Essentially, the West took down Russian finances in one day. The situation is likely to become worse than in 1998 because now there is no positive end. All Russia's capital markets appear to be wiped out & they are unlikely to return with anything less than profound reforms.
This is for anyone who waits until the last minute to get things done. (You know who you are.)
Watch Tim Urban's full TED Talk here: https://t.co/WQRfrn9pp1