Actually a President has nothing to do with the economic condition of the US. That power belongs totally in the house of representatives and the Senate. If you look at the Clinton years look who was in charge. Clintons economy wasn't the best in 80 years. It was smoke and mirrors and using Social Security money to shore up a deficit. It came back to haunt us in 2006.
Second Putin isn't that smart. If he was he would look in his own back yard. If all economies are tied to the US, then there is something wrong with the world economy. Bush took a hammering and rightly so in some issues. Though who uses economic weapons more than Putin. Now his economy is in shambles, he rolled the dice and got burned, now it's time to blame Georgie.
When the US economy really takes a hit, it will be because of fraudulent economic policys of the Upcoming administration. More economic stimulus packages, where's the money coming from? Printing more dollars and devalueing the currency more? Creating 600000 more federal jobs when the tax dollar is only worth 20 cents after bureaucratic waste.
Nope you guys in the world have pinned your hopes on a false messiah. Yes we can, and change, change change. When you look at the new administration, as "The Who" said in "Won't get fooled again" Meet the new boss same as the old boss. Obama has corruption issues popping up left and right even before he is sworn in.
The problem in the US happened when conservatives lost their balls and started watching their press clippings.
Yes doesnt it seem that Bush has become the ultimate socialist, running around handing out dollars to business like its confetti. It appears a policy of borrow and hope.
I dont think you can blame Clinton for the present woes, he hasnt been around for 8 years. Im sure Bush took credit for the good times during his reign. What did he do during those times?
Putin is the smart one. During the good times he paid off all of Russias huge debt and then managed to bank half a trillion dollars. Russia is now one of the few countries in the world that has a positive bank balance.
Sure their sharemarket is way down but thats because oil is only 1/4 what it was 6 myhs ago. The share market is an illusion. The oil is still in the ground, it doesnt matter what the share market says. When the dust settles Russia will be debt free and in good shape. The price of oil will rise and again the money will wash in.
I heard Russia has just overtaken the US as No 1 in world export arms sales. The factories are still working.
Putin has shown good management, not surprising he is well liked in Russia.
Sorry Addy, but the US is in the mess because of Clinton. The whole economic downfall rose because of the Mortgage Crisis, or the Fraud that was perpetrated. Clinton forced banks to write bad paper or extend mortgages to people who had no ability to pay for it. Then% guaranteed the mortgages with Fannie and Freddie.
As for banking money, the US in local and small banks of a savings deposit of over 97 trillion dollars. Thats money sitting back and waiting to be invested. I'm in one of those small banks that won't do Hud loans or any government loans. Though they don't get the Fed assistance with cheap dollars, they have minded their portfolio into a strong one. With them you still require a down payment to buy a car. You need at least 20% down in cash or equity to buy a house.
The investment banks took it in the shorts and should be left to fail. Where the fraud comes in is the ignorant American public bought into Barney Frank, Chris Dodd and GW's BS that the economy would crash if we didn't bail them out. Like the money that was invested in these bad loans just disappeared like it was set on fire and it didn't. See government is the problem, it isn't just spending that's out of control, but government intervention. Reagan said the problem with our economy is Government in the way. We aren't a free market, that's a myth.
As for people working, I work in the manufacturing part of the economy. There have been some layoffs but I haven't been affected my sales are still on an upward swing and I had a very strong November and December with January looking strong. Recession is a buzz word that the fear mongers want out there to pass a more marxist and socialist agenda and that's what Obama is all about. If that's what you see as good for the world, well the world wide economic crisis is far from over.
This also wouldn't be the first time Russia has surpassed the US in arms sales it was done in Khruschevs era and Brezhnevs time also. Don't bank on oil rising up to the 150 dollar a barrel level again. See that's basically how Putin paid debt, kind of like a company borrowing money against it's receivables. Though it looks good on paper the debt isn't actually paid.
The only credit I will give Bush is on his execution of the war on terror. His economic policys are so far left it's too funny, but the Republicrats bought into it and now are paying for it. Unfortunately it's going to be paid by the American Public and so will this idiotic stimulus package. See I'm old school, tough times require tighten the belt, stop all foreign aid, get our house in order then worry about the rest of the world later. Though I see Bush signed a bill to send 30 billion to Africa to fight aids, Why?
Adman: Are you kidding me or what? Putin barely paid down a cracker, the rest of the developed world forgave hundreds of billions of dollars in debt to drag Russia’s sorry arse out of the mire 20 years ago.
Sure, Russia has done well from the energy boom but has proved herself and unreliable supplier and even Europe with it’s desperation for supply has not allowed itself to be more than about 35% dependant on Russia. If you want to see who really pulls the strings in Russia, look to Yuri Luzhkov and his henchmen. He has made Putin a very rich man at his own pleasure and for his own benefit but he also tersely warned Putin recently with a none too subtle smack around the face that all could change very quickly.
Putin is, was and will be for some time, an excellent hatchet man for the real power brokers in Russia. His earthy tones and continual rebukes of the west and in particular USA sell very well to a politically ignorant population. Putin is also an excellent diversion for those really making hay whilst the sun has been shining. Russia now is very little different from the Russia of 200 years back. A country of vast wealth which is carefully held in the hands of a few people who are fiercely protected by a corrupt political system which is in turn supported by those few wealthy people whilst distribution to the many is scant. Capitalistic socialism at a level that makes the wealthy Chinese look like powder puffs by comparison.
Russia has banked some money at the expense of internal infrastructure and military spending of recent years. The military is decrepit other than a few select, well connected sections. Reagan and Thatcher said years back, we will break these bastards and we will do it with military spending. Russia tried to go the distance and collapsed. In the years which followed in the absence of military spending, Russia recovered to a large extent but look now. Military spending is back on the high priority spend list with the Kremlin, it sells well to the Russian people but at what cost. Memories are short I suspect. History may yet judge the Bush regime to be a little smarter than it does right now and may just not laud Putin as the great tactician after all. I think in his attempts to sucker everyone else, he has suckered himself and walked right into the commitment of military overspend. The real power brokers of Russia couldn’t care less as they will continue to do their thing with Putin Inc taking the spotlight away from them which suits their purpose perfectly. Right now, government salaries are up to two months late across parts of Russia which hardly suggests the bed of roses or bringing Russia into the top 5 most attractive places in the world to live as Putin declared recently. Time will show, but a number of average Russians I know who have been doing rather well over the last few years are now rethinking their future and whether or not that might involve living someplace else. They respect Putin but certainly don’t see him as Moses.
Military exports are good business if you can get paid. Russia’s clients for the most part can’t afford to or won’t pay on time if at all, hardly quality business. One example of swapping arms to Thailand for Rice which is stockpiled in Thailand and unlikely ever to be shipped to Russia does not represent a likely way of remaining debt free in cash terms. One eastern Russian steel factory has cut production by 30% and is in the process of laying off between 30 and 40 000 workers directly and upstream. Yes Sir, Russia is looking good, just trust uncle Vova.
If Putin is one thing, he is a very good salesman. Even reasonably intelligent people with access to better quality information are often taken in by his blurb. Maybe the American car Auto industry should employ him?
> They offered Ukraine a contract deal at rates close to Belarus’ rate
maxirat: not even close surely?
"belarus paid $119.53 per 1,000 cubic meters of natural gas in the first quarter of 2008, and
$127.9 per 1,000 cubic meters in the second quarter.
in contract, ukraine paid $179 per 1,000 cubic meters" (KyivPost::32553)
and as for $450? well that is just stupid, considering that the price is going to plumit anyway.
why can't they just maybe make a deal on $450 for maybe 3 months?
of course this would have to include an increase in the price that russia pays for the transport of gas, to western prices too.
/pete
all the 'highlights' are on my blog as usual... http://www.purpletartan.com/DzhopHav.pl
Pete
I thought Belrus was paying just over $200 for 2009 - I might have read it wrong.
This $450 Gazprom offer etc - is all just to get Ukraine back to the table, which sounds like is about to happen.
It will settle somewhere between $200 - $250 with a slight increase in transit fee possible ???
Adman
Told you not to mention Putin and Clinton in the same post :-)))
Danny: Simply my observations, whether correct or not is always open to opinion and only time will tell. Will any of that send girls rushing to the agencies? I doubt that will happen anytime soon, however, watch the space 10 years hence.
I hear that pipeline along the Black Sea will be finished in a year and a half. When that's finished, Ukraine will not have this leverage and Russia will remember this.
> It will settle somewhere between $200 - $250 with a slight increase in transit fee possible ???
isn't that what ukraine offered anyway? $235 with 1.8? (or was it 1.7?) it's all politics i guess
bull:
> I hear that pipeline along the Black Sea will be finished in a year and a half.
> When that's finished, Ukraine will not have this leverage and Russia will remember this.
sounds like roughly what i heard. but it will probably cost more to run than to pay ukraine an increased fee. again all politics.
Well Europe is in the sh1t for gas today, because Ukraine have been stealing it Russia have cut of the flow to some countries that depend on it, one country, I cannot recall which, has declared a state of emergency.
It's bl00dy cold in Europe at the moment but there are other RU gas pipelines running from RU via the Baltic States and/or Poland to some EU countries but these cannot provide to all EU countries.
When RU cut it off to Ukraine, certainly on UK TV, Russia was the guilty provider rather than Ukraine the guilty non-payer, I would imagine that opinions will soon swing and indeed Ukraine may find itself alienated because they have, effectively, put a stop to the EU gas supply.
Dun Im in agreement with Danny, You really did make up that post out of your head )
Qoute
>Putin barely paid down a cracker, the rest of the developed world forgave hundreds of billions of dollars in debt to drag Russia’s sorry arse out of the mire 20 years ago.<
Its ok to write fantasy but at least try and keep the post credible.
And dont worry about statesman Putin. The last guy that thought he owned Russia now sits in jail. His obscene fortune now safely in Putins coffers.
Adman: Have you any idea of the foreign debt Russia carried prior to the collapse of the FSU? Yuri Luzhkov put Putin where he is, was there long before him and likely will be there long after. I suggest you start dealing in reality rather than what you hope is the case. You might spend a decent amount of time in Russia and learn a little of how it actually is before spouting off on subjects you obviously know nothing about.
Bulgaria is talking a crisis situation and Slovakia will declare a state of emergency
Most Western Media I have seen have not done any finger pointing - yet.
But reports coming in from Western European country officials are pointing at Kiev.
It is also looking like Kiev is hoping on financial support in that direction - a charitable donation !!!
> Well Europe is in the sh1t for gas today, because Ukraine have been stealing it Russia have cut of
> the flow to some countries that depend on it, one country, I cannot recall which, has declared a
> state of emergency.
martin: i don't believe this is true. it *does* take energy to repressurise the gas every few kilometers, which is the 'technical gas' that naftogaz is (was!) using.
should naftogaz have to use reserves to meet this requirement? well maybe... but i guess it's not important at this point, when there is no gas to transit!
Dunromin,
To make things a little clearer
Your quote
>Putin barely paid down a cracker, the rest of the developed world forgave hundreds of billions of dollars in debt to drag Russia’s sorry arse out of the mire 20 years ago.<
BBC
Sunday, 7 January, 2001, 22:04 GMT
Putin pledges Soviet debt payment
Mr Putin and Mr Schroeder took time out to enjoy the Russian winter
Russian President Vladimir Putin has said that Russia will repay all its debts inherited from the Soviet Union.
Speaking to reporters at a Moscow airport where he was seeing off German Chancellor Gerhard Schroeder, Mr Putin reiterated that a quarter of all budget spending for 2001 had been earmarked for debt payment.
Times
Published: MONDAY, AUGUST 21, 2006
MOSCOW: Vnesheconombank, a Russian state-owned bank, on Monday transferred $23.7 billion to pay off Russia's entire debt to the Paris Club, a group of creditor nations, eight years after Moscow defaulted on more than $40 billion of domestic bonds.
The sum transferred includes a $1.3 billion scheduled payment under the original payment schedule, Vnesheconombank said on its Web site.
Russia signed an agreement June 30 to repay its debt to the club, including a $1 billion premium. Deputy Finance Minister Sergei Storchak said the same day that the payments would be completed by Aug. 21.
Russia is using revenue from exports of crude oil to pay off debt. The country's credit ratings have been raised as its economy expands for an eighth year. Russia's early repayment is the largest ever made to the Paris Club, according to the organization.
So Russia has paid all the debt and had to pay a premium for early repayment.
Youve been dreaming Dunromin, Your post is opposite to reality.
here is the original video made for Kharkov (Ukraine) news, i guess the gal who's talking in the beginning, has joined one of the on-line dating clubs and now makes the living out of it, and then goes the part with Mordinson representative talking about the agency:
http://www.youtube.com/watch?v=o3AR_RAI3gA