Re: Re: and the winner is ............Russia

[Doug Henwood <dhenwood@xxxxxxxxx>]

michael perelman wrote:

> I have hard time understanding all of this.  Only a few months ago,
> Russia was a basket case.

No. The Russian economy has been growing pretty strongly for the last
couple of years. The post-crisis devaluation helped a lot, as did
higher oil prices, and the stability provided by Putin's government.

> Just like Argentina was supposed to pose a risk for all LDCs, but now it
> is not.

When was it supposed to pose such a risk? Argentina's imminent
default had been in the markets for months, so the actual event was
an anticlimax. For the markets, not working class Argentines, that is.

Doug