Russia: Short The Bear

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By Capitalists@Work on June 29, 2009 | More Posts By Capitalists@Work | Author's Website

Whilst (Prime Minister) Putin has been making great hay on the world stage about resilient Russia and the need for a new currency to replace the Dollar, the truth is also out there.

Russia’s economy is collapsing at 7.6% a year; it is a performance worthy of Newcastle United.

Now, only two years after trying on the game of resource nationalisation, it seems Russia is retreating by inviting Shell back in.

Desperate Shell will take the bait; but the bear is very wounded right now. Any further collapse in commodity prices will utterly wreck the economy. I fully expect commods to re-trench later this year after their current spike. Industrial demand is just no there right now.

Russia is in for a tough time. Sadly this means more diversionary foreign wars and intervention to distract Mother Russia’s masses.

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