An Epitome of A Full Scale Bear Market:: Russia

Russia's financial market seems to exhibit what we might call a full scale bear market.

chart courtesy of Danske Bank

We previously featured part of this in our previous post " A Government Cardinal Sin That Results To A Bear Market? War!"

Collapsing equity and currency markets, soaring interest rates as funds flee, and declining currency reserves hallmark a true bear market. Major contributing variables: Russia's recent military activities in Georgia, falling oil/energy/commodity prices, global deleveraging and rising risk aversion.