end of 2011. - Beginning of the second wave of the crisis - page 24
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It DOES NOT MATTER who will be appointed to replace Kiriyenko '98. IMPORTANT is that it CANNOT BE DONE! (sooner or later, but definitely in our lifetime)!!! :)
The young reformers of the 90's, themselves under illusions and not understanding the predatory nature of the global financial sharks, convinced the Yeltsin clan to borrow from the IMF.
But very soon they proved unable to pay back what they had borrowed with interest and, by defaulting on the country, forced every Russian to pay for their (reformers') incompetence.
But the crisis has scared them a little, and they have been actively deleveraging. The situation is much better now than in 2008. Gazprom, for example, now has less than 30 yards of debt, while in 2008 they had about 37. Rosneft has reduced it even further.
If gas prices go down to $1.5 per cu. cu., Gazprom's capitalization will also go down, to put it mildly...
Debts with interest should be paid back, and if there is no income, then the reserves that Kudrin has saved will have to be unlocked.
And as for Rosneft, when oil prices go down, the shares of all oil companies, including Rosneft, will also go down,
and there is a lot to fall...))
What will happen after the 2nd wave of the crisis? A correction or a complete reversal upwards?
Same as after the first one - a crazy upwards rally! at least until 2015. :о)
sorry, is that a price chart of what? I couldn't see the name.
The young reformers of the 90s, themselves under illusions and not understanding the predatory nature of the global financial sharks, convinced the Yeltsin clan to borrow from the IMF.
But very soon they were unable to pay back what they had borrowed with interest and, by defaulting in the country, forced every Russian to pay for their (reformers') incompetence.
As it happens, Kudrin has learned his lesson from history. I mean a safety cushion in the form of the Stabilization Fund.
p.s. All problem countries in the eurozone are on the hook for the IMF, they are being forced to privatize and take unpopular measures
The strongest swallow up the weak by redistributing their property... although this has always been the case.
The young reformers of the 1990s, themselves under illusions and not understanding the predatory nature of the global financial sharks, convinced the Yeltsin clan to borrow from the IMF.
But they soon found themselves unable to pay back what they had borrowed with interest and, by defaulting in the country, forced every Russian to pay for their (the reformers') incompetence.
The same Kiriyenko is safely running Rosatom - he's got contracts to build nuclear power plants all over the world (even in Soviet times, given the human resources of the whole Union, there were NOT so many specialists capable of building nuclear power plants) - and he "doesn't give a damn"...
They all understood, some of them, after a short period of time, were beating their chests, presenting the "action" as "good".
You remember, three days before the default, Yeltsin, blindly or, rather, through hindsight, trusted the young people, on TV and the whole country gave his hand, assuring them that nothing terrible would happen.
And the young had no choice but to present what had happened as the Great Good for an impoverished/enfranchised people...