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    Russian Economy General News: #11

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    calripson

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    Russian Economy General News: #11 - Page 5 Empty And Where Do Those Unspent Trillions Sit???

    Post  calripson on Wed Nov 20, 2019 7:18 pm

    Austin wrote:Siluanov explained the non-execution of budget expenditures by a trillion rubles

    https://ria.ru/20191120/1561151176.html

    The finance and central bank people in Russia are the greatest impediment to economic growth. They are also the reason why military projects are delayed, contractors don't get paid on time, and new technology comes out in dribs and drabs. All this while Russia runs a monthly fiscal surplus of over $2 billion.

    Now, on first blush, it looks like Siluanov is really doing his job as a noble civil servant, keeping a close eye on all those trillions. But here's the rub - all those trillions are collecting interest in somebody's bank (or the central bank) until they are dispersed. Not a bad way to make a profit. All risk free.
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    Post  Austin on Thu Nov 21, 2019 8:08 am

    Rosatom wants to become the world leader in shipping

    https://www.vedomosti.ru/business/articles/2019/11/20/816799-rosatom-liderom
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    Post  Austin on Thu Nov 21, 2019 8:13 am

    US’ attempts to undermine economic growth of Russia & China are just part of unfair competition – Putin

    https://www.rt.com/business/473883-us-undermines-china-russia-growth/

    China Wants Russia To Use More Yuan, Fewer Dollars

    https://www.forbes.com/sites/kenrapoza/2019/11/20/china-wants-russia-to-use-more-yuan-less-dollars/#585c37d93677
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    Post  par far on Thu Nov 21, 2019 10:55 pm



    kvs
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    Post  kvs on Fri Nov 22, 2019 1:07 am

    par far wrote:XFjdKjhMD6c


    So the number one source of Russia's economic "malaise", the insane CBR high interest rate policy, is just laughed off. Pathetic.
    Even with this insanity Russia is seeing a CPI of about 3%. The monetarist 5th column at the CBR has not excuse with pushing
    a prime rate over 7%. Recall that the prime rate is not the rate you see when you do banking. Consumers see borrowing costs
    around 10%. The prime rate should be no more than CPI + 1%. Ideally it should be equal to the CPI. So a 3% prime rate
    would result in the explosive growth of the Russian banking sector as Russian companies would not longer need to grovel from
    "cheap" foreign sources. "Cheap" means 4% or even higher.

    It can be rightfully argued that the stagnation in the disposable income of Russians is linked to the CBR lunacy. Directly by
    increasing essential borrowing costs (e.g. mortgages and car loans) and indirectly by increasing borrowing costs of businesses
    that result in higher prices. So the CPI is actually increased by the CBR lunacy.

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    calripson

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    Russian Economy General News: #11 - Page 5 Empty Yes!

    Post  calripson on Fri Nov 22, 2019 8:29 pm

    kvs wrote:
    par far wrote:XFjdKjhMD6c


    So the number one source of Russia's economic "malaise", the insane CBR high interest rate policy, is just laughed off.   Pathetic.
    Even with this insanity Russia is seeing a CPI of about 3%.    The monetarist 5th column at the CBR has not excuse with pushing
    a prime rate over 7%.   Recall that the prime rate is not the rate you see when you do banking.   Consumers see borrowing costs
    around 10%.   The prime rate should be no more than CPI + 1%.   Ideally it should be equal to the CPI.   So a 3% prime rate
    would result in the explosive growth of the Russian banking sector as Russian companies would not longer need to grovel from
    "cheap" foreign sources.   "Cheap" means 4% or even higher.

    It can be rightfully argued that the stagnation in the disposable income of Russians is linked to the CBR lunacy.   Directly by
    increasing essential borrowing costs (e.g. mortgages and car loans) and indirectly by increasing borrowing costs of businesses
    that result in higher prices.   So the CPI is actually increased by the CBR lunacy.

     

    Finally someone who gets it! There is a real class problem in Russia - namely the financial types who populate the CBR and Finance Ministry are either direct agents or are useful idiots who have drank the kool-aid. In any event, the CBR's insane monetary policy, the Finance Ministry's refusal to spend budgeted revenues (see my prior post), and the historical management of reserve funds that have produced such a pathetic return on capital that a monkey could literally have done a better job all point to a major problem. They are the reason disposable income is not increasing in Russia. They have to go, but Putin is not a money guy and he doesn't really get economics and finance. It is his achilles heel.
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    Russian Economy General News: #11 - Page 5 Empty Russia Under Spent By One Trillion

    Post  calripson on Sat Nov 23, 2019 4:05 am

    https://www.themoscowtimes.com/2019/11/11/russian-government-underspend-budget-trillion-rubles-2019-a68122


    Nice little racket picking up the float on a trillion rubles.
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    Post  Arrow on Sat Nov 23, 2019 9:19 am

    This great power Russia allows then Western agents to govern in their central bank. Smile
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    Post  Austin on Sat Nov 23, 2019 12:34 pm

    Underspent is not a bad thing if spending it unwisely leads to theft , Finance Ministry is very prudent with spending and they want to make sure every ruble counts which is spent on National Project.

    This money will be spent in 2020 if not this year.
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    Post  Austin on Sat Nov 23, 2019 12:45 pm

    Presidential Aide Named Three Prescriptions for Economic Growth

    https://iz.ru/945829/dmitrii-grinkevich/vverkh-mery-andrei-belousov-nazval-retcepty-rosta-ekonomiki

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    Post  par far on Sat Nov 23, 2019 8:29 pm

    kvs wrote:
    par far wrote:XFjdKjhMD6c


    So the number one source of Russia's economic "malaise", the insane CBR high interest rate policy, is just laughed off.   Pathetic.
    Even with this insanity Russia is seeing a CPI of about 3%.    The monetarist 5th column at the CBR has not excuse with pushing
    a prime rate over 7%.   Recall that the prime rate is not the rate you see when you do banking.   Consumers see borrowing costs
    around 10%.   The prime rate should be no more than CPI + 1%.   Ideally it should be equal to the CPI.   So a 3% prime rate
    would result in the explosive growth of the Russian banking sector as Russian companies would not longer need to grovel from
    "cheap" foreign sources.   "Cheap" means 4% or even higher.

    It can be rightfully argued that the stagnation in the disposable income of Russians is linked to the CBR lunacy.   Directly by
    increasing essential borrowing costs (e.g. mortgages and car loans) and indirectly by increasing borrowing costs of businesses
    that result in higher prices.   So the CPI is actually increased by the CBR lunacy.

     

    After doing more research on what you said KVS, you are right, there needs to better ways of doing thing in the CBR.

    But I think Russia is way better off than western countries. In the western countries, Muslims and Negros come in illegally and expect to get everything for free and not work for it and they get it.
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    Post  par far on Sat Nov 23, 2019 8:30 pm

    calripson wrote:
    kvs wrote:
    par far wrote:XFjdKjhMD6c


    So the number one source of Russia's economic "malaise", the insane CBR high interest rate policy, is just laughed off.   Pathetic.
    Even with this insanity Russia is seeing a CPI of about 3%.    The monetarist 5th column at the CBR has not excuse with pushing
    a prime rate over 7%.   Recall that the prime rate is not the rate you see when you do banking.   Consumers see borrowing costs
    around 10%.   The prime rate should be no more than CPI + 1%.   Ideally it should be equal to the CPI.   So a 3% prime rate
    would result in the explosive growth of the Russian banking sector as Russian companies would not longer need to grovel from
    "cheap" foreign sources.   "Cheap" means 4% or even higher.

    It can be rightfully argued that the stagnation in the disposable income of Russians is linked to the CBR lunacy.   Directly by
    increasing essential borrowing costs (e.g. mortgages and car loans) and indirectly by increasing borrowing costs of businesses
    that result in higher prices.   So the CPI is actually increased by the CBR lunacy.

     

    Finally someone who gets it! There is a real class problem in Russia - namely the financial types who populate the CBR and Finance Ministry are either direct agents or are useful idiots who have drank the kool-aid. In any event, the CBR's insane monetary policy, the Finance Ministry's refusal to spend budgeted revenues (see my prior post), and the historical management of reserve funds that have produced such a pathetic return on capital that a monkey could literally have done a better job all point to a major problem. They are the reason disposable income is not increasing in Russia. They have to go, but Putin is not a money guy and he doesn't really get economics and finance. It is his achilles heel.

    There is no doubt there are western bankers in Russia, a purge needs to happen.
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    Post  GarryB on Sun Nov 24, 2019 3:20 am

    In the western countries, Muslims and Negros come in illegally and expect to get everything for free and not work for it and they get it.

    Muslims and Negros... this is a western world and going by western rules and moral and values of course black people and non christian people are by definition poor, but it sounds less racist to say poor people come in to western countries because not all are negros and not all of them are muslims... but they are all poor... and wanting to share in the good life the west has been enjoying all these centuries while denying the same for the rest of the world through their policies and violence.
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    Post  par far on Sun Nov 24, 2019 5:56 am

    GarryB wrote:
    In the western countries, Muslims and Negros come in illegally and expect to get everything for free and not work for it and they get it.

    Muslims and Negros... this is a western world and going by western rules and moral and values of course black people and non christian people are by definition poor, but it sounds less racist to say poor people come in to western countries because not all are negros and not all of them are muslims... but they are all poor... and wanting to share in the good life the west has been enjoying all these centuries while denying the same for the rest of the world through their policies and violence.


    The Muslims and Negros should work for the good life that the West provides and they should also respect the culture of the country they are getting the good life from.

    They come to the west get the good life for free and what do they do? They rape and cause chaos.
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    Post  kvs on Sun Nov 24, 2019 6:07 am

    We have a sampling problem. The criminals who run to the west for the good life are the sort of trash that doesn't care to contribute
    to their own societies and countries. These opportunists are not representative. They are in a general way related to the Russian
    liberasts who do not constructively work to better Russia but instead work as 5th column disruptors to bring their precious west into
    Russia. I think that most of them would leave for the west, but the PC-rotted west discriminates against white immigrants. It is
    much easier for cut-throats and such from the middle east to migrate to the NATO west than it is for Russians.

    BTW, the notion that migration to the west from the 3rd world is a refugee flow is BS. By far most are economic migrants. This
    actually includes the recent surge of Syrian "refugees". They had the choice to return to Syria but ran off the west instead.
    The Syrian government has secured most of the country in terms of population points.

    Imagine of at the end of WWII, Soviet citizens decided to run off to the west because conditions were to harsh in the USSR.
    That's what these economic "refugees" are doing.



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    Post  miketheterrible on Sun Nov 24, 2019 7:48 pm

    A new bridge is being built - or at least it was given the thumbs up from Putin. Bridge crossing the Lena River in Yakutsk region. Plan is for it to be completed in 2025.

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    Post  GarryB on Mon Nov 25, 2019 12:26 am

    The Muslims and Negros should work for the good life that the West provides

    Why should they?

    The west ignores their plight in their own countries, in fact they tend to keep their countries in a constant state of poverty and conflict... it is actually rather christian of them to let the west reap what it has sown... or more accurately big multinational corporations have sown.

    and they should also respect the culture of the country they are getting the good life from.

    Again... why... generally their own countries are in terrible states because of the action of those very same western countries and their western based world economy that has helped the rich get richer and the poor get poorer...

    They come to the west get the good life for free

    Compared with life in the countries these people come from even poverty in the west is luxury... poor people in the west still own cars and TVs and lots of stuff the poor in the rest of the world could only dream of owning... and being given a house just because you are an immigrant is the icing on the cake.

    They rape and cause chaos.

    When they pay you to do nothing you have a lot of free time... besides... all these women walking around and their male relatives don't think enough of them to protect them by walking around with them... they are just asking for it aren't they?

    We have a sampling problem. The criminals who run to the west for the good life are the sort of trash that doesn't care to contribute
    to their own societies and countries. These opportunists are not representative.

    Well actually yes and no... traditionally the only refugees that used to get through were the richer people from the poor countries who spent money bribing and paying human trafficers to get to the west, so actually represented a brain drain from many countries... people who didn't want to live in a poor country even though they were comfortable... they wanted nice roads and nice shops to shop in etc.

    But the recent migrants to Europe have been because of wars started by Europe and therefore include a wide range of people... both rich and poor... and now that the terrorists are losing despite all that help from Europe, the terrorists are now fleeing certain death in Syria by heading to the west... they can't save Syria from democracy, so now they can spread their message of hate and bigotry in Europe... perhaps the enemy of my enemy is not actually my friend after all... they are just someone I want to use for my own purpose and then hope they just disappear when they are of no use any more.

    They are in a general way related to the Russian
    liberasts who do not constructively work to better Russia but instead work as 5th column disruptors to bring their precious west into
    Russia. I think that most of them would leave for the west, but the PC-rotted west discriminates against white immigrants.

    Would be amusing for these lovers of the west to try living in the west for a while and see how they are treated before they start trying to change Russia to be more like the west. I am sure Maria Butina is not singing the praises of the US culture any more when she gets to talk anywhere...

    Western values are nice but are only for westerners... second and third world countries need to know their place (below the first world) and be happy to stay there without trying to change position... or Nikky Haley will give you a slap...

    It is
    much easier for cut-throats and such from the middle east to migrate to the NATO west than it is for Russians.

    If you bring the billions you steal you are welcomed in the UK with open arms... no questions asked.

    BTW, the notion that migration to the west from the 3rd world is a refugee flow is BS. By far most are economic migrants. This
    actually includes the recent surge of Syrian "refugees". They had the choice to return to Syria but ran off the west instead.
    The Syrian government has secured most of the country in terms of population points.

    I don't agree... the west helped break their countries and even though ISIS has been pushed back in Syria from all directions Syria is a very seriously damaged country that is going to need a lot of rebuilding.... they didn't break it, and Europe is unlikely to spend a cent to help even after spending small fortunes breaking the place in the hope of removing Assad from power... personally I think the problems of migration in Europe are their just rewards.

    Besides most immigrants from Syria have been stopped in Turkey... most of the illegal immigration from Africa is actually coming through Libya... a country the US, the UK and France are directly responsible for breaking... so again... tough shit... show us how civilised and moral you are by taking on these people and helping them like the good christians you aren't.

    A new bridge is being built - or at least it was given the thumbs up from Putin.

    Good news, though I hope they include a rail component to the bridge too. It would be cheaper to include a rail bridge at the same time as the road bridge even if there is no where for the rail line to go yet... by 2025 they will be increasing the rail lines heading south from the ports in the far north to join with the trans siberian rail line to the south so being able to cross the river would be useful anyway.
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    Post  Austin on Tue Nov 26, 2019 11:54 am

    Russia makes its oil reserves work harder as output declines

    https://www.ft.com/content/6225ff10-ee9d-11e9-a55a-30afa498db1b

    With new spare capacity, Russia joins ranks of oil's swing producers

    https://www.reuters.com/article/us-russia-oil-novak-output/with-new-spare-capacity-russia-joins-ranks-of-oils-swing-producers-idUSKBN1WM19C
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    Post  Austin on Tue Nov 26, 2019 2:05 pm

    Interview with Central Bank Chief ( in German language )

    https://www.handelsblatt.com/finanzen/geldpolitik/elvira-nabiullina-im-interview-russlands-zentralbankchefin-wir-raten-von-euro-und-dollar-ab/25266242.html
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    Post  Hole on Tue Nov 26, 2019 3:56 pm

    Weird, Russia got spare capacitiy but it´s oil output declines… 🤦‍♂️
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    Post  flamming_python on Tue Nov 26, 2019 11:39 pm

    Hole wrote:🤦‍♂️

    Gender confusion? What a Face
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    Post  miketheterrible on Tue Nov 26, 2019 11:49 pm

    Hole wrote:Weird, Russia got spare capacitiy but it´s oil output declines… 🤦‍♂️

    Hopefully Austin caught that contradiction when posting it.
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    Post  George1 on Wed Nov 27, 2019 2:26 pm

    Daimler Truck acquires 15% in Russia's Kamaz

    https://tass.com/economy/1092325


    Tatarstan's president takes part in launching new Kamaz assembly line in Samarkand

    https://tass.com/economy/1093137
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    Post  par far on Fri Nov 29, 2019 12:43 am

    GarryB wrote:
    The Muslims and Negros should work for the good life that the West provides

    Why should they?

    The west ignores their plight in their own countries, in fact they tend to keep their countries in a constant state of poverty and conflict... it is actually rather christian of them to let the west reap what it has sown... or more accurately big multinational corporations have sown.


    The Negros and the Muslims have a very good opportunity to turn around there lives when they are in the west but you cannot educate animals.









    and they should also respect the culture of the country they are getting the good life from.

    Again... why... generally their own countries are in terrible states because of the action of those very same western countries and their western based world economy that has helped the rich get richer and the poor get poorer...


    They have come from a poor society to a society where they are given everything for free, the least they can do is to respect the culture of the society that is providing them all this for free. The culture in their country is rape, kill and devastation, why bring it over?









    They come to the west get the good life for free

    Compared with life in the countries these people come from even poverty in the west is luxury... poor people in the west still own cars and TVs and lots of stuff the poor in the rest of the world could only dream of owning... and being given a house just because you are an immigrant is the icing on the cake.




    They don't work for all the good western countries give and in return they destroy the country that gives them all this.








    They rape and cause chaos.

    When they pay you to do nothing you have a lot of free time... besides... all these women walking around and their male relatives don't think enough of them to protect them by walking around with them... they are just asking for it aren't they?


    In western culture women are treated as human beings and in their culture they are just seen as property that can raped. In western countries they have values(which the Negros and the Muslims) don't have).

    You live in a country don't you? You think every time your wife/sister/daughter goes out of the house, you should go with her? This is the mentality of the Negros and the Muslims and that is why they don't advance.







    We have a sampling problem. The criminals who run to the west for the good life are the sort of trash that doesn't care to contribute
    to their own societies and countries. These opportunists are not representative.

    Well actually yes and no... traditionally the only refugees that used to get through were the richer people from the poor countries who spent money bribing and paying human trafficers to get to the west, so actually represented a brain drain from many countries... people who didn't want to live in a poor country even though they were comfortable... they wanted nice roads and nice shops to shop in etc.

    But the recent migrants to Europe have been because of wars started by Europe and therefore include a wide range of people... both rich and poor... and now that the terrorists are losing despite all that help from Europe, the terrorists are now fleeing certain death in Syria by heading to the west... they can't save Syria from democracy, so now they can spread their message of hate and bigotry in Europe... perhaps the enemy of my enemy is not actually my friend after all... they are just someone I want to use for my own purpose and then hope they just disappear when they are of no use any more.



    They are in a general way related to the Russian
    liberasts who do not constructively work to better Russia but instead work as 5th column disruptors to bring their precious west into
    Russia. I think that most of them would leave for the west, but the PC-rotted west discriminates against white immigrants.

    Would be amusing for these lovers of the west to try living in the west for a while and see how they are treated before they start trying to change Russia to be more like the west. I am sure Maria Butina is not singing the praises of the US culture any more when she gets to talk anywhere...

    Western values are nice but are only for westerners... second and third world countries need to know their place (below the first world) and be happy to stay there without trying to change position... or Nikky Haley will give you a slap...


    It is
    much easier for cut-throats and such from the middle east to migrate to the NATO west than it is for Russians.

    If you bring the billions you steal you are welcomed in the UK with open arms... no questions asked.

    BTW, the notion that migration to the west from the 3rd world is a refugee flow is BS. By far most are economic migrants. This
    actually includes the recent surge of Syrian "refugees". They had the choice to return to Syria but ran off the west instead.
    The Syrian government has secured most of the country in terms of population points.

    I don't agree... the west helped break their countries and even though ISIS has been pushed back in Syria from all directions Syria is a very seriously damaged country that is going to need a lot of rebuilding.... they didn't break it, and Europe is unlikely to spend a cent to help even after spending small fortunes breaking the place in the hope of removing Assad from power... personally I think the problems of migration in Europe are their just rewards.

    Besides most immigrants from Syria have been stopped in Turkey... most of the illegal immigration from Africa is actually coming through Libya... a country the US, the UK and France are directly responsible for breaking... so again... tough shit... show us how civilised and moral you are by taking on these people and helping them like the good christians you aren't.

    A new bridge is being built - or at least it was given the thumbs up from Putin.

    Good news, though I hope they include a rail component to the bridge too. It would be cheaper to include a rail bridge at the same time as the road bridge even if there is no where for the rail line to go yet... by 2025 they will be increasing the rail lines heading south from the ports in the far north to join with the trans siberian rail line to the south so being able to cross the river would be useful anyway.
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    Post  kvs on Fri Nov 29, 2019 2:23 am

    Even though this is OT. I think it is unfair to brand all migrants as demented animals. If you look at the US statistics, African
    blacks in the USA do much better than the "indigenous" (ancestral slave) blacks. And I mean much, much better. They are not
    running around spraying bullets and raping. And if we are going to appeal to race, the US blacks are actually mixtures with whites
    and not pure African blacks. So maybe it is their "white" genes that are giving them issues....



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