From Russia With Love

I said in my last post on Russia that it was all getting a bit Cold War. Now it seems they're back in space and developing the capacity to take out enemy satellites - http://on.ft.com/1xf4h3N 

Hard to get much more Cold War than that. Fortunately history teaches us that these sort of acts - unsustainable spending by a paranoid state - are often the final hurrah before the state concerned collapses. Just as long as they don't decide to fire off a few nukes before they implode I think we can safely ignore them.