| Author |
The "R" in BRICs Replies |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
 |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
 Posted: Tue Jan 31, 2012 4:56 am Post subject: |
 |
|
| Quote: | | Retail sales jumped 7.2 percent in 2011, faster than the previous year’s 6.3 percent increase, as consumer prices rose at the slowest pace since the collapse of the Soviet Union two decades ago. Inflation totaled 6.1 percent last year, according to the central bank, which is seeking to trim that to 6 percent in 2012. |
All amidst $86B outfllow...but budget surplus at average $109/barrel crude! Loose Putin and....
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Wed Dec 15, 2010 9:40 pm Post subject: |
|
|
When Putin came to power he first reverted the anthem back to the grand Soviet one of old. The rest of things now are looking more and more familiar:
| Quote: | A shrinking pie
Corruption was also excessive in the 2000s, but it was compensated for by strong economic growth and fast-rising incomes. This, and soothing television pictures, created a sense of stability. But the global financial crisis hit the Russian economy harder than that of any other large industrial country, exposing its structural weakness. As Vladislav Inozemtsev, an economist, argues in a recent article, the improvement in living standards was achieved at the cost of massive under-investment in the country’s industry and infrastructure. In the late Soviet era capital investment in Russia was 31% of GDP. In the past ten years Russia’s capital investment has been, on average, about 21.3% of GDP. (For comparison, the figure over the same period in China was 41%.)
Despite rising oil prices and a construction boom, Mr Inozemtsev says, in the post-Soviet period Russia has built only one cement factory and not a single oil refinery. The Soviet Union used to build 700km of railways a year. Last year, it built 60km. “We have lived by gobbling up our own future,” he argues. Peter Aven, the head of Alfa Bank, the largest private bank in the country, thinks today is like the late Soviet period: “Once again the main source of wealth is oil and gas, which is being exchanged for imported goods. The state today is no better than Gosplan was in the Soviet Union.” |
http://www.economist.com/node/17674075?story_id=17674075
_________________
Today is the Tomorrow you worried about Yesterday!
Last edited by rffrydr on Tue Jan 31, 2012 4:58 am; edited 1 time in total |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Sun Sep 26, 2010 9:13 pm Post subject: |
|
|
TPG
Published: September 26 2010 20:30 | Last updated: September 26 2010 20:30
| Quote: | Guards took over the St Petersburg headquarters, riot police stood by and 20 people were arrested. Far from a revolutionary rally in 1917, it was the scene last week at Lenta, the Russian hypermarket and portfolio company of TPG, the US private equity group. Its $100m investment with joint venture partner VTB, Russia’s second-largest bank, gives new meaning to the phrase corporate infighting.
The kerfuffle – a reminder that emerging markets offer a high return for a reason – started when Jan Dunning, Lenta’s chief executive, was locked out of his office after a rival investor in Lenta attempted to install Sergei Yushchenko as a replacement. Mr Yushchenko, incidentally, was also chief executive of a competitor and was previously fired from the top spot at Lenta. TPG’s investment in the country is not even one year old. Welcome to Russia. |
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Mon Aug 09, 2010 8:48 am Post subject: |
|
|
Astonishing that china is now bigger producer of wheat than US. Ethanol is a big part of that equation but do not underestimate china's ability to live from behind the wall. That wheat is now considered "off the market." Watch for some serious leakage there for as always in china, if the price is right, "let them eat bitterness." From the broker:
| Quote: |
Global carry-in wheat stocks, 5 major exporter wheat stocks (US, EU, Can, Aus & Arg) and FSU/Turkey wheat stocks
are poised to unfold as follows:
5 Major FSU/Tur World
06/07 38.2 42.6 130.6
07/08 27.1 mmt 34.1 124.4
08/09 47.2 mmt 64.5 165.2
09/10 54.3 mmt 75.4 193.0
10/11 38.3 mmtF 51.8F 173.0 F
Global numbers do not appear alarming but remember that 65 mmt of 2010/11 global wheat carryover (37%) is in
PRC –virtually isolated from the market. The 1st column is by far more important as it highlights that 2010/11 major
exporter wheat stocks are only 11 mmt more than 07/08 major exporter stocks which equate to just less than half of
the Aus or Can wheat crops or nearly the entire Arg crop. Shrinking stocks owned by the 5 major wheat exporters
underscores importance of stress free production in the S Hemisphere and Canada.
Late session row crop sell off related to heavy farm selling and reluctance of end user/spec community to latch onto
gravity of FSU events on verge of large 2010 US CN/BN harvests.
Key news items to watch include extent to which Kremlin can arm twist Kazak and Ukraine to divert all or a portion of
their wheat exports (nearly 17 mmt in 09/10) solely to Russia. Additionally, the Ukraine exported 2.1 mmt of feed
grains last year which the Kremlin is likely interested in as well.
Bottom line—no sign of top as yet. Huge CBOT ag volume today (over 1 mil contracts) did not display frothy
behavior that characterizes panic blow off. Wheat traded off the limit throughout the day. We think wheat end users
are still short and at risk for further price gains. Don’t even think about Corn/Wheat until more evidence emerges that
wheat is being squeezed out of feed channels. Trade has not come to grips with upcoming shift of wheat feeding to
corn. A titanic 2011 US acreage battle is brewing. Don’t be misled by hefty US row crop yield estimates next
Thursday. Unlike past Russian crop shortfalls, Kremlin leadership is more sensitive to public opinion, food inflation
and they have the cash via oil revenues to keep their country fed. Additionally, don’t look for passive wheat longs to
do any favors for the shorts. |
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Mon May 17, 2010 6:13 am Post subject: |
|
|
*RUSSIA CUTS EURO SHARE OF CURRENCY RESERVES, BOOSTS DOLLAR: IFX
*INTERFAX CITES CENTRAL BANK ON BREAKDOWN OF RESERVES ON JAN. 1
It's a dollar un-crisis. 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Thu May 06, 2010 7:07 am Post subject: |
|
|
From the TEI post:
| Quote: | ...Russia raised $5.5 billion at all-time low yields on April 22 in its first Eurobond sale since the government’s 1998 default. The government would have scrapped the offering had it waited another week because “the market was gone,” Deputy Finance Minister Dmitry Pankin said on April 30.
“Russia picked an ideal time to issue when the markets were very tight and risk appetite was extremely positive,” said Dergachev, who helps manage about $6 billion in emerging-market debt in Frankfurt. Developing European countries now “will find it very hard to sell without a premium offered to investors because of contagion risk,” he said. |
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Thu Dec 10, 2009 11:27 am Post subject: |
|
|
Russia’s CB is not considering following countries like Argentina and South Korea in conducting currency swaps with China. Says the yuan is too insular for swaps. 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
NPearce
Newbie
Joined: 07 Oct 2009
Posts: 2
|
| Posted: Wed Oct 07, 2009 5:16 am Post subject: |
|
|
| I have noticed the throngs of Russians on the Austrian ski slopes. All overdressed in the latest 'Spyda' gear, spending very little time on the slopes and an awful lot in the bar. |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
Please log in to view without the ad banners |
|
|
FAQ
Search
Memberlist
Usergroups
Statistics
Register
Profile
Log in to check your private messages
Log in
