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> now economic collapse Don't take what a TV box tells you this literally. The currency exchange rate going up is not an economic collapse. I lived through Per
by eps 12y ago
> now economic collapse
Don't take what a TV box tells you this literally. The currency exchange rate going up is not an economic collapse. I lived through Perestroika years - that was nasty, but current situation is even less of a "collapse" as what the US economy had during the mortgage crisis.
- raquo 12y agoEffectively, every Russian's salary just depreciated 50% to a significant portion of the goods they buy. Local businesses might come out on top of this due to their goods being more competitive vs imports, but the population is screwed again. Rich guys become richer, poor guys become poorer. But that's just the exchange rate. Credit rates hiked up significantly and foreign investment into Russia dwindled. Big projects are put on hold due to uncertainty. My outlook is negative.