{"id":3087,"date":"2014-12-16T13:58:44","date_gmt":"2014-12-16T18:58:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3087"},"modified":"2014-12-16T13:58:44","modified_gmt":"2014-12-16T18:58:44","slug":"russia-prepares-for-gdp-surge-as-consumers-scramble-to-spend-their-plunging-rubles-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3087","title":{"rendered":"Russia Prepares For GDP Surge As Consumers Scramble To Spend Their Plunging Rubles | Zero Hedge"},"content":{"rendered":"

Russia Prepares For GDP Surge As Consumers Scramble To Spend Their Plunging Rubles | Zero Hedge<\/a>.<\/p>\n

In the most ironic twist of all amid the “currency crisis” enveloping Russia, we suspect the world’s central bankers will be looking on jealously as\u00a0The CBR manages to achieve precisely what The BoJ and The Fed are desperate to achieve<\/strong>. In raising inflation expectations,\u00a0The FT reports<\/a>, Russians arehurriedly turning their depreciating Rubles into jewelry, furniture, cars, and apartments<\/strong>\u00a0as the currency’s collapse prompts a shopping spree that will likely lead to a\u00a0surge in GDP<\/strong>. As one anxious shopper noted,\u00a0“none of us know what\u2019s happening. We\u2019re all worried that the currency will keep falling,” and so “it\u2019s time to buy furniture!”<\/em>\u00a0And sure enough,\u00a0shopping centers are currently experiencing a spectacular rush<\/strong><\/a>.<\/p>\n

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As The FT reports,<\/em><\/a><\/p>\n

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Russians hurried to change their savings and pensions into dollars and euros while also stocking up on furniture and jewellery as the rouble\u2019s collapse accelerated.<\/strong><\/p>\n

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Their mounting concern was reflected on Tuesday morning in the red lights of the currency exchange booths that dot the city, which were ticking over to show ever weaker rouble rates.<\/p>\n

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…<\/p>\n

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\u201cI took out some of my pension and I want to change it into dollars,\u201d said Galina, a retiree, who declined to give her surname. \u201cNone of us know what\u2019s happening. We\u2019re all worried that the currency will keep falling.\u201d<\/p>\n

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<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Russia Prepares For GDP Surge As Consumers Scramble To Spend Their Plunging Rubles | Zero Hedge. In the most ironic twist of all amid the “currency crisis” enveloping Russia, we suspect the world’s central bankers will be looking on jealously as\u00a0The CBR manages to achieve precisely what The BoJ and The Fed are desperate to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[162,1036,426,693,694],"class_list":["post-3087","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumption","tag-currency-collapse","tag-inflation","tag-ruble","tag-russia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3087"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3087\/revisions"}],"predecessor-version":[{"id":3088,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3087\/revisions\/3088"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}