Russia's crisis has no end in sight as $50 oil looms, says OECD

The Telegraph ^ | 27 Dec 14 | Szu Ping Chan

[elhombrelibre]

There is no end in sight for Russia’s economic crisis, as crippling sanctions and tumbling oil prices leave the country staring into an abyss, the Organisation for Economic Co-operation and Development has warned.

Catherine Mann, the OECD’s chief economist, said Russia was moving closer to shutting itself off from the rest of the world, while the West’s sanctions against Moscow over its annexation of Crimea in Ukraine had left no end in sight for the country’s woes.

“It’s very difficult to tell what will get Russia back on track,” she told The Sunday Telegraph. “The end game is autarky, and for an economy to return to being disconnected from the global economy, to be farming its own land for food, for the energy to be only used within its own economy, to not import clothing and machinery – this requires painful restructuring.”

[Bon mots]

[elhombrelibre]

As Putin moves towards autarky and autocracy, I understand why he's cozying up to the North Korean dictator. That guy can give Putin some lessons in autarky.

[Berlin_Freeper]

The German government expects low oil prices to boost growth in Europe’s biggest economy by 0.2-0.3 per cent next year, Der Spiegel magazine reported on Sunday, citing an internal economy ministry memo.

[elhombrelibre]

Most of the western world will benefit from lower oil prices. If nothing else, it give consumers more disposable income. People who commute by car to lower paying jobs gain the most, I'd say. Our energy sectors will take a hit in short term.

[elhombrelibre]

Most of the western world will benefit from lower oil prices. If nothing else, it give consumers more disposable income. People who commute by car to lower paying jobs gain the most, I'd say. Our energy sectors will take a hit in short term.

[Cringing Negativism Network]

Yet China is now the biggest exporter on the planet.

And we continue to buy ever-more Chinese products.

We are paying far too much attention, to the wrong country.

[Oliviaforever]

We may be looking at the First World Economic War against a state or a small set of states.

The Saudies are playing as is Europe as is the United States and Canada with the goal being bring down Putin, bring down Iran and never fire a shot.

[Oliviaforever]

“Yet China is now the biggest exporter on the planet.”

“And we continue to buy ever-more Chinese products.”

“We are paying far too much attention, to the wrong country.”

China has serious issues from a fixed currency to demographics that will strangle their economy 20-30 years.

[Cringing Negativism Network]

China is BOOMING.

Yet we ignore the entire nation. While we buy, and buy, and buy.

And China continues to ever-grow their military budget.

Now the second-largest in the world.

[Caipirabob]

I highly recommend that the Saudi royals avoid looking like a slow witted deer with a wounded bear nearby.

[elhombrelibre]

We directed our attention towards Putinstan because of his belligerent aggression against a country that is at peace with Russia. Should China do something similar it will get the attention you suggest. Until it breaks the rules, we won’t treat them as a threat. Putin, president for life, could change course, give up his empire rebuilding, and concern himself with the needs of his own people.

[elhombrelibre]

Iran is the first target for the Saudis. The next one for them is Putinstan.

[Cringing Negativism Network]

China doesn’t even allow American companies to own there, they can only own 49%.

Period.

Everything in China belongs to Chinese. I would say that is similar enough.

America needs to start advocating, for America again. Bring back American industry.

GOP stand up.

[mac_truck]

Russia/Putin has negotiated a trillion dollars in strategic trade deals with half a dozen countries in the last few months, while western leaders stood around and patted themselves on the back.

American sanctions are a joke and the whole of Europe knows it.

[elhombrelibre]

Oh yes, all of Europe envies Putinstan and its ruble. He’s done a really, really swell job. Hhahahaa. LOL. Dude, you’re a hoot.

[bert]

Over looked by the pundits is the question are you better off now than 30 years ago?

Is the disruption now permanent and is the disrupted life worse than the Communist life?

I think that most will say its not all that bad. We can handle it.

[elhombrelibre]

Yes, Putin, president for life, is better than Brezhnev. That’s real progress you can be proud of if you’re a Russian.

[elhombrelibre]

Comrade, here article from capitalist running-dogs ruling class.

http://www.forbes.com/fdc/welcome_mjx.shtml

[elhombrelibre]

You know you're right. His deal with North Korea is a real slam dunk, comrade.

http://www.businessinsider.com/odd-facts-about-north-korea-2014-12