Posted on 12/17/2014 4:37:09 AM PST by elhombrelibre
Vladimir Putin is suddenly feeling the squeeze.
The Russian president, earlier this year a swashbuckling land-grabber who seemed to confound the West, finds himself in a three-way economic vise — tumbling oil prices, punishing sanctions and now a collapse in his country's currency.
"He really is going to be hit by a perfect storm," said Andrew Kuchins, director of the Russia program at the Center for Strategic & International Studies. "Although much of it is his own making."
The value of the Russian ruble plunged by as much as 20 percent on Tuesday despite a desperate attempt by the central bank to strengthen the currency by jacking up interest rates. The ruble has lost half its value this year against the dollar.
Blame the two other crises that have sprung up on Putin.
(Excerpt) Read more at nbcnews.com ...
In before someone makes the comment that this is how wars start.
Nothing to do with Obama or Kerry
I forgot to say that, 1RB.
I’ve got a live one on another thread. Just likened me to an Obama supporter, lol. Right on script.
Wars are expensive.
does this mean that the price of vodka will also tank 60%?
“You can’t have growth with 17 percent interest rates.”
Yeah right, just ask Jimmah Cahtah, father of 20% interest rates here 30 years ago.
True.
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