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Economists have reacted to the turmoil in Russia and Ukraine in recent weeks by slashing their forecasts for economic growth in Russia.
We don't have data for Q1 2014 yet, but given the recent market turmoil, the outflow is probably going to be substantial.
On Thursday, credit rating agency Standard & Poor's revised its outlook on Russia's current BBB sovereign rating to negative from stable.
"In our view, the deteriorating geopolitical situation has already had a negative impact on Russia's economy," said S&P analysts.
It's clear that the Russian incursion into Ukraine has already come at a significant cost. If the conflict escalates and financial sanctions take a more serious, damaging form, market volatility is likely to worsen, and forecasts could be revised even lower.
reply to post by markosity1973
Capitalism isn't the problem. In the truest sense, Communism wasn't their problem, either. The problem is one the Soviet Union and the United States shared then and for just these brief moments in history, unfortunately (for my side) we don't share as much right now. That's pure, simple corruption.
Corruption within the Communist System is what destroyed Russia and flattened them with debt they could no longer sustain, for one of the largest single factors in their final collapse. Corruption within our system has now brought us almost full circle to face the same situation, with the reverse outcome. The systems couldn't possibly be more different when not trying to meddle with each other's way of life ...but we'll have both fallen in the span of 30 years for precisely the same internal rot.
Putin isn't a man beyond corruption, but nationalism and Russian Pride square in at the same or near same level. You can see it in his actions and his eyes, for that matter. He's a Believer...and we have a pretender. The worst time.
....but I can't say Economic or Political ideology ultimately changed how things wound up, for either side.
reply to post by liejunkie01
That link doesn't work for me, but regardless this is a very poor attempt to slander Russia.
WHO HAS UN-PAYABLE DEBT
US and EU or Russian Federation
Who has MORE Enormous untapped resources .....US and EU......or Russian Federation
Who has growth in standard of living for the past 10 years. US and EU..........or Russian Federation
WHO APPROVES OF THEIR GOVERNMENT 65 % BECAUSE THEIR LIVES ARE BETTER.
Population of US and EU ?? Or people of Russian Federation.
WHO IS ABOUT TO COLLAPSE ECONOMICALLY, JUST A MATTER OF TIME
US and EU, or Russian Federation.edit on 23-3-2014 by ZincMag because: (no reason given)
Russia is pretty self sufficient what being the largest country on the planet with some of the largest natural resources known to man. Lets see, largest known reserves of oil, second largest known coal reserves, largest known diamond reserves, thats right, diamonds, apparently, diamonds are worth a lot of money?!?!. And there timber reserves?, LOL Russia has a forest larger than the United States.
I have a feeling Russia is going to do ok lol.
Oh and there main importer is China, haha.