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Sunday, November 18, 2007

Annals of Russian Economic Apocalypse

"The time has come," the Walrus said, "To talk of many things:
Of shoes--and ships--and sealing-wax--
Of cabbages--and kings--
And why the sea is boiling hot-- And whether pigs have wings.

In the past week alone, Russia has experienced
5.5% (low end) to 33% (high end) price inflation in its wholesale potato markets. Similar price jolts have occurred in the cabbage market, in both cases (the most basic food staples in Russia) the overall inflationary trend in the country being dramatically worsened by poor harvests.

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