Affordability crisis could be reaching its peak in Canada, economist says
With Canada's annual inflation rate reaching the central bank's two per cent target, the country's affordability crisis could be peaking, according to an economist.
A top Russian security official warned Thursday about the rising threat of a nuclear war and blasted a German minister for threatening Russian President Vladimir Putin with arrest, saying that such action would amount to a declaration of war and trigger a Russian strike on Germany.
Dmitry Medvedev, the deputy secretary of Russia's Security Council chaired by Putin, said in video remarks to reporters that Russia's relations with the West have hit an all-time bottom.
Asked whether the threat of a nuclear conflict has eased, Medvedev responded: "No, it hasn't decreased, it has grown. Every day when they provide Ukraine with foreign weapons brings the nuclear apocalypse closer."
He has issued a barrage of such strongly-worded statements in the past, blasting the U.S. and its NATO allies for what he described as their efforts to break up and destroy Russia. It's been a drastic metamorphosis for the gentle-looking politician, who once was hailed by the West as a liberal hope.
In Thursday's comments, the 57-year-old Medvedev denounced the International Criminal Court's decision to issue an arrest warrant for Putin on charges of alleged involvement in abductions of thousands of children from Ukraine as legally null and void. He noted that the move added to a "colossal negative potential" in the already bitterly strained ties between Russia and the West.
"Our relations with the West are already worse than they have ever been in history," he said.
Medvedev specifically blasted German Justice Minister Marco Buschmann, who said last week that Putin would be arrested on the ICC's warrant if he visits Germany.
"Let's imagine ... the leader of a nuclear power visits the territory of Germany and is arrested," Medvedev said, adding that it would amount to a declaration of war against Russia. "In this case, our assets will fly to hit the Bundestag, the chancellor's office and so on."
He noted that Russia's nuclear forces have provided a strong deterrent amid the fighting in Ukraine, adding that "we would have been torn to pieces without them."
Medvedev also challenged Ukraine's sovereignty in comments that could reflect Moscow's plans to extend its gains.
"Honestly speaking, Ukraine is part of Russia," he said. "But due to geopolitical reasons and the course of history we had tolerated that we were living in separate quarters and had been forced to acknowledge those invented borders for a long time."
The soft-spoken and mild-mannered Medvedev, who served as Russia's president from 2008 to 2012 when term limits forced Putin to shift into the prime minister's post, was widely seen by Western officials as more liberal than his mentor. Many in the West expected Medvedev to win a second term and further soften the Kremlin's policies, but he stepped down to allow Putin to reclaim the presidency in what Kremlin critics denounced as a cynical manipulation.
Since Putin sent troops into Ukraine more than a year ago, Medvedev has emerged as one of the most hawkish Russian officials, regularly issuing blustery remarks that combine Latin mottos and legal expressions with four-letter words, and sound much tougher than those issued by old-time Kremlin hard-liners. Observers have interpreted Medvedev's comments as an apparent attempt to curry favour with Putin.
Medvedev launched more anti-Western diatribes Thursday, declaring that "it's useless to have talks" with the West and speaking with contempt about Western politicians, alleging a "catastrophic drop in competence and elementary literacy of European Union leaders."
"I have no illusions that we could communicate with them again any time soon," he said. "It makes no sense to negotiate with certain countries and blocs -- they only understand the language of force."
Medvedev. who heads a Security Council panel coordinating weapons production, derided Western statements alleging that Russia is running out of weapons and charged Russian weapons industries have increased output.
He said that Russia will produce 1,500 battle tanks this year alone and boost production of other weapons to meet the army's needs. His claims couldn't be independently verified.
"The most important thing now is to make it all in necessary volumes, and we are launching new factories to do that," Medvedev said.
He said that the Russian military already has good intelligence drones and loitering munitions, but acknowledged that it has yet to deploy long-range strike drones.
With Canada's annual inflation rate reaching the central bank's two per cent target, the country's affordability crisis could be peaking, according to an economist.
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