Ruble Loses Its Value

Nothing Vladmir Putrid…er, uh, Putin is able to do seems able to stop the plummeting value of the ruble recently. It has lost 36% of its value against the Euro and 42% against the dollar. This has made it a bit more difficult for Putr..er, Putin to “take over” more and more former Russian “colonies” in his effort to return Russia to its former “Soviet Union” glory. The Russian Central Bank has taken action to stop the slide, but its action was only minimally effective, only slowing it some. The main problem for Russia is that, even though it is no longer communist, it is still laboring under SOCIALISM, a close cousin of communism, neither of which produces new wealth, and instead is based on stealing the wealth earned by others. Lower gas prices, coupled with the effect of the sanctions placed on them for their intervention in the Ukraine, haven’t helped them in their “recovery.” (Live Trading News)