An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
“Despite what you read in the papers, the Russian economy isn’t all about commodities. While oil and gas accounted for 40pc of GDP in 2003, last year the figure was 17pc. Russia’s service sector, pretty much non-existent under the state-planning of yesteryear, has grown like Topsy and is now three times bigger than its commodity sector.”http://www.telegraph.co.uk/finance/comment/liamhalligan/9499282/Russia-joins-the-global-club-as-economy-slows.html
What's their private debt level like?
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