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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (47030)	3/2/2009 2:24:52 PM
From: petekoby	2 Recommendations Read Replies (1) \| Respond to of 220193

Elmatador I was in Kiev and several other cities in Ukraine 8 month ago. What is happening their is not surprising at all. First of all it is joke by NY Times to call Ukraine "Ukraine, once considered a worldwide symbol of an emerging, free-market democracy that had cast off authoritarianism, is teetering" It was corrupt country under Kuchma, and become the most corrupt country I ever visited under current government. Their economy really was mostly based on credit expansion flowing to real estate speculation which reached totally ridiculous prices and consumer goods. With very good income like $10-12000 people were paying $200000 for 2 bedroom apartments. Prices collapsed to less then half from the peak. Industrial production was destroyed since USSR economy was integrated and most of the customers where in Russia. Chemical industry only could survive on cheap Russian gas which is over. Steel industry is suffering as rest of the world demand is down. One of the bright parts are cheap military hardwear and agricultural industry, but government corruption was destroying both. Going forward I have hard time to see where it is all is going, talking with my friends from there, they are saying it is back to early 90th, and they lived through it and survived before and will survive again with much lower expectations and consumption.