Even Putin Gets It!

aaronman · Feb 3, 2009

We live in a strange time when Russia understands the benefits of free-market enterprise better than Americans:

Putin Speaks at Davos

I just want to remind you that, just a year ago, American delegates speaking from this rostrum emphasized the U.S. economy's fundamental stability and its cloudless prospects. Today, investment banks, the pride of Wall Street, have virtually ceased to exist. In just 12 months, they have posted losses exceeding the profits they made in the last 25 years. This example alone reflects the real situation better than any criticism.

The time for enlightenment has come. We must calmly, and without gloating, assess the root causes of this situation and try to peek into the future.

...Add to this colossal disproportions that have accumulated over the last few years. This primarily concerns disproportions between the scale of financial operations and the fundamental value of assets, as well as those between the increased burden on international loans and the sources of their collateral.

The entire economic growth system, where one regional center prints money without respite and consumes material wealth, while another regional center manufactures inexpensive goods and saves money printed by other governments, has suffered a major setback.

...This means we must assess the real situation and write off all hopeless debts and 'bad' assets. True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalization, bonuses, or reputation. However, we would 'conserve' and prolong the crisis, unless we clean up our balance sheets.

...In the 20th century, the Soviet Union made the state's role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.

Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.

Unfortunately, we are increasingly hearing the argument that the buildup of military spending could solve today's social and economic problems. The logic is simple enough. Additional military allocations create new jobs.

At a glance, this sounds like a good way of fighting the crisis and unemployment. This policy might even be quite effective in the short term. But in the longer run, militarization won't solve the problem but will rather quell it temporarily. What it will do is squeeze huge financial and other resources from the economy instead of finding better and wiser uses for them.
Click to expand...

Amazing!

willisvillis · Feb 3, 2009

Indeed. I believe it's gubment intervention that got us into this mess anyway.

Deutschbag · Feb 3, 2009

Of course the Europeans are calling for more interference in the markets......

I call Britain is the next Iceland!

http://www.foreignpolicy.com/story/cms.php?story_id=4648&page=0

IGOTJOINTS4YA · Feb 3, 2009

Of course Putin would be a proponent of free markets, the old soviet model was one of Great Britain. That Union the USSR had was a fancy word for for colonies, and if you walked into a meeting of USSR leaders it would have graphs and annual reports just like those of big corporations. The old soviet model was one of corporatism.

I would like to note on Putin's resume other than being xKGB is being a billionaire, so he has an idea of finance.

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Even Putin Gets It!

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Even Putin Gets It!

aaronman n'wah

willisvillis Smokin&#39; chokin&#39; muffucka

Deutschbag Reefer & Beer Gold Member

IGOTJOINTS4YA Banned

Is it even worth it?

Is it even worth it?

Bush gets owned by Putin

Is it even possible?

Does it even exist???

Share This Page

willisvillis Smokin' chokin' muffucka

Deutschbag Reefer & Beer
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