Friday, September 23, 2011

Elvira Wants to Plan the Russian Economy

There are more signs that the Russian economy is in trouble.

Russian Economic Development Minister Elvira Nabiullina says Russia needs a new economic model. Unfortunately, it appears that Nabiullina doesn't understand that current problems in Russia (where polls show that a quarter of the middle class want to leave the country) are caused by the central planning now going on in the country.

She wants more central planning.

"We are raising the question of a new economic growth model, because that of the 2000's, which had its own flywheel of growth, does not respond to the challenges we are facing now. These are challenges of a global competition as well as demographic, technological and ecological ones."

"I believe that the investment climate and investment in infrastructure are key factors of a new model of economic growth. Besides investment in infrastructure, we need investment in knowledge and technologies. In this case a new growth flywheel will start working," Nabiullina told a congress of the ruling United Russia party.


  1. When you realize that all the countries, countries that could really compete with the US, are all being lead by the same clueless class of intellectuals, using the same stupid Keynesian playbook, then the US really doesn't have much to worry about (at least relative to the rest of the world). It's like a giant race to ruin, which the US will probably get to after everybody else. USA! USA!

  2. Did this babbling twit go to Harvard?

    These people have to be stupid as friggin heck to think they know better millions of other's wants and desires.

  3. Has the world gone completely mad or are most humans simply oxygen thieves? Can't these morons get it through their THICK skulls that central economic planning is a disaster? How many bleeping times does it have to fail, huh? How many?

    It seems most people are just impervious to logic. Sheesh!

  4. Investment investment investment... blah blah blah.

    To these types "investment" is simply code for "slush money".

  5. I think we are being a bit hard on Elvira. Government Central Planning is all that politicians and bureaucrats know how to do! It is the only tool in their toolbox! You'd might as well fault the sky for being blue!

    Nice name, by the way, "Nabiullina", maybe derived from "nebulous"? Oops, now I'm doing it too!

  6. "Yeah, but they never had me at the economic reigns. It will be different this time because I am a genius."
    - Every central planner in history

  7. Oh baby, you had me at "flywheel."