Russia and North Korea through the Lens of GDP

One of the ways in which the Trump-Russia Collusion Narrative doesn’t pass the smell test is when you sniff at Russia’s GDP. In 2014, it was north of $2 trillion. But by 2016 it was down 40 percent to $1.3 trillion. Wonder why? You know the reason: Fracking. The fracking revolution has brought oil prices down from $100 per barrel to $50 per barrel. So we are to believe that the Russians, whose whole economy relies on high energy prices, were colluding with the party of “drill, baby, drill?” I don’t think so. Mexico, another oil state, has seen GDP drop from $1.3 trillion to $1.05 trillion in the oil price bust. That’s a nasty 20 percent drop. But it tells us that Mexico’s economy is about a lot more than oil. Let us talk about North Korea and its nukes and play a little quiz. What’s the per capita GDP of South Korea? Answer: $27,500. So what’s the per capita GDP of North Korea? Answer: $583. You might ask, how in the...(Read Full Article)