The Russian Economy Has Been Nuked

Over the weekend Vladimir Putin rattled Russia's nuclear sabre. Meanwhile, the west pushed the button. The sanctions are the most rigorous I can remember against any country in my lifetime. Iran, South Africa during apartheid, even North Korea; they all look relatively ok compared to what is going on in Russia. Putin is now radioactive and that is extending to the entire country. This is likely to last a long time. Most of the industrialized world has moved to cut Russia off. The Ruble is one step from being used for toilet paper. The stock market has been closed by the Russian Central Bank to prevent a meltdown. There are reports of near panic buying of necessary comodities in order to unload their money while it still has any value at all. The massive amounts of foreign currency reserves stockpiled for years as a hedge against possible western sanctions are now mostly frozen. Putin does have some gold, which he has also been buying for the last decade or longer. But it's not clear where that is. And even Switzerland has joined the economic blockade. But even if the gold is in Russia, it won't be enough to keep the lights on for long. I feel badly for the Russian people. They can be added to the long list of Putin's victims.