Russia Hikes Interest Rate to 21%! Russian Economy is Cooked!

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[danieledwards]

The bank rate is 21%, the lending rate will be higher.

[adequatedrainage]

The bitter irony of a kleptocratic Russian government killing its own golden Goose. 😢

[Cumbriamag]

From a British vet to a US vet - well done brother.

[hedleythorne]

A week ago the trolls on here were saying "everything is fine". Well Russian interest rates are now 21 per cent, yet the rouble continues to devalue!!! This is now the economic event horizon. Ukraine now needs to target more ammunition stores, refineries and maybe now the wells too, and we just gave them another 50 billion. Wave goodbye to the last of the sovereign wealth fund. Lesson: don't invade your neighbour.

[tihonannenkov]

I am from Russia, my family (all living abroad since many years) had sold the appartements we had in Moscow two years ago and they had lost around 50% of their value when converted into dollar / euro by then, but we were still rushing to do that because we all felt like it was still an opportunity to get SOMETHING. As a kind-of-insider, the situation is very bleak there and it is only going to get worse. The interest rate, inflation, foreign investments stopping completely, embargo, absolutely insane military spending - there is simply no way the Russia is not heading towards collapse.

[brandongarrett]

One man wrecking a country single handed. What a genius Putin is.

[CoffeeAndPaul]

I am an economist and a US Fed civil servant.

The Russian Central Bank is managed by Elvira Nabiullina, a Bashkir lady about 60 Years old who has a good international reputation among the central banking community for her honesty & the way she develops concrete progressions of technical solutions to macro problems that would be easy for economists & bankers would sort of get lost in while attempting to pick the problem apart.

Mrs. Nabiullina, like Russian Foreign Minister Sergey Lavrov, is one of the senior officials of the Kremlin who have attempted to resign and whose resignations Putin refuses to accept. She tried to quit in protest of their 2022 invasion & as far as I know has tried at least another two times since then.

The Bashkir are the people you saw in April protesting the arrest of environmental activist Fail Alsynov who was protecting a mountain from being strip mined.

[bulldowozer]

100.000.000 Rubles for a loaf of bread
*LET'S GO!!!*

[dmitrydk]

From 3 day special military operation to 21% interest rate. Future looks bright 🌞🌞🌞

[garypowell]

While the "official" inflation rate recently fell to 8.5%, it is counterintuitive that a falling inflation rate led to the Central Bank to raise their interest rate. A highly respected economist recently stated that the Russian's actual inflation rate is around 27%. Afterall, they wouldn't lie, would they?

[stuzza]

Russia can solve inflation easily. As soon as they introduce a 2-ply flushable Ruble, it will never drop past the floor value of TP. This strategy is called the TP-standard. Higher denomination notes can be extra-soft 3-ply or 3-ply perfumed.

[johnwalsh]

and I predict by 2025 or 2026, Russia will be fielding North Korean tanks trying to pass them off as Russian ones haahah

[krisfrederick]

It's when the Tetris music starts going REALLY fast but you're playing Monopoly and RISK simultaneously.

[tolrem]

Apparently butter, a staple food there, is so expensive that it is kept in a locked security cabinet like it's an i phone or something.

[yanec]

Oh, there is definitely too many rubles in russian economy, remember all those signon bonuses? Problem is that though, that too much currency is on top of a hundred other issues of russian economy. Too much currency, not enough goods, not enough workers, companies must compete with the military for employees, which means they must offer higher pay, which in turn raises product costs... Its a downward spiral and there is no stopping it now, russian economy is officially cooked

[adamstotsky]

If Russia was a stock, I would recommend to sell it now

[zanelamont]

Giday Paul and everyone, outback South Australia checking in. SLAVA UKRAINE cobber.

[SummitMan]

Pretty good news and good report Paul !!💪💪🇺🇦🇺🇦🫡🫡🇨🇦🇨🇦

[lordofelectrons]

Better spend that 20 Grand before reaching the front.

[scobra]

In Russia you don't bring inflation down, inflation bring you down 🤣🤣🤣