Sometimes the Best Thing to Do Is Nothing At All

After pointing out how much US and EU sanctions have backfired, someone asked me what I would do.

I responded, why do I have to do anything? 

The urge to do something should not be so intense that it overpowers analysis as to whether any actions can possibly work.

It’s Complicated 

Eurointelligence addressed the issue in a post simply called It’s Complicated 

The idea of separating the world into goods guys, and bad guys is historically relatively new. The first time we remember ever hearing this phrase was from Bruce Willis, whose career has just ended due to an illness. We think this is an appropriate moment to reflect on binary value judgements in politics.

A war crimes trial can only happen if Russia loses the war, if there is regime change in Russia, if the new government is democratic, and if said government decides to extradite its previous leaders. This is not going to happen. For starters, most wars don’t end with a clear winner and loser. This will be one of them. Ukraine was successful in defeating the Russian offensive from the north, but Russia’s campaign is succeeding in the southeast. Remember the experienced retired generals who predicted that Russia was facing imminent defeat. The Russian campaign went badly, but they are still fighting. The most potent Russia weapon is not the nuclear bomb, but patience that outlasts the short attention span of western news media. Folks on twitter tend to treat this war like football match and who are getting impatient because the referee hasn’t blown the whistle yet.

The reality is that it is complicated. We noted some of our readers are confused by criticism of the western sanctions and our expectations that Russia will be able to get through this in a better shape that widely expected. We are no expert in Russian politics and military campaigns, but we know a thing or two about our own western pain thresholds, and the limits of our solidarity.

What we do see instead of a Russian defeat is that Ukraine and the west will eventually cut a dirty deal with Putin.

If we cannot even get ourselves to end gas imports from Russia, there is no way that we can inflict a defeat on Putin. We give him the euro revenues he needs to fight his war, and the time to make himself economically less dependent on us. If you hyperventilate about something, it should be the weakness of the EU that choose sanctions not with any strategic purpose, but as a virtue-signalling exercise.

The realism we are advocating is the recognition that nobody is winning this war. We have to focus on second and third best outcomes.

Eurointelligence cited Mike Mazarr Senior Political Scientist at the RAND Corporation. 

“Many realist scholars opposed the Iraq war. They seek to *avoid* avenues to death + destruction, not treat such awful outcomes as OK,” said Mazarr in a 16 series Tweet.

Here are the two key Tweets.

Sometimes not intervening is the right choice, despite the suffering underway. Sometimes, not fighting the bigger war is the *only* moral choice.

President Biden on Putin

On March 26, President Biden proclaimed “For God’s Sake, this Man Cannot Remain in Power”

The Wall Street Journal and perpetual warmongers agreed. But Biden’s staff quickly backtracked on his controversial statement.

A White House official said “He was not discussing Putin’s power in Russia, or regime change.”

If you agree with the statement as made, please tell me how you enforce it. Short of nuclear war, there is no action the US or EU can do to back up the stance. 

I suppose Putin might die of a heart attack or killed by his staff, but neither is likely. Pragmatically speaking, I agree with the Eurointelligence assessment “the west will eventually cut a dirty deal with Putin.”

Limits of Western Pain Thresholds

Meanwhile there are limits to the pain threshold in the West, but especially the EU.

Many EU nannycrats refuse to accept reality. Guy Verhofstadt is a prime example.

“Stop Imports NOW”

What a hoot. Yesterday the EU failed to get agreement to even ban coal from Russia let alone natural gas.

Even more to the point, it’s futile to try.

Misguided Souls Still Do Not Understand This Simple Truth: Sanctions Don’t Work

On March 29 I pointed out all the loopholes in  sanctions on Russia, For discussion, please see Misguided Souls Still Do Not Understand This Simple Truth: Sanctions Don’t Work

When have sanctions ever dislodged anyone?

Q: Venezuela?
A: No

Q: Iran?
A: No?

Q: Cuba?
A: No?

Q: Any Country?
A: No

Certainly doing nothing is better than backfiring sanctions, unless of course your goal is nuclear war with Russia. 

Not Working vs Backfiring

Sanctions that simply fail to work are relatively harmless. The costly sanctions backfire in big ways. 

For example, Putin Will Collect a $321 Billion Windfall Partially Thanks to Sanctions

Also note the global energy disruptions.

Global map from Nations Online Project, annotations by Mish

Please consider De-Globalization: New Supply Chains Are Inefficient and Will Drive Up Inflation

Sanctions are typically a lose-lose proposition. In this case, the EU and Russia are both hammered. 

Yet, the battle cry is on for still more sanctions even though the EU cannot even agree to stop coal. 

Take out Putin? How? 

It’s a bitter pill for the interventionalists, but sometimes the best thing to do is nothing. 

By the way, US meddling led to these events in the first place. For discussion, please see What’s the Real Background Story Behind Russia’s Invasion of Ukraine?

This post originated on MishTalk.Com.

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Mr. Purple
Mr. Purple
2 years ago
100% agree Mish, good post.
worleyeoe
worleyeoe
2 years ago
Mish,
You didn’t come close to taking up my challenge. While I do appreciate your response to my comment a few days ago, there’s absolutely zero substance here in terms of what are THE REAL ALTERNATIVES to sanctions and the like.
Anyone can string together a handful of speculative points as to the lack of umph of EU & Biden sanctions. Now, explain what plan B is for both China and Russia. Please spend more time on China, our mortal enemy.
Thanks!
Jay
Christoball
Christoball
2 years ago
Dizzy Gillespie – “The sign of a mature musician is knowing what not to play.”
If you don’t know which note to play don’t play any.
Christoball
Christoball
2 years ago
Reply to  Christoball
Dizzy Gillespie -“It’s taken me all my life to learn what not to play.”
Casual_Observer2020
Casual_Observer2020
2 years ago
I would not have choked off the local Russian economy as much but would have choked off Putin and his assets directly first. If they would have seized all overseas assets of oligarchs and Putin but continued using the money to for the functioning of supply chains that let the Russian economy continue to operate, they would have curried more favor with the Russian people to overthrow Putin and his cronies. Instead of treating Putin like a dignified leader, they should have treated him like Saddam Hussein. As I recall, the first thing the US did was cut off money to Saddam and his family and closest cronies. I guess they are afraid that a guy that walks around with direct controls to nuclear ICBMs in a briefcase might get pushed too far.
Jojo
Jojo
2 years ago
Sanctions on Putin and the oligarchs aren’t going to do much at all. Each likely have hundreds of millions, if not billions, in cash (US $$), gold and other valuables. And you can’t sanction anything that is in Russia or China or various other countries that remain affiliated with Russia.
Casual_Observer2020
Casual_Observer2020
2 years ago
Reply to  Jojo
Not sanctions. Asset seizure. Seizing foreign bank accounts putin and his cronies send their money out of Russia
Esclaro
Esclaro
2 years ago
I think Neville Chamberlain made these same arguments. I guess we should have done nothing with Hitler.
Mr. Purple
Mr. Purple
2 years ago
Reply to  Esclaro
Conversation starter — Hitler had no nukes.
Jojo
Jojo
2 years ago
The Bear Breaks Down: Andrei Soldatov on Russia’s Self-Destruction
“When you have a guy in the Kremlin who is being absolutely delusional about the real situation in Ukraine, you can’t speak in terms of a coherent foreign policy.”
Jonathan Tepperman
Apr 1, 2022
Webej
Webej
2 years ago
We give him the euro revenues he needs to fight his war, and the time to make himself economically less dependent on us.
See, this is the problem with the West, still thinking it is the Master, and Russia must come to heel.
If Russian energy exports are halted tomorrow, the European economy will collapse, but Russia’s won’t.
It is far easier to run an economy with different financial arrangements than without energy and petro-chemicals … it would literally take you back to an economy like Mozoambique.
Ukraine was successful in defeating the Russian offensive from the north
Was it? They didn’t even manage to hit that 40 mile long convoy, not from the air, not with artillery, and not even with special forces or infantry with Javelins. The Russians withdrew, without even bombing Kiev, or taking out the water, internet, electricity, sewage, transit or rail. The idea that the Russians were even trying to “defeat” Kiev assumes you know what their tactics & strategy is, but we only have Russia’s word which is not inconsistent with events: They wanted to pin down Ukranian army units while enveloping and cutting off their main force in the Donbas, as they systematically debilitated their military capability (fuel, depots, ammunition, communication & control, navy, air force, air defense, logistics, resupply … all gone!)
Casual_Observer2020
Casual_Observer2020
2 years ago
Reply to  Webej
The media keeps trying to push the narrative that Ukraine is somehow winning. If this is what winning looks like, I’d hate to see what losing looks like. Russia is set to take over about 1/3 of the Ukraine soon by simply bombing people to death. They will then clean up the mess and repopulate with more Russians. Putin may stop the incursion (not war) himself but if his MO continues, he will start it again in a year or two after things have settled down. More likely after 2024 when a Republican gets into office and gives him carte blanche over the rest of Ukraine.
Jojo
Jojo
2 years ago
With the help of the West, Ukraine is expected to continue fight to regain the territory taken by the Russians, including Crimea. Doing this will make the area look like a WWII aftermath, which is what Zelinski and his people have been alluding to.
Russia must be pushed back to the pre-2014 boundaries and then Ukraine must be admitted to NATO to ensure future protection against any other Putin efforts to continue to claim Ukrainian territory.
Webej
Webej
2 years ago
Reply to  Jojo
Have you any idea how the regions and borders of the Ukrainian SSR was put together, and the groups thrown together in this Administration? The Ukraine was simply an administrative unit of the USSR and included a lot of disparate elements, including Poles & Hungarians in land Stalin confiscated. The idea that these borders are sacrosanct is crazy. Do you think Russia would abandon Crimea which has been Russian for 240 years, and turn Sebastopol over to NATO for their port redevelopment plans? Why not turn Vermont over to Quebec, or Lousianna to France, or Ohio to the native people?
On the other hand, the US must be pushed out of Al-Tanf and Al-Hasakah so we can go back to the pre 2013 borders.
How is Ukraine supposed to defeat Russia and to continue to fight.
Do you prefer to see 60,000 Ukrainian boys bombed to smithereens instead of just surrendering in the face of reality?
What’s the good in that?
LM2022
LM2022
2 years ago
Of course, former Russian president Dmitry Medvedev recently stated that the goal is a ‘pro-Russia empire’ – which stretches all the way from Portugal to Vladivostok. One might reasonably ask how bunch of old Russian drunks plan on achieving this, but this is their stated goal. We should do nothing?
Webej
Webej
2 years ago
Reply to  LM2022
I would like to see the quote with the literal word empire in it.
Until then, I do not think he meant empire but economic & trade integration and cooperation, which is what the Chinese want to see as well.
An integrated Eurasian space without an Anglo-American toehold to create chaos & division.
davidyjack
davidyjack
2 years ago
If Poland was invaded should US do nothing?
Mr. Purple
Mr. Purple
2 years ago
Reply to  davidyjack
Isn’t Poland in NATO? Has Poland been invaded?
RonJ
RonJ
2 years ago
This could all have been avoided by not overthrowing Yanukovich.
davidyjack
davidyjack
2 years ago
Reply to  RonJ
What about Georgia?
Webej
Webej
2 years ago
Reply to  davidyjack
Could easily have been avoided if Georgia had not attacked, and had not been retooled and egged on by NATO, American influence and Israeli trainers. Nothing would have happened had Georgia not attacked.
davidyjack
davidyjack
2 years ago
Reply to  Webej
Your philosophy seems to be Blame everyone but PUTIN!
Webej
Webej
2 years ago
Reply to  davidyjack
I blame it all on the evil global hegemon who thinks they have to be in charge of everything.
RonJ
RonJ
2 years ago
Reply to  davidyjack
What about Georgia? Georgia invaded South Ossetia to regain control of the territory. Russia pushed them back out, invading part of Geogria in the process. Russia did not take over all of Georgia and absorb it into the Russian federation.
All the time that Putin was in charge, he never grabbed Crimea away from Ukraine, until Yanukovich was overthrown. That incident changed everything.
World War 1 didn’t happen until a Serbian activist murdered the Archduke Ferdinand. Within weeks the Great War began.
thimk
thimk
2 years ago
“let it be” : McCartney >>
Naphtali
Naphtali
2 years ago
The embrace of collective punishment by the west does not sit well with the Russian people. This, of course, was a favorite administrative control tactic of the Nazis. The west is playing into the hands of the anti-nazi meme. As time progresses, and the Russian people experience more deprivation at the hands of the west, they will become stronger adversaries.
ColoradoAccountant
ColoradoAccountant
2 years ago
“America should not wander the world looking for monsters to destroy.” Paraphrasing John Q Adams
Tony Bennett
Tony Bennett
2 years ago
The apple did not fall far.
I’m on the back 9 of McCullough’s John Adams.
Carl_R
Carl_R
2 years ago
I think its wrong to say that sanctions never work. Sanctions do not lead to regime change, but they do hurt the countries in question, and limit their threats. In a world of global trade, the effect of sanctions today is much less than the effect of a blockage and siege a few hundred years ago, but certainly you can’t look at countries like Cuba and Venezuela and see them as economically prosperous.
I think the point that people forget is that global trade benefits everyone, or people wouldn’t do it. If you place limits on trade, such as “don’t trade with Country X”, that reduces global trade, and thus hurts everyone. So, yes, sanctions always hurt not only the country sanctioned, but everyone else, too. Does that mean it should never be done? No. Sometimes you have to stand on principles, whether as an individual, or as a country. For example, let’s say that I was treated poorly by some company, and then I refuse to do business with them anymore. Does that hurt them? A little. Does it hurt me? A little. But, sometimes you have to stand on principle.
I don’t have any illusions that the sanctions will cripple Russia. In fact, they may help Putin consolidate power by justifying a crackdown against dissent. Does that mean that we should just keep buying oil, gas, and uranium from them, and supporting them? Sure, we should if we are content to let them continue to periodically invade neighbors and expand. Or does it mean that we should be willing to accept some inflation, and find other sources, in the hopes that it weakens Russia enough that they decide in the future that it’s better to not invade neighbors? Personally, I favor reasonable sanctions such as limiting trade with them, but not unreasonable ones, such as seizing things that you have no right to seize, such as freezing central bank assets and private assets of their citizens. I am willing to accept the costs of the reasonable sanctions, meaning, some inflation and supply disruptions. I’m not willing to accept the costs of unreasonable ones, such as destroying the value of the dollar.
ZZR600
ZZR600
2 years ago
I agree. There is not a single US intervention of the past 30 years that has not made things worse. Prime examples are Iraq, Syria and Libya. Probably over a million dead who would still be alive today.
KidHorn
KidHorn
2 years ago
Reply to  ZZR600
Because the US doesn’t care about people in foreign countries. Protecting democracy and civilians is just a cover for our true objectives. You can include us arming SA so they can slaughter people in Yemen.
Dutoit
Dutoit
2 years ago
What are the “sanctions” concerning Russian uranium ? Is it true that US still buys it ?
KidHorn
KidHorn
2 years ago
Putin is 73. Russians typically die around age 60, so his age is like 90 in western years.
None of us know the truth about Ukraine. There are a few organizations who do and among them is the KGB, CIA, and European spy agencies. And the spy agencies have informed their leaders of the truth. I don’t know the truth but I’m 99% certain it’s not what our state department says or what any main stream media outlet is telling us.
So, we look at decisions made by politicians and think they’re making the wrong decision, but we really have no idea what their decisions are based on.
Anon1970
Anon1970
2 years ago
Reply to  KidHorn
Putin was born in Oct. 1952 according to Wikipedia. That makes him 69.
Webej
Webej
2 years ago
Reply to  Anon1970
He does not look like he is diabetic, suffers high blood pressure, or imbibes alcohol.
Biologically speaking, he might well last another 20-30 years.
Casual_Observer2020
Casual_Observer2020
2 years ago
Reply to  KidHorn
There are multiple photos with a thyroid cancer doc that travels with Putin no matter where he goes. That is a tipoff. Putin also looks like he has put on about 30 lbs over the last couple of years. I say he has cancer and is being treated with whatever and is putting on weight because of it. I think his time is closer to ending than him surviving another 20 years. We are fortunate he doesn’t have a son that can take over the way Assad did in Syria. Well at least no older son we know of. That may be a surprise that no one has taken into account. The state department is just a PR operation at this point. Pretty sure the spy agencies know way more and are working on multiple fronts to overthrow Putin which is why he doesn’t really go anywhere or trust anything.
Mr. Purple
Mr. Purple
2 years ago
Reply to  KidHorn
Plato’s Allegory of the Cave informs most discussions about politics.
Zardoz
Zardoz
2 years ago
I don’t buy Russia being threatened by NATO. No nuclear armed country has ever been invaded, and they have 6000 nukes, at least a few dozen of which probably work correctly.
They are invading to expand Russia, and they aren’t going to stop with Ukraine.
Our options are crappy, but appeasement will just reduce our options.
KidHorn
KidHorn
2 years ago
Reply to  Zardoz
So, it’s just a coincidence that Russia invades areas where there’s a lot of NATO/Western activity that is clearly anti-russian. So, how come Russia is only invading areas near Europe and not say Kazakhstan?
Russia has a long history of being invaded from their west. Understandably, they want a buffer on their western flanks. And even if they don’t get invaded by an army, they don’t want an enemy right on their border from which it would be easy to launch espionage attacks and undermine them.
Zardoz
Zardoz
2 years ago
Reply to  KidHorn

Again. They have nukes. They have stated they are willing to use them. Nobody’s going to invade Russia.

Russia is on its second invasion in a decade. They are flat out lying about being threatened.
Scooot
Scooot
2 years ago
Reply to  Zardoz
Agreed. We have the best excuse we could possibly want to invade Russia now and we’re doing our best to tread carefully and avoid it.
danaceve
danaceve
2 years ago
Reply to  Zardoz
Would America feel threatened with Russian or Chinese nukes on our borders?
Carl_R
Carl_R
2 years ago
Reply to  KidHorn
Russia did invade Georgia and Chechnya, neither of which is a buffer between the Russia and Europe, so your point seem erroneous.
KidHorn
KidHorn
2 years ago
Reply to  Carl_R
In Chechnya, Russia was responding to an area trying to separate from them and later they were fighting against Islamic extremists. And Georgia installed a pro-western government. Same as Ukraine.
Carl_R
Carl_R
2 years ago
Reply to  KidHorn
So, you’re saying that any time a country near Russia wants to have a government that is not a Russian puppet, it’s OK for Russia to invade them, and neither a democracy nor an islamic government should be allowed?
RonJ
RonJ
2 years ago
Reply to  Carl_R
A democratically elected government in Iran was overthrown. Same in Chile. Not by Russia.
Carl_R
Carl_R
2 years ago
Reply to  RonJ
I’m not in favor of anyone overthrowing someone else’s governments.
If, on the other hand, you go with the “might makes right” rule, then Russia has every right to invade Ukraine if they don’t like the Ukrainian government, so long as they have the power to do so. Similarly, if Ukraine somehow manages to push the Russian army out of Ukraine, is there any reason they should stop at the border? Suppose they decide to undertake the de-nazification of Russia, or at least part of it, and establish an independent country in the western part of Russia with a puppet government. Would that also be OK?
Webej
Webej
2 years ago
Reply to  Carl_R
You forget that official OSCE & UN reports tell us Georgia started the shelling. It took the Russians several days to mount a counter-attack, losing scores of peace-keepers stationed there.
grazzt
grazzt
2 years ago
Reply to  Zardoz
Russia’s issue is NATO positioning so-called missile defense systems in Eastern Europe. Even if these we simply defensive systems (said to have been initially installed to protect against Iran, if you believe that) they provide the US and NATO a greater ability to conduct a first strike offensive, hoping to wipe out most of Russia’s nukes and then have the ability to shoot down any stragglers with the defensive missile system.
But the bigger issue now with the systems is that the air-to-air defensive missiles can be swapped out with intermediate range nuclear missiles (since the US has pulled out of the INF Treaty) and then Russia gets to guess when any of these systems are fired (tested) if they are simply air-to-air tests or if a nuclear attach has been initiated. And they have less than 15 minutes to make that decision now with these being deployed in Poland and Romania. Russia’s fear was that these systems would be moved forward to Ukraine, further eroding any decision time.
US and NATO currently have ‘first strike policies’ and the US is going to spend over a Trillion dollars upgrading it’s nuclear arsenal. Russia definitely has reasons to fear. (just like the US feared when the USSR put missiles in Cuba)
US would not allow Russia to form any type of alliance with any American or Caribbean nation, but is fine for US and NATO to move right up to Russia’s border. And NATO is not simply a defensive union, just ask Yugoslavia and Libya.
RonJ
RonJ
2 years ago
Reply to  Zardoz
Georgia invaded South Ossetia, to regain control, which resulted in Russia invading Georgia. Russia did not overthrow the Georgian government and reabsorb Georgia.
For all the time Putin was in power, until Yankovich was overthrown, Putin did not invade Ukraine. Putin hasn’t invaded Belarus either, to reabsorb it.
Webej
Webej
2 years ago
Reply to  RonJ
They reacted to a NATO armed and instigated attack.
Note, that they left Georgia after they were done, just as they left Kazakhstan after the last color revolution attempt.
NATO is not harmless … there were already detailed plans for the redevelopment of Sebastopol as a NATO navy base.
NATO is a de facto US zone of influence, and the US is not withdrawing anywhere around the globe, except for Vietnam & Afghanistan.
Carl_R
Carl_R
2 years ago
Reply to  RonJ
South Ossetia is a part of Georgia, so Georgia was acting withing the confines of it’s own borders. Georgia did not invade Russia. Russia invaded Georgia. They did not overthrow Georgia, however they did lop off a piece of it, as they did later when they took Crimea from Ukraine. Now they have set their sights higher, to take all of Ukraine. I presume that, if successful, at some point they will also want to take all of Georgia.
Webej
Webej
2 years ago
Reply to  Carl_R
Except the Ossetians do not agree. Ossetia straddles the international border, which came into existence on the basis of administrative districts in the former communist USSR (where Gorbatchev was the first actual ethnic Russian to lead it).
danaceve
danaceve
2 years ago
Reply to  Zardoz
The Russians want to take over all of Europe I tell you!! Oh please…this 74 y/o veteran heard the same BS back in the 1960’s when the US govt was screaming “we have to stop those Commies over there or they’ll take over the world.”
Webej
Webej
2 years ago
Reply to  danaceve
NATO predates the Warsaw pact by years !!
Doug78
Doug78
2 years ago

Mish sees
this as a purely local affair and doesn’t understand why so many people are
upset about Russia’s invasion of Ukraine. His preoccupation is economic and not
political which is normal here because this is above all an economic blog and
seeks to see how economics affects politics and not how politics affects
economics.

Before the
invasion, economics primed over politics. There were some moderate sanctions on
Russia but everyone could and did do business with Russia even with them
because they were not onerous. The invasion radically changed how Europe viewed
the world. Most like living in a liberal democracy, warts and all, and not want
to live in a Europe dominated by Russia because they have a graphic example of
what would mean for their future and that of their children.

I believe
Putin reads Eurointelligence as well as Mish. In it he would have been
told that Europeans will always give in to Russia because for Europintelligence
Europeans think only about business and that they are incapable acting in a way
that goes against doing business with Russia. They were wrong. Europe went
against their short-term economic interests in order to secure their long-term existence
in a type of society that they want.

Mish
describes his position accurately. He “deplores” Russia’s actions but he doesn’t
really care. That is an honest answer spoken like a true Libertarian.

Tony Bennett
Tony Bennett
2 years ago
Reply to  Doug78
Germany still buying Russian energy.
Jojo
Jojo
2 years ago
Reply to  Tony Bennett
How Germany Became Putin’s Enabler
April 7, 2022
Paul Krugman
Vladimir Putin’s war of aggression runs on the money Russia gets by selling fossil fuels to Europe. And while Ukraine has, incredibly, repelled Russia’s attempt to seize Kyiv, Putin won’t be definitively stopped until Europe ends its energy dependence.
Which means that Germany — whose political and business leaders insist that they can’t do without Russian natural gas, even though many of its own economists disagree — has in effect become Putin’s prime enabler. This is shameful; it is also incredibly hypocritical given recent German history.
The background: Germany has been warned for decades about the risks of becoming dependent on Russian gas. But its leaders, focused on the short-run benefits of cheap energy, ignored those warnings. On the eve of the Ukraine war, 55 percent of German gas came from Russia.
There’s no question that quickly cutting off, or even greatly reducing, this gas flow would be painful. But multiple economic analyses — from the Brussels-based Bruegel Institute, the International Energy Agency and ECONtribute, a think tank sponsored by the Universities of Bonn and Cologne — have found that the effects of drastically reducing gas imports from Russia would be far from catastrophic to Germany.
As one member of the German Council of Economic Experts, which fills a role somewhat similar to that of the U.S. Council of Economic Advisers, put it, an embargo on Russian gas would be difficult but “feasible.”
The ECONtribute analysis offers a range of estimates, but their worst-case number is that an embargo on Russian gas would temporarily reduce Germany’s real G.D.P. by 2.1 percent. I’ll put that number in context shortly.
Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Doug78
Many like living in a conservative democracy and are getting sick and tired of liberals going way out of their way to push their ideology on everyone that doesn’t buy into their dreams.
Doug78
Doug78
2 years ago
Reply to  Lisa_Hooker
Then vote for those who want to change the policies you don’t like and if you get enough votes then it can happen. In a liberal democracy you can do this. In Putin’s vision of the world you can’t. Which system do you want to persist? It’s as simple as that.
Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Doug78
I see. Vote. Like Germans did in 1933. It’s not so cut and dried as you assume.
Doug78
Doug78
2 years ago
Reply to  Lisa_Hooker
I see you prefer the simplicity of one man ruling everybody else to the messiness of liberal democracy.
Webej
Webej
2 years ago
Reply to  Doug78
How do you know exactly what Mish thinks?
Reminds me of all the people who purport to know what Putin and the Russians think, but don’t take into consideration what they are literally saying.
Doug78
Doug78
2 years ago
Reply to  Webej
He tells us what he thinks when he writes. That is his job, to tell his readers what he thinks about something.
thimk
thimk
2 years ago
Yes doing nothing is often the least explored option and perhaps the most viable. Also I once had a wise old boss that once said to me : thimk , ” you can’t regret something you DIDN”T say ” .
Zardoz
Zardoz
2 years ago
Reply to  thimk
That’s absolutely not true. Many people regret not saying things, and it’s often too late to correct the error.
Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Zardoz
It’s the difference between observing misfortune (due to things unsaid) and being the cause of misfortune. Too often those thereby causing misfortune do not shoulder the subsequent responsibilities.
Jojo
Jojo
2 years ago
Reply to  thimk
“thimk , ” you can’t regret something you DIDN”T say ” .”
——–
Wrong! For instance, if you know a man beats his wife regularly and eventually kills her, are you responsible because you chose to say nothing to him or to report him to the police? There are many more common examples.
Mr. Purple
Mr. Purple
2 years ago
Reply to  thimk
“A foolish consistency is the hobgoblin of simple minds.’ — R.W. Emerson
What’s required is critical thinking, not blind adherence to dogma. Every situation is different. Sometimes action is necessary, many times inaction is best.
Tony Bennett
Tony Bennett
2 years ago
“The urge to do something should not be so intense that it overpowers analysis as to whether any actions can possibly work.”
The initial response – politicians agitating on social media + pulling Russian vodka off the shelves – enough to call it a day.
Anything else (meaningful) would result in harm to US / global economy.
Rather than ratchet sanctions + verbal venom … why hasn’t US stepped in and attempt to broker settlement??
KidHorn
KidHorn
2 years ago
Reply to  Tony Bennett
I think the US wants to put troops in Ukraine and never have them leave. And effectively take control of the country. Like we did in Afghanistan. The reason is so we can keep a wedge between Russia and Europe.
Tony Bennett
Tony Bennett
2 years ago
Reply to  KidHorn
The US has military bases in almost half the world’s countries. MIC won’t be happy till they are in all.
Zardoz
Zardoz
2 years ago
Reply to  KidHorn
Europe doesn’t need a wedge… Russia is a diseased, failing society, and Europe would have nothing to do with them if it weren’t for the petrochemicals.
KidHorn
KidHorn
2 years ago
Reply to  Zardoz
Russia is part of a land bridge that connects Asia to Europe. And there are roads and railroads connecting the two being constructed right now. Don’t you think Europe being able to get Asian goods in a week by land instead of months by boat would be appealing to them?
Zardoz
Zardoz
2 years ago
Reply to  KidHorn
So … Russia aspires to be a truck stop?
Jojo
Jojo
2 years ago
Reply to  Tony Bennett
I believe we were doing so behind the scenes all the way through Russia amassing its troops on Ukraines borders. Other countries were doing similar. Simply because YOU didn’t hear about it doesn’t mean that it wasn’t happening. Reports indicated that Putin was inflexible on his demands.
vanderlyn
vanderlyn
2 years ago
i’m an advocate for US non intervention, and taking care of our own problems internally, and having an actual department of defense, instead of department of offense. however there are rare times sanctions worse. south africa and other regimes in africa. also one could argue the northern irish troubles were helped to cease with sanctions. also i might note with sarcasm, CA has been sanctioning a whole host of fellow US states for a variety of reasons. boycotts and sanctions have brought states in US to heal, however silly the subject is. bathrooms and basketball games…………..to sum up, modern amerika is an unserious group of citizens. i’d wager my wallet 90% of my fellow native borns couldn’t find ukraine or venezuela or even cuba on a map, let alone libya or yemen………..i vote in EU and USA. EU is really dumb. but compared to US citizens, they seem like sun tzu
Greenmountain
Greenmountain
2 years ago
Ukraine as the next Yemen – – – And when the Ukrainians really need our help rebuilding the world will be focused elsewhere
Treepower
Treepower
2 years ago
Sanctions worked in South Africa.
Jack
Jack
2 years ago
Reply to  Treepower
Sanctions worked in Rhodesia as well.
Mr. Purple
Mr. Purple
2 years ago
Reply to  Treepower
Are SA and the former Rhodesia nuclear powers?
Captain Ahab
Captain Ahab
2 years ago
The issue isn’t about doing nothing or something. It’s about perception, and always has been. Being seen as doing the right thing, is more important than actually doing it. Politics by definition.
amigator
amigator
2 years ago
And I was thinking the other day that Biden is actually handling this conflict pretty well because he was doing NOTHING!
KidHorn
KidHorn
2 years ago
Reply to  amigator
I agree. One thing I like about Biden is he seems to be standing firm against the war mongers. At least, so far. But, I’m not sure if it’s him or people around him telling him what to do.
Zardoz
Zardoz
2 years ago
Reply to  KidHorn

Sending tank killer weapons isn’t ‘nothing’ and I’m surprised Russia hasn’t declared it an act of war.

Scooot
Scooot
2 years ago
Wouldn’t “Doing nothing” encourage repeat Russian actions with its other neighbours? The sum of which would probably be a lot worse than now.
lamlawindy
lamlawindy
2 years ago
Reply to  Scooot
Not necessarily. Given the poor logistics displayed by the Russian military, the prospects of being able to carry a thrust further west are questionable.
Scooot
Scooot
2 years ago
Reply to  lamlawindy
In the light of that I’d expect them to retrain and rebuild, so they are stronger next time. In the meantime their neighbours would be clamouring even more to join Nato, thus further encouraging Russia to invade to prevent this?
TexasTim65
TexasTim65
2 years ago
Reply to  Scooot
It seems doubtful they can get much better militarily. To do so would require money (the US spends 20x the amount Russia does) which means a stronger economy and that means more capitalism and less government control. I doubt that’s going to happen in Russia anytime soon so the economy and the military that goes with it will be all they have going forward.
Scooot
Scooot
2 years ago
Reply to  TexasTim65
They seem to find plenty of money to manufacture Nukes. and bear in mind if everyone did nothing in response to this invasion, ie no help with weapons etc, they’d have overcome Ukraine more easily and they’d have Ukraines resources as well.
Zardoz
Zardoz
2 years ago
Reply to  Scooot
We did nothing about crimea, and that situation resolved itsel… oh wait…
Scooot
Scooot
2 years ago
Reply to  Zardoz
and Hungary in 1956 and Czechoslovakia 1968.
Mr. Purple
Mr. Purple
2 years ago
Reply to  Scooot
Those resolved in 1991.
Dutoit
Dutoit
2 years ago
amigator
amigator
2 years ago
Reply to  Dutoit
Yes. I think we have some war crimes of our own!
Zardoz
Zardoz
2 years ago
Reply to  amigator
I was against all the us invasions except desert storm, and after the fact I realized I had been wrong about desert storm.
My country doing horrible things does not mean I have to approve of other countries doing horrible things.
Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Zardoz
Therefore you approve of your country doing horrible things?
Zardoz
Zardoz
2 years ago
Reply to  Lisa_Hooker

Did you not read what I said, or is your critical thinker broken?

Maximus_Minimus
Maximus_Minimus
2 years ago
Reply to  amigator
Oh, just a few, this century that is.
Morn
Morn
2 years ago
The US has demonstrated zero capacity or competence in affecting a positive solution by “doing something” in these types of conflicts for at least 20 years. We have primarily seen “success” in pouring gasoline onto fires, or making people miserable for no justifiable reason (Cuba and Venezuela for instance). So, even if there is a moral case to be made to support the Ukrainian side with material aid or via economic sanctions, there’s just no record to point to that indicates we’ll do anything expect make the situation worse and last longer than it would have otherwise.
Jojo
Jojo
2 years ago
Reply to  Morn
Thanks for sharing. Sadly for you, no one in power cares about your take on the matter.
Morn
Morn
2 years ago
Reply to  Jojo
Wouldn’t expect them to, given the track record of incompetence. I wouldn’t want them to stand in the way of you getting your nuclear engagement anyway. Bombs away!
Jojo
Jojo
2 years ago
Reply to  Morn
TiP; Don’t look at the explosion.
Jojo
Jojo
2 years ago
The question you are responding to should have added that doing nothing was not an option. Not doing anything doesn’t work when you are a politician. Witness the Covid pandemic response, for example, where doing nothing would have been a good approach but was not tenable.
Putin needs to be stopped and the borders of Ukraine restored to those prior to 2014. The USA+NATO should have jumped in feet first by declaring a no-fly zone over Ukraine and expediting the most sophisticated weapons to the country early on, even while Putin was arranging his forces across the Ukraine border in Feb. Doing so, might have deterred Putin.
But if it didn’t and those actions led to WWIII with some nuclear engagement, then so be it.
To do otherwise gives carte blanche to any country to do whatever if wants solely because it holds nuclear weapons.
honestcreditguy
honestcreditguy
2 years ago
Reply to  Jojo
again, we created this mess, we need to stay out of regime change, instilling democracy false hope that here in the US is somewhat a 2 headed snake with same body. You keep wanting to blow up the world and are so far down the path of dystopian nightmares you want us to be just as miserable? Screw that.. Ukraine is a corrupt country, they broke the ceasefire at Donbas on Bidens inauguration, Hunter and Old guy are knee deep in the corruption along with Blinken, Clinton, Obama and the rest of those bolshevik mafia new dems
prumbly
prumbly
2 years ago
Reply to  Jojo
You are quite insane.
Jojo
Jojo
2 years ago
Reply to  prumbly
I believe pragmatic would be a better descriptor.
lamlawindy
lamlawindy
2 years ago
Reply to  Jojo
I wouldn’t describe as “pragmatic” your tolerance (in your original post) of a nuclear exchange & WW3.
Jojo
Jojo
2 years ago
Reply to  lamlawindy
“Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats.”
–H.L. Mencken
lamlawindy
lamlawindy
2 years ago
Reply to  Jojo
Love Mencken!
Speaking of “hoisting the black flag,” Rep. Lance Gooden (R-TX) introduced a bill to allow Pres. Biden to issue letters of marque & reprisal to private citizens so that they can seize Russian oligarch yachts. I don’t think it’s good public policy at this time, but — contrary to many other things that Congress does — it’s actually at least constitutional.
StukiMoi
StukiMoi
2 years ago
Reply to  Jojo
“the borders of Ukraine restored to those prior to 2014”
Because those were magical. For all time. After all, making sure the borders between Russia and Ukraine does not deviate a centimeter or two, is one of the US Government’s enumerated powers and all….
The exact, 2014, position of Ukraine’s borders, are almost as magical as that other important magical fixed point: The exact global temperature which happened to be recorded during those magical days, during “The Summer of Love”, when the exact boomers who would later be handed the largest loot-pile of all from The Fed wantonly robbing the rest, happened to lose their virginity. Fighting any deviation, of even a fractional centigrade, from that magical temperature, is also one of the US Government’s enumerated powers….
We should always ban and bomb and sanction and waste resources, on uncritically fighting for all the things The Man on TeeVee says are such magical things.
Just as we should, always entirely uncritically, cheer for Dear Leader when The Man on TeeVee says Dear Leader is also going to fight for magic things. By throwing other people’s children’s lives, and livelihods, into the ring.
After all, the Constitution is not only a living document. It’s a magical one. It can be whatever Dear Leader, and The Man on TeeVee, says it is!
hmk
hmk
2 years ago
Reply to  StukiMoi
I think I agree with your post but could you please translate it.
whirlaway
whirlaway
2 years ago
Reply to  Jojo
“… WWIII with some nuclear engagement…”

This is the kind of language the DONORcrats are using now. Remember, these are the same folks that *Trump* would get us into a nuclear war.

They have to be kept away from power for at least a decade.
whirlaway
whirlaway
2 years ago
Reply to  Jojo
“To do otherwise gives carte blanche to any country to do whatever if wants solely because it holds nuclear weapons.”

Yes, that is why North Korea saw what the US did to Iraq and Libya, and decided to develop nuclear weapons. The US never invaded North Korea. Coinkidink, doncha think?! 😉

Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Jojo
Nah. The borders of Ukraine must be restored to those prior to 1954.
Lisa_Hooker
Lisa_Hooker
2 years ago
Reply to  Jojo
“To do otherwise gives carte blanche to any country to do whatever if wants solely because it holds nuclear weapons.”
Gee. There’s another country on the other side of the world that’s been doing that since 1945.
Zardoz
Zardoz
2 years ago
Reply to  Lisa_Hooker
Is that a good thing? Should we have more of that?
Jojo
Jojo
2 years ago
Reply to  Lisa_Hooker
Has the USA threatened to use nukes anywhere since 1945? Refresh my memory with some cites please.
But you missed my point. If possessing nukes gives one the ability to do whatever they please because others will fear to react against the possibility that the country MIGHT choose to use their nukes, then by such “logic” we should immediately institute pre-emptive strikes against North Korea and Iran to prevent them from obtaining or further building their nuclear arsenals.
whirlaway
whirlaway
2 years ago
Reply to  Jojo
“Has the USA threatened to use nukes anywhere since 1945? Refresh my memory with some cites please.”

The US has used, countless times, the “nothing is off the table” phrase against countries like Iran. That is code for threatening to use nukes.

The possibility of US attacking their nuclear sites is what made the North Koreans house their weapons under the protection of millions of tons of rock.

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