WashPost reports: "Russian Economy Minister Elvira Nabiulliana said a booming consumer market and rising investments will protect the country from the effects of problems in the subprime mortgage market in the United States." Funny how this is doesn't seem to jive with the forcasts of economists who actually deal in reality.
"Economists have said the fast-growing region faces a slowdown following the financial shockwaves reverberating around the globe." While Kazakhstan and Ukraine will take the largest hits, the World Bank has forcast that falling energy prices and investment inflows will place heavy downward pressure on Russia's consumers and financial markets. But what does the World Bank know. That kind of imperialistic anglosaxon economic theory doesn't apply to New Russia.
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