by Yves Smith at naked capitalism
Marguerite Yourcenar salvaged one of the finest lines in all literature from the first version of her masterpiece Memoirs of Hadrian: “I begin to discern the profile of my death.” We are approaching that point with Ukriane, not just its military campaign, but also its economy. That baked-in collapse has been camouflaged by the bizarre pretense that there will be a huge reconstruction push, even more absurdly, funded by private sector interests. One has to think that the “rebuilding” patter is part of the cover for the fact that Project Ukraine is a lost cause.
At the end of this post, we are embedding a chapter on the devastation in Russia in the 1990s to give an idea of what the downside in Ukraine might look like.1 Recall that even though the USSR had suffered from underinvestment in many sectors, it still had ample resources and considerable manufacturing capacity. It did not, as Ukraine has, suffer from considerable infrastructure destruction, a fall in its population to half its former level, through flight, annexation, and death in the war, and the loss of some of its most economically developed areas.
The war is now entering a critical phase, with experts now warning of a breakdown of the Ukraine military in the not-terribly-distant future or using formulations that amount to the same thing. Scott Ritter had predicted that outcome for late summer-fall based on Ukraine’s dwindling missiles supplies, but that horizon has been extended by the US supply of cluster munitions, whose use is considered a war crime by many countries.
An indicator of the increased willingness to admit the inevitable military disintegration was coming is the early September article, How Ukraine’s Heroic Stand Against Russia Could Collapse Into Failure by Daniel Davis in 19FortyFive. Some parts of the press are admitting that the much-ballyhooed counteroffensive has failed; others are following official messaging via the revisionist history of claiming it had limited objectives and holding out the laughably false hope that Ukraine might still puncture Russian fortified defense lines and reach Tokmak before the fall mud season starts.
Seymour Hersh’s latest newsletter depicted both Biden and Zelensky as dug in on continuing the war without mentioning that Banderite guns at the back of Zelensky’s head mean he cannot act otherwise even if he wanted to. But as the saying goes, if wishes were horses, beggars would ride. And there is a noteworthy failure of wishes to translate into improved capabilities. From Hersh:…
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