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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (17263)2/4/2009 11:51:59 AM
From: RockyBalboa  Read Replies (2) of 71456
 
While the downgrade of Russia is a "sympathetic" move given the levels sovereign debt is trading anyway; perhaps to please debt markets it puts an endpoint to the much hyped russian bubble; then again through Fitch, Russia is "objectively" told, your bad debt is worse than ours, please pay up for any future issue.

Of course, it begs the question whether further humiliation of Russia is necessary after pan european problems with Russian gas supplies.

Remember, at $40 oil, Russia is far away from building reserves it is draining for some time and down to 200 from 400; Russia needed $70 oil to sustain its budgets; and the country still would need a lot of infrastructure investments.
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