Coincidentally, I asked the same question on LinkedIn a week ago and got quite a few interesting answers:
http://www.linkedin.com/answers?extendQuestion=&askerID=2704123&goback=.hom.mid_795704078&questionID=338307 - Emin ________________________________ From: "[EMAIL PROTECTED]" <[EMAIL PROTECTED]> To: [email protected] Sent: Monday, October 13, 2008 9:31:33 PM Subject: Expat List crisis. My jaded opinions having lived here since 1993... 1- where did the crises rise from 1) Everyone bought Mortgage backed Derivatives, good return, high risk. duh, 2) the bubble popped.. and everyone with cash wants to keep it, and 3) simply everyone, everywhere, drank from the river of credit that was available. Here the river was even flowing faster.. just bribe the loan officer! 2- is it a financial crisis or it will effect the real economy Russia? yes it already has.. and will continue. No lending now even from Sbir bank. and capital spending has come to total halt, consumer spending to follow, stay tuned.. 3- how is Russia effected from the crisis do you expect and kind of bankruptcy here personal bankruptcy no. companies also generally no, just stagnation. Commercial real estate will come down to earth, and many residential projects will also not be so profitable. But profit margins were so high that the bottom is very far below what is current market. Ruble should hold generally. assuming the reserves that Russia says they have they actually really have )) 4- Any idea about oil prices where it will stop upward on dawnword Oil will be around $100 / bbl in next months.. and if any economic recovery back to the $120-130 range. production matches demand generally, and there is no excess capacity to produce to keep prices at current levels. 5- what is the expectation about the future of the crisis Hard times here in Russia for real estate and capital and consumer goods for next year. hold on to your hats.. but of course with positive cash flow due to resource exports it will turn back in Russia's favour.. energy will rule. We can have more of them but i guess it is enough ________________________________ New MapQuest Local shows what's happening at your destination. Dining, Movies, Events, News & more. Try it out!
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