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How a Recession Can Impact Personal Finances
Recessions can have a negative impact on personal finances for a lot of people.
Accordingly, we think in metrics and mathematical terms. Economically speaking, there is no equivalency between the US and Russia.
Militarily speaking, Russia is a powerful country; some might say even on par with the US. We are economists, however, not politicians. Accordingly, we think in metrics and mathematical terms. Economically speaking, there is no equivalency between the US and Russia.
We use the below chart in our economic presentations to individual companies, in board rooms, in sales meetings, and with trade associations. It shows that, measured by GDP, the USA is 24.3% of the world’s economy, and Russia is 1.9%. From an economic perspective, Brazil has more of an equivalency claim.
Ten reasons why any claim of economic equivalency between the US and Russia cannot be true?
- China
- Japan
- Germany
- United Kingdom
- India
- France
- Brazil
- Italy
- Canada
- South Korea
All larger than Russia but smaller than the US.
Even looking within the US, California and Texas are each individually bigger than Russia.
We are developing a new service in which we rank all 50 states according to selected criteria. Based on size alone as well as ease of doing business and getting profits “out,” both California and Texas strike us as more appealing business opportunities than Russia.