> What's the real difference between the west's economic retaliation versus a military retaliation?
It is considerably easier to reestablish SWIFT transaction processing than it is to return the dead to life.
> Seems to me totally isolating Russia from the world financial system means they have nothing left to lose and might lead to the war expanding.
As a dictator Putin might place zero value on Russian life, as you've done in your comment, but it is unlikely that everyone on the Russian side will see it that way.
> Seems to me totally isolating Russia from the world financial system means they have nothing left to lose and might lead to the war expanding.
I find it odd to describe this as "nothing left to lose". More countries could actively support Ukraine or possibly enter the war directly. Of possibly they could confiscate Russian property in other countries. Or they could attack the Russian homeland. Things could certainly course get mush worse for Russia than losing access to SWIFT.
there's a good chance that any form of military retaliation could lead to an action that the Russian military might confuse with preparations for a nuclear first strike, leading them to want to do the same.
such confusion doesn't arise with economic retaliation.
Won't Russia decide that it is being attacked either way?
Seems to me totally isolating Russia from the world financial system means they have nothing left to lose and might lead to the war expanding.