26 March 2009
Unfolding in Russia is a similarly damaging economic crisis such as that sweeping through most other countries in the world. It has been especially problematic in Russia because of the economy's reliance on the export of oil to generate rubles. Still, Russia had manged to accumulate a large horde of monetary reserves over the last few years, and that should help. There was an article this week in USA Today that reported on a government program that would aid the many craftsmen who make Matryoshka (nesting) dolls, since no one seems to be buying the crafty little wodden dolls these days. Well, the government will and then stockpile them. The aid program is very similar, in a way, to what the US government is aiming to do with its stimulus package.