Best of the Week
Most Popular
1.The Brexit War! EU Fearing Collapse Set to Stoke Scottish Independence Proxy War - Nadeem_Walayat
2.London Terror Attack Red Herring, Real Issue is Age of Reason vs Religion - Nadeem_Walayat
3.The BrExit War, Game Theory Strategy for What UK Should Do to Win - Nadeem_Walayat
4.Goldman Sachs Backing A Copper Boom In 2017 - OilPrice_Com
5.Trump to Fire 50 US Cruise Missiles To Erase Syrian Chemical Attack Air Base, China Next? - Nadeem_Walayat
6.US Stock Market Consolidation Time - Rambus_Chartology
7.Stock Market Investors Stupid is as Stupid Goes - James_Quinn
8.Gold in Fed Interest Rate Hike Cycles- Zeal_LLC
9.The BrExit War - Britain Intelligence Super Power Covert War With the EU - Nadeem_Walayat
10.Marc Faber: Euro to Strengthen, Dollar to Weaken, Gold and Emerging Markets to Outperform - MoneyMetals
Last 7 days
What A War With North Korea Would Look Like - 25th Apr 17
Pensions Are On The Way Out But Retirement Funds Are Not Working Either - 25th Apr 17
Frank Holmes : Gold Could Hit $1,500 in 2017 Amid Imbalances & Weak Supply - 25th Apr 17
3 Reasons Why “Spring Forward, Fall Back” Also Applies To Gold - 25th Apr 17
SPX may be Aiming at the Cycle Top Resistance - 25th Apr 17
Walmart Stock Extending Higher - Elliott Wave Trend Forecast - 25th Apr 17
Google Panics and KILLS YouTube to Appease Mainstream Media and Corporate Advertisers - 25th Apr 17
Gold Price Is 1% Shy of Ripping Higher - 25th Apr 17
Exchange-Traded Funds Make Decisions Easy - 25th Apr 17
Trump Is Among The Institutionally Weakest National Leaders In The World - 25th Apr 17
3 Maps That Explain the Geopolitics of Nuclear Weapons - 25th Apr 17
Risk on Stock Market French Election Euphoria - 24th Apr 17
Fear Campaign Against Americans Continues Nuclear Attack Drills in New York City - 24th Apr 17
Is the Stock Market Bounce Over? - 24th Apr 17
This Could Be One Of the Biggest Winners Of The Electric Car Boom - 24th Apr 17
Le Pen Shifts Political Landscape- The Rise of New French Gaullism  - 24th Apr 17
IMF Says Austerity Is Over - Surplus or Stimulus - 24th Apr 17
EURUSD at a Critical Point in Wave Structure - 23rd Apr 17
Stock Market Grand Super Cycle Overview While SPX Correction Continues - 23rd Apr 17
Robert Prechter Talks About Elliott Waves and His New Book - 23rd Apr 17
Le Pen, Melenchon French Election Stock, Bond and Euro Markets Crash - 22nd Apr 17
Why You Are Not An Investor - 22nd Apr 17
Gold Price Upleg Momentum Building - 22nd Apr 17
Why Now Gold and Silver Precious Metals? - 22nd Apr 17
4 Maps That Signal Central Asia Is at Risk of War - 22nd Apr 17
5 Key Steps For A Comfortable Retirement From Former Wall Street Trader - 22nd Apr 17
Can Marine Le Pen Win? French Presidential Election Forecast 2017 - 21st Apr 17
Why Stock Market Investors May Soon Be In For A Rude Awakening - 21st Apr 17
Median US Household’s Wealth Has Declined by 40% Since 2007 - 21st Apr 17
Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefit - 21st Apr 17
U.S. Stock Market and Gold, Post Tomahawks and MOAB - 21st Apr 17
An In Depth Look at the Precious Metals Complex - 20th Apr 17
The Real Story of China’s Strong First-Quarter Growth - 20th Apr 17
3 Types Of Life-Changing Crisis That Make You Wish You Had Some Gold - 20th Apr 17
The Truth is a Dangerous Thing - 20th Apr 17
2 Choke Points That Threaten Oil Trade Between Persian Gulf And East Asia - 20th Apr 17
Gold’s Next Downside Target Is Around $700… Even if It Breaks Up First - 19th Apr 17
SPX May be Completing its Corrective Pattern - 19th Apr 17
Silver Production Has “Huge Decline” In 2nd Largest Producer Peru - 19th Apr 17
Soothing East Asia's Nerves as Trump's Administration Reaffirms US Power in Asia-Pacific - 19th Apr 17
The Brexit War - Article 50 Triggered, General Election 2017 Called - Let the Games Begin! - 19th Apr 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

Superstitious Russians spent 30 billion on Preparing for Apocalypse

Politics / Russia Dec 27, 2012 - 11:52 AM GMT

By: Pravda

Politics

The Russians, who shared the horror of impending apocalypse with the rest of the world, spent 30 billion rubles on the eve of December 21st. The calculations were made by FBK analysts, who examined the data on the structure of trade turnover and services purchased in December. The end of the world did not come, but many people have to deal with its consequences now - the shortage of money.


The hype around the "end of the world" still goes on. There are people, who programmed themselves for apocalypse. They still believe that it is too early to relax, because the end of the world has been pushed back to another day. Some others have been living in bunkers for five days already. A more mercantile and less trusting part of humanity counts the losses from preparing for the doomsday.

Analysts of the Russian audit and consulting company FBK conducted a detailed analysis of the data on retail trade turnover, the volume and structure of paid services in the last month of 2012. As a result, they were able to figure out that the Russians spent a total of 30 billion rubles to prepare for the long-expected doomsday.

The bulk of this amount includes the range of services and products, such as candles, salt, sugar, dry alcohol, buckwheat and stewed pork. The Russians also spent a lot on drugs, including those for the treatment of cardiovascular diseases. The pre-apocalyptic spending of the Russian people was just as absurd as it was curious and even brave. Some of our fellow citizens decided to travel to the heart of Mexico, the home of the Maya, purchasing one-way tickets. Others decided to see the end of the world on paradise islands. The people who were not ready to say goodbye to their life in any part of the world, bought tickets to not so remote places - the bunkers, where they were going to survive the impending disaster.

Many Russians went to special training courses to be able to see the "end of the world" in as real men and women. During such classes, "tutors" advised their "students" should stock up on water, candles and matches instead of electricity. The "tutors" also tried on the role of psychologists and advised citizens to apologize to their friends and family, to pay off debts. Five days after the doomsday, many "students" may have regretted spending their money on such courses. However, their "teachers" and organizers of this business were happy to count the profit earned on superstition.

Insuring companies rub their hands too. The citizens, who decided to insure their lives, organized a nice bonus for insurers on New Year's Eve. Bookmakers also count their profit that they made while expecting the world to disappear.

In total, three percent of Russians were preparing for the end of the world, according to a survey conducted by the All-Russian Public Opinion Research Center (VTsIOM). At the same time, a survey conducted by Levada Center showed that the might-have-been apocalypse pushed approximately 14 percent of Russians to action.

FBK Director of the Strategic Analysis Department, Igor Nikolayev, said that in November this year, "retail trade on the fact made up 1892.7 billion. Judging by the experience of recent years, the December turnover exceeded the turnover in November by 19-20 percent, which is about 2.3 trillion rubles.

These quite conditional calculations led to the figure of 23-24 billion rubles that were allegedly spent on the preparation of the day of December 21st. Nikolayev decided to round this amount to 30 billion rubles saying that many Russians began to get ready for the end of the world before December.

Maria Snytkova

Pravda.ru

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife