And the Russian economy is booming and they always pay their debt
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Since the Soviets fell back in 91, they have had AAAplus credit and known for exemplary business practices.
When I worked in Moscow, training Ivan’s , they brought up many points- Americans live on credit, House car boat mortgaged, Russians have no debt. They save up then buy- Their Krushev apartment and Dascha and car is paid for,… so who is really better off?
—” Their Krushev apartment and Dascha and car is paid for,”
Russian government bonds not so much.
Historically, they stop paying for years as inflation makes face-value near worthless then pay any that still have possession of the certificates.
A few buy them for pennies and cash them in for nickles and dimes.
Armand Hammer said they were used to stuff cracks in the walls, he bought them in great numbers and did very well.
One of the very few that came out ahead.