[lbo-talk] Russia's economy (was Kvetching, Sarkozy etc.)

Chris Doss lookoverhere1 at yahoo.com
Wed May 9 06:00:15 PDT 2007

Yes, Russia is currently a net creditor nation.

Victory is indeed sweet, what with all the cars, personal computers, stereos, DVDs, color televisions that don't blow up, and Planet Sushis. Did you know that Moscow has over 30 Sbarro's Restaurants? http://www.sbarro-rus.com/restaurants/moscow.htm . The megamalls going up everywhere are enormous. I had a Subway's Italian BLT sandwhich in one the other day for lunch. The people they are serving are not the nouveaux riches, it is the large and growing middle class, which never existed before in Russian history.

Friggin' downtown Rostov-on-Don has at least 3 sushi restaurants by my count, all within 3 blocks of each other near the Internet cafe on Budennovskaya St.

--- James Heartfield <Heartfield at blueyonder.co.uk> wrote:
> One important indicator of the change is that
> Russia's debt, which had been
> marked down by traders as so many junk bonds, has
> been re-classified as
> investment grade - greatly reducing the cost of
> borrowing. And under Putin
> debt has been paid off, reducing from 50 to 30 per
> cent of GDP. IMF debts of
> $3.3bn and $22bn owed to creditors in the Paris Club
> were repaid ahead of
> schedule in 2005 and 2006 respectively.
> Happy Victory Day, Chris
> ___________________________________

Lyubo, bratsy, lyubo, lyubo, bratsy, zhit!


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