Russian Economists Spiraling As The Market Seems To Crash

Alexander Butmanov, a Russian economist, heralded the demise of the national stock market while on live television, stating to the shellshocked host that he would be just going back to his previous job, playing Santa Claus.

Journalist Peter Liakhov put out a tweet containing a part of a video clip of a segment that was broadcast across Russian business news channels sporting the caption, “A snapshot of the Russian economy: an investment expert goes live on air and says his current career trajectory is to work as ‘Santa Claus’ and then drinks to the death of the stock market. With subtitles.”

“With me in the studio today is Alexandre Butmanov” began host Elina Tikhonova, introducing the guest as an “economist, founder of the investment group ‘Allies,’ and expert on stock market strategies.”

“Alexander, hello,” stated Tikhonova, who went on to state, “Greetings. Good day. I am not saying anything.”

“Yes, we are all at a loss for words now,” agreed the host, asking, “Are stock market strategies outdated now, or do you still hope to remain in the profession?”

“Worst case scenario, I’m going to work as Santa Claus, as I did 25 years ago,” stated Butmanov.

“But that’s only once a year,” answered Tikhonova.

“Excluding jokes, let’s do this quickly,” stated Butmanov, dipping out of frame only to drop back in seconds later sporting a green glass bottle. “I send regards to Sergei Usychenko, who drank 12, 13 years ago to the death of the stock market.”

“Today, I’m drinking carbonated water,” he announced to the world as he cracked open the bottle. “Dear Stock Market, you were close to us, you were interesting. Rest In Peace, dear Comrade.”

Butmanov went on to drink from the now open bottle, sparking questioning glances from the host.

“I’m not going to comment on this stunt because I don’t want to believe it,” stated Tikhonova incredulously.

The national stock market of Russia is currently floundering against the weight of the heavy sanctions being imposed primarily against the financial sectors such as Russian banks and many other financial institutions, all of which are happening as a result of the full-scale invasion being carried out by Russia against Ukraine.

As reported by Business Insider:

Russia’s biggest bank plunged as much as 95% on the London stock exchange Wednesday and other companies crashed by similar amounts as the war in Ukraine and ensuing sanctions caused investors to dump the country’s assets.

Sberbank, which has more than 135 million customers, plunged to as low as $0.01 Wednesday morning, having stood at $16.12 at the start of the year. The company’s depository receipts — certificates representing shares — are listed in London, although its main listing is in Moscow.

The lender said Wednesday that it had decided to withdraw from the non-Russian European market after facing “an exceptional outflow of funds.”

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