Best of the Week
Most Popular
1.Is the Stocks Bull Market Over? Dow Trend Forecast into End January 2015 - Nadeem_Walayat
2.Gold and Silver Stocks Apocalypse Now, Bear Market Review - Rambus_Chartology
3.NHS Baldrick Plan to Spread Ebola Across UK - Sheffield, Newcastle, Liverpool, London Hospitals - Nadeem_Walayat
4.Ebola Terror Threat Suicide Bio-Weapons Threatens Multiple 9/11's, Global Plague - Nadeem_Walayat
5.Second-Richest Man Says Mortgages Now a "No Brainer" - Dr. Steve Sjuggerud
6.Gold And Silver Still No End In Sight - Michael_Noonan
7.NHS Baldrick Plan to Spread Ebola Across UK - Sheffield, Newcastle, Liverpool, London Hospitals - Nadeem_Walayat
8.The Gold Bug is Set to Bite Back - EWI
9.How Alibaba Could Capitalize on the EBay-PayPal Split - Frank_Holmes
10.The Consequences of the Economic Peace - John_Mauldin
Last 5 days
How Will We Know That the Gold & Silver Price Bottom Is In? - 21st Oct 14
Is Gold as Dead as Florida Hurricanes? - 21st Oct 14
First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45% - 21st Oct 14
The Similarities Between Germany and China - 21st Oct 14
The REAL Reason Why the Stock Market Turned Down - 21st Oct 14
Petrobras is a 'Scheme, Not a Stock' - 21st Oct 14
Stocks Bear Market Indicator Is Off the Mark - 20th Oct 14
Stock Market Ideal Turning Point is at Hand - 20th Oct 14
Investors Quit Complaining, The Environment is Perfect Right Now - 20th Oct 14
Ebola Armageddon Could Trigger a Rebirth in Gold and Silver Prices - 20th Oct 14
Gold vs Euro Risk Due To Possible Return of Italian Lira - Drachmas, Escudos, Pesetas and Punts? - 20th Oct 14
Stocks Rebounded Following Recent Sell-Off, But Will It Last? - 20th Oct 14
U.S. Responsible for West Africa Ebola Outbreak Says Liberian Scientist - 20th Oct 14
Stock Market Intermediate B Wave has Started - 20th Oct 14
Gold Stocks Analysis – FNV, CG, NCM, SBM - 19th Oct 14
Stock Market Primary IV Wave Counter Trend Rally - 19th Oct 14
Gold And Silver - Financial World: House Of Cards Built On Sand - 18th Oct 14
Anatomy of a Stock Market Sell-Off - 18th Oct 14
Why OPEC Has Declared an Oil War on Russia - 18th Oct 14
Gold and Silver Extreme Shorting Peaks - 18th Oct 14
Bitcoin Price Fall to $350? - 18th Oct 14
Tesco Supermarket Crisis Worse To Come as Customers Vanish! - 18th Oct 14
Sheffield Roma Crisis School Place Application's Fraud Perfect Storm - 17th Oct 14
Stock Markets, Commodities and Indicators - 17th Oct 14
“Save Our Swiss Gold ” - Game Changer For Gold? - 17th Oct 14
How to Trade the Ebola Stock Market Sell-Off - 17th Oct 14
When... Not if... Crude Oil Price Drops Below $70 - 17th Oct 14
Either You're The Butcher or You're The Cattle - 17th Oct 14
Gold Benefits from Market Uncertainty - 17th Oct 14
Stock Market Pullback Underway, Euro downside, Commodities - 17th Oct 14
Stock Market Seven Year Cycle and A Correction Ahead? - 17th Oct 14
Three Ways to Play Uranium: Top Stock Picks - 17th Oct 14
America Flirts With Deflation - 17th Oct 14
Why the Fed Should Consider Delaying the End of QE - 16th Oct 14
Gold Prices Since 9-11 - 16th Oct 14
The Inflation Imputation, Dear Saver, May You RIP - 16th Oct 14
Flight To Safety - Gold Rises As Stocks, European Bonds Sink - 16th Oct 14
The March Of History And The End Of Nations - 16th Oct 14
Stocks Bear Markets Move Fast and Are Intensely Emotional - 16th Oct 14
Stocks Got Their Piece – Now It’s Our Turn - 16th Oct 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Stocks Epic Bear Market

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

© 2005-2014 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

Free Report - Financial Markets 2014