Thursday, November 13, 2008

Russian chaos

The Russian stockmarket fell 15% today in 40 minutes at which point the exchange was closed until Monday. It's now down 79% since July 07. Meanwhile Medvedev is heading off to an EU summit in France and then to Washington for a G20 meeting on Saturday. He was, I think, the only leader not to express enthusiasm for Obama, taking the opportunity instead to announce the deployment of missiles aimed at the West to Kaliningrad, although his officials subsequently restated his message, saying that the missiles would only be deployed if the US went ahead with its missile defence system in Poland and the Czech Republic. BO's supposed to be dismantling Guantanamo Bay. Let's see if he backs down against Russia.


Blogger kinglear said...

A surrender monkey? His support would disappear overnight.
By the way, how are the Russian billionaires doing? presumably 79% down? Jolly Good!

9:50 am  
Anonymous Anonymous said...

Hmm... but wouldn't it be tempting to indulge in a bit of shorting, spread market panic, if one wanted a long weekend ?

Now there's a thought..

3:00 pm  
Blogger Ellee Seymour said...

I wonder what this will mean for us.

5:22 pm  
Blogger Winchester whisperer said...

You may be right KL. Russian billionaires have lost millions unless they've been shorting as Anon suggests. (I don't trade Russia so am not sure if they've banned shorting there or not.)
Hi Ellee - it may mean less interest in UK football clubs.

9:20 am  
Blogger kinglear said...

I suspect shorting in Russia may result in a visit from several gentlemen carrying Kalashnikovs - unless Putin is one of the shorters......

2:49 pm  
Blogger Welshcakes Limoncello said...

I thought that was pretty mean-spirited of Medvedev - not congratulating Obama, I mean.

9:41 pm  

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