Russia defence spending to grow 27 percent in '09: Putin

Reuters ^ | 16 September 2008 | Writing by Oleg Shchedrov; Editing by Christian Lowe

[Grzegorz 246]

MOSCOW (Reuters) - Russia's defence spending will grow by 27 percent in 2009, Interfax news agency quoted Prime Minister Vladimir Putin as saying on Tuesday.

"Nearly 2.4 trillion roubles ($94.12 billion) will be allocated for the needs of national defence and security (in 2009)," Interfax quoted Putin as saying. "This is an increase of 27 percent."

[se_ohio_young_conservative]

I think these morons want World War 3.

[Old Retired Army Guy]

There was a time near the end of the Cold War when they couldn’t afford to even pay their soldiers. Now with the wealth they have attained as a result of oil revenues they have the potential to modernize their forces. The one area where they really have a problem is training and discipline of the troops.

[Bringbackthedraft]

$94.12 billion ................................ Hmmmmmm, should be enough to contain the Georgians.

[Leisler]

Oil down another 5 percent today. At this rate it will be free at the end of the month.

Oil was almost 150, now 90 and a bit. Down over a third.

Supposedly( like anyone trusts them) the Russian's have a cash reserve. Yeah, right, in London banks maybe.

The feces is hitting the fan. There is no money, Putin, Inc. has stolen it. Further since the Russians chased out anyone that could run a oil industry( BP, Shell) their oil infestruture is junk, and high cost. So between the stealing and repairing, there's isn't much spread left.

So where does a one trick pony economy go to get the only thing it knows how to steal from? Georgia.

I hope the EUweenies have a real warm winter and don't need the Russian gas.

The Russian military industries are toast, but the Russians won't buy from the west, because they can not afford them, can not maintain them and can not skim off enough from out side their nation side Ponzi scheme. Think of the Kursk, sinking in 300 feet of water and the idiots couldn't, and wouldn't do anything. Hey, anybody want to join the Russian nuclear submarine force? So, seeing how careless the Russian thugs are with the usually elite submarine forces, you can imagine how attractive it is to be mechanic in some Russian tank unit.

Bluster and delusions all from idiot Soviet thugs.

[Grampa Dave]

“There was a time near the end of the Cold War when they couldn’t afford to even pay their soldiers. Now with the wealth they have attained as a result of oil revenues they have the potential to modernize their forces. The one area where they really have a problem is training and discipline of the troops.”

Those good old days may be coming back for our side!

http://www.freerepublic.com/focus/f-news/2083527/posts

Russia halts trading after 17% drop
Financial Times ^ | September 16 2008 | By Rachel Morarjee

Posted on Tuesday, September 16, 2008 8:46:27 AM by Grzegorz 246

Russia authorities halted trading on the country’s stock exchange on Tuesday after it plunged 17 per cent in a broad-based sell-off.

At 1700 local time, the rouble-denominated Micex index had fallen 17.5 per cent to 881.17 and the RTS index dropped 12 per cent to 1,131.120 as the falling oil price, margin calls on local investors and a broader sell-off in emerging markets stocks drove shares down.

“This is a good old-fashioned panic”, said Steven Dashevsky, head of research at Unicredit in Moscow. “It doesn’t feel like there is anyone domestically that can put the brakes on.”

Oil stocks tracked the price of Brent crude, used as a benchmark for Russian oil sales, as it sank below $90 a barrel. Gas giant Gazprom fell 8.3 per cent to Rbs98 and Lukoil dropped 12 per cent to Rbs1,355.51.

“The fundamental issue is oil. Russian oil companies are not producing more so their earnings are dependent on a rising oil price,” said Daniel Salter, analyst at ING. If the oil price falls, then earnings downgrades are in the pipeline for these stocks, he added.

State-backed bank VTB tumbled 33 per cent to Rbs0.03 and Volga Telecom sank 28 per cent to Rbs37.

Margin calls on local investors who have used stocks as collateral for loans continued to drive sales, as emerging market funds faced growing redemptions.

---

Putie might want to hire some food samplers and fools to start his limo before he eats or gets in his limo.

[Moonman62]

That’s going to be tough to do with a failing stock market and economy. They could print the money, but then they would have a terrible inflation problem.

[johnnycap]

YEs!!! Putin and the Oligarchs have lost 55% of their wealth since May 20th.

-Talk about a cruel cruel summer.

-Where the heck is Putin going to get the money for a 27% increase in military spending with his tax base cut in half?

-At least home heating fuel won’t be so expensive in Moscow this winter, comrade.

[Paleo Conservative]

I wonder how he intends to pay for it with the Russian stock market crashing.

[Logical me]

What is really sad here is I bet the vast majority of the Russian people have had a taste of freedom and some Western ideology and do not like this. They would rather have the money spent improving the interstructure. Real sad?

[nathanbedford]

There is some speculation that McCain might fold and dance with the rats on their phony bill to drill offshore. McCain is not easily persuadable on many issues and so he is likely to go with the gang of 10.

It seems to me that the best way to persuade McCain to stay with Bush on drilling and insist there be no restrictions is to get in to see that this is not just a matter of energy independence, not just a matter of cost at the pump, but a threat to the one thing that always gets his attention: national security.

[pobeda1945]

Russia’s economy depends very little on stock market.

[Lasha]

Hm - read between the lines - that's how they want to recuperate losses suffered on the stock market... you cannot even fathom how much of these funds will filter down to the pockets of Russian FSB elite in form of bribes, kickbacks, etc....

[Lasha]

ping