[C19fan]

“That’s a Russian peculiarity, a panic can flare up quickly but it won’t go very deep because no one has any savings,” Nigmatullin said. “An inflation spiral comes when people buy goods at a high price, the price goes up, people see this and buy again, and inflation grows very fast. But here there aren’t many savings and not money to pay high prices.”

Friedman is rolling around in his grave. In a sense the guy is right if there is no monetary response to the shock there will be no inflation. But part of what has triggered the collapse of the Ruble is rumors Putin will order the Central Bank to start running the Ruble printing press 24/7 to bail out the banks and Oligarchs. If that happens there will plenty of monetary fuel to keep inflation going.

[familyop]

While the Dow goes over 18,000.

[eyeamok]

Just the usual and expected circumstances of a debt based monetary system, nothing to see.

[GeronL]

foreign companies with a brain would have stopped selling stuff until the rate stabalised

[bgill]

That new tv isn’t going to feed them for long. Better invest in their pantries.