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Russian Economy General News: #3

Hannibal Barca

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Post n°251

Re: Russian Economy General News: #3

Hannibal Barca Mon Dec 15, 2014 6:30 pm

You know what's the funny thing? That I am almost certain that the country they try to bust is almost certainly US and not Russia.
And western media know this and they try to cover up and in the same time Russia caught off guard once more.
Don't get me wrong Russia signed some MAMMOTH contracts lately in MANY fields and they also work for dedollarization systematically.
It's only that it takes time for all this to materialize and American brand name is incomparable (even yuan depreciates compare to dollar although China is the big winner of this all!).

F-15E

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Post n°252

Re: Russian Economy General News: #3

F-15E Mon Dec 15, 2014 6:37 pm

$60 Oil Would See Russia's Economy Shrink 4.5 Percent Next Year – Central Bank

http://www.themoscowtimes.com/business/article/60-oil-would-see-russia-s-economy-shrink-4-5-percent-next-year-central-bank/513344.html

sepheronx

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Post n°253

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 6:39 pm

F-15E wrote:$60 Oil Would See Russia's Economy Shrink 4.5 Percent Next Year – Central Bank

http://www.themoscowtimes.com/business/article/60-oil-would-see-russia-s-economy-shrink-4-5-percent-next-year-central-bank/513344.html

I highly doubt that. Then again, the moscow times is known for bs reporting since it is a finnish company. I also would find it dubious at best that a nation whos gdp
Accounts 18.7% for oil and gas, yet drops more than Iran's who consists more....

magnumcromagnon

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Post n°254

Re: Russian Economy General News: #3

magnumcromagnon Mon Dec 15, 2014 6:52 pm

sepheronx wrote:

Austin wrote:BTW can Russian CBR start its own QE program like Fed did in 2008 when economy was falling , Like giving Loans at 0-1 % rate by increasing Public Debt to from 11 % to 25 % of GDP ?

While ago (two months ago at least) I think I posted on here the possibility of QE in Russia.

In 2008, they burned through forex to save ruble because everything was still imported from west and ruble was not free floating. Now is a different case. We shall see.

Free-floating has '0' chance of saving the Rouble, only capital and exchange controls can do that. Obama verbally attacked China for being a 'currency manipulator' back in 2010 because they used capital and exchange controls to defeat a 'beggar my neighbor' survival strategy by U.S. hedgefunds (Like George Soros Quantum fund) by attacking the Renminbi by driving up the value of the currency and attempting to destroy China's export market. The main economic vehicle/instruments for that speculative attack was securities abuse in the form of 'credit default swaps' and 'credit default obligations' . When the Chinese capital and exchange controls defeated the U.S. hedgefund orchestrated attack, they chose the next best thing...attacking their so called 'allies' in the 'Euro-sphere'. Specifically in the form of attacking the weak-links of the Euro such as the Greek Bond market, with credit default swaps and credit default obligations. A 'prima faci' case of this came in the form of the 'Idea Dinner' at the boutique bank of Monness, Crespi, Hardt & Co, an open example of the fraudulent nature of the Euro crisis:

Hedge funds are ganging up on weaker euro

sepheronx

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Post n°255

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 7:02 pm

Hannibal Barca wrote:I mean that Western infuence and investments and cooperation and you name it to Russian economy will be pretty much zero like it was in Soviet era.
They will keep selling gas or oil or raw materials and rockets and fertilizers and reactors but if and only they are the best in the world and in a hugely competitive price.
They will be total enemies in everything else.

If they manage to engage India and China and Brazil and Iran and Kazakhstan and South Asia and if they start producing something better than Polar TVs or Ladas or Dima Bilan
they should be able to break the falling Europe. If not and they stay a low productive, backwater economy they will lose again.
You can argue as much as you like but if you take a map and compare the size of Russia and Germany (or France, UK, Italy)
and also account for double the population you can't excuse the fact that Russian industry is a laughing stock compare to German and that Germany's PPP is still substantially higher.
They can't diversify no matter how hard they try and there are no excuses it's been quite a lot since they tried.

Yes they can start QE and that's precisely what they do. Problem is, they still can't decrease interest rates and they have to stop capital outflow. Why? Like it is now if you give me money
I will simply take them all, exchange them for dollars put them is a Swiss bank and they will just repay with interest due to devaluation and keep a nice profit as well....
It is so terrible that despite QE even the stocks collapsing!
Long story short, oil must stabilize first!!! If you can't wait just bomb Saudi Arabia, that's the way it is.
After oil go back to 100 in a year from now IMO and Ruble stabilize they should FINALLY DIVERSIFY!

But I am not overly worried, pretty soon countries like Nigeria or Libya or Venezuela will go bust and others like USA will shut their shale fields and Brent will start rising again.

Meh, Germanys stake in consumer electronics is next to nothing. All german electronics are Chinese or Japanese. They dont make TV's. Germany is a heavy industrial equipment manufacturer. Believe it or not, Russia is too. But in the very cheap sector. You can find Russian cranes, construction, agricultural and other heavy industrial goods in CIS countries, latin america and africa. Just because they dont sell to europe, doesnt mean it does not exist. Germany is a heavily over inflated market and shit is expensive. Russian goods are cheap. Both get many sub parts from China. German equipment has a name in the world, Russians do not and will not. Recently Russia sold construction equipment to Poland (of all countries). Russia being "backwords" in tech is a laughable concept since most to all parts inside the products are made in China. Or s.korea. 80% of japans manufacturing is in China. Probably more % of that for America. No different for Russian products where subparts are from China. But as prices rise, many of the manufacturing may end up localized just to keep prices low and profits up.

Last edited by sepheronx on Mon Dec 15, 2014 7:12 pm; edited 1 time in total (Reason for editing : a correction or two)

Hannibal Barca

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Post n°256

Re: Russian Economy General News: #3

Hannibal Barca Mon Dec 15, 2014 7:07 pm

Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

sepheronx

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Post n°257

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 7:15 pm

No, Germany doesnt. Not any extent than Russia. Lada granta is sold in various countries, even Germany. Top selling car in Russia too. Get off your high horse. Guaranteed you open a german tv, it will say made in China.

Have you used any Russian product? I have purchased from overseas multiple russian products. No worst than other shit I purchased.

What do you want? Russia wont be able to export to rich countries of these products. They export it to others. What is your point? West wont pick up goods from a direct competitor and hope to sell it in their own market, especially not from Russia. Kamaz is regarded as top notch beating out many competitors in nearly everything, and it isnt in europe market. Look up the rallies and ratings of kamaz trucks.

Last edited by sepheronx on Mon Dec 15, 2014 7:19 pm; edited 2 times in total

Hannibal Barca

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Post n°258

Re: Russian Economy General News: #3

Hannibal Barca Mon Dec 15, 2014 7:17 pm

I don't care whether they were build in China or not as long as it is a German brand. It might be a long term suicide but for the moment Germans take the lion's share of the profits.
I don't dispute Russian products quality, I dispute their existence Laughing

sepheronx

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Post n°259

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 7:21 pm

Hannibal Barca wrote:I don't care whether they were build in China or not as long as it is a German brand. It might be a long term suicide but for the moment Germans take the lion's share of the profits.
I don't dispute Russian products quality, I dispute their existence

So you are telling me you have comoletely ignored sdelanounas.ru website with its photo evidences and links? You ignored what evidence I posted? Really? Jesus christ you are thick. Once again, because it isnt sold in your country, doesnt mean it doesnt exist. I proved it already. I showed you linkks. Want me to post them again, and again and again? Why not order it yourself and then judge afterwards. Than just assuming like you are.

Then again, prior, you said they didnt produce a processor, and I proved you wrong. Then you went onto say theh dont make a tv, then I proved tou wrong. Not surprising really.

Hannibal Barca

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Post n°260

Re: Russian Economy General News: #3

Hannibal Barca Mon Dec 15, 2014 7:29 pm

This is getting boring, I will reserve the questions. Then answer to me why 70% of Russian exports are hydrocarbons?

sepheronx

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Post n°261

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 7:46 pm

Hannibal Barca wrote:This is getting boring, I will reserve the questions. Then answer to me why 70% of Russian exports are hydrocarbons?

Because clearly, the easier/cheaper method is making the most money for them (was at least) and about 18% of Russias enterprises actually seek to export their products (elvees, mikran, kamaz, are some of the few who do) and majority of their sales are in piss poor countries. Russia manufactures a hell of a lot more than theh do here in my country. Only thing we sell is American vehicles.

I agree that Russia needs to develop a name for their companys. And they failed to do so in a time where they could have. But as an old saying goes for the Russians 'they dont get it done till a fire is lit under their butts'. At one point, when avtovaz was total garbage, they sold their cars here in Canada. Now that the quality of a lada granta is that of a hyundai sonata, you cannot find them here. I can get a ural motorbike though. I was at a Kalinka store and purchased Russian health goods and other goods. Were fine. But only find those in specialty shops. Germany does have a name. I agree. Russia doesnt. Their history for goods wasnt good. Stuck with them in name only, as like most parts, are made with the same in both countries.

Pirey

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Post n°262

Re: Russian Economy General News: #3

Pirey Mon Dec 15, 2014 7:57 pm

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone russia

In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

Viktor

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Post n°263

Re: Russian Economy General News: #3

Viktor Mon Dec 15, 2014 8:40 pm

Little bit of good news

Rosstat: industrial production in Russia in January-November increased by 1.5%

TC and Vietnam have completed negotiations on a free trade agreement

In Russia in 2014 will build 71 million square meters of housing, said Men

Russian banks have begun to test the connection to the national system of payment cards

Hopefully avoidable

CB: Russia's GDP at an oil price of $ 60 will fall in 2015 to 4.5-4.7%

sepheronx

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Post n°264

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 10:54 pm

Viktor wrote:Little bit of good news

Rosstat: industrial production in Russia in January-November increased by 1.5%

TC and Vietnam have completed negotiations on a free trade agreement

In Russia in 2014 will build 71 million square meters of housing, said Men

Russian banks have begun to test the connection to the national system of payment cards

Hopefully avoidable

CB: Russia's GDP at an oil price of $ 60 will fall in 2015 to 4.5-4.7%

If it does, then this should be indication to do something else.

One thing I will admit that Hannable may be right in what his view towards is, that there is indeed a lack of Russian end goods in the market. At least anything outside of Russia. These massive state run companies come up with advance technology but for state purposes only. I do not see these companies coming out with engines for automobile while they do make engines for trains, tractors, military trucks, etc. Or, you do not see MCST processors on desktops but only on institutions who use the processors in HPC setups. Even if it doesn't reach western market (doubt it would ever because of politics), at least outside of Russia.

TR1

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Post n°265

Re: Russian Economy General News: #3

TR1 Mon Dec 15, 2014 11:12 pm

Pirey wrote:

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone
In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

\

Norway has 145+ million people? Really?

If Russia had a tiny population it could laugh at these oil drops without any consequences. If it suddenly had no pensions and social welfare costs and subsidies I'd be shrugging about the OPEC decision.

sepheronx

sepheronx: Posts : 8823
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Post n°266

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 11:15 pm

TR1 wrote:

Pirey wrote:

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone
In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

\

Norway has 145+ million people? Really?

If Russia had a tiny population it could laugh at these oil drops without any consequences. If it suddenly had no pensions and social welfare costs and subsidies I'd be shrugging about the OPEC decision.

Well, Norway is now facing many issues now too, regarding pensions. Seems a global recession has hit but no one is willing to state it.

TR1

TR1: Posts : 5435
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Post n°267

Re: Russian Economy General News: #3

TR1 Mon Dec 15, 2014 11:21 pm

sepheronx wrote:

TR1 wrote:

Pirey wrote:

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone
In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

\

Norway has 145+ million people? Really?

If Russia had a tiny population it could laugh at these oil drops without any consequences. If it suddenly had no pensions and social welfare costs and subsidies I'd be shrugging about the OPEC decision.

Well, Norway is now facing many issues now too, regarding pensions. Seems a global recession has hit but no one is willing to state it.

Ofc, but relative to population their Sovereign Wealth Fund is huge compared to Russia's as well, so they have far more insulation from these oil shocks.

Russia could also have a much larger SWF by now, but given how much is stolen from natural resource export income....

Pirey

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Post n°268

Re: Russian Economy General News: #3

Pirey Mon Dec 15, 2014 11:26 pm

TR1 wrote:

Pirey wrote:

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone
In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

\

Norway has 145+ million people? Really?

If Russia had a tiny population it could laugh at these oil drops without any consequences. If it suddenly had no pensions and social welfare costs and subsidies I'd be shrugging about the OPEC decision.

Who said that Norway got 145?
I just argued that there are countries that are not third world countries and still they are exproting gas+oil because they can.

sepheronx

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Post n°269

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 11:30 pm

TR1 wrote:

sepheronx wrote:

TR1 wrote:

Pirey wrote:

Hannibal Barca wrote:Sorry but denying the truth is not gonna change anything. Russian exports is 70% materials. Only third world countries match this.
Germany's gdp is higher despite Germany's land is poor. Germany produce a hell lot of every day products, Russia nothing.
Germany not producing TVs? God!!!

Edit: There are a lot of reasons why Russia has low end products. Not because they are cheap. because they are shit!
Vehicle industry is a shame the world over! Even Iran has better auto manufacturers! I would excuse eg Argentina
but with Russia's expertise and industry failing to produce a strong consumer industry is totally unacceptable.
Is the only major weapons exporter in human history that came short of doing so!!

Does Norway looks to you like a third world country? Their export is like 56% consisted of oil+gas.

Im new memeber here, so hello to everyone
In my eyes the key for Russia is to continue with the investements in all sectors and controling the inflation. Because Russia is now capitalistic country and one of the biggest fears of Keyns is liquidity trap.

\

Norway has 145+ million people? Really?

If Russia had a tiny population it could laugh at these oil drops without any consequences. If it suddenly had no pensions and social welfare costs and subsidies I'd be shrugging about the OPEC decision.

Well, Norway is now facing many issues now too, regarding pensions. Seems a global recession has hit but no one is willing to state it.

Ofc, but relative to population their Sovereign Wealth Fund is huge compared to Russia's as well, so they have far more insulation from these oil shocks.

Russia could also have a much larger SWF by now, but given how much is stolen from natural resource export income....

Well, those lucrative stealing days are pretty much over. Now that it has gone back to east vs west mentality, things are going to be real tight soon for Russian oligarchs. Actually, now most funds are being used to fund new production lines so in the end, hopefully, more money. I think there is a good and bad to just sitting on the money. I don't think that oil prices are going to drop anytime soon so having a bunch of money to sit on may not be the best. But investing in it is the right thing to do. I think we may end up going back to a system where people are producing what is in demand, in smaller amounts, rather than the overtly gross over production that has hurt us the last time in 2008 and now (I think it was mentioned about in 2009/10 that bankers and business people did not learn a single thing from the last crisis and that we are headed in the same direction. Guess they were right). Nigeria, Japan, Venezuela, Norway, etc are all getting hit hard economically. Already, they are predicting massive issues here in Alberta and all of Canada. So we are next to be on the list of hit hard nations.

Pirey

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Post n°270

Re: Russian Economy General News: #3

Pirey Mon Dec 15, 2014 11:45 pm

Russia's Central Bank Raises Key Rate to 17 Pct. From 10.5 Pct. Amid Currency Meltdown

Hope its only a short term tool for slowing the fall of the ruble.

Hannibal Barca

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Post n°271

Re: Russian Economy General News: #3

Hannibal Barca Mon Dec 15, 2014 11:48 pm

First of all this is a global economic crisis have no doubt. It is an anticipated one, every 6-7 years happens a new crisis historically but this time we haven't yet recovered from the first one. All in all I would rate Russia economically after 2000 with a respectful 7 in difficult times, I think they did great steps but unfortunately they had to start from far far behind.
Believe it or not this crisis is all dollar. IMO is evident that america's soft power is disastrous for every country around the world having 18% of global gdp but such asymmetrical influence.
Ruble doesn't go down, Yen,Krone, Canadian dollar et all. Is dollar that is inexplicably strong and this reinforce the drop in oil price and is so strong that American derivatives have amassed mountains upon mountains of idle capital.
EURO had the theoretical capacity to hit dollar but unfortunately Brussels traitors decided to reinforce American economic tyranny. If USA doesn;t suffer a long awaited and perfectly justified massive downgrade in ratings and market trust we will suffer once again like in 2009 and this time will be many times worse.

kvs

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Post n°272

Re: Russian Economy General News: #3

kvs Mon Dec 15, 2014 11:49 pm

Pirey wrote:Russia's Central Bank Raises Key Rate to 17 Pct. From 10.5 Pct. Amid Currency Meltdown

Hope its only a short term tool for slowing the fall of the ruble.

I hope the next step is some summary executions of these CBR 5th columnists.

The exchange rate of the ruble has been tracking the oil price. Did anyone expect that when the oil price went from $70 to $50
that the ruble would stay in the low 50 to the dollar range? Apparently the CBR did and that is why they need to be purged
ASAP.

sepheronx

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Post n°273

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 11:50 pm

Hannibal Barca wrote:First of all this is a global economic crisis have no doubt. It is an anticipated one, every 6-7 years happens a new crisis historically but this time we haven't yet recovered from the first one. All in all I would rate Russia economically after 2000 with a respectful 7 in difficult times, I think they did great steps but unfortunately they had to start from far far behind.
Believe it or not this crisis is all dollar. IMO is evident that america's soft power is disastrous for every country around the world having 18% of global gdp but such asymmetrical influence.
Ruble doesn't go down, Yen,Krone, Canadian dollar et all. Is dollar that is inexplicably strong and this reinforce the drop in oil price and is so strong that American derivatives have amassed mountains upon mountains of idle capital.
EURO had the theoretical capacity to hit dollar but unfortunately Brussels traitors decided to reinforce American economic tyranny. If USA doesn;t suffer a long awaited and perfectly justified massive downgrade in ratings and market trust we will suffer once again like in 2009 and this time will be many times worse.

Funny how US is trying so hard to devalue its currency and yet failed to do so. Japan is doing a decent job of devaluing it.

kvs wrote:

Pirey wrote:Russia's Central Bank Raises Key Rate to 17 Pct. From 10.5 Pct. Amid Currency Meltdown

Hope its only a short term tool for slowing the fall of the ruble.

I hope the next step is some summary executions of these CBR 5th columnists.

The exchange rate of the ruble has been tracking the oil price. Did anyone expect that when the oil price went from $70 to $50
that the ruble would stay in the low 50 to the dollar range? Apparently the CBR did and that is why they need to be purged
ASAP.

I hope there are mass riots on the streets regarding the interest rates. Hopefully that will be what will drive Russian gov to do something about CBR. 17%? That is economic crushing rates. They effectively just f**** the Russian economic chance of diversification. Sorry, the economic chance for small businesses diversification. Big enterprises seems to get their funds from themselves or through venturfunds or other funds from Rostec. Then again, Canadians were complaisant with interest rates being so high and people with newer homes having to sleep in sleeping bags and eating out of a can for quite sometime during the 80's. Guess Russian's learned better than we did.

TR1

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Post n°274

Re: Russian Economy General News: #3

TR1 Mon Dec 15, 2014 11:54 pm

Same thing they did in 2008 lol, raise interest rates to astronomical levels.

sepheronx

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Post n°275

Re: Russian Economy General News: #3

sepheronx Mon Dec 15, 2014 11:56 pm

TR1 wrote:Same thing they did in 2008 lol, raise interest rates to astronomical levels.

And it didn't work. Nor will it work now since Ruble is free floating. I think CBR doesn't know what to do and is trying to do something but instead, causing more damage. I think it is better if they just bow out already.

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