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Old 12-16-2014, 07:22 AM
 
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I have to say that it is a stunning experience to view how Russia is struggling in the wake of an ongoing oil plunge and national budget and currency crisis. Let's discuss what to do here at home in NYC to prepare or even to benefit from a disappearing world power.

A burning question to ask is what will NYC RE market catch a big cold from the ongoing Russia/BRICK crisis? Anybody seeing similar situations in his or her previous life would be kindly willing to opine?
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Old 12-16-2014, 07:25 AM
 
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Russia's slide toward economic crisis


A year ago, Russia's economy was growing by about 1.5% and President Vladimir Putin was preparing to host the Sochi Winter Olympics.

Fast forward 12 months: Moscow is trying to prevent a currency crisis turning into an economic catastrophe, and finds itself more isolated than at any other point in the last 25 years.
[CENTER] [/CENTER]


The crisis carries big risks for Western banks and companies that do business with Russia.



So how did it come to this?
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Old 12-16-2014, 07:29 AM
 
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A related question:

how exactly the oil price keeps sliding non-stop?

sure there is a supply-demand factor, but how so that change is so acute instead of being progressive?

While else where in the country ppl are waiting to enjoy $1/gallon gas in the foreseeable future, NYers benefit the least from sliding gas prices and for worse, the MTA keep bumping the metro card price. Are you not outrageous about this?
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Old 12-16-2014, 07:31 AM
bg7
 
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Quote:
Originally Posted by leoliu View Post
Russia's slide toward economic crisis


A year ago, Russia's economy was growing by about 1.5% and President Vladimir Putin was preparing to host the Sochi Winter Olympics.

Fast forward 12 months: Moscow is trying to prevent a currency crisis turning into an economic catastrophe, and finds itself more isolated than at any other point in the last 25 years.
[CENTER] [/CENTER]


The crisis carries big risks for Western banks and companies that do business with Russia.



So how did it come to this?

What do you mean how did it come to this? You didn't read about the last years of sanctions by the West after Russia went all 1940s and invaded its next door neighbor?

And then OPEC keeping oil low to screw further shale/tar sands investments?


But Putin is still popular - average Russians are sort of clueless about it. They will carry on suffering, like they have done for centuries. Its normal for them.
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Old 12-16-2014, 07:39 AM
 
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Quote:
Originally Posted by bg7 View Post

And then OPEC keeping oil low to screw further shale/tar sands investments?

.

I heard of such stories but I did not understand the motives of the opec of doing this.. Many opec nations have oil-dependent economy system and driving down oil price is risky to their existence. There should be some other tricks behind.

On the other hand, I cannot wait to see the crash of oil-welfare countries where ppl get well fed for doing nothing but to extract oil from the ground.
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Old 12-16-2014, 07:46 AM
 
Location: Beautiful Pelham Parkway,The Bronx
8,389 posts, read 19,632,656 times
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Quote:
Originally Posted by leoliu View Post
I heard of such stories but I did not understand the motives of the opec of doing this.. Many opec nations have oil-dependent economy system and driving down oil price is risky to their existence. There should be some other tricks behind.

On the other hand, I cannot wait to see the crash of oil-welfare countries where ppl get well fed for doing nothing but to extract oil from the ground.
You mean like Alaska and Texas ?
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Old 12-16-2014, 07:49 AM
 
Location: Manhattan
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Russia will survive.

Quote:
and finds itself more isolated than at any other point in the last 25 years.
Would that the United States get a bit more "isolated" instead of fighting wars all over the globe.

Currency crisis? A country that is as isolated as you say CANNOT have a currency crisis...it can print all it wants and never have to worry about the relationship of its currency to any other.
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Old 12-16-2014, 07:50 AM
 
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Quote:
Originally Posted by bluedog2 View Post
You mean like Alaska and Texas ?
I did not know that Texas and Alaska have already broken apart from the rest of the country...

But seriously, while Texas is big on oil, its medical and technological innovations are leading the rest of the country/world, not to mention its red neck politics.
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Old 12-16-2014, 07:52 AM
 
Location: Manhattan
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Quote:

I did not know that Texas and Alaska have already broken apart from the rest
of the country
We should be so lucky.
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Old 12-16-2014, 07:53 AM
 
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Quote:
Originally Posted by Kefir King View Post
We should be so lucky.

Please explain...
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