So I'm thinking if Putin doesn't attack within the next week or so, his plan all along is one of bluffing to gain concessions from Ukraine / NATO.
Running with this theory, as I'd guess the economic consequences in Putin's calculus outweigh the gains in territory... at least for now. I say this if, and only if, Putin thinks Biden would go full-on sanctions and pull out all the stops. This would include blacklisting the major Russian banks, disconnecting Russia from the SWIFT payment system, halting all exports of electronic components and oil-related supplies to Russia, and blacklisting Putin, his oligarch pals, and various companies within Russia.
Would Biden actually go DEFCON5 if Russia invades? Well, if yes, it will not only economically harm alot of our allies, but also us. Oil would go through the roof, the financial markets would be hit hard, and other problems for the West.
On the other hand, Russia would likely be crushed economically by such measures. The Ruble would plummet, their stock market would crash, and their banking and trading systems would be in a pickle. Then the question becomes, would China be willing to rile the US and the West by lending a hand to Russia.
Is Putin willing to gamble that Biden is bluffing? Hmm. Whole lot of poker going on.