Ruble plummets; Putin gambled big, lost his shirt

984356-53c98506-5323-11e4-bb6c-6a17830799acThe cocksure, ready-for-a-gamble Vladimir Putin isn’t quite so cocksure these days. In fact, he appears to have lost his shirt.

Against the dollar, the Russian ruble has fallen by almost 50 percent in 2014, by 25 percent in the just past three weeks and by 11 percent today alone. Inflation is soaring, the value of savings is disappearing, foreign investment is fleeing and and repayment on multi-billion loans (payable in hard foreign currency) has become much more difficult.

In addition, more than three million people of prime productive age — between 18 and 45 — have left the country in the past few years, taking their talents with them. And thanks to sanctions imposed after the invasion of Crimea and the intervention in Ukraine, Western banks couldn’t help even if they wanted to try.

The crisis is the product of a lot of things, including bad timing. Putin launched his military adventurism just before a global collapse in the price of oil and natural gas, which have been the core of the Russian economy. He also badly underestimated the reaction of Western leaders such as President Obama and Germany’s Angela Merkel, who have joined to establish and enforce much more strenuous sanctions than the Russians expected.

You have to wonder what this economic crisis is doing to Putin’s popularity.  Not too long ago, he was being lionized by his comrades for his supposed success in restoring Russia to a prominent place on global politics. Even here in the United States, politicians such as Ted Cruz were complaining that ‘in the geopolitical stage, it is almost as if the Russians have a renowned grandmaster playing chess and the United States is playing checkers.”

“President Obama said that Russia would face ‘costs’ if it intervened militarily in Ukraine,” John McCain said back in March. “It is now essential for the president to articulate exactly what those costs will be and take steps urgently to impose them.”

Are you happy now, Senator McCain?

 

Reader Comments 0

305 comments
BigTimeJacketFan
BigTimeJacketFan

Has he left Ukraine yet?  Didn't think so.  Whatever monetary problems he has right now, he knows he has no military problems.

lvg
lvg

Destruction of Russian economy can't possibly have anything to do with US sanctions and actions of the Black Muslim from Kenya. 

WGA1990
WGA1990

Lenin says.... "Sounds like you've been listening to a little too much NATO / Washington propaganda."

Lenin, I of course know nothing about you personally other than what you post on this blog but from your posts you're clearly pro-Russian and anti-American. Maybe you come from a family of Russian immigrants who sympathized with their mother-land and grieved at the collapse of the former Soviet Union or maybe you were radicalized into a pro-communist counter culture back in the 1960's. Whatever, the case may be you're living in a world of propagandized delusion. Your posts on the surface reveal a man who sounds well educated but the content of your posts reveal a man obsessed with an ideology that failed miserably and you're failing miserably attempting to defend it.

LilBarryBailout
LilBarryBailout

@WGA1990

He sounds like someone perfectly content to admire his totalitarian regimes from the safety and comfort of a somewhat free and somewhat prosperous locale.

Walk the talk, LT.

TBS
TBS

@LilBarryBailout @WGA1990


"Walk the talk, LT."


Oh the irony


Thought you were having brain surgery today (in your case a colonoscopy)?

My apologies if it wasn't you who mentioned that. 

Visual_Cortex
Visual_Cortex

@WGA1990 @stands_for_decibels

He views liberal and left as an oxymoron 

oh, sure... I'm just using terms normal people use.

(I guess if I were ever bored I could pretend not to understand LT's point, but it's actually a pretty good one.)

Visual_Cortex
Visual_Cortex

@WGA1990

you're clearly pro-Russian and anti-American

[...]

you're living in a world of propagandized delusion

Obviously LT can speak for himself but from what I've seen of his posts, I'd say neither of these statements are true.

I don't think he gives a rat's @ss about nations, so he couldn't be "pro-Russian." I think he sees nations--quite correctly--as artificial constructs, utterly fluid. Where he and I part company is in imagining that they exist mostly to terrorize and subjugate their citizenry. That's just too dumb Tea Party-ish a worldview for my liking.

And as for "propagandized delusion"--oh really? where is this propaganda coming from? LT has nothing but disdain for the left/liberal leaning American media outlets.

I find him irksome a lot of the time, but I do think his opinions are genuine, and not be directed by some America-hating cabal.

tireOfIt
tireOfIt

That picture must be driving the rectal feeders wild.

MiltonMan
MiltonMan

Obama is sitting on further sanctions that the congress passed.  Obama is a wimp.

Visual_Cortex
Visual_Cortex

@MiltonMan

I realize that Tinkerbell dies if you ever give credit where due to this Administration, but what other aspects of your personal life are impacted? Just wonderin'.

LilBarryBailout
LilBarryBailout

Coward Obozo dismantled our missile defense against Russia and emboldened Putin.

Now he is helping Iran run out the clock and get their bomb built.

And he's giving up control of the free and open internet to...well, we have no idea.

Your Idiot Messiah does love him some pre-emptive surrender and weakening Our Country.

gotalife
gotalife

But a look at the comments on Yoder's Facebook page shows that some people, including Kansas voters, are catching on that he was the one behind the Wall Street provision. And they're not happy.

"I have always voted for you, Congressman Yoder, but I am disappointed with your yes vote on the Omnibus bill and we, your constituents, deserve an explanation as to why," writes Dianne Lavenburg, who lives in DeSoto, Kansas. "[P]lease clarify your involvement regarding the taxpayer bailouts for risky bank investments also included in the Omnibus bill."

"How much did Citi donate in exchange for you inserting their requested verbiage?" asks Kevin West, who studies at Kansas State University.

"Why is there a Wall Street giveaway in the Continuing Resolution? Did you learn nothing during the last cycle of collapse and bailouts? Plain ignorance, or willful ignorance?" says Rich Reavis, who plays in a band called Rail Dog that performs around Kansas. "Did you speak out against putting that crap in the CR?"

Scott Gregory of Roeland Park, Kansas, which falls in Yoder's district, says, "I'm sure the good folks of the 3rd District were just beating down the door to get CITI favored treatment. You are a sell-out to Wall Street lobbyists."

Some cons are not bowing down like bush with pootie.

LilBarryBailout
LilBarryBailout

@gotalife

You love government interference in private business and have no credibility on this.

Keep liberal fascists out of our boardrooms.

LeninTime
LeninTime

@WGA1990 Putin still has forces in Eastern Ukraine and has been projecting military adventurism over the Western world in the form of his military air assets invading or coming close to invading NATO airspace. Most troubling is his buildup of forces in the Baltic sea

***

Sounds like you've been listening to a little too much NATO / Washington propaganda. 

Putin's forces in E Ukraine? Really? Real, actual Russian forces? Sure about that? 

His buildup of troops in Baltics troubling? Well, how troubling is it from Russia's standpoint that NATO has integrated all of the Baltic countries into NATO, in blatant violation of pledges at the end of the Cold War and with many of these countries with virulently anti-Russian leaders at the helm? Does that not count? 

You know, the way you blindly swallow NATO/Washington rhetoric, you sound almost like Bookman! 

Robtown
Robtown

Bet W thinks Putin's pecs are pretty nice... to go along with his "good soul"... 

LilBarryBailout
LilBarryBailout

@gotalife

If liberal fascists didn't hate their country they'd meet every bit of the definition of "Nazi".

CherokeeCounty
CherokeeCounty

To the topic at hand, what was really disturbing was the swooning that people like Giuliani and Palin did over Putin vs Obama.

Putin was a manly man - Obama wore mom jeans.

Idjits.

ThulsaDoom
ThulsaDoom

@CherokeeCounty


Guiliani and Palin were, ahem, "swooning" over Putin? 


When you have to lie to make a point you really don't have a point. 

CherokeeCounty
CherokeeCounty

@ThulsaDoom @CherokeeCounty 

Before you call someone a liar, you might want to do a little bit of damn research.

Guiliani, on Fox:  “[H]e makes a decision and he executes it, quickly. And then everybody reacts. That’s what you call a leader,” Giuliani said.

Palin, on Hannity:  “People are looking at Putin as one who wrestles bears and drills for oil,” Palin said to Fox News’s Sean Hannity on Monday night. “They look at our president as one who wears mom jeans and equivocates and bloviates.”

Read more: http://www.politico.com/story/2014/03/sarah-palin-president-obama-vladimir-putin-104218.html#ixzz3M3Ao41hB

ThulsaDoom
ThulsaDoom

@Jackie_36


You really ought to read your link the whole way through Jackie. It doesn't say what you say it sez. Either you are misleading again and or hoping people don't read the whole link. Wilson clearly said he was charging at the time. If he said his hands were up as he was charging then so what. Does anyone charge or run with their hands down around their waist? Um. No. I speculate you'll be beating on your dead horse all night. 

ThulsaDoom
ThulsaDoom

@CherokeeCounty


Can't make the distinction between trusting grandiose gubment policies and trusting the word of a cop backed up by a mountain of forensic evidence plus witnesses. Doesn't surprise me that your mind can't discern the difference. 


Fox news has noted several times that according to the most recent govt data available in 2012 123 blacks were killed by police while 326 whites were killed by cops. With almost 3 times as many whites killed by cops there's no conspiracy for cops to mow down young blacks. What's even more amazing about that stats is that blacks commit more of the violent crime- over half of murders and over half of armed robberies. You would think the people armed and committing the most violent crime would have higher cop kill ratios. Surprisingly they don't. 


Bottom line is that statistically speaking it looks like blacks are killed at a much lower rate than whites relative to the amount of violent crime they commit. Matter of fact it really aint even close. Makes me wonder if its open season on whites. Gil Collar would certainly seem to think so. 

CherokeeCounty
CherokeeCounty

@Jackie_36 @ThulsaDoom 

Fascinating isn't it, that the cons are so willing to trust the goverrnment to make correct decisions when it comes to police action against black folks, or torture, or implementation of the death penalty.

But when the government tries to come up with an admittedly imperfect system to get health care to all Americans, folks like td say it's from the pit of hell.

MiltonMan
MiltonMan

@CherokeeCounty


One minute Cherokee is quoting the bible; next minute she is spewing vitriol.  She truly is a nut case.

Jackie_36
Jackie_36

@ThulsaDoom @Jackie_36 You should read what the witness say.  Do you believe the murderer is going to incriminate himself when he has "home cooking" on his team?

Get real!!!

As for beating a proverbial dead horse, you must remember, time is a fortune teller and you have shown how low your "slip is showing."

CherokeeCounty
CherokeeCounty

@MiltonMan @CherokeeCounty 

Coming from someone who hates America - and Christianity - as much as you do, I'll take that as a compliment.

And by 'spewing vitriol' I assume you mean accurately quoting your heros?  If you don't like what they say, by all means stop listening to them.

ODDOWL
ODDOWL

Vladimir Putin had no idea what he was getting himself into when he challenged the might of the apex ace of asymmetrical warfare and commander of the predator drone...  Now Putin will learn the hard way that experience is the best teacher... 

ThulsaDoom
ThulsaDoom

@ODDOWL


Such tough guy talk from the far left. Oddly enough Oddowl left out all the small children that have been blown apart by Obama's drone bombing. 

moonbat_betty
moonbat_betty

The social fabric of the country has gone to $h!t.

God save the Queen.


ODDOWL
ODDOWL

Dorian Johnson testified that the killer cop Darren Wilson shot at Michael Brown while he was running away and Johnson also testified that he didn't know whether or not the bullet hit Michael Brown...  If a witness is disqualified because they smoke marijuana or hashish, shouldn't the same rules apply to all people who drink alcohol or use dangerous prescription drugs like the opiate oxycontin and other debilitating drugs from the drug store... These people's testimony should also be questioned and or disqualified...  The witness line would be very short indeed...

ThulsaDoom
ThulsaDoom

@ODDOWL


You are LYING. Johnson testified repeatedly that the officer shot Brown in the back. 


While speaking to the FBI and county, Johnson said Wilson definitely shot Brown in the back as he fled.


"As he's runnin' passed the third car, the officer behind him pointed his weapon with his weapon drawn and he fired a second that did strike my friend Big Mike in his back 'cause that's when he stopped runnin'," he said.


Later in the interview, he reiterated this claim, saying, "That's why I know he was hit because he stopped runnin'." And on a third occasion, he told the interviewers, "It definitely struck him in his back. I don't know verbatim where at."


http://www.cnn.com/2014/12/14/justice/ferguson-dorian-johnson-statements/

ThulsaDoom
ThulsaDoom

@ODDOWL


If a blogger like you just makes up crap should they be banned from just making crap up? Johnson stated repeatedly that the cop shot Brown in the back. Retract your L-I-E please. 

moonbat_betty
moonbat_betty

I stand on the prote$ters in the name of Ju$tice.



gotalife
gotalife

I stand with the protesters for justice.


You bow down .