Posted on 12/15/2014 10:12:57 PM PST by elhombrelibre
A funny thing happened on the way to Vladimir Putin running strategic laps around the West. Russia's economy imploded.
The latest news is that Russia's central bank raised interest rates from 10.5 to 17 percent at an emergency 1 a.m. meeting in an attempt to stop the ruble, which is down 50 percent on the year against the dollar, from falling any further. It's a desperate move to save Russia's currency that comes at the cost of sacrificing Russia's economy. So even if it "works," things are about to get a lot worse.
It's a classic kind of emerging markets crisis. It's only a small simplification, you see, to say that Russia doesn't so much have an economy as it has an oil exporting business that subsidizes everything else. That's why the combination of more supply from the United States, and less demand from Europe, China, and Japan has hit them particularly hard. Cheaper oil means Russian companies have fewer dollars to turn into rubles, which is just another way of saying that there's less demand for rubles—so its price is falling. It hasn't helped, of course, that sanctions over Russia's incursion into Ukraine have already left Russia short on dollars.
(Excerpt) Read more at washingtonpost.com ...
Apparently, on this thread, the Monroe Doctrine meant that the United States was entitled to engage in political, economic, and military blackmail to keep independent countries in line in the absence of another country trying to colonize that country in the first place.
I fear we are about to get a Russian discourse on the meaning of the words “colony,” and “colonize.”
By the way, I have to wonder how the Crimean Russians that welcomed Putin feel now that the Russian currency is even worse than the Ukrainian one, especially if they're receiving a Russian pension vice the one they'd been getting from Ukraine.
~The Monroe doctrine refers to other countries establishing colonies in Latin America. Where are the colonies in Central and Eastern Europe?~
You are engaged in a game of words. Near abroad concept is about the same in fact. It is against foreign influence in countries bordering Russia.
Yeah, who is going to help Putin now that he’s poisoned the well with all of the world?
EU to never recognize Crimea’s reunification with Russia - Mogherini
The European Union Council has agreed new sanctions against Crimea that are to come into forces by the end of this week
Congress Presses Obama on Russia Sanctions
Republicans and Democrats spoke with one voice Monday
Hilarious. Just like his arsenal of 30,000 thermonuclear warheads, all targeted at the USA.
The legislation, which the Senate gave final approval late Saturday, also authorizes the president to provide $350 million over the next three years in military assistance to Ukraine, including defense equipment and services and training aimed at helping the country re-establish its sovereignty and territorial integrity.
“On behalf of the people’s House, I urge President Obama to sign this bipartisan legislation,” House Speaker John Boehner said in a statement, noting the measure was unanimously approved by both chambers.
Russian ruble falls to record low of 68.8 to U.S. dollar http://t.co/lMkJVIvjiA— WSJ Breaking News (@WSJbreakingnews) December 16, 2014
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