Tuesday, June 05, 2012

Russia's Sudden Economic Weakness is Worrisome

Pay Attention to the Plunging Ruble: Forbes Columnist

Forbes contributor Mark Adomanis writes:

While many Western commentators are chuckling at Putin’s misfortune, Russia’s sudden economic weakness ought to scare the daylights out of all of us since the country is essentially one continent-sized lagging indicator of the world economy. If Russia is in fact slipping away from growth and towards contraction, it’s a sure sign that the economic problems we thought were “contained” are in fact spreading like wildfire. In short, if Russia is really lapsing into recession, we’re doomed.

Read the entire essay.