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Global Financial Crisis Hits Mongolia's Grasslands

npr.org — The IMF has declared the worst of the global recession over, but that's not the case in Mongolia, where the financial crisis hit later than in the U.S. And a plunge in commodity prices - especially metals and wool - is having a huge impact.

Who dugg this? Made popular Sep 8, 2009

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14 Comments

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  • inactive, on 09/08/2009, -0/+14They should form a horde or something.
  • omgwtflawl, on 09/08/2009, -0/+9That's what they get for trying to knock down my Schitty wall!
  • EMFK, on 09/08/2009, -0/+9Here's hoping that Dalantai Khatanbaatar and other Mongolians will be able to bounce back from this latest financial crisis.
  • nahsrocketeer75, on 09/08/2009, -1/+8Heard this on NPR this morning and the reporter said that people who buy cashmere sweaters are contributing to the problem. I don't wear sweaters. Can't pin this one on me.
  • aznhomig, on 09/08/2009, -0/+5You don't want the Mongols to be bored and pissed off lest you want a repeat of the 13th century!
  • doctechnical, on 09/08/2009, -0/+2In this economy it's getting so you can't afford to crush you enemies, see them driven before you, or even hear the lamentations of their women.
  • pintocat, on 09/08/2009, -0/+2I never knew there was such a thing as "Subprime Herder Loans".
  • murocan, on 09/08/2009, -0/+2What a cool ***** name!!!
  • marinist, on 09/09/2009, -0/+1Khaaan! Bank cannot be trusted.
  • immatellyouwhat, on 09/08/2009, -0/+1DAMN YOU MONGARI...oh wait.
  • sndream, on 09/09/2009, -0/+1Don't worry, I am pretty sure they can loot most of Euroasia to get money.
  • JobConcierge, on 09/08/2009, -0/+1this is a sad story. anyone else try mongolian lamb before? it's delicious.
  • craftyguy, on 09/08/2009, -1/+1Maybe I'm missing something, but how is buying cashmere HURTING these people? The article said that their primary source of income is selling cashmere. Even if he only makes $350 on cashmere (instead of $700), that's $350 more than he'd have if people quit buying cashmere...
  • fadetoone, on 09/08/2009, -1/+1Wow, I didn't think Intelligent Mail Filters were *that* intelligent... I stand corrected!

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