BCIM - Russia In Financial Crisis Ruble Collapses Central Bank Hikes Rates U.S. Stocks Shrug

• Russia imports large amounts of consumer goods, from cars and consumer electronics to food, and a ruble collapse guarantees a massive spike in consumer price inflation for people who earn their living in rubles.
• A major disruption of Russia’s exports of crude oil, natural gas, metals, and other commodities could raise prices of commodities further, which could further raise inflation pressures in other countries - especially in Europe, where much of Russia’s energy exports are headed.
• Stocks in the US are coming off the biggest stock market bubble ever, fueled by $4.7 trillion in Fed money-printing in 23 months. Now the stock market has an additional thing or two to worry about, and is still in total bubble territory, with lots of air space underneath it.

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