RTSi already down 8%
If my assumption is right and pseudopatriotic Russian investors ("гадьё") going to start drawing parallels with the August of 2008 we going to see RTSi down another 10-15% this week.
Monday, August 8, 2011
Three years ago
Three years ago, on 8 August 2008, the war with Georgia and the slump of Russian stocks, currency and have begun. Overnight borrowing rate in roubles (MOSPRIME) almost doubled on Monday, 11 August 2008.
That was the beginning of the economy crisis in Russia.
A year of uncertainty followed.
What it's going to be like this time?
That was the beginning of the economy crisis in Russia.
A year of uncertainty followed.
What it's going to be like this time?
Thursday, August 4, 2011
New major wave of crisis for Russia?
Dow just closed -512, "worst slump since 2009" according to Bloomberg.
The sheer amount of imbalances is astounding:
-The USA just averted a technical default. No meaningful spending cuts were introduced. Real estate & jobs gained zilch since 2009.
-Euro currency (and economy in general) is still weak - Greece/Portugal/Ireland/etc. Second Greek bailout going to cost like EUR 110B.
-Oil climbed back to $100 (down 5% today).
The election period in Russia has just started.
I've got a really really bad feeling about this.
Going to buy some $$$ tomorrow.
The sheer amount of imbalances is astounding:
-The USA just averted a technical default. No meaningful spending cuts were introduced. Real estate & jobs gained zilch since 2009.
-Euro currency (and economy in general) is still weak - Greece/Portugal/Ireland/etc. Second Greek bailout going to cost like EUR 110B.
-Oil climbed back to $100 (down 5% today).
The election period in Russia has just started.
I've got a really really bad feeling about this.
Going to buy some $$$ tomorrow.
Subscribe to:
Posts (Atom)