Posted on 12/29/2014 12:14:34 PM PST by elhombrelibre
The ruble is collapsing again.
The currency dropped by as much as 9.3% on Monday the biggest decline since December 15.
This crash follows the Economy Ministry's announcement that GDP contracted by 0.5% from a year earlier, following a 0.5% increase in October.
"This is linked to sanctions first of all, oil and the panic we saw on the market in December. The damage to the banking system and consumer sentiment will take a long time to repair," Dmitriy Polevoy, the chief economist for Russia and the CIS at ING Bank of Moscow, told the Moscow Times.
(Excerpt) Read more at uk.businessinsider.com ...
I think the Russian people have had it hard. I don’t have animus against them any more than I do people from other nations. I wish most people well.
I try to be specific when I talk down a Russian person, ie: Putin. It also bothers me when they admire this man that has really screwed his people over, in the interest of being seen as a tough guy.
It’s no proof of being tough, to send your troops across borders with your neighbors unprovoked.
This is similar to what did to Japan, pre-WWII. It ended with 07 December 1941.
We really, really need to reconsider.
This has nothing to do with sanctions. Russia is to oil what Vegas was to the housing bubble.
Trust me Mr Putin: If Obama had his way, oil would still be high, America would still be wholly dependent on the middle east for oil and the Russian economy would be going full bore.
Awesome....saw that a few ago, always a good show with Steven N Seagulls .......:o)
Sort of passionate about Hoopie John’s music as well.....:o)
Stay safe Troop !
*In my best Urns voice* Eeexceeellent!
I understand what you are saying. However, I do not think it was entirely unprovoked or that Ukraine is innocent. Ukraine bugs me in the way they seem to expect everyone else to bail them out.
Other than this, we are not really enemies with Russia. I am not sure the issue is worth it. The land we live on used to belong to Indians. Of course the right or wrong of the Russia issue does not rest on the guilt of innocence of anyone else. I’m just saying these sorts of battles are what history is all about. I do not think Putin is a Hitler looking to rule the world as a superior race. Neither do I think he is out to commit genocide. His focus seems to be on security issues for Russia. I think the U.S. would do better to not escalate the conflict. Once in a while it would be nice to stay out of a conflict when it is not necessary to our security.
Many passionately disagree. Time will tell how it works out. A growing hatred in both directions can’t be good in the long run.
Putin should peg the ruble to the market price of an AK-47. If I wait long enough I should be able to get one for $10.34 USD plus shipping.
And Putin’s professed goal of bringing all ethnic Russians under a Greater Russia tent is similar to Hitler’s attempt to vacuum up all the ethnic Germans in Central Europe in the cause of a Greater Germany. That didn’t end well, either.
Thanks! He’s fun to listen to, with a unique style that kind of grows on you after watching a couple of his videos.
Thank you for the video link.
I’ll return the favor. Bet you haven’t heard this version.
THUNDERSTRUCK- By Two Cellos
https://www.youtube.com/watch?v=uT3SBzmDxGk
Well done!
Good point.
Letting him get away with stuff, will eventually start a war, too.
Just no way to win...
The Russian leadership is so blindly stupid. Any help in developing nuclear abilities or directly selling nuclear arms to rogue regimes will end up coming back to bite them. But then again I get the idea that Russian leadership could not care less about blow back against their own people.
Its not that I like Putin.
But I do not like Iran and the KSA even more.
Obama is making jokes about this.
Since when is diplomacy poking the eye of your adversary? The message we should be sending, back channel, is that this can stop any time you want it to. Just back the “f” up.
The response from Russia could be to shut off or turn down gas to Germany. It could be to send ALL of its resources to China for gold. It could be to send Iran more of a finished product for their nuclear plans.
Iran talks about shooting at the Jews. They will first shoot at the Saudis. Then ISIS. Then, the Jews. And no one should be happy about this.
All in all, driving a country the size of Russia to the floor is generally not a good idea.
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