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RUSSIANS WOKE UP to a message from their central bank chief today:
We have to learn to live in a different zone, to orient ourselves more towards our own sources of financing, and to give a chance to import substitution.
Basically, Elvira Nabiullina was telling the country to ‘suck it up’.
The rouble continued to free-fall today despite the regulator’s interest rate hike to 17% last night. The currency lost 20% of its value since the beginning of the week, compounding its 56% loss in the year to date.
“What’s happening right now, even in our nightmares we couldn’t have imagined this one year ago,” the deputy chairman of the Russian Central Bank, Sergei Shvetsov told Interfax.
“The situation is critical. Unfortunately, we can’t always predict even the short-term prospects in our financial market. Many participants have found themselves in a difficult situation thanks to these events.
Believe me, the choice made by the board of directors of the central bank — it was a choice between really bad and really, really bad.
That’s not the end of the bad news. Other currencies have taken a crumble – of particular note, the Norwegian krone – and markets are all over the place. After Russia’s 1998 financial crisis, financial markets around the world felt the effects.
Here are three graphs which show just how dramatic today’s events have been.
How much would €1 cost in Russian Roubles? 82 Roubles.
This shows the historical exchange rates from the past six months.
What about our neighbours in the UK? 114 Roubles.
This shows the historical exchange rates from the past six months.
And how about US$1? 65.60 Roubles.
This shows the historical exchange rates from the past six months.
In fact, Russians have been hoarding American dollars in recent months because of fears of a crash.
Despite the reaction around the world, reporters on the ground in Moscow say the crash cause “barely a ripple” on primetime news last night. However, it became a focus point today.
There were also reports of shops being in trouble in the shape of harsh fines if they were caught displaying prices in currencies other than the Russian Rouble.
President Vladimir Putin has blamed the weakening of the Rouble on Western actions – including sanctions taken because of the situation in the Ukraine – against his country. He claims governments are trying to hang a new iron curtain.
There has also been blame placed on falling oil prices, with a barrel now down below $60. That is putting untold pressure on the Rouble because Russia’s economy is built on oil and gas revenues. In fact, they finance more than half of the State budget and Russia really needs prices to stay above $100 a barrel.
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I have bulimia, ..without the vomiting.
You can read minds?
Thats binge eating also an eating disorder.. Most sufferers are very overweight :/
Parents must take responsibility for their own kids health until they’re old enough to understand the consequences of poor nutrition.
Would any parent knowingly give their kids diabetes ? Probably No, and yet they do in their 1000′s, due primarily to laziness and habit. The irony is that the good unprocessed food is on average cheaper, and yet some blame low household income for being obese.
Like most problems in life responsibility for the solution must start at home.
That’s the thing though – the processed junk isn’t cheaper – it’s just easier.
Anyone who makes their own meals from scratch knows that this ultimately works out cheaper than buying processed junk. But the rub is knowing what to cook and how to cook it.
While some people will watch cookery programmes, with the exception of the likes of Jamie Oliver very few focus on stuff that is easy to make. And there are some people out there who look at cooking a healthy meal from scratch vs throwing a pizza in the oven and some chips in the deep fat fryer and they really don’t see any reason to put in the effort.
There’s no excuse these days, there’s apps and websites and cookery programmes everywhere you look – it’s about the desire to actually do it. That’s what we need to figure out how to change.
As we speak I’m eating a healthy tasty salad. Prep time – not even 5 minutes.
Exactly – if you know what you’re doing it’s really not hard, and it tastes better.. It’s just getting people motivated to move away from ready made and back to home made.
Actually fresh organic food is much more expensive than processed or “fast” foods, Wherever your finding that information it’s illegitimate.
Eating disorders me hole. It’s vanity with those men. Preening themselves.
I am sure the little bo***x Fistpatrick has no problem feeding his own with good food .
Robert – I am as shocked and appalled as you, but, can you just wait for the trial to finish so you can comment otherwise, you’ll just about everyone to the point that they’ll dismiss you when the correct time comes.
In the interim, there are plenty of discussion boards you can go to to vent your frustration.
Yes I know but I just don’t like censorship , if it was some poor guy lock up for not paying his tv license we could all make a comment because the journal know that the guy could not sue them one law for the big boy and the rest of us can f**k of.
I think its more to do with the fact that the trial is still ongoing. If someone is convicted then there is no issue with commenting.
The problem is that there is a fear that the defence of the others could try to argue that it is not possible for them to get a fair trial due to media coverage, contents etc.
I agree there is a serious chill effect on the irish media arising from our defamation laws but, that won’t change in time for comment on the bollix in question.
I agree but you and I know that the little bo**x Fitzpatrick will walk away with a big smile on his face as he knows to much ,and the powers at be don’t wont the people to know just what happen .
He always had the best chance to get off, based on whistleblower evidence. However he will be back in court this year, which thejournal.ie could easily post on.
http://m.rte.ie/news/touch//2013/0708/461236-sean-fitzpatrick-court/
My two little fellas wont eat fruit nor veggies, apart from chips an bananna sandwiches
They must have an eating disorder *sarcasm
“I don’t make my children eat healthy balanced meals”
Fixed your comment Jacinta.
Ever think to stop feeding them that sh1t and when they’re hungry they’ll soon eat all the fruit and veg you want. Might have a few tantrums but the right thing is rarely easy.
With a name like Jacintha what do you expect?!
I see where you are going with that buckwheat but normal people are also called Jacinta
Takes to long to make veggies, better ta get chipper or frozen pizza
I see what you did there Jacintha – you got me. The profile is good, if a tad un-inventive. The picture is hilarious and, even funnier is the thoughts of her actually saying ‘fruit NOR veggies’ …
Good stuff!
Is bulking and cutting a disorder?. Makingabeast syndrome ?.
If it’s done properly no, but some of these guys are off the wall with the way they bulk and cut. They cut in a way which causes malnutrition and uses massive amounts of caffeine( eh where’s your vegetables) then when they are finished cutting and have no idea as to the damage they are doing to their bodies they go and do a dirty bulk and start wolfing pizza. A lot of them are worried about their hearts and rightly so but it’s just doesn’t seem to be taken seriously.
have your say