Midknight Review -- new and revised: Over the weekend, Russia's Central Bank raised prime interest rates from 10% to 17% in a last ditch effort to save that economy. Here is the rest of the story:

Update: This headline tells us all that something very bad is happening in Russia: APPLE Halts Online Sales in Russia as Ruble Craters... I want to cheer, but I don't know if this foretells bad times for the U.S. As things appear, maybe not.

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From the Editor: I admit that I am not as much "in the know" as I would like, as to economic matters (but I am way ahead of the clown we have sitting in our WH). Still, I know that the shocking rise in the prime, in Russia (from 10% to 17% overnight) is related to a 650 pt rise in "basis points." If that does not stop the ruble's free fall against the dollar, the following tells us what is about to happen. Keep in mind, that Putin is now, offically, a wounded animal, and, if you have been around large wounded stock, you know they are most to be feared during that time ~ editor.

Russia has lost control of its economy and may be forced to impose Soviet-style exchange controls after "shock and awe" action by the central bank failed to stem the collapse of the ruble.

“The situation is critical,” said the central bank’s vice-chairman, Sergei Shvetsov. “What is happening is a nightmare that we could not even have imagined a year ago."

The currency crashed to 100 against the euro in the biggest one-day drop since the default crisis in 1998 as capital flight gathered pace, despite a drastic rise in interest rates to 17pc intended to crush speculators and show resolve.

Yields on two-year Russian bonds spiraled to 15.36pc, while credit default swaps are pricing in a one-third chance of a sovereign default. The shares of Russia’s biggest lender, Sberbank, fell 18pc.

Neil Shearing, from Capital Economics, said the spectacular failure of the rate shock may bring matters to a head. “If a rise of 650 basis points won’t do the job, we are near the end. That means stringent capital controls,” he said. Read the full article in the U.K.'s Telegraph, here.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Over the weekend, Russia's Central Bank raised prime interest rates from 10% to 17% in a last ditch effort to save that economy. Here is the rest of the story:

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