Wednesday, December 10, 2014

Report: Russian Economy Suffering

(Moscow, Russia) Due to sinking oil prices and Western economic sanctions, the Russian economy has been decimated. Russia is no longer the world's eighth largest economy.
Russia has lost its ranking as the world's eighth biggest economy, shrinking in just nine months from a $2.1 trillion petro-giant to a mid-size player comparable with Korea or Spain.
Apparently, it's a crisis for Putin.


Doom said...

I warned him, when he first entered Ukraine, that this would not end well. He has no clue what he is dealing with. Not that I know names, orgs, and such, but I smelled enough to know that he just stepped in a steaming pile of dinosaur dung, and the dinosaur would be able to track him and deal with him for it.

My guess, he actually thought China, or his own industrialists, was/were on his side. His ego isn't allowing him to back off. If he doesn't change, he is going to get an inside taste of what opposition reporters and banksters have tasted. Probably not, but it is quite possible. Crisis? He chose it. Then again, the thought war would be mechanical. So 20th century. Yeah, he'll learn. Warned him, I did.

Wireless.Phil said...

Read recently they made a natural gas deal with Ukraine, but I didn't bother to read it. The main point was that Russia had to cave.

From Dec. 2nd 2014

Funny how things work out.

Wall Street Journal, 16 minutes ago:
The U.S. oil contract lost $1.01, or 1.5%, to $67.95 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, dropped 65 cents, or 0.9%, to $71.89 a barrel on ICE Futures Europe.

Russia expecting to sink into recession
Date 02.12.2014

The Russian economy is set to fall into recession next year as Western sanctions, low oil prices and massive capital outflows will take their toll. Moscow also believes its weakening currency will fan inflation.


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