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    Russian Economy General News: #5

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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Wed Dec 09, 2015 11:29 pm

    Interest-Free Finance is Being Seriously Discussed in Russia
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    kvs

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    Re: Russian Economy General News: #5

    Post  kvs on Thu Dec 10, 2015 12:16 am

    sepheronx wrote:I would wager that Indias economy up until recently was stronger than Russias in terms of less reliability in foreign direct investments.  India had a very low FDI than Russia. Now Russia has a low FDI and it was a huge contributor to Russian GDP growth (even though imo it should never have been counted in first place). So India is less reliant on foreign agents than Russia was.  Now things are changing as India is pushing for more FDI which IMO is dangerous in long run.  It is also showing as dangerous for China too as China scurries to increase it or even stabilize it.  India wants it to become a China.

    Actually,

    one of the biggest complaints about Russia's economy over the last 15 years has been the lack of FDI. I recall endless comparisons
    with how much China was getting. The Kudrin/Gaidar/monetarist camp worships Mammon and to them money is more important
    than anything else. Incrementally developing Russia's economy through local initiative and financing was not important. Attracting
    precious western coins was.

    NATO snookered itself by not investing in Russia and even having its propaganda dog MSM try to frighten off investors into Russia.
    This helped the Russian economy to stay independent. Compare to Poland, which is Germany's bitch.
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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Dec 10, 2015 1:49 am

    kvs wrote:
    sepheronx wrote:I would wager that Indias economy up until recently was stronger than Russias in terms of less reliability in foreign direct investments.  India had a very low FDI than Russia. Now Russia has a low FDI and it was a huge contributor to Russian GDP growth (even though imo it should never have been counted in first place). So India is less reliant on foreign agents than Russia was.  Now things are changing as India is pushing for more FDI which IMO is dangerous in long run.  It is also showing as dangerous for China too as China scurries to increase it or even stabilize it.  India wants it to become a China.

    Actually,

    one of the biggest complaints about Russia's economy over the last 15 years has been the lack of FDI.   I recall endless comparisons
    with how much China was getting.   The Kudrin/Gaidar/monetarist camp worships Mammon and to them money is more important
    than anything else.   Incrementally developing Russia's economy through local initiative and financing was not important.   Attracting
    precious western coins was.  

    NATO snookered itself by not investing in Russia and even having its propaganda dog MSM  try to frighten off investors into Russia.
    This helped the Russian economy to stay independent.    Compare to Poland, which is Germany's bitch.
    What? Russia was third largest in the world for FDI. Third to China and US.
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    kvs

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    Re: Russian Economy General News: #5

    Post  kvs on Thu Dec 10, 2015 3:59 am

    sepheronx wrote:
    kvs wrote:
    sepheronx wrote:I would wager that Indias economy up until recently was stronger than Russias in terms of less reliability in foreign direct investments.  India had a very low FDI than Russia. Now Russia has a low FDI and it was a huge contributor to Russian GDP growth (even though imo it should never have been counted in first place). So India is less reliant on foreign agents than Russia was.  Now things are changing as India is pushing for more FDI which IMO is dangerous in long run.  It is also showing as dangerous for China too as China scurries to increase it or even stabilize it.  India wants it to become a China.

    Actually,

    one of the biggest complaints about Russia's economy over the last 15 years has been the lack of FDI.   I recall endless comparisons
    with how much China was getting.   The Kudrin/Gaidar/monetarist camp worships Mammon and to them money is more important
    than anything else.   Incrementally developing Russia's economy through local initiative and financing was not important.   Attracting
    precious western coins was.  

    NATO snookered itself by not investing in Russia and even having its propaganda dog MSM  try to frighten off investors into Russia.
    This helped the Russian economy to stay independent.    Compare to Poland, which is Germany's bitch.
    What? Russia was third largest in the world for FDI. Third to China and US.

    Where is the source for this information?

    http://data.worldbank.org/indicator/BX.KLT.DINV.CD.WD

    FDI inflows into Russia are smaller than into Singapore.
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Dec 10, 2015 4:16 am

    Was posted before. Ill check trading economics when on PC.  But FDI was massive in total inflow (not per year but total) and dropped significantly after all this.  But FDI IMO is a method were the foreigners will arm twist you later.

    Here is an RT link from 2014:
    https://www.rt.com/business/russia-top-3-fdi-356/

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    Re: Russian Economy General News: #5

    Post  kvs on Thu Dec 10, 2015 5:53 am

    I read the UNCTAD report and I find it fishy since they talk about 2013 as being estimated in some places and then as if it was
    final numbers in other places. It looks like the UNCTAD number is some estimate for 2013. The World Bank data are detailed, year by year
    actual data and not estimates and for the USA, China and the Netherlands they totally disagree with the UNCTAD report.

    The World Bank numbers are more consistent with what I have been reading over the last 15 years. China gets hundreds
    of billions of dollars in net FDI each year. Russia never exceeded $100 billion.
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Dec 10, 2015 6:37 am

    Regardless, I am not one to praise FDI.  I think it is a hinderance more than anything.
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    Re: Russian Economy General News: #5

    Post  PapaDragon on Fri Dec 11, 2015 9:48 pm


    You all know where I stand on economy and oil but I am still posting article from Fecal Daily (Telegraph) for discussion purposes. They start OK but then go full retard as usual:


    Russia plans $40 a barrel oil for next seven years as Saudi showdown intensifies

    'We will live in a different reality,' said a top Kremlin official. The message is aimed squarely at Saudi Arabia in a war for market share

    http://www.telegraph.co.uk/finance/economics/12046185/russia-opec-saudi-arabia-bluff-40-oil-price.html#disqus_thread

    Russia is battening down the hatches for a Biblical collapse in oil revenues, warning that crude prices could stay as low as $40 a barrel for another seven years.

    Maxim Oreshkin, the deputy finance minister, said the country is drawing up plans based on a price band fluctuating between $40 to $60 as far out as 2022, a scenario that would have devastating implications for Opec.

    It would also spell disaster for the North Sea producers, Brazil’s off-shore projects, and heavily indebted Western producers. “We will live in a different reality,” he told a breakfast forum hosted by Russian newspaper Vedomosti.

    The cold blast from Moscow came as US crude plunged to $35.56, pummelled by continuing fall-out from the acrimonious Organisaton of Petrol Exporting Countries meeting last week. Record short positions by hedge funds have amplified the effect.

    Bank of America said there was now the risk of “full-blown price war” within Opec itself as Saudi Arabia and Iran fight out a bitter strategic rivalry through the oil market.

    Brent crude fell to $37.41, even though demand is growing briskly. It is the lowest since the depths of the Lehman crisis in early 2009. But this time it is a 'positive supply shock', and therefore beneficial for the world economy as a whole.

    The International Energy Agency said in its monthly market report that Opec has stopped operating as a cartel and is “pumping at will”, aiming to drive out rivals at whatever cost to its own members. Opec revenues will fall to $400bn (£263bn) this year if current prices persist, down from $1.2 trillion in 2012. This is a massive shift in global wealth.

    The IEA said global oil stocks were already at nose-bleed levels of 2,971m barrels, and were likely to increase by another 300m over the next six months as “free-wheeling Opec policy” floods the market.

    The watchdog played down fears that the world was running out of sites to store the glut, citing 230m barrels of new storage coming on stream. Inventories in the US are still only at 70pc capacity. But this could change once Iranian crude comes on stream later next year.

    Russia’s $40 warning is the latest escalation in a game of strategic brinkmanship between the Kremlin and Saudi Arabia, already at daggers drawn over Syria.

    The Russian contingency plans convey a clear message to Riyadh and to Opec’s high command that the country can withstand very low oil prices indefinitely, thanks to a floating rouble that protects the internal budget.

    Saudi Arabia is trapped by a fixed exchange peg, forcing it to bleed foreign reserves to cover a budget deficit running at 20pc of GDP.

    Russia claims to have the strategic depth to sit out a long siege. It is pursuing an import-substitution policy to revive its industrial and engineering core. It can ultimately feed itself. The Gulf Opec states are one-trick ponies by comparison.

    The deputy premier, Arkady Dvorkovich, told The Telegraph in September that Opec will be forced to change tack. “At some point it is likely that they are going to have to change policy. They can last a few months, to a couple of years," he said.

    Kremlin officials suspect that the aim of Saudi policy is to force Russia to the negotiating table, compelling it join Opec in a super-cartel controlling half the world’s production.

    Abdallah Salem el-Badri, Opec’s chief, came close to admitting this last week, saying the cartel is no longer big enough to act alone and will not cut output unless non-Opec producers chip in.

    “We are looking for negotiations with non-Opec, and trying to reach a collective effort. Everybody is trying to digest how they can do it,” he said

    Russia is in effect calling Opec’s bluff, gambling that it has the greater staying power. It cannot easily cut output since its main producers are listed companies, answerable to shareholders. Any arrangement would have to be subtle.

    Mr Dvorkovich gave an oblique answer when asked whether Russia would ever do a deal. "We are not going to cut supply artificially. Oil companies will act on their own. They will look at market forces and decide whether to invest more or less. If prices stay low, it is in the nature of oil companies to stabilize production, or even to cut production," he said.

    Whether Russia really can withstand the strain for years is an open question. The economy is in deep recession. Output has contracted by 4pc over the last year. Real incomes have fallen by 9pc. The latest gambit may in reality be a negotiating ploy.

    Mr Oreshkin said oil prices of $40 would force the government to bleed its reserve fund by 1.5 trillion roubles next year, or 2pc of GDP.

    Standard & Poor's says the budget deficit has reached 4.4pc of GDP, including local government shortfalls. A further $40bn is needed to bail out the banking system.

    “They just don’t have the money. The deficit is heading for 5pc of GDP,” said Lubomir Mitov from Unicredit.

    “The biggest danger is that the reserve fund will be exhausted by the end of 2016. They will then have to monetise the deficit or cut real spending by another 10pc. They can’t cut defence so that leaves social welfare,” he said.

    Bond markets in Russia are shallow. The country cannot hope to borrow abroad on any scale as long as it is under Western sanctions.

    Saudi Arabia’s leaders are fully aware of the Kremlin’s painful predicament. They appear certain that they can outlast Russia in a long duel. By the time we find out which of these two petro-giants is stronger, both may be on their knees.
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    Re: Russian Economy General News: #5

    Post  kvs on Sat Dec 12, 2015 2:25 am

    What shitty article, not a single mention of the actual Saudi production volume. It is as of now and since last year close to 10 million
    barrels per day. This is the level it has been at over most of the last 15 years:

    http://www.tradingeconomics.com/saudi-arabia/crude-oil-production


    That recent "spike" of 0.5 million barrels per day followed by a collapse down by 0.3 million barrels per day clearly cannot explain the oil price
    dynamics. Oil crashed in 2014 already and the current drop to under $40 is anti-correlated with Saudi production. So, tell me again, how
    Saudi Arabia is driving down the oil price.

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    Re: Russian Economy General News: #5

    Post  Austin on Sat Dec 12, 2015 10:42 am

    The Russian Finance Ministry has indicated with Average Ural price stays around $40 for 2016 then they will have to spend additional 1.5 trillion rouble from Reserve Fund , Which means they will have to take 1.2 trillion from reserver fund and around 300-500 billion from NWF.

    The reserve fund will be fully depleted by end of 2016.

    So what are the options when it comes to reducing expenditure ? Cutting Social Spending and Def Spending seems the only logical choice ?

    Increasing Tax at the time of recession wont be a good idea either.


    I think world economy is itself entering into a deep recession , OPEC is really playing little role year , We are seeing the end game of reserve currency an effect of prolonged QE
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    Re: Russian Economy General News: #5

    Post  ExBeobachter1987 on Sat Dec 12, 2015 11:49 am

    Austin wrote:So what are the options when it comes to reducing expenditure ?  Cutting Social Spending and Def Spending seems the only logical choice ?

    Increasing Tax at the time of recession wont be a good idea either.

    Why is cutting spending better than higher taxes?

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    Re: Russian Economy General News: #5

    Post  Austin on Sat Dec 12, 2015 12:26 pm

    Well you dont want to increase tax in recession but would rather people keep that money and spend it.

    Lets see what they are planning if they anticipate prolonged low oil price.

    I think we are at the brink of 2008 like crisis , just that it would be many time worse then it was then.
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    Re: Russian Economy General News: #5

    Post  ExBeobachter1987 on Sat Dec 12, 2015 12:40 pm

    Austin wrote:Well you dont want to increase tax in recession but would rather people keep that money and spend it.

    Cutting social spending means that people who have no choice but to spend their money will spend less.

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    Re: Russian Economy General News: #5

    Post  Austin on Sat Dec 12, 2015 1:07 pm

    Siluanov prevent a decline in oil prices during certain periods in 2016 to $ 30

    Moscow. 12 December. INTERFAX.RU - Russian Finance Minister Anton Siluanov believes that in 2016 the price of oil in certain periods can be down to $ 30.

    "Before we adopt the budget, we see that the situation with the macroeconomy changes. I did not for the better. The price of oil, we budgeted $ 50 a barrel, now around $ 36-37 per barrel. It is unclear what will happen next," - he said he was at the board meeting of financial, treasury and tax authorities of Tatarstan on Saturday.

    According Siluanova on the price decline may affect, in particular, there is an overproduction of oil in the world and access to the Iranian market.

    "Everything indicates that low oil prices are likely in the next year to dominate and it is possible that in certain periods it would be, perhaps, $ 30 per barrel, maybe less, we do not know, - said the minister. - Because a year ago, if we were told that it would be below 40, all probably would have just laughed. Therefore, we must prepare for such difficult times for us. "
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    Re: Russian Economy General News: #5

    Post  kvs on Sat Dec 12, 2015 1:23 pm

    Austin wrote:The Russian Finance Ministry has indicated with Average Ural price stays around $40 for 2016 then they will have to spend additional 1.5 trillion rouble from Reserve Fund , Which means they will have to take 1.2 trillion from reserver fund and around 300-500 billion from NWF.

    The reserve fund will be fully depleted by end of 2016.

    So what are the options when it comes to reducing expenditure ?  Cutting Social Spending and Def Spending seems the only logical choice ?

    Increasing Tax at the time of recession wont be a good idea either.


    I think world economy is itself entering into a deep recession , OPEC is really playing little role year , We are seeing the end game of reserve currency an effect of prolonged QE

    Canada does not have a reserve fund. The USA does not have a reserve fund. You make it sound like Russia
    can't live without one. The Russian government can burn through this luxury item to soften the blow and then do
    what the rest of the "first world" does and that is raise taxes. Perhaps people in Russia should learn to live with
    income taxes higher than 13%. That 13% figure is straight from the USSR era and has nothing to do with capitalist
    reality.

    Also, fixating on balancing the budget is a 100% monetarist dogma which, BTW, no country in NATO adheres to.
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    Re: Russian Economy General News: #5

    Post  kvs on Sat Dec 12, 2015 1:28 pm

    Austin wrote:Siluanov prevent a decline in oil prices during certain periods in 2016 to $ 30

    Moscow. 12 December. INTERFAX.RU - Russian Finance Minister Anton Siluanov believes that in 2016 the price of oil in certain periods can be down to $ 30.

    "Before we adopt the budget, we see that the situation with the macroeconomy changes. I did not for the better. The price of oil, we budgeted $ 50 a barrel, now around $ 36-37 per barrel. It is unclear what will happen next," - he said he was at the board meeting of financial, treasury and tax authorities of Tatarstan on Saturday.

    According Siluanova on the price decline may affect, in particular, there is an overproduction of oil in the world and access to the Iranian market.

    "Everything indicates that low oil prices are likely in the next year to dominate and it is possible that in certain periods it would be, perhaps, $ 30 per barrel, maybe less, we do not know, - said the minister. - Because a year ago, if we were told that it would be below 40, all probably would have just laughed. Therefore, we must prepare for such difficult times for us. "

    Siluanov is showing his idiocy spouting off about things he has clearly no understanding of. It's only "overproduction" because the
    demand is not there. The real problem is the global recession induced lack of demand. And in case anyone thinks that everything is hunky dory:


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    Re: Russian Economy General News: #5

    Post  Austin on Sat Dec 12, 2015 3:46 pm

    kvs wrote:
    Canada does not have a reserve fund.   The USA does not have a reserve fund.   You make it sound like Russia
    can't live without one.   The Russian government can burn through this luxury item to soften the blow and then do
    what the rest of the "first world" does and that is raise taxes.   Perhaps people in Russia should learn to live with
    income taxes higher than 13%.   That 13% figure is straight from the USSR era and has nothing to do with capitalist
    reality.  

    Also, fixating on balancing the budget is a 100% monetarist dogma which, BTW, no country in NATO adheres to.

    Ofcourse they can live without Reserve Fund provided they are willing to borrow , which means increase their Debt , The FM has stated that Public Debt at end of 2016 will be about 16 % of GDP that is based on oil price of $50 for the year.

    I do not know how good is the internal debt market in Russia to borrow , not withstanding the aversion from Finance Ministry to increase debt beyond 16 % , Since External Debt is not possible how good is the internal market ? The article posted above says its not good.

    Yes I agree 13 % flat tax is heaven , Out here in India we have 3 tax slab ranging from 10 % to 20 % and finally 30 % depending on how much you earn , but I think they should raise the flat tax to 15 % or even 18 % if possible.

    But I think politically Putin would be averse to raise tax . Increase Buisiness Tax wont be good either

    I think what they might do and I think its more likely is they would cut defence expenditure by 10 % and social spending by 5 % to manage the budget if Oil is averaged at $40 and more if it is $30.

    If they can generate more Debt and if Debt is available to Government at say interest rate of 7-8 % or may be lower they can increase the debt to 20 %.
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    Re: Russian Economy General News: #5

    Post  sepheronx on Sat Dec 12, 2015 5:01 pm

    No, decreasing defense spending is going to cause more problems you cannot seem to think about.  We have already gone through this as cutting defense spending is cutting at an industry that is 20% of the industrial complex of Russia (Wiki - significance of defense industry in economics, Sputnik article).  Did you know if you do that, then the increase in welfare recipients will drastically increase meaning far more poor people to take care of and significantly more money will need to be allocated to the social welfare? Whatever benefits gained from saving the money will instantly be lost and possibly even more money lost being spent on trying to help these same people.

    What they have been doing, which is smart, is actually increasing taxation on the extraction of resources.  This is going to bring in quite a bit of extra revenue.

    They can change the taxation process from one area to another and decrease it in other areas to increase development which will bring in even more money in taxation.  Russia's grey economy roughly translated to something like $90B:
    https://www.rt.com/business/siluanov-shadow-economy-gdp-055/

    http://www.bloombergview.com/articles/2015-10-01/emerging-economies-can-turbocharge-gdp

    In Canada, we borrow from the printing presses of other countries.  We are screwed one way or another as we currently are borrowing more and we are gonna increase the deficit now that Trudeau is in power and is now going against everything he claimed he would fight.

    The government wouldn't get the loans from the average banks.  They would get it from the CBR.  And the CBR is the one that can print the money so they will do so in order to provide the loans to the government.  Issue is, it will be at a high interest rates.  Something that the government will have to pay back at those rates.

    If oil drops to $30/BBL, they will simply increase taxation on extraction as well as the export duties on it.  They will end up cutting taxation on the processing of oil in order to increase demand of the processing of it but then increase petrol prices at the pump which will suck but if it is a modest increase, it will be somewhat unnoticeable to Russians and it will generate a ton of extra money.  This is their plan in Alberta here.


    Last edited by sepheronx on Sat Dec 12, 2015 5:31 pm; edited 1 time in total
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    Re: Russian Economy General News: #5

    Post  kvs on Sat Dec 12, 2015 5:19 pm

    I think Russia is well overdue for an increase of income taxes. People need to learn that social services and pensions are not manna from
    heaven. During the 1990s tax evasion was rampant and that was one of the justifications for a low income tax rate. But things need
    to change and tax cheats should not be pandered to. If people don't want to pay taxes, then the government should not supply all the
    welfare they expect. A progressive income tax system needs to be introduced. All those upper middle class whiners need to pay their
    share or bugger on off to NATO.
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    Re: Russian Economy General News: #5

    Post  sepheronx on Sat Dec 12, 2015 5:30 pm

    kvs wrote:I think Russia is well overdue for an increase of income taxes.   People need to learn that social services and pensions are not manna from
    heaven.   During the 1990s tax evasion was rampant and that was one of the justifications for a low income tax rate.   But things need
    to change and tax cheats should not be pandered to.   If people don't want to pay taxes, then the government should not supply all the
    welfare they expect.   A progressive income tax system needs to be introduced.    All those upper middle class whiners need to pay their
    share or bugger on off to NATO.

    Maybe not make it progressive taxation, as I am adamant about flat tax rate and has benefited Russia for quite some time. Instead, it needs to be broadened in the sense that there is harsher penalties to people avoiding taxation (I don't know why they are avoiding taxation when taxes are very low as it is), and bring more groups in to monitor business activity and to make sure that government is informed of the grey areas being used. I know one guy over at mp.net boasted how he used schemes in accounting to avoid paying certain taxes while he owns a business in Vladivostok.

    There will be a massive drop in investments in oil and that will hurt as well. But they can still profit and maintain off of current wells and they can make even more in the processing in oil - which is why Mexico is spending $25B on oil processing.

    Russia is benefiting on the lower Ruble to take the hit on the lower prices of oil and in turn, export of industrial products other than energy has increased.
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    Re: Russian Economy General News: #5

    Post  sepheronx on Sat Dec 12, 2015 6:17 pm

    Chairman of the Bank of Russia Elvira Nabiullina presented at the plenary session of the State Duma Guidelines for the Single State Monetary Policy for 2016 and between 2017 and 2018
    Elvira: "The volume of corporate foreign debt payments in 2016 will be approximately 2 times smaller than in 2015. On the whole, Russia's foreign debt in 2014 decreased dramatically, it decreased by almost 30%. At the beginning of 2014 all foreign debt amounted to 729 billion dollars. US, now is 522 billion dollars. US " wrote:

    I got this link and quote from a member over at sdelanounas.ru, which is also a good read:
    Overview of Russia's foreign trade in 2015
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Sat Dec 12, 2015 6:18 pm

    Hate Chubais all you want but:
    Revenue nanotechnology companies in Russia exceeded $ 1 trillion. rubles

    He stated this in his facebook account: Chubais - Facebook

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    Re: Russian Economy General News: #5

    Post  Austin on Sat Dec 12, 2015 6:24 pm

    Got this in an email from a friend who is an expert on Economics and follow the trends on Oil Price fall, Gold etc

    Oil fall IMO is due to demand destruction. Prices will rise but not now. Think- would you sell precious depleting resource for IOUs ie dollars? At some stage -and after having some buffer of dollars- sovereign nations will let oil price fall. And as demand is drying up in the west, brent and wti prices are down. The oil producers have given up on dollar. They dont trust it anymore. How soon until the people feel the same. The high yield bond market is going to go kaboom perhaps after rate hike - too many carry trades to unwind.

    Gold- what difference will it make if u buy today for 1000$ or tomorrow for 1100$ or in 12 months later for 10,000$? , Buy when there is spare cash buy it
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    Re: Russian Economy General News: #5

    Post  kvs on Sat Dec 12, 2015 11:02 pm

    Austin wrote:Got this in an email from a friend who is an expert on Economics and follow the trends on Oil Price fall,  Gold etc

    Oil fall IMO is due to demand destruction. Prices will rise but not now. Think- would you sell precious depleting resource for IOUs ie dollars? At some stage -and after having some buffer of dollars- sovereign nations will let oil price fall. And as demand is drying up in the west, brent and wti prices are down. The oil producers have given up on dollar. They dont trust it anymore. How soon until the people feel the same. The high yield bond market is going to go kaboom perhaps after rate hike - too many carry trades to unwind.

    Gold- what difference will it make if u buy today for 1000$ or tomorrow for 1100$ or in 12 months later for 10,000$? , Buy when there is spare cash buy it  

    Your friend understands the oil situation. Many people including highly placed government officials in Russia simply do not.
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    Re: Russian Economy General News: #5

    Post  Cyberspec on Sat Dec 12, 2015 11:46 pm

    kvs wrote:
    Austin wrote:Got this in an email from a friend who is an expert on Economics and follow the trends on Oil Price fall,  Gold etc

    Oil fall IMO is due to demand destruction. Prices will rise but not now. Think- would you sell precious depleting resource for IOUs ie dollars? At some stage -and after having some buffer of dollars- sovereign nations will let oil price fall. And as demand is drying up in the west, brent and wti prices are down. The oil producers have given up on dollar. They dont trust it anymore. How soon until the people feel the same. The high yield bond market is going to go kaboom perhaps after rate hike - too many carry trades to unwind.

    Gold- what difference will it make if u buy today for 1000$ or tomorrow for 1100$ or in 12 months later for 10,000$? , Buy when there is spare cash buy it  

    Your friend understands the oil situation.   Many people including highly placed government officials in Russia simply do not.

    Considering that Russia is one of the largest gold buyers lately, suggests that they know what's going on...

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    Re: Russian Economy General News: #5

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