I have a feeling they’re testing the waters. As bad shape as our economy might be in, the Russian economy, which is highly levered to oil and gas prices, is much worse off. Their stock market is down 90%, which means no one seems to have any confidence in their economic future.
Despots like Putin are a lot easier to tolerate when they keep the trains running on time, or, in his case, keep the petro-dollars rolling in. When all his supporters are losing money, it has to be worrying him. He could be getting desperate enough to see seizing the gas pipeline that runs through Georgia as a cost-effective way to prop up Russia’s economy.
Exactly. Putin said something funny lately; I don’t remember the exact words but it was to the effect of that Russia would be the new safe-haven country, like how everyone usually buys US treasuries in a crisis.
I’m not saying our stock market isn’t bad, but theirs got SO bad that they had to close it for a week in early October to try to stop the bleeding. Russia might have a first world military, but they are third world in every other regard.