🇷🇺 An action by Vladimir Putin could be the catalyst that plunges Russia’s economy into real catastrophe.
A top Russian economist warns it will “die by winter.” 🧵bit.ly/3UGn0Vv
2) ➡️ Last Wednesday, Putin announced a “partial” mobilization ordering 300,000 able-bodied men aged 18 to 30 in the military reserves to fight in Ukraine.
It sparked widespread protests across the country.
3) “I consider it necessary to make [this] decision, which is fully appropriate to the threats we face…to protect our motherland…to ensure the safety of our people and people in the liberated territories,” Putin said last week.
4) In the days that followed, Russian police arrested over 2,300 citizens for protesting, and tens of thousands of Russians have now fled the country to avoid the draft. bit.ly/3UGn0Vv
5) Now, Russian economist Vladislav Inozemtsev is warning that Putin’s mobilization will have “truly catastrophic consequences.”
Including the death of the Russian economy and the downfall of Putin’s regime.
6) 🗣️ “The Russian economy is going to die by winter, I wrote in early March. Now I think I was right,” Inozemtsev said. bit.ly/3UGn0Vv
7) Putin’s mobilization decree has already proved highly unpopular in Russia, prompting mass rallies and protest actions.
8) “The mobilization announced on Sept. 21 was a milestone that really divided Russian history into ‘before’ and ‘after’—an event that began the final countdown of Putin’s era,” Inozemtsev said. bit.ly/3UGn0Vv
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2) Since Biden announced his student loan forgiveness plan at the end of August, it has been hit with lawsuits by conservative and libertarian groups who say widespread forgiveness is unfair.
Some of the suits have been dismissed, including by the U.S. Supreme Court. But…
3) The widespread forgiveness plan was blocked two times in less than a week by:
👉Eighth Circuit Court of Appeals in St. Louis
👉Federal district judge in Texas
2) We’ve already seen home price growth rollover on a national basis. Between June and August, the Case-Shiller National Home Index showed a 1.3% drop in U.S. home prices.
That marks the first decline since 2012.
3) “We’re easily going to see large double-digit declines. I think 15% next year is very conservative. We’re already turning,” said Diane Swonk, chief economist at KPMG.
It’s no surprise that some workers are feeling a little anxious about a recession and the future of their jobs.
Here are a couple tips for spotting the worst before it happens. 🧵bit.ly/3TCckFA
2) It’s about your company’s trajectory, not your own.
If your company has cash runway for less than 12 months, it’s likely to consider a layoff to make the cash outlast the current slowdown, according to @Layoffsfyi founder @roger_lee.
3) In that case, the “last-in, first-out” rule unfortunately still applies.
But even if your performance is top-notch or you’re not a new employee, you’re not immune to layoffs.
Fortune’s annual 40 Under 40 list shines a spotlight on ambitious and accomplished individuals shaping business in 2022.
These are the trailblazers influencing culture and society. bit.ly/3Gje03E
2) Host of Call Her Daddy, @alexandracooper, has one of the most lucrative deals in podcasting: $60 million to license the podcast exclusively to Spotify for three years.
She’s become Spotify’s most popular female podcaster. bit.ly/3gb9Ujk
3) Singer @rihanna is now worth $1.4 billion, while the value of Fenty Beauty is at least twice that.
Then there’s Savage X Fenty which last year raised $115 million in a Series B funding round and is now reportedly worth $270 million. bit.ly/3O6JdJl