Russian Ruble collapses

[georgephillip]

Western consultants didn't crash Russia's economy. It had failed miserably even to deliver basic necessities in the decade leading up to the demise of the Soviet Union.

Capitalism continues to destroy living standards in Russia and all across Eastern Europe.
"In the course of its meeting in Istanbul earlier this month, the World Bank issued a report which indicates the vast decline in living standards which has taken place in the former Soviet Union and Eastern Europe in the wake of the global economic and financial crisis.

"Titled the 'Global Crisis Hits Home in Emerging Europe and Central Asia', the report speaks of a 'sharp rise in unemployment and poverty' throughout the region.

"World Bank Vice-President for Europe and Central Asia, Philippe Le Houérou, said at a press conference in Istanbul: 'What started as a financial crisis has become a social and human crisis. The global crisis has come on the heels of the food and fuel crises, which had already weakened people in the region by reducing their purchasing power. Today, rising poverty and joblessness are pushing households into poverty and making things even harder for those already poor.'”

Living standards continue steep fall in Eastern Europe - World Socialist Web Site

 

[SAYIT]

Many people remember times when Russia was trying to become a big friend of the West, and the West sent cunsultants that crashed our (russian) economy...

Western consultants didn't crash Russia's economy. It had failed miserably even to deliver basic necessities in the decade leading up to the demise of the Soviet Union.

Capitalism continues to destroy living standards in Russia and all across Eastern Europe.
"In the course of its meeting in Istanbul earlier this month, the World Bank issued a report which indicates the vast decline in living standards which has taken place in the former Soviet Union and Eastern Europe in the wake of the global economic and financial crisis.

"Titled the 'Global Crisis Hits Home in Emerging Europe and Central Asia', the report speaks of a 'sharp rise in unemployment and poverty' throughout the region.

"World Bank Vice-President for Europe and Central Asia, Philippe Le Houérou, said at a press conference in Istanbul: 'What started as a financial crisis has become a social and human crisis. The global crisis has come on the heels of the food and fuel crises, which had already weakened people in the region by reducing their purchasing power. Today, rising poverty and joblessness are pushing households into poverty and making things even harder for those already poor.'”

Living standards continue steep fall in Eastern Europe - World Socialist Web Site

I don't doubt for a moment that your source - The World Socialist Website - believes that capitalism is what is wrong with socialism but that just ain't true. Socialism is what's wrong with socialism and my point remains untouched ... western consultants did not crash the Russian economy as Igor claimed (and you cut). It collapsed then as it will now due to their overdependence on oil revenues, low oil prices and inefficient production.

 

[georgephillip]

I don't doubt for a moment that your source - The World Socialist Website - believes that capitalism is what is wrong with socialism but that just ain't true.

How do you explain the decline in Russian lifespans since Capitalism replaced "socialism."

 

[Dot Com]

yabut the cons here were banking on Pootie Poot's brinksmanship

Scenes from Putin s Economic Meltdown - Alec Luhn - POLITICO Magazine

 

[SAYIT]

I don't doubt for a moment that your source - The World Socialist Website - believes that capitalism is what is wrong with socialism but that just ain't true.
Socialism is what's wrong with socialism and my point remains untouched ... western consultants did not crash the Russian economy as Igor claimed (and you cut). It collapsed then as it will now due to their overdependence on oil revenues, low oil prices and inefficient production.

How do you explain the decline in Russian lifespans since Capitalism replaced "socialism."

That's a lame dodge but I'll play along - Global warming - and my point still remains untouched ... western consultants did not crash the Russian economy as Igor claimed (and you cut). It collapsed then as it will now due to their overdependence on oil revenues, low oil prices and inefficient production.

 

[georgephillip]

western consultants did not crash the Russian economy as Igor claimed (and you cut). It collapsed then as it will now due to their overdependence on oil revenues, low oil prices and inefficient production.

Western liberalization crashed the Russian economy for a majority of Russians.

"The partial results of liberalization (lifting price controls) included worsening already apparent thyperinflation, initially due to monetary overhang and exacerbated after the central bank, an organ under parliament, which was skeptical of Yeltsin's reforms, was short of revenue and printed money to finance its debt.

"This resulted in the near bankruptcy of much of Russian industry.

"The process of liberalization would create winners and losers, depending on how particular industries, classes, age groups, ethnic groups, regions, and other sectors of Russian society were positioned.

"Some would benefit by the opening of competition; others would suffer.

"Among the winners were the new class of entrepreneurs and black marketeers that had emerged under Mikhail Gorbachev's perestroika.

"But liberalizing prices meant that the elderly and others on fixed incomes would suffer a severe drop in living standards, and people would see a lifetime of savings wiped out."
History of Russia 1992 present - Wikipedia the free encyclopedia

 

[SAYIT]

western consultants did not crash the Russian economy as Igor claimed (and you cut). It collapsed then as it will now due to their overdependence on oil revenues, low oil prices and inefficient production.

Western liberalization crashed the Russian economy for a majority of Russians.

"The partial results of liberalization (lifting price controls) included worsening already apparent thyperinflation, initially due to monetary overhang and exacerbated after the central bank, an organ under parliament, which was skeptical of Yeltsin's reforms, was short of revenue and printed money to finance its debt.

"This resulted in the near bankruptcy of much of Russian industry.

"The process of liberalization would create winners and losers, depending on how particular industries, classes, age groups, ethnic groups, regions, and other sectors of Russian society were positioned.

"Some would benefit by the opening of competition; others would suffer.

"Among the winners were the new class of entrepreneurs and black marketeers that had emerged under Mikhail Gorbachev's perestroika.

"But liberalizing prices meant that the elderly and others on fixed incomes would suffer a severe drop in living standards, and people would see a lifetime of savings wiped out."
History of Russia 1992 present - Wikipedia the free encyclopedia

From your source: "Alcohol-related deaths skyrocketed 60% in the 1990s." Poor lifestyle choices by Russians can only be blamed on capitalism by flaming loony leftist morons, and Igor's complaint wasn't that "Western liberalism" crashed Russia's economy but rather that "Western consultants" did. The Soviet economy had already collapsed under the weight of their "Workers Paradise." As your source clearly indicates it was the collapse of the USSR's economy and economic system (socialism) - due in large part to market realities ( their overdependence on oil revenues, low oil prices and inefficient production) - which caused the Soviet Union's demise, not the other way around. There was a price to be paid for 75 years of their stagnant, way-less-than-efficient socialist system. From your source:

"The partial results of liberalization (lifting price controls) included worsening already apparent hyperinflation, initially due to monetary overhang and exacerbated after the central bank, an organ under parliament, which was skeptical of Yeltsin's reforms, was short of revenue and printed money to finance its debt."

That's not the impact of introducing a market economy but rather the inevitable end to any socialist state once it runs out of OPC (read: stolen money) to support itself. China has handled it way better and I can't wait to see Cuba's socialist capitulation.

 

[georgephillip]

The partial results of liberalization (lifting price controls) included worsening already apparent hyperinflation, initially due to monetary overhang and exacerbated after the central bank, an organ under parliament, which was skeptical of Yeltsin's reforms, was short of revenue and printed money to finance its debt."

Who was responsible for giving Russians the advice to liberalize their economy, someone at Harvard, maybe? If you honestly believe someone who's just lost his job, home, and life savings wouldn't be likely to turn to alcohol, you're even more clueless than I thought.

 

[SAYIT]

The partial results of liberalization (lifting price controls) included worsening already apparent hyperinflation, initially due to monetary overhang and exacerbated after the central bank, an organ under parliament, which was skeptical of Yeltsin's reforms, was short of revenue and printed money to finance its debt."

Who was responsible for giving Russians the advice to liberalize their economy, someone at Harvard, maybe? If you honestly believe someone who's just lost his job, home, and life savings wouldn't be likely to turn to alcohol, you're even more clueless than I thought.

Like most loony lefties you have a myriad of excuses for failure. As it applies to the collapse of the Soviet Union, thanks to years of socialist-style non-productivity their economy was already wracked by severe shortages and hyperinflation. Nothing short of a massive bailout from the West could save them from the difficult task of having to build a real economy from the ashes of their failed socialist one.
The problem with socialism isn't capitalism, it's socialism.

 

[CrusaderFrank]

This is what you get when you have Russia's equivalent of our Far Right in charge.

I hear he's blaming it on the mess he inherited from Gorby

 

[Dot Com]

looks like our Proud, two-term, African American, President "check-mated" Pootie Poot contrary to what rw media was forecasting CrusaderFrank

Ruble Collapses After Russia Tries to Rescue It And Fails - NBC News

 

[Two Thumbs]

Ruble hits new low Russia s shock-and-awe move fails to halt ruble collapse - Dec. 16 2014

Putin's aggression and the oil price plunge are taking their toll.

well good

It's always nice when a country that took handouts from us then shits on us fucking suffers

wonder how long before they are begging to be saved

 

[Two Thumbs]

looks like our Proud, two-term, African American, President "check-mated" Pootie Poot contrary to what rw media was forecasting CrusaderFrank

Ruble Collapses After Russia Tries to Rescue It And Fails - NBC News

obama never knows what's going on and you think he planned this

yer pathetic

and fyi, oil prices dropped b/c china went from buying all the oil they could to being an exporter

 

[CrusaderFrank]

looks like our Proud, two-term, African American, President "check-mated" Pootie Poot contrary to what rw media was forecasting CrusaderFrank

Ruble Collapses After Russia Tries to Rescue It And Fails - NBC News

You might want to read the stuff you link to, at least once in a while. The unread article said the collapse of the ruble was linked to the falling price of oil

 

[Dot Com]

Whaevs @Frank1400PennAve. You people are going to have to manufacture another foil to our proud, two-term, African American President 44

 

[CrusaderFrank]

Whaevs @Frank1400PennAve. You people are going to have to manufacture another foil to our proud, two-term, African American President 44

^ Still hasn't read his own article

 

[Two Thumbs]

Whaevs @Frank1400PennAve. You people are going to have to manufacture another foil to our proud, two-term, African American President 44

He's from Hawii, not Africa

 

[Dot Com]

Russia s Putin scraps New Year s holidays for ministers

 

[JimH52]

Russia s Putin scraps New Year s holidays for ministers

Funny! Another picture for Frank's wall!

 

[Luddly Neddite]

Heard on the news coming home that PoorPootin is saying he's the victim of the Imperial Pigs of The West.

Anyone wanna bet the RW Pootarians here side with him against their own county?