Hamling: The Soviet Union was able to keep fighting in World War II because it could convert its entire industrial capacity to war production. He says Russia's armed forces are now facing a drastically different reality in Ukraine. Hamling: In this Russian war economy, the welfare of the people is of scant importance so long as the tanks roll off the production lines at wartime speed.
Silicon Valley Bank. Signature Bank. Credit Suisse. The world’s banks look wobbly, leading to fears of broader economic pain. Our economics editor explains how regulators should stabilise the sector. Russia is running out of tanks; replenishing its supply will not be easy. And America has a new favourite dog breed.
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