The Cellar - View Single Post - Ruble is sinking so Russia raise interest rates

xoxoxoBruce · 12-16-2014, 02:31 PM

The Russian budget was fixed on oil staying at $100. It's dropped to $70 and the Saudis say they won't cut production to jack the price. Plus the sanctions over their invasion have added to their woes. Back in the early 80's when some mortgages and personal loans were hitting 18 or 19%, it was painful.

12-16-2014, 02:31 PM	#3
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	The Russian budget was fixed on oil staying at $100. It's dropped to $70 and the Saudis say they won't cut production to jack the price. Plus the sanctions over their invasion have added to their woes. Back in the early 80's when some mortgages and personal loans were hitting 18 or 19%, it was painful. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.