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.
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Wednesday, March 2, 2022
Value of Russia Assets
Globally this is an insignificant value of assets to have to mark down to zero...
It's insignificant for both sides to write the value out to zero of anything held in the other zone.
ReplyDeleteUltimately the West has defaulted on its debt to Russia. And Russia will make the necessary bookkeeping adjustments and carry on.
That sends a very clear signal to anybody who owes the West (hello Turkey) that they can just do the same.
The world has been bifurcated, and all that does is put prices up.
I wouldn’t say China/Russia/NorthKorea/Iran is bifurcation Neil… iow it’s not 50/50 split…
ReplyDeleteUS is bifurcating 50/50 internally but that is domestic issue…
Russia turning into another North Korea is no big deal… they don’t have anything anybody really needs… nobody really wants to go there, etc..
ROW can do very well without Russia… will take a year…
Well, no, Matt -- there is the Russian wheat that Mike Norman talked about. Biggest producers in the world with Canada, US, and Ukraine following.
DeletePersonally, I am a rye guy myself :)
BTW the market cap of XOM alone has risen more than this same 150b since Biden went in and imposed Democrat ESG policies…
ReplyDeleteFed allowing all the “inflation!” speculation has resulted in over half of this amount of loss in US bank assets alone… so far…
It’s peanuts…
Too many carbs in wheat… and the gluten is an inflammatory… rice is better…
ReplyDeleteWhat do you put in stuffed grape leaves?
Why can't I find Rice Crispies cereal?
ReplyDelete