It looks like the US Chamber of Commerce is about to go ballistic about further sanctions against Russia, stemming from their military adventures and meddling in Ukraine. This reminds me of a very wise man who once said..., I WISH YOU WOULD JUST SHUT YOUR BIG YAPPER. I think that was Nietzsche. Not completely sure. The biggest lever that we have as the worlds largest economy is the power of economic sanctions. When dirtbags misbehave like Putin, we need to be able to apply not so subtle pressure to bring them to their senses. I am not suggesting that sanctions will make Putin a decent human being. I doubt that is really possible. I do think that when he breaks out his calculator and realizes that his little chest pounding adventure in Ukraine is costing him $100 Billion for starters, that he might reconsider. We cannot simply resort to military action with everyone who misbehaves and abuses their citizens or their neighbors. We have the worlds largest economy and our people are the wealthiest in the world by a ridiculous margin. The greatest weapon we possess for change in the world is our wallets collectively and individually. The President is right to use sanctions against Russia. In fact I would like President Obama to drop the economic H-Bomb on Russia. Well, let me explain. He really does not have to actually do it, he just has to hint that his finger is hovering over the button. In 2001 President Bush ordered his administration to take steps against a Bank in Macau (China) that was handling transactions for criminal associates of the North Korean regime. Essentially the Bush Administration accused this Bank of cooperating with Terrorists. Account holders panicd and rushed to remove their monies. Within 48 hours this Bank was completely defunct and ceased to exist as a business entity. We could take similar steps toward Putins gang of Cronies that are benefitting financially from this Ukrainian adventure. That is what I affectionately call the Economic H-Bomb. Like its namesake you dont actually have to use it, you just have to act as if you are willing to use it. Sanctions are the right approach. I would add that if your business plan is predominantly aimed at Authoritarian governments, dictators and the like, you probably need to fire your Senior Marketing team. Dont come crying to me or the public that your business is being harmed by sanctions. You should build that obvious risk into your business plan.
Posted on: Wed, 25 Jun 2014 13:23:38 +0000
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