The coming Russian debt crisis will rival the Russian financial crisis of 1998. The critical point is that Russia and the Russians must turn to the credit markets if they can not meet their current cash flow needs. If the credit markets reject Russian borrowers because of bad credit ratings (three Cs of credit), Russia and the Russians will be out of cash. To me, this is a debt crisis that will exacerbate the coming Russian Financial crisis. If you can not raise or pay/service current debt, that is a debt crisis. Although in the West there is higher Debt to GDP ratios, that is not as relevant currently as Western nations can raise new debt and meet their financial obligations.
Simply put, a crisis is when you can not pay your bills. This is based on the economic idea of scarcity, infinite wants, and limited resources. We all must make trade, and Russia will have to make a choice. The myth is Russians have limitless resources. They do not. They have a failing one-commodity mechanist business model. The choice is to reform and rejoin the international community of democracies and respect human rights or face a debt and financial crisis of historical proportions.
COMING Russian Debt Crisis
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1,00 USD=113,15 RUB today 28.11.2024 morning.
Hey Mark I'm ready
Russia is the country that never produced anything other than human unhappiness and sufferings!
Just because Ruzzia's debt is "off books" doesn't mean it doesn't exist.
Thank you for another great review and analysis, Sir! ????????
BTW, the Ruble today (28 NOV 2024) is at 0.0088USD.
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Have you ever considered braids? I dig the long hair. Mine took a hike. I think you would look good in braids. Maybe kinda Native American style? Love your work Doc.
can't wait to hear what this dude thinks of the russian central bank suspending trading of the ruble
This guy really gives us an outstanding analysis one the best I've seen although he is a bit difficult to look at, just saying……
Okay, 114 to the USD today, so I think we're almost there 🙂 Think you need to update again tomorrow!
Moscow and St. Petersburg are mafia land….elsewhere very poor…only mafia members have abundance of money and power…
Love your videos! And that Flintstones skateboard is really cool!!
According to Konstantin's blog the head of the RussianCentral bank is in trouble for raising interest rates to over 20% in order to satisfy Putin's order to keep inflation low. Economy dries up as a result
Gold standard ?? Russian banks will give you bogus gold for money ; they can't be trusted !
The Ruble has ceased trading until 2025 what are the implications of this?
Great video, have subbed.