The anniversary of the crisis: the avaricious pays twice

Written by admin on September 14th, 2009

 
A year ago, took the famous bankruptcy of Lehman Brothers, which caused serious turmoil in the global economy. The U.S. monetary authorities have provided support to other key institutions of the financial system, however, in the case of Lehman decided to save and get a good well-known negative effects. Miserly pay twice. Avoid large-scale banking crisis a year ago in Russia managed only by massive government bailouts. Russia did not collapse, no major bank. The fall in oil prices and a large-scale capital outflows forced the government to devalue the ruble. Over the past year, the world has not changed and is unlikely to change anytime soon. Discussions pessimistic about the economic collapse, the collapse of capitalism and the beginning of a new socialist era, as expected, and were talking.

This soft monetary policy of central banks worldwide will continue to push up commodity prices and stock indices. Accordingly, Russia's oil and gas companies and the budget will be automatic increase their income without increasing effectiveness and productivity. As a result of the crisis in Russia the share of state in the economy reached 50%. This state-owned companies in general are losing on the efficiency and transparency of private companies. Rosneft - only a pleasant exception. The belief that with a lag of 3-6 months Russia will emerge from the crisis, I made immediately after the bridge turn Brent at 60 dollars per barrel. The modern world is much more comfortable for Russia than one might think. Naturally, the U.S. will remain the status of major financial center, and the dollar's reserve currency. Although, of course, the U.S. has lost the status of the controlling shareholder in the global economy. This devaluation is gradually forgotten, and he has all chances to become a regional reserve currency within the CIS. A year ago, pessimists said that by September 2009 Bank of Russia's reserves fall to zero. However, the volume of international reserves of Russia as of 4 September 2009 amounted to 404.9 billion dollars.

Of course, soon the world economy and stock markets are waiting for new problems. The result of monetary pumping will increase inflation and following it, rising interest rates, which would be a serious negative for the stock markets, especially emerging markets. However, this is standard market situation. Russia national car companies and citizens should raise their own performance on a daily basis. Improve productivity, openness of companies to develop fields in Eastern Siberia and the shelf. The stock market and macroeconomicsometimes there are very significant variations, however, as a result of the invisible hand of the market puts everything in its place. With a high probability of the RTS index in the current year will be released in the corridor 1300-1500 points, oil prices remain in the corridor of 65-75 dollars /barrel.

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Asian indexes fell Monday on fears the excessive growth of stock quotes
U.S. stock indices dropped Friday, a week increase in SP 500 was the highest since July

 

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