We see that everything is not so good for our friends in the States.Putin is a little confused by what is generally thought of as printing press activity, which is done by Ben Bernnake and his crew at the Fed by printing money tp buy bonds, rather than the bonds themselves. Nevertheless, he does seem to get the idea that what is going on in the U.S. is not good.
Look at their trade balance, their debt, and budget. They turn on the printing press and flood the entire dollar zone — in other words, the whole world — with government bonds. There is no way we will act this way anytime soon. We don’t have the luxury of such hooliganism.
Wednesday, April 20, 2011
Putin Calls U.S. Financial Activity Hooliganism
Russian Prime Minister Vladimir Putin dissed the United States economy and monetary policy, in comments before Russia's lower house of parliament.
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"There is no way we will act this way anytime soon. We don’t have the luxury of such hooliganism."
ReplyDeleteYet, Putin recruits America's financial hooligans with a $10 billion enticement for private equity underwriters.
"There is no way we will act this way anytime soon. We don’t have the luxury of such hooliganism."
ReplyDeletePrice inflation rate in Russia: 9.5%
Still, I guess it's nice to hear some Fed bashing from someone so influential.
Inflation in the USA is in reality prob pretty close to that same number - 9.5%.
ReplyDeleteIf you haven't figured it out yet, the Federal Government spins and lies all the time.
Charlie,
ReplyDeleteRussian inflation is more like 15-18%. Let's not forget who created "Pravda".