http://news.bbc.co.uk/2/hi/europe/7862370.stm
I wonder if this is just a 1 time thing or just the beginning?
I wonder if this is just a 1 time thing or just the beginning?
Thousands protest across Russia
- Thread starter chad187
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Godwynn
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In March 2008 it took 24 Rubles to get 1 American dollar, now it is 36 Rubles. As you can see, as of late, it really spiked.
Foreign agitators that are being bankrolled by the West! They have conspired to bring down Great and Mighty Russia for centuries and they have all failed! Капиталистическая шлюхи!
Australian Dollar (AUD) against USD.
British Pound against USD.
There aren't massive protests in Australia, or Britain (as far as I know). There must be another reason.
British Pound against USD.
There aren't massive protests in Australia, or Britain (as far as I know). There must be another reason.
Godwynn
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A collapse in the price of oil, a worsening economic crisis in Russia, etc..
I can't find a graph, but natural gas probably has a part to play in this as well.
Godwynn
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Inflation isn't running at 14% in Australia or Britain either.
I don't pretend to know what Russians are thinking, but I think being a liberal democracy may play a part in no protests. (?)
Perhaps Russia ran a news article about protests in America after the Wall St. bailout when people gathered outside of the NYSE.
True, but wouldn't a lowering of the value of the ruble (inflation) mean that exchange rate graphs are distorted over time? i.e. 36 rubles now is easier to come across than 36 rubles six months ago.
Also, yes, liberal democracy, free speech, parliamentary democracy etc. probably are things stopping protests in aforementioned nations.
Godwynn
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Aha! Perhaps if unemployment weren't also rising at the same time! Also, wages are sticky.
I saw on the news about protests in the PRC (yes, the PRC!) because of slowing economic growth and closing factories.
Is this what stagflation is?
Godwynn
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I don't think the Russian economy is stagnating. I believe I read it is only expected to grow at 3% this year, which for an emerging economy, it might as well be stagflation.
Perhaps FDI has dried up, which wouldn't help the situation. I know that a major part of Russia's economic growth was due to the increase in FDI since the Russian Financial Crisis. It rose from about $US3.6 billion a year in the 90's to $US35 billion in 2006, but I don't know any current stats.
Godwynn
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I believe it has, I think the South Ossetia war was a bigger trigger for that. (just a hunch, no proof)
Going back to GDP growth, I think it was 8% last year, so a drop of 5% in growth in one year would have considerable effects. Reading the BBC article, however, it appears to be just a good old fashioned opposition rally to pressure the government.
These protests are actually demonstrations of support for Medvedev.
You never know. There could be some vast conspiracy to make the real leader- Putin- look like an idiot, giving Medvedev more control over Russia, and sending Putin to the depths of political death.
Reference to the ongoing three-person argument in the WH "USSR Like it or not?" thread.You never know. There could be some vast conspiracy to make the real leader- Putin- look like an idiot, giving Medvedev more control over Russia, and sending Putin to the depths of political death.
