More Bad News for Russia

[JayH]

The Russian leader today announced a $35 billion anti-crisis spending plan, but admitted to reporters he did not know how best to implement the cash injection into the economy, a local Russian news station reported.

The economy aside, Russia faces its own threat from Islamic extremism, weak national institutions, increasing societal pressures, and looming unemployment.

size=14pt]The $35 billion problem worrying Vladimir Putin much more than Ukrainian sanctions[/size]

Russia is ranked as among the most corrupt nations on the planet, scoring just 27 out of 100 (0: highly corrupt, 100: clean) in Transparency Internationals 2014 ranking. It came below countries such as Pakistan, Gambia, Sierra Leone and Nigeria.

What this corruption translates to (returning to the economy) is that since the Russian government slid back reforms – for example, re-taking many of the businesses that were privatised during the boom years – productivity and investment have slumped.

Put simply: there is no growth as a direct result of corruption. Previous sources of growth have been exhausted and investment requires protection of property right and enforcement of contracts – exactly what corruption dissuades.
http://www.independent.co.uk/news/world/europe/the-35-billion-problem-worrying-vladimir-putin-more-more-than-ukrainian-sanctions-10045102.html

[lordtiberius]

More cheerleading Jay?


Swiss Bankers Helped Putin
http://www.bloomberg.com/news/articles/2015-02-08/leaked-hsbc-list-shows-who-was-banking-on-swiss-secrecy

Sanctions LOL

[AkMike]

Putin Lets Consumers Feel Pain as Russian Slump Deepens

Crushed by a 44 percent slump in the ruble in the past year as prices soar, retail sales are set for what Otkritie Capital predicts will be their biggest decline since the breakup of the Soviet Union in 1991, when savings were wiped out and households endured food shortages and hyperinflation. That’s unnerved consumers like Svetlana Korotkova, who’s stockpiling cereals and canned goods to build up what she calls her “safety cushion,” a lesson she learned from perestroika-era deprivation in the 1980s.

“Government resources are very limited now, so I don’t expect strong help,” said Korotkova, a 42-year-old accountant who spoke as she browsed through a shopping mall in Tula, about 200 kilometers (125 miles) south of Moscow.

Read the rest here,

http://www.bloomberg.com/news/articles/2015-02-16/putin-lets-russian-consumers-feel-the-pain-as-economy-succumbs

[lordtiberius]

You gotta love this guy

http://www.dw.de/kremlin-critic-alexei-navalny-detained-in-moscow-subway/a-18259559

[Taz]

Pretty compelling proof Russia was launching attacks from their territory as early as 11 July 2014.


http://www.businessinsider.com/proof-that-russia-shelled-ukrainian-troops-and-took-control-of-the-rebel-held-border-2015-2?

[AkMike]

Pretty compelling proof Russia was launching attacks from their territory as early as 11 July 2014.


http://www.businessinsider.com/proof-that-russia-shelled-ukrainian-troops-and-took-control-of-the-rebel-held-border-2015-2?

 Good catch Taz! Dyakuyu

[AkMike]

Can Russia Survive After Ukraine?

Yvgeny Gontmakher, one of Russia’s leading economists, told forum attendees that Putin himself recognizes that the situation is dire. “Putin realized that current political vertical of state management was not effective and held meetings called ‘the system’s crises,’” Gontmakher said.

“Analyzing the current situation, I would predict that the economy’s growth would shrink by 5 percent in 2015 and that it would be either zero or negative during the coming decade,” Gontmakher concluded. “But all that is not going to matter to the society, as people’s main concern would be where to get food,” the expert added.

Read the rest at

http://www.thedailybeast.com/articles/2015/02/17/can-russia-survive-after-ukraine.html

[lordtiberius]

Russia will shrink by 5%?

Ukraine has already shrunk by 11.4%.

[AkMike]

Russia Sold Off $22 Billion in U.S. Bonds to Slow Economy's Slide
 (US BONDS??? WTF???)
http://www.themoscowtimes.com/business/article/russia-sold-off-22-billion-in-u-s-bonds-to-slow-economy-s-slide/516265.html

Russians Feel the Pinch of Rising Food Prices as Inflation Bites
http://www.themoscowtimes.com/business/article/russians-feel-the-pinch-of-rising-food-prices-as-inflation-bites/516256.html

Polish Retailer LPP Says It May Halt Expansion in Russia, Ukraine
http://www.themoscowtimes.com/business/article/polish-retailer-lpp-says-it-may-halt-expansion-in-russia-ukraine/516255.html

Despite Cuts, Russian Deficit to Reach 3.2% of GDP in 2015
http://www.themoscowtimes.com/business/article/despite-cuts-russian-deficit-to-reach-3-2-of-gdp-in-2015/516253.html

Russian Investment Firm Proxima Walks Away From JKX Oil and Gas
http://www.themoscowtimes.com/business/article/russian-investment-fim-proxima-walks-away-from-jkx-oil-and-gas/516247.html

Gazprom's Falling Gas Sales Pummel Russian Budget
http://www.themoscowtimes.com/business/article/gazprom-s-falling-gas-sales-pummel-russian-budget/516210.html

Russian Assets Continue Slide as Oil Prices Drop
http://www.themoscowtimes.com/business/article/russia-s-ruble-weakens-on-falling-oil-price/516200.html

Moscow Searches for Cash to Fund New Metro Stations on Red Line
http://www.themoscowtimes.com/business/article/moscow-searches-for-cash-to-fund-new-metro-stations-on-red-line/515995.html

'Moskva-City' Skyscrapers Set to Be Emptier Than Ever
http://www.themoscowtimes.com/business/article/moskva-city-skyscrapers-set-to-be-emptier-than-ever/516022.html


But dirt is still cheap and filling.. 

[lordtiberius]

Navalny given 15 days for breaking the terms of his House arrest:

http://www.nytimes.com/aponline/2015/02/19/world/europe/ap-eu-russia-opposition-leader.html?_r=0

he won't be able to attend his pro-Navalny march on the 1st

[AkMike]

Belarus gets ready to Bail out on Russia

Lukashenka Says Belarus Ready For Dialogue With NATO

Belarusian President Alyaksandr Lukashenka says his country is ready for a "constructive dialogue" with NATO.

Speaking to top Belarusian military officials in Minsk on February 19, Lukashenka said: "As a sovereign state we are open, in particular, to constructive dialogue with NATO on parity and transparency principles."

He added that "we have a lot of common issues [with NATO]; joint work on which fully meets Belarus’s interests."

Lukashenka -- who has ruled for 21 years and been called the last dictator of Europe -- said the fighting in Ukraine has shown that Belarus must have an army capable of protecting "its national interests."

"If need be, we have to be able to defend the independence and sovereignty of our country," he said.

Lukashenka added that additional finances will be allocated for the ongoing systemic renovation of arms in Belarusian armed forces which is scheduled to be accomplished by 2020.

http://www.rferl.org/content/l...-talks/26858369.html

[southernX]

MIKE ,
not really surprising at all 

lukashenka must be a worried man in belarus , id guess khazakstan would be in a similar frame of thought over the ukraine invasion as would others around the russian border

says a lot about mr putins , man of power /influence doesnt it , 

SX

[AkMike]

Nope and I suspect that the other `stans will be doing some serious thinking along the same lines IF they're smart.

 No one wants to be friends with this despot unless he pays them off.  (Think of the kid that was so ugly that his parents had to tie a pork chop around his neck just to get the dog to like him.)

Russia will be ostracized for generations because of these actions.

[AkMike]

Kazakhstan readies to jump from Russian 'Titanic'
  Putin's at the helm and the ship is sinking..

Read more on UNIAN: http://www.unian.info/politics/1045561-kazakhstan-readies-to-jump-from-russian-titanic.html

[sleepycat]

Moody's cut Russia rating down to junk status...

http://finance.yahoo.com/news/moodys-cuts-russia-junk-213610047.html


What will mongoloid putin do now?
Create his own patriotic Russian credit rating agency to give the country a AAA+ rating?
 

[AkMike]

Awww Gee that tooo bad! My heart bleeds purple peanut butter for them.. (Almost)

[AkMike]

Ruble tumbles after oil prices fall again

Falling oil prices have again driven the Russian ruble lower, destroying gains made earlier in the week.

In early morning trading on February 19, the ruble was almost one percent weaker against the dollar at 62 to one, and 71 rubles for one euro. Brent crude oil was almost two per cent lower, moving towards a barrel as fresh worries of oversupply gripped energy markets.

Oil is one of Russia's chief exports and hence is an important driver for all Russian assets.
http://uatoday.tv/business/ruble-tumbles-after-oil-prices-fall-410411.html

[fathertime]

Moody's cut Russia rating down to junk status...

http://finance.yahoo.com/news/moodys-cuts-russia-junk-213610047.html


What will mongoloid putin do now?
Create his own patriotic Russian credit rating agency to give the country a AAA+ rating?
 

I was browsing the internet today and noticed that the Ukraine currency is now down to 28 for the dollar....closing in on 4 times less value then a year ago.
The Russian currency has risen slightly to just under 62 to the dollar....1/2 the value it had roughly a year ago. 


It doesn't appear the open market cares very much for the Moody credit ratings...although let's see what happens Monday when the market reopens. 

[Larry1]

It doesn't appear the open market cares very much for the Moody credit ratings...although let's see what happens Monday when the market reopens.

Being downgraded to junk status will make it more expensive to borrow money.

[AkMike]

I was browsing the internet today and noticed that the Ukraine currency is now down to 28 for the dollar....closing in on 4 times less value then a year ago.

Are you telling falsehoods on purpose? 
 You'd better check your arithmetic again. A year ago the hyrivna was at 8.9 (well call it 9 to make it easier for you)  Today it's at 27.99 as per one of the best online converters around.
 (Let's make that an even 28 for easy figuring.)

 9X4=36 Not 28 

 9X3= 27  (much closer to reality that 36.) Correct?

 But the correct number (rounded) is really 3.11  NOT closing in on  4

http://www.xe.com/currencycharts/?from=USD&to=UAH&view=1Y

[fathertime]

Are you telling falsehoods on purpose? 
 You'd better check your arithmetic again. A year ago the hyrivna was at 8.9 (well call it 9 to make it easier for you)  Today it's at 27.99 as per one of the best online converters around.
 (Let's make that an even 28 for easy figuring.)

 9X4=36 Not 28 

 9X3= 27  (much closer to reality that 36.) Correct?

 But the correct number (rounded) is really 3.11  NOT closing in on  4

http://www.xe.com/currencycharts/?from=USD&to=UAH&view=1Y

You seem a little sensitive regarding the PLUMMETING Hryvnia!  According to the resource I'm using, In January 2014 it was around 8 flat where it was for several years, who cares about an extra 20-30 days, it is about a year.  ....now it is around 28....it has rounded 3X and is steadily marching for 4X. 


Fathertime! 

[AkMike]

I'm not worried about the hyrivna. I do tend to wonder why some exaggerate to the point of telling falsehoods.  Motive? 

[fathertime]

I'm not worried about the hyrivna. I do tend to wonder why some exaggerate to the point of telling falsehoods.  Motive? 

I don't see the falsehood, the Ukrainian currency is indeed likely headed for 4 times less value then around a year ago.  I've noticed there is much talk about currencies, so why not bring up this fact as well?  Weren't you of the many  pumping 20 dollar oil? 


Fathertime!   

[AkMike]

Your choice of wording leaves a lot to be desired as far as making it more accurate..

 Unless Miss Cleo has called you OR you've got your own personal crystal ball for prognostications you have no idea where the hyrivna is headed. Another assumption or falsehood!

 Even the FOREX wizards don't know.

 

[fathertime]

Your choice of wording leaves a lot to be desired as far as making it more accurate..

 Unless Miss Cleo has called you OR you've got your own personal crystal ball for prognostications you have no idea where the hyrivna is headed. Another assumption or falsehood!

 Even the FOREX wizards don't know.

 

...and what about all YOUR speculation about the Russian currency going to 150-200?  And oil going to 20?   Unless Miss Cleo has called YOU, your prognostications have been fruitless and wrong thus far...You shouldn't mind if others make prognostications that may or may not turn out wrong...thus far the Ukrainian currency has TANKED...and it could easily hit 4 times less value...maybe more...it is well on its way. 


Fathertime!