Sunday, March 29, 2015

The Ruble is Bouncing Back

An AFP report tries to guess what is behind it:
[A]n unexpected recent rebound by the ruble has partially reversed months of pain for the nosediving national currency and fired hope among harried officials in Moscow that there might be a light at the end of the tunnel. 
Few analysts were betting on a bounce after the ruble lost over 40 percent of its value in 2014 and carried on the slump into this year. 
But a drop in fighting in east Ukraine and the steadying of oil prices seems to have combined with the tax payment season and a Kremlin drive to get money repatriated to fire an unlikely recovery. 
Guys, it was mostly Elvira.


1 comment:

  1. It is a sad day when a Russian economist can turn around the currency of her nation so quickly, while the bifurcated head of the Federal Reserve works with the Pentagon, CIA, and NSA to destroy other nations and their currencies thus propping up America's usurious currency as a frumpy prom queen who senses the end is near. The Federal Reserve ignores the velocity of money, the real inflation rate in grocery stores, the increase in the percentage of income going to rental payments, the debt levels of millennials, and focuses solely on the bad debts that were incurred by US and European banks during the period of 2002 to 2008.

    I figured out 30 months ago that the U.S. economy would come unglued before boomers completely retired because of 400 demographic and economic measurements that were already baked in the cake. The demographics have only gotten worse over the past 30 months and it is completely unsustainable no matter how much primer, foundation, and powder the Federal Reserve puts on its pathetic self-portrait.

    The best description I can give to what is going on is a psychotic game of musical chairs. The American version of the game has 340 million individual players, and only 10 million chairs. Eight million individuals are already seated in their chairs and are buckled in come what may. When the music stops 332 million Americans will be fighting over 2 million chairs that are in play. Think of that old Jane Fonda movie called "They Shoot Horses Don't They" and you will have a glimmer of what is soon going to go down.