mai said:
Russia's stock exchange is relatively small compared to the size of the economy, the fall was due to ruble purely speculative devaluation (that'd be the correct term btw). One serious fundamental problem though is lack of dollar liquidity throughout the whole year (on top of the same core problems within current global economy, of course), with practical result of it being getting rid of the dollar in trade. |
Indeed the russian stock exchange is small, but it's still fallen to the lowest it has been since after the crisis in 2008, as it has fallen 42.5% YTD.
It may be primarily due to speculation, but Russia still has the highest inflation figure according to CPI of any country I know of, with a whopping annualized 9%.
| mai said: Uh-huh, you're being defensive in the way "b-but, eveyone else is even worse (or the same)", while the purpose of the thread is to discuss the problems of global economy. The core problems lie within the main beneficiaries of it of course, aka the US and EU. That's why I didn't start it with, say, aritcle on the state of Chinese economy. For example, Chinese housing bubble being bigger. It's bigger only if you don't count a stockpile of derivates that surrounds similar bubble in the US. |
How am I being defensive? Why would I be defensive? What do I have to defend? I suggest you read your own OP. It doesn't make it seem like the thread's purpose is to discuss the global economy when the OP only ever mentions the US, however I pointed out that the problems here are not unique to the US.
If anyone are being defensive here, it's you.
