Russia's gross domestic product contracted 8.9% in the third quarter from a year ago according to official Russian data released yesterday. In the second quarter, the economy declined 10.9% from a year ago.
This hasn't, however, slowed the Russian stock market. Yesterday, the RTS stock index gained 1.6% in Moscow. It has surged 117% so far this year
Maybe they'll invade Georgia again to boost military expenditures and revive aggregate demand. Why should military Keynesianism be an American fetish?
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