Recently I was reading an article on Voice of Russia and I noticed these headlines in the sidebar.
-Weaker rouble could entice more companies to set up shop in Russia
-Weakening rouble viewed as prudent decision
-Weak rouble to trigger growth of local industries
Since maybe a couple weeks ago, the ruble started to rebound from its alarming low of over 35 to the US dollar. At present it’s just under 35. Of course this is never a problem for publications like Voice of Russia! Weak currency? It will attract more companies to Russia! They certainly aren’t concerned about issues like private property rights, visa restrictions, sanctions, or corruption. No if the ruble is 35 to the dollar it must mean that everything is really cheap!
This is pretty typical of a lot of the state-sanctioned Team Russia journalism. When there’s a problem they cannot deny or deflect attention from with an inaccurate comparison to another country, the only tactic left in the toolbox is pretending that whatever misfortune has befallen Russia is really an advantage, and those arrogant Western countries will be sorry!
Basically, if a nuclear reactor had a meltdown and wiped out an entire Russian city, Voice of Russia would be writing about how unemployment in small towns is down, or how people are becoming more mobile, or perhaps how Russia is taking a proactive stance against a potential threat of over-population.
Then you’ve got headlines in a similar vein like this one:
-Russia can switch to payments with India, China in national currencies crushing dollar amid sanction
Yeah, we’ve been hearing that for months. In fact you can probably find the same threats that are several years old. It’s just like how the Russian government, in response to Visa and Mastercard pulling out of certain Russian banks, claimed that it already has its own electronic payment system which can replace the two credit card giants. Okay. Where is it? Why weren’t they using it years ago? We keep hearing all these claims about advances which will give Russia more clout in the global economy but we don’t actually see them.