The Russian government, faced with low oil prices, a weak ruble, and a big budget, has been depleting its cash reserves and could run out of money within a year.
The government’s reserve fund is designed to cover shortfalls in the national budget at times of low oil and gas revenues.
Russia’s 2016 budget is based on the assumption the country would be able to sell its oil for $50 per barrel. But the average oil price in the first eight months of the year was less than $43 per barrel. Oil now makes up just 37% of all government revenues, compared to roughly 50% just two years ago.
When their reserve funds run out, they will then dip into another fund reserved for pensions and investment projects. Sounds familiar, doesn’t it? Kind of like the approach the big Democratically controlled U.S. cities like New York have used to continue to spend money they didn’t have.
It is interesting to compare Russia and China these days, especially considering the state of both of their space programs. Despite the fact that many say that China’s success is hollow, they have still been able to fund and build what is now a very vibrant and new manned and planetary space effort. Russia however cannot build anything new, and is now faced with reducing its ISS crew complement because it can’t afford to launch the supplies required for three people.
It will be very interesting to watch this story in Russia unfold.
Now available in hardback and paperback as well as ebook!
From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space
, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.
does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.
“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.
All editions available at Amazon, Barnes & Noble, and all book vendors. The ebook can be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner. Note that the price for the ebook, $3.99, goes up to $5.99 on September 1, 2022.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95). Just email me at zimmerman @ nasw dot org.