From The Interpreter:
Staunton, VA, January 12, 2017 - While the attention of Russians and others around the world have been diverted – and one should ask be asking what they have been diverted from and why – ten pieces of bad even disastrous economic news have come out from or about Russia in the last 24 hours alone....MORE
Here is the list:
1. The World Bank says that Moscow now lacks the money to fulfill its social contract with the Russian people.
2. Moscow’s Higher School of Economics says that the real incomes of Russians fell for the 25th straight month.
3. Deputy Prime Minister Olga Golodets says almost five million Russians are receiving the minimum income in Russia.
4. More than 1.5 million highly qualified Russians are now working abroad.
5. Ten percent of Russians are again receiving at least part of their pay under the table, meaning that it is not taxed and that it will not be used for calculating their pensions.
6. Given falling incomes, Russians are drinking, eating and travelling less, substituting potatoes for meat and fish and having consumption patterns that compare unfavorably with urban Russians at the end of the tsarist period....