Russia may need help if oil falls more

Russia may need help if oil falls more (Full Version)

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Sanity -> Russia may need help if oil falls more (12/19/2008 5:34:14 PM)
What's good for some (low oil prices) could literally be the ruin for some others: quote: World Bank: Russia may need help if oil falls more MOSCOW (AP) - Russia would come under crippling financial pressure and may need to raise money externally if oil languishes at an average of $30 a barrel over the next two years, the World Bank predicted Friday. The bleak scenario would mark a rapid unraveling of Russia's oil-fueled economic gains over the past eight years, during which time the government has paid down most of its foreign debt and built up a vast stockpile of international reserves. "If oil prices in 2009 and 2010 average $30 a barrel, that would be a nightmare scenario for a global economy," Zeljko Bogetic, the World Bank's chief economist in Russia told investors on Friday. "The pressures on the current account and public finances in Russia would quickly rise to a point where the financing constraint would become so sharp that it's possible even to envisage Russia's return from a creditor to international organisations to (that of) a borrower." Full story here

Raechard -> RE: Russia may need help if oil falls more (12/19/2008 5:54:24 PM)
“Diversify or die”. That is advice anyone should pay heed to.

Sanity -> RE: Russia may need help if oil falls more (12/19/2008 7:03:48 PM)
If it's going to hurt Russia this much, perhaps I should get behind you and push. Ahem. Coal, nuclear, wind, solar, offshore drilling, biofuels, lead and cadmium batteries, and mercury-filled lamps are our friends! [sm=alien.gif]

DarkSteven -> RE: Russia may need help if oil falls more (12/19/2008 7:25:35 PM)
What the hell. Let's bail THEM out too...

Sanity -> RE: Russia may need help if oil falls more (12/19/2008 7:41:24 PM)
Oh damn, don't even think that, not even jokingly... [sm=anger.gif] quote: ORIGINAL: DarkSteven What the hell. Let's bail THEM out too...

Lordandmaster -> RE: Russia may need help if oil falls more (12/19/2008 9:15:27 PM)
Maybe it's not very humanitarian of me, but I say GOOD. They started acting like fucking jerkoffs during the recent oil spike. Nothing like a little global depression to remind them that their No. 1 export used to be pussy. Putin's nickname in the surrounding ministates is "Lilli-Putin" (cuz he's so short and acts like such an arrogant prick).

blacksword404 -> RE: Russia may need help if oil falls more (12/19/2008 9:38:16 PM)
quote: ORIGINAL: DarkSteven What the hell. Let's bail THEM out too... Why you little...

mefisto69 -> RE: Russia may need help if oil falls more (12/20/2008 3:31:24 AM)
we're just so brain damaged we can't remember history and we'll keep repeating it. it was the U.S. that sent millions of metric tons of food and millions of dollars every year during the (pfffft) cold war specificlly to keep the whole carnival rolling. they need to figure out how to get energy out of their frozen waste lands....... or in other words > fuck 'em

LadyEllen -> RE: Russia may need help if oil falls more (12/20/2008 3:43:45 AM)
Sorry Russia. This is called a market economy - and yes, a lucky few of you realised how wealthy it could make you and you did well for a time, but things have a habit of fluctuating; perhaps you should regard this as lesson no.2? Lesson no.3 proceeds from it - always have more than one move - something we in the UK forgot in the 80s when we first started relying on finance to support the country, propped up by North Sea oil. You have millions of unemployed citizens who will work for next to nothing - and youre in the enviable position of being able to forcibly compel them to do so. Theyre not stupid either - a Russian education is still pretty good. And you have resources the rest of the world can only dream of in terms of mineral deposits - and the oil by which to power factories and power plants to your hearts' content. And you have tonnes of foreign money in your coffers. And youre right next door to Europe, which for all of its problems is still a wealthy place which is now seeking to avoid the long supply chain from China, the poor quality and other problems associated with importing from that country. And you also have experience of what can happen when your people get pissed off. There is already a huge rise in naziism over there that you might want to note now. If I can see your way out of the problems you might have from a low oil price, and I'm just some oik from the backwaters of England - how come you cant? E

Sanity -> RE: Russia may need help if oil falls more (12/20/2008 5:33:20 AM)
I couldn't agree with you more. Here they are today sending warships half way round the world, bringing promises of missiles and nuclear technology to our neighbors for Christmas, and attacking and threatening their own neighbors - when tomorrow they may well be standing in our doorway, hats in hand, begging for a handout. Putin is nowadays the perfect face for Russia, as he is a greedy power-hungry prick who is badly in need of his comeuppance. There won't be many tears shed for Russia if oil stays at thirty!

Sanity -> RE: Russia may need help if oil falls more (12/20/2008 5:38:22 AM)
England has backwaters? quote: If I can see your way out of the problems you might have from a low oil price, and I'm just some oik from the backwaters of England - how come you cant?

LadyEllen -> RE: Russia may need help if oil falls more (12/20/2008 5:43:14 AM)
Russia has to get busy whilst it has the reserves to do so, in "democratising" the wealth it has - no more oligarchs with billions whilst millions of people live in poverty. The reserves - and the wealth of the oligarchs - have to be invested in modern industrial production which will lift the domestic situation through increasing the incomes of the people now employed in better paying jobs and present Russia in an excellent position for when the world economy recovers to be a major exporter too. And this whether the oligarchs agree to it or not. For however wealthy they now believe themselves to be, their wealth is being evaporated right now in the world crash and will evaporate more as time goes on and the resources over which they have control are less and less in demand due to the crash, and so drop in value. Yes - forcible redistribution if necessary, to bring about a situation which recognises that all Russians are in this together, wherever on the economic ladder they might stand relative to one another. And above all, a return to real assets which are valued according to their real wealth - not the conjurings of bankers who need them to be inflated to cover the bankers' excesses. E

DarkSteven -> RE: Russia may need help if oil falls more (12/20/2008 9:45:29 AM)
LadyE, Russia has been traditionally famous for two things:a stifling central government, and an ingenious populace that managed to work around the government and frequently made a lot of money doing so. Russia already tried to let capitalism bloom unaided, and it succeeded on a VERY small scale. The US sent large amounts of aid, and it gave rise to the term kleptocracy when it just disappeared. Gorbachev was a true leader that tried to change Russia. Yeltsin was a drunken buffoon, Putin is a very nasty little KGB apparatchik, and the sooner he's gone, the better,

popeye1250 -> RE: Russia may need help if oil falls more (12/20/2008 11:33:02 AM)
How's Russia comming on making their payments on that $67B that we loaned them a few years back? Anyone know?

NorthernGent -> RE: Russia may need help if oil falls more (12/20/2008 1:53:14 PM)
quote: ORIGINAL: popeye1250 How's Russia comming on making their payments on that $67B that we loaned them a few years back? Anyone know? Aye - they're all vodkad up to the eyeballs on your money.

Lorr47 -> RE: Russia may need help if oil falls more (12/20/2008 2:00:20 PM)
quote: ORIGINAL: popeye1250 How's Russia comming on making their payments on that $67B that we loaned them a few years back? Anyone know? Does our government require repayment of anything under $100 billion? A mere pittance.

DarkSteven -> RE: Russia may need help if oil falls more (12/20/2008 2:13:11 PM)
quote: ORIGINAL: Lorr47 quote: ORIGINAL: popeye1250 How's Russia comming on making their payments on that $67B that we loaned them a few years back? Anyone know? Does our government require repayment of anything under $100 billion? A mere pittance. Ever take out a student loan?

awmslave -> RE: Russia may need help if oil falls more (12/20/2008 5:59:33 PM)
Russia seems to be OK. At least they can afford impressive military exercises south US border.

Sanity -> RE: Russia may need help if oil falls more (12/20/2008 7:18:13 PM)
Yeah, pretty impressive. Russia was able to piece together one warship and two, what are they, tugboats, capable of making the voyage. And remember, that was prior to the financial crunch. quote: ORIGINAL: awmslave Russia seems to be OK. At least they can afford impressive military exercises south US border.

Lorr47 -> RE: Russia may need help if oil falls more (12/20/2008 8:01:56 PM)
quote: Ever take out a student loan? Touche

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