The Rouble Bites the Dust
December 22, 2014
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The value of the Russian Ruble dropped by half last week. Russian debt is now junk.
Please note this is the same economic model of spend-and-debt favored by United States President Barack Obama. This decline in Russian buying power is probably why Obama reached out to Cuba.. to keep brother Castro’s grand communist experiment afloat. I can hear New York Mayor Bill DeBlasio crying all the way out here.
The excuses and rationalizations about this renewed failure of communist kleptocracy will be fascinating to hear. Will President Obama offer Putin a mutually assured destruction package of foreign loans?
~_~_
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Rob
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SlowFacts 
the fall in oil prices are biting Russia in the ass… this is their biggest problem currently and it will most likely get worse and worse for them as the glut of oil on the market is growing and the prices are falling.
I am pretty sure Russia cut Cuba loose financially back in 1991 when the Soviet bloc collapsed along with the Soviet economy. The USA/Cuba reunion could be a very good move in a lot of ways, it is already going on behind the scenes, the ports of Cuba are chock full with the yachts of the rich and powerful. I am given pause to wonder about Cuban banking policies, especially since the gooberment of the US has put the screws to the Swiss and other banking havens…
Based on your last comment, I am unsure if you think Russia is still a communist nation or not… to be quite honest, I doubt if it ever really was… mostly, it appears to have been communist in name only, at least, per my understanding of Russian political machinations and what communism actually is supposed to be.
It would appear that we are living out that ancient Chinese curse, “may you live in interesting times”
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