Arrayed against this view are a number of professional Soviet-watchers who have now been unexpectedly joined by the CIA which asserts that the USSR, “far from being on the verge of economic collapse, has experienced major growth. In fact,” says the agency, “we do not consider an economic ’collapse’–a sudden and sustained decline in GNP (gross national product)–even a remote possibility.”
https://www.marxists.org/history/erol/ncm-7/fl-soviet.htm
Compared to the US and Canada ( lol the INSANE debts!!!!!) they are actually, in real terms, doing very well.
Please note: OUR stock market is in collapse, and has been since May), the russians stock market is not. Only a fool would think otherwise judging by the facts and at these deathknell interest rates.
Russia's Stock Market Keeps Breaking Records
Apr 23, 2019, 11:23am
The Moscow Stock Exchange continues to break records despite sanctions on its most important companies, including banking giant Sberbank and the world’s largest natural gas exporter, Gazprom. But despite pretty lousy sentiment on all things Russia-related, the Moscow Russia Index is up over 100% in rubles in the last five years. It’s now at a record high.
“It’s actually amazing how well Russia has done given sanctions and sentiment,” says Chris Gaffney, president of world markets at TIAA Bank. “It makes you wonder what would happen if Russia had sanctions reprieve. I think the market would grow like a monster. And if you consider Trump possibly starting a trade war with Europe, then Europe may be the first to lift its sanctions on Russia in retaliation,” Gaffney says, thinking out loud on the possibilities for Russian securities should investor sentiment improve.
The MOEX Russia reached a new historical maximum on Tuesday during intraday trading , hitting 2,599.58 points before selling off slightly when the market closed. The previous intraday record was set on April 10 when the MOEX reached 2591.69 points.
https://www.forbes.com/sites/kenrap...k-market-keeps-breaking-records/#59bff454232b
..and that's with US/british/israeli sanctions and oil wars and everything else going on too.
Oh Walter, Do you know what this means?
....Russia’s central bank also deserves some credit. It’s kept inflation and interest rates under control. Also worth noting, the ruling United Russia party passed unpopular pension reform, helping clean up some Russian debt at a time when it remains unclear if Russia will ever be able to take on lower cost loans in dollars and euros. Russian interest rates are
7.75% and expected to remain unchanged at the next monetary policy meeting on April 26....
The Bank of Russia cuts the key rate by 25 bp to 7.50% per annum
On 14 June 2019,
https://www.cbr.ru/eng/press/keypr/
2019-06-19 06:00 PM Fed Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
https://www.bankofcanada.ca/rates/interest-rates/us-rates-lookup/
It means you have something completely BACKWARDS.
