RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent

[pdq]

In the dead-tree paper today, they quoted two military guys as saying essentially, well, now we’ve gotten a look at the enemy team, and it turns out they sure weren’t nearly as capable as we thought.

They still think that sheer numbers will “win”, but that for all his trouble, Putin will face an endless, bloody Ukrainian insurgency if he does.