What caused the USSR to go bankrupt?

Answer 1

The USSR went bankrupt primarily due to a combination of economic inefficiencies, excessive military spending, and a rigid centralized economy that stifled innovation. The burden of maintaining a vast military presence and supporting satellite states strained the economy, while the inability to adapt to market demands led to shortages and stagnation. Additionally, the decline in oil prices in the 1980s significantly reduced revenue, exacerbating the economic crisis and contributing to the eventual collapse of the Soviet system.