My final post for this semester OR Finacial Crisis in RUSSIA

In this post i would like to conclude and sum up everything what i have written before

First of all, i would like to say that this year 2008 was very hard for every country due to the Global Financial Crisis. The crisis occured very suddenly for people, like me,who were not very involved with Financial markets and their situation. I never thought this would happen, but unfortunately, as many specialists claimed , the crisis was expected for a long time and inevitable.

In Russia , the situation is getting worse day by day, in a way that people notice it in everyday life, such as change (fall) in prices for luxury commodities, dramatic slip in sales and just overall population's shock and preparation for the "worse".

There are many programmes on russian TV that talk about crisis, where as some presenters claim that it is not going to influence Russian economy too much, on the other hand, others state that the crisis can lead to great depression, like in US in 1929 and ruble's default in 1998.

People are anxcious and do not know what to expect, but as according to famous economist Andrey Cherepanov, russians should not worry too much because of ruble's recent depreciation. He explained that our Government will not allow the default, however also suggested that people can transfer rubles into japanese yens or british pounds in order to be more sure and safe. Again,

controversy from leading economist, but it doesnt surprise me, because i am used to things like this.

In the end i would like to mention, that some experts are saying that crisis is going to be very long and really bad for majority of people, that can lead to depressionin its turn. Others say that it is going to hit its bottom, the lowest point after New Years, but then closer to the summer, the situation must stabilize.

Nobody knows, how it is going to be for sure, but all we can do is hope for the best and cut down expences for a mean while.

I wishGood Luck to everyone!!!!