Duke Finance Prof: Russia Does Not Have a 'Ragtag Military'

Friday, 08 Aug 2014 05:01 PM

By Courtney Coren

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Duke University finance professor Campbell Harvey said he disagrees with Illinois Rep. Adam Kinzinger's assertion that Russia has a "ragtag military" — because it does pose a real threat.

"I totally disagree with this idea that Russia is like a ragtag unit," Harvey told Ed Berliner on "MidPoint" on Newsmax TV Friday.

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"The one critical factor that was ignored is that Russia has a massive nuclear arsenal, so it is a match to the U.S. in terms of the last resort," he explained. "So it has a major deterrent."

However, the professor of finance at the Fuqua School of Business at Duke University said that Russia is "obviously not as powerful as it was during the Soviet Union time, but you cannot ignore the fact that this country poses a major threat."

Harvey said that it's important not "to escalate too quickly, and this is exactly the strategy that has been followed."

"The way to go after Russia is with the dollar, but this mentality of changing Russia into the 20th century gas station, that's not helping us," he added.


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