Re:HN call for help: Thousand of IT specialists flee Russia ...
by veganhouseDJ on Friday March 04, 2022 @02:22PM
(#30559156)
The whole Russian economy is going to collapse. Gazprom is down 87% in Europe since the Russian markets were open. That is a giant energy company with oil up huge.
The ruble took another massive hit again last night. Any Russian financial company is probably already wiped out.
I wouldn't be shocked if the market doesn't open next week, it is not reopening and everything is going to have to be nationalized.
We have never seen this before with a modern economy. In the 1929 market crash 25% of the US population were still farmers. Russia is 5% farmers. Most people are directly exposed to the fragility of the modern economy.
The ruble took another massive hit again last night. Any Russian financial company is probably already wiped out.
I wouldn't be shocked if the market doesn't open next week, it is not reopening and everything is going to have to be nationalized.
We have never seen this before with a modern economy. In the 1929 market crash 25% of the US population were still farmers. Russia is 5% farmers. Most people are directly exposed to the fragility of the modern economy.