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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.

He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.

In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.

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Just a month ago we predicted incoming crisis on the Russian real estate market as a follow up of the global financial crisis. This crisis is already here; the Russian financial market lost its stability, more than almost any other in the world; the stock exchange had to stop trading several times within a very short period; the global oil prices that sustained the economic growth in Russia had fallen dramatically; for the first time in years the Russians are panicking and looking for political alternatives to the current regime. Within a month Russia has turned from the economic envy of the world into a schizophrenic, trying desperately to understand what's happening around.

A month ago Russia and the real estate market were looking downward; who could predict that barely within a month the situation will slip out of control. Russia lost almost $300 billion with the collapse of its financial markets. Its stock exchange was hit much worse than New York or London. The government and the central bank had to pour almost $100 billion just to stabilize the national currency. Tens of billions of dollars fled the country. Once the untouchable financial oligarchs lost billions each, some more than ten billion. Several projects, including business buildings in Moscow, are frozen for the lack of credits and demand. The country that defied the economic gravity for almost a decade turned within a couple of weeks into a person that cannot understand what's happening around.

It's too early, however, to predict the end of the current political oligarchy. This regime needs much more stress than a short although a painful crisis in order to be taken out of the 'railroad'. The Russians are looking for political alternatives, but the personalities that embody the change, any change, are either abroad or in prison or dead. The oil may be down, but it's still far above the level to bring fresh money to keep intact those in office. The oil oligarchs, those that are still in the business, will now pay for their policy of unconditional support of Kremlin since 2000. The government will take as much as needed from their pockets to pay for lavish spending programs, for infrastructure projects, and for military might. And there is nobody to stop it, the political opposition, partly thanks to these same oligarchs, is nonexistent.

Russia profile:

• Area: 17,075,200 sq km.
• Population: 140.7 million (July 2008 est.).
• Population growth rate: -0.474% (2008 est.).
• Net migration rate: 0.28 migrant(s)/1,000 population (2008 est.).
• Life expectancy at birth: 65.94 years.
• Total fertility rate: 1.4 children born/woman (2008 est.).
• GDP real growth rate: 8.1% (2007 est.).
• GDP per capita: purchasing power parity of $14,700 (2007 est.).
• Main trading partners: EU countries, China, Ukraine, Turkey, and Japan.
• Internet users: 26 million (2008).

(Source: CIA The World Factbook 2008)

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