Is Vladimir Putin more American than Obama
OH MY GOD. I recoiled in horror when I read this.
Vladimir Putin, the de-facto dictator of the ex-Soviet Union, apparently understands free market capitalism, the role of the entrepreneur, the dangers of deficit spending, and the limitation of State power more than our own government, be it Obama or Bush or McCain or Pelosi.
Below is an excerpt of his speech at the Davos World Economic Forum. I have linked to the full text above. The world has officially turned upside down, comrades.
The second possible mistake would be excessive interference into the economic life of the country. And the absolute faith into the all-mightiness of the state.
Of course, the role of the state becomes more direct during crises – it is a natural response to the faults of the market. However, instead of improving market mechanisms there is always a temptation to enlarge the sphere of the immediate interference of the state in the economy.
The flip side of the anti-crisis measures in almost every country is the concentration of the excessive assets in the hands of the state.
During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure nobody would want history to repeat itself.
We should also be aware that for during the last months, we have been witnessing the washout of the entrepreneurship spirit. That includes the principle of the personal responsibility -- of a businessman, an investor or a share-holder - for his or her own decisions. There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results.
Another thing – handling crisis must not turn into financial populism, into rejecting a responsible macro-economic policy. Unreasonable expansion of the budget deficit, accumulation of the national debt -- are as destructive as an adventurous stock market game.
David in Qatar