pilled into Rubles, which right now have not only recovered that lost 35%, but are indeed 20% above where they were before sanctions .... well played Biden/Boris/EU.