Eugene David ...The One-Minute Pundit |
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Monday, June 16, 2008
The bad news: Belly Kisser (thanks in no small part to his friends Dwight and Co.) is making money.
The good news: Russia is currently struggling with 15% inflation, the highest rate among the so-called BRIC countries - Brazil, Russia, India, and China. Last week, the central bank raised interest rates in an attempt to curb surging inflation. While Russia exports many commodities, it is a net food importer and global food prices have risen steeply in recent months. Food prices account for more than 30% of the consumer price index basket in Russia. [HA! HA! HA!] "In the short run, it's manageable," Brandt said. "In the long term, it poses a considerable threat to Medvedev's [SIC] promises to steer Russia towards a more market-based system. Inflation is really hurting a lot of people who depend on the state." And isn't oil the state in Russia?
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