Russia’s Economic Death Spiral continues as more Rate Hikes look to Trigger Bankruptcy Tsunami
In what appears to be a calculated but catastrophic gamble, Russia’s Central Bank this week plans to jack up its key interest rate from today’s already crushing 21% to a further punishing 25%, sparking fears of impending economic collapse. Normally towing the party line, even the Putin regime’s Pro-Kremlin economists are now warning that the move could unleash a tidal wave of corporate bankruptcies, threatening the survival of entire sectors of the Russian economy.
