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Thread: Putin US is a parasite on world economy

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by PeteEU View Post
    And Russia had a choice when it defaulted, and chose to screw over its creditors despite knowing of the massive amounts of wealth it was sitting over.
    I probably wasn't sufficiently clear. Russia likely had a choice as to whether it defaulted (it chose default). Russia had no choice when it came to the onset of its crisis. In contrast, if U.S. policy makers choose wisely, the U.S. still has enormous latitude to avoid the kind of crisis that unfolded in Russia. But will the U.S. choose wisely remains to be seen. Risks of a less than prudent course likely have increased on account of the recent political dysfunctionality exhibited during the debt ceiling debate. That a modest deficit reduction agreement was sealed to avoid a self-inflicted crisis does not mean that U.S. political risk has diminished.

    Also, I fully agree about PM Putin's motives. He is extremely focused on Russia's interests how he perceives them and those interests alone. The less exaggerated point about the opportunity costs associated with large capital inflows is a reasonable one. PM Putin's exaggerated claim goes well beyond that narrower issue.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by Иосиф Сталин View Post
    It's difficult to think in the same terms than Vladimir Putin if you have been in the US all your life, but he's absolutely right. The world doesn't need the US.
    Really? The world doesn't need the world's largest economy, the number one manufacturing country, the number one consumer economy, and the only country in the world with the wherewithal to oppose some like, say, Putin, should he decide that Russia's daliance with representative government has gone far enough? Interesting perspective.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by donsutherland1 View Post
    I probably wasn't sufficiently clear. Russia likely had a choice as to whether it defaulted (it chose default). Russia had no choice when it came to the onset of its crisis. In contrast, if U.S. policy makers choose wisely, the U.S. still has enormous latitude to avoid the kind of crisis that unfolded in Russia. But will the U.S. choose wisely remains to be seen. Risks of a less than prudent course likely have increased on account of the recent political dysfunctionality exhibited during the debt ceiling debate. That a modest deficit reduction agreement was sealed to avoid a self-inflicted crisis does not mean that U.S. political risk has diminished.

    Also, I fully agree about PM Putin's motives. He is extremely focused on Russia's interests how he perceives them and those interests alone. The less exaggerated point about the opportunity costs associated with large capital inflows is a reasonable one. PM Putin's exaggerated claim goes well beyond that narrower issue.
    If Russia wasn't sitting on a pool of oil and gas it would be completely bankrupt. Where did Putin earn is degree in economics?

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by AdamT View Post
    If Russia wasn't sitting on a pool of oil and gas it would be completely bankrupt. Where did Putin earn is degree in economics?
    Of course, not every country with abundant natural resources is prosperous. Yemen is but one example. Factor endowments offer potential, but that potential needs to be realized.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by celticwar17 View Post
    I agree with Putin... we arn't only parasites in the global economy but also on our own.
    There is no "we." The US government and American people are two separate entities.

    Don't degrade yourself by identifying w/uncle sam.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by donsutherland1 View Post
    Of course, not every country with abundant natural resources is prosperous. Yemen is but one example. Factor endowments offer potential, but that potential needs to be realized.
    Yemen's natural resources are in serious decline.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by donsutherland1 View Post
    Of course, not every country with abundant natural resources is prosperous. Yemen is but one example. Factor endowments offer potential, but that potential needs to be realized.
    Frankly I haven't seen Putin as very important at all on the world stage recently. His country is one of the finest examples of total corruption the world has seen in decades. The intermixing of companies and govt are more corrupt than China's. The poverty and food shortages are totally unnecessary, and besides that he's just an old school stalinist.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by solletica View Post
    There is no "we." The US government and American people are two separate entities.

    Don't degrade yourself by identifying w/uncle sam.
    The fact that our politicians have managed to convince you of this is representative of what our fundamental problem is.
    No, we aren't two separate entities.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by AdamT View Post
    Yemen's natural resources are in serious decline.
    Yemen still has abundant natural resources (3 billion barrels of proved oil reserves and 16.9 trillion cubic feet of natural gas) with a total value of near $500 billion. Having said that, natural resources are a starting point. Any advanced economy has to transition into a broader range of activities if growth is to be sustained for the long-term. Russia and Yemen are no different in that respect.

    However, Russia has done far more than Yemen to leverage its natural resources. In other words, it has taken measures to realize the potential that exists with respect to its natural resources. Yemen has not. Therefore, it isn't Russia's natural resources that have made the big difference, it is what Russia has done to leverage those resources. Had Russia not leveraged those resources, it would be far worse off than it presently is. For the longer-term Russia still has a lot of work to do to diversify its economy.

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    Re: Putin US is a parasite on world economy

    Quote Originally Posted by donsutherland1 View Post
    Yemen still has abundant natural resources (3 billion barrels of proved oil reserves and 16.9 trillion cubic feet of natural gas) with a total value of near $500 billion. Having said that, natural resources are a starting point. Any advanced economy has to transition into a broader range of activities if growth is to be sustained for the long-term. Russia and Yemen are no different in that respect.

    However, Russia has done far more than Yemen to leverage its natural resources. In other words, it has taken measures to realize the potential that exists with respect to its natural resources. Yemen has not. Therefore, it isn't Russia's natural resources that have made the big difference, it is what Russia has done to leverage those resources. Had Russia not leveraged those resources, it would be far worse off than it presently is. For the longer-term Russia still has a lot of work to do to diversify its economy.
    I certainly agree that Yemen is and has been about a dysfunctional as you can get. Clearly they were starting from a much more primitive state and have a far less educated population, very little infrastructure, and numerous other problems.

    OTOH I can't heap much praise on Russia. It is riddled with crime and corruption.

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