Tuesday, August 25, 2015

Rouble Slides South: Moscovites in Panic Mode

        A lower price for a barrel of oil has had a signature effect on worldwide currencies.  The currencies of producers/sellers dipped, especially as analysts noted that this is a trend that will not change direction for some time.  China's economy is not quite in freefall, the the government in Beijing has been unable to halt the decline in exports and domestic consumption.
       The poor Russyan in the streets of Vladivostok, St. Petersburg, Murmansk, Rostov-on-Don have all been battered as consumer prices continue to rise, in many cases, doubling in price for staples.
      Mad Vlad and his Kremlin Kronies have gone to ground, keeping a low profile hoping that winter will begin early.   With luck, winter will be severe and citizens will be concerned about heating their hovels as opposed to eating anything.
     Saudi Arabia will keep pumping at a record pace, and other Gulf producers will keep pace as best they can.  Makes for a nice scenario in the USA as oil and gas producers there continue with their discoveries of more sources, new and old.
     The rouble lost 2.6% of its value yesterday, FYI.

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