"So, what do I need to do for a cow?"
Posted on 01/06/2015 5:30:49 AM PST by elhombrelibre
Russia's currency on Tuesday slipped 3% to below 63.5 rubles to the dollar as falling oil prices threaten to unwind the government's efforts to defend the currency.
The collapse of the ruble is causing price inflation throughout Russia. Inflation is running at 10%, according to The New York Times. Russian shopkeepers can't update their price lists fast enough and are telling shoppers to come back later when they've put up more-expensive price tags on staple goods. The most extreme example? It's leading to a cheese shortage, The Times says:
A variety of goods — from basmati rice to imported hard cheeses — have simply vanished, leaving consumers with fewer and less desirable choices.
Sausages are in short supply, too, the BBC says:
It's not just inflation that is influencing the festive shop in Russia. So are the "anti-sanctions" Moscow imposed on the West earlier this year. As a result, certain imported products which may have graced some new year tables here in the past are no longer available: like French cheese, Norwegian salmon, German sausage.
(Excerpt) Read more at businessinsider.com ...
"So, what do I need to do for a cow?"
Let them eat cake.
Funny!
Putin’s gone Mari Antonette one better. He say, “Let them eat vodka.”
Problem with that is they are quite good at some things, watercolor paints come to mind, but terrible at most things.
Only so long as the Russians have confidence in it. Trust is all that supports paper currency -- any paper currency.
It’s not a lack of ability, it’s a lack of leadership.
The article is kinda misleading no? The ruble drops 45 % to 63 rubles. The higher he ruble to the dollar the worse it is.
So, last week the ruble traded 56 per the dollar now it’s INCREASED to 63.
About the same, but more often.
One US dollar equals 62.80 Russian ruble. So a US dollar buys more rubles today than it did yesterday.
This does seem to indicate a need for government to create emergency food warehousing, and means of transportation of this emergency food to market, for three reasons. To keep food available:
1) During economic crises.
2) During agricultural crises.
3) When there is speculation causing inflation or shortage.
Ordinary market forces can be distorted by all three, which represents a tangible threat to the public. Free trade does not trump starvation or even public panic.
There are the problems of the expense of warehousing and of spoilage, but at least the latter problem has be reduced after a lot of research. If nothing else, the warehouses can be used as “buffers” of food from producers to institutional consumers, such as prisons or partly to the military, to help mitigate the “sell by” and “expiration” dates.
LOL
Tanks and other military hardware are chewy and tasty. Vlad is making a whole bunch of that.
Plus there is vodka to drink, so no worries.
This would probably be a good time for Putin to ask the US for a sit down. A “reset” if you will. This would afford Obama the position of “leave Ukraine, leave Crimea and we will discuss stabilizing oil prices.” If Obama chose to, he could also discuss Russian involvement with Syria as well as any other interventionist illusions Russia might have in the future.
Reagan would have slammed Putin’s d**k in the door by now.
Yes... So the article should state it that way that the US dollar increased relative to the ruble.
It’s really amazing. A couple weeks ago it was getting 51 rubles, now it’s up to 63 and the Euro it’s worse yet.
The dollar is stronger versus both the ruble and the Euro, and the ruble is weaker versus the Euro and the dollar.
Drink!
... to foster a diversified, self-sustaining economy (mostly by getting out of the way).
Other oil-rich socialist economies are aching from the drop in oil prices, such as Norway, Venezuela, etc. They absolutely cannot wrap their minds around boom/bust cycles.
Here in the USA, government workers imagine that the tax-funded teat will never run dry, or never stop increasing its flow. The unionized workers from the Midwest over the past thirty years have learned (or should have learned) that such a gravy train is finite.
Any job paying well has a limited run, and the workers should sock away their income while times are good, and prepare like crazy for their next career -- because the market is already looking at how "fix" the problem of their high wages and salaries.
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