Time – by Justin WorlandGoogle is now more valuable than the entire Russian stock market. Russia’s stock market is now worth $325 billion while Google is valued at more than $340 billion, according to Bloomberg.
The news comes as Russia’s currency, the ruble, continues to stumble under pressure from declining oil prices and western sanctions. Russia’s gold reserves have also declined to their lowest point since 2009.
Google joins an elite list of companies, including Exxon Mobile, Microsoft and Apple, worth more than the entire Russian market.
http://time.com/3639596/google-russian-stock-market/#3639596/google-russian-stock-market/
Which just proves how ridiculously stupid the US stock market is, where a piece of software, which, whilst useful is neither indispensable or even unique, is valued higher than all the natural resources of Russia.
Where the revenue stream from advertising in a single product is rated higher than the productive capacity of a mighty country.
The world is stark raving mad!
So what? Russian corporations are relatively young, and few in number, and Google’s “value” could plummet in a heartbeat. These numbers are meaningless, and anything priced in U.S. dollars is subject to radical fluctuations because of rigged markets and a collapsing currency.