All right, Alexander, let's do a show on the Russian economy. Every now and then, we like to focus in on the Russian economy and see how it's progressing along and how is it progressing along. The ruble.

The ruble was down, then it was up, bounced back. It lost a bit. I mean,

everyone is so hyper-focused on the rubble. Yes. But there's a lot more to focus on when it comes

to the Russian economy. A lot more important things. The ruble is the least part of the story.

I mean, the first thing to say is that we are in the process now in Russia

of a very, very, very major investment surge in industrial production.

The manufacturing output is now up 7% apparently in the year overall.

In some sectors, it's growing much faster than that.

And I'm talking now about the civilian economy, by the way, the civilian manufacturing sector, not the military side of things, but the civilian manufacturing

sector is surging. Some sectors are now registering double-digit growth. Some of them, you know,

absolutely stunning growth figures. The electronics are growing at about 50%. You know%. It's a huge investment surge.

We're also seeing a big increase in surge in services,

in consumer sales, that sort of thing.

And over the last two months,

over August and September, the economy was growing at a GDP growth rate of over 5%. Now, all of that, however, this incredible search

is causing overheating. And what we're seeing is that inflation has gone higher than the

central bank likes and the government likes. And Putin called together all the various

officials yesterday, or the day before yesterday. And the central bank is now trying to cool the economy

down further, and they're trying to, and they've had to jack up interest rates to do that.

Which is, by the way, what a central bank should try, should do. When inflation starts to take

off, you nip it in the bud quickly by increasing interest rates.

Now I don't think this is going to bring the economy to a complete stop or anything like that.

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