Re: AVERAGE RUSSIAN IS 8 TIMES POORER THAN AVERAGE EUROPEAN
and/or www.mantra.com/jai
Jai Maharaj, Jyotishi
Om Shanti
In article <4b2912bc$0$5341$bbae...@news.suddenlink.net>,
"harmony" <a...@hotmail.com> posted:
>
> tambukawala bengalis, arindam's friends, and daroowala keralias still don't
> get it, do they?
> Dr. Jai Maharaj posted:
>
> > Average Russian is 8 Times Poorer Than Average European
> >
> > By Pravda
> > The Market Oracle
> > Sunday, December 13, 2009
> >
> > The latest research indicated that the size of the average European's
> > savings account is seven times greater than that of the average
> > Russian. It would seem that the reasons are obvious -- Russians are
> > seven times poorer than residents of the European Union. However,
> > it's only a part of the picture. Sociologists say that 70% of
> > Russians do not have bank deposits and 50% of them have no savings at
> > all. Therefore, the average Russian is 8 times poorer than the
> > average European.
> >
> > According to StatBanker, a financial statistics agency, the overall
> > portfolio of funds deposited in the EU banks as of the third quarter
> > of 2009 was 2091.2 billion Euros. Since the crisis reverberated in
> > Europe, Europeans had fewer opportunities to save money, and the
> > portfolio decreased by 8% within the last year, or 173.2 billion
> > Euros. Therefore, the average European has 6,378 Euros in a savings
> > account. If children and retired people are excluded from the
> > calculation, the average savings account of an economically active
> > European is 14,313 Euros.
> >
> > According to the same agency, the overall portfolio of funds
> > deposited by Russians is equivalent to 152 billion Euros.
> > Interestingly enough, the decrease in savings in Russia is comparable
> > to that in Europe and was 8%, or 11.8 billion Euros. Simple
> > calculations show that the average bank deposit of a Russian citizen
> > is 6 times smaller than that of a European, and amounts to 1,071
> > Euros. If only economically active group is considered, than the
> > average deposit is 2,153 Euros, i.e., seven times less than in
> > Europe.
> >
> > Deposit rates in Russia are three times higher than in Europe. Yet,
> > it is twice as profitable to deposit funds in the EU as it in Russia.
> > For example, the weighted average interest rate for deposits made in
> > Europe in September was 2.92%, whereas in Russia it was 9.25% for
> > Ruble deposits and 5.35% for Euro deposits.
> >
> > It is obvious that Russian banks offer a better rate. However,
> > chronic Russian inflation changes the picture. Effective interest
> > rate in Europe in September was 2.62%, while in Russia it was only
> > 1.15%. Although the interest rate is not that high in both cases, the
> > European one is still twice as large as the Russian one.
> >
> > In this research, the average working European means a person who has
> > a stable source of income and some bank deposit. It is not that
> > simple with Russians. Although analysts like to say that Russians'
> > trust in banks is growing, Russians still prefer to keep their money
> > "under thier mattress."
> >
> > According to a poll conducted in September by "Public Opinion" fund,
> > 70% of Russians do not have a bank account at all. It would not be
> > right to name poverty as the only reason. Mikhail Dyagilev, Director
> > of the Institute for Globalization Issues, believes that one of the
> > reasons is a fear to lose money to a bank. "People don't trust banks.
> > They feel very vulnerable and are afraid of swindlers and even simple
> > technical errors, "he told to Novye Izvestiya newspaper.
> >
> > Yet, earnings still matter the most. According to the Russian
> > Statistics Bureau, as of the second quarter of 2009, the average
> > monthly income of a Russian resident was approximately 17 thousand
> > rubles. The average income of a European is 5.3 thousand dollars,
> > while Russians make a little less than 600 dollars a month. This
> > means that the average Russian is 8 times poorer than the average
> > European. Mikhail Dyagilev thinks that the gap might be even bigger.
> > "Russian people are very poor. According to a research conducted by
> > sociologists, 10% of Russians do not have enough money to buy food.
> > Middle class decreased to 12% within the last year, and we are just
> > talking about the ability to buy regular consumer goods. 78% of
> > population is just poor. People simply don't have money to save."
> >
> > The last data received by sociologists proves this to be true.
> > According to Romir research center, almost half of all Russians (48%)
> > do not save money at all. Sergey Smirnov, Director of the Institute
> > for Social Policy, thinks that it has to do with the fact that a
> > tradition to save existed in Europe for a long time, whereas in
> > Russia it is nonexistent. "Our people spend all they earn on their
> > day-to-day needs," explained the expert. He said that the gap between
> > wealthy and poor in Russia is huge. "I do not think that we will be
> > able to reach European rates in foreseeable future," Smirnov said.
> >
> > Noviye Izvestia
> > Pravda.ru
> >
> > More at:
> >
> > http://www.marketoracle.co.uk/Article15771.html
> >
> > Jai Maharaj, Jyotishi
> > Om Shanti
> >
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harmony
too bad he had too much from volga.
<use...@mantra.com and/or www.mantra.com/jai (Dr. Jai Maharaj)> wrote in
message news:20091216Cy641L5Y0m9BeWnl3903l68@Fhnf7...
and/or www.mantra.com/jai
Jai Maharaj, Jyotishi
Om Shanti
In article <4b2aeff9$0$5354$bbae...@news.suddenlink.net>,
"harmony" <a...@hotmail.com> posted:
>
> he has been sickled and hammered pretty good.
> too bad he had too much from volga.
> Dr. Jai Maharaj posted: