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"Russia’s 21st century prospects are looking pretty good."
Dude, Russia is in the same deep shite, if not deeper: http://exile.ru/print.php?ARTICLE_ID=8510&IBLOCK_ID=35
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Predictions on what 2008 will bring?
Here are my guesses...
- cascading counterparty defaults
- credit-deflation despite inflationary monetary policy
- recession is out in the open, MSM turns sour
- YOY drop in the fortress
There are also a few way-out-there possibilities that I would not be surprised by...
- banks forced to mark-to-market, some banks choke on being force-fed their own toxic waste
- BoJapan eases rates again in co-ordinated CB move, re-igniting carry trade
- HARM likes the Bay Area and decides to settle down here... :-)
SP