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Re: God Bless Russia!
F the BBC and the limited coverage.
You can read the transcripts of their speeches here: http://www.weforum.org/en/index.htm
Putin: In the last few months, virtually every speech on this subject started with criticism of the United States. But I will do nothing of the kind.
I just want to remind you that, just a year ago, American delegates speaking from this rostrum emphasised the US economy’s fundamental stability and its cloudless prospects. Today, investment banks, the pride of Wall Street, have virtually ceased to exist. In just 12 months, they have posted losses exceeding the profits they made in the last 25 years. This example alone reflects the real situation better than any criticism.
The time for enlightenment has come. We must calmly, and without gloating, assess the root causes of this situation and try to peek into the future... -
Re: God Bless Russia!
Originally posted by babbittd View Post
Who could this be ?
The entire economic growth system, where one regional centre prints money without respite and consumes material wealth, while another regional centre manufactures inexpensive goods and saves money printed by other governments, has suffered a major setback.
...
In our opinion, we must first atone for the past and open our cards, so to speak.
This means we must assess the real situation and write off all hopeless debts and “bad” assets.
True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalisation, bonuses or reputation. However, we would “conserve” and prolong the crisis, unless we clean up our balance sheets. I believe financial authorities must work out the required mechanism for writing off debts that corresponds to today’s needs.
Second. Apart from cleaning up our balance sheets, it is high time we got rid of virtual money, exaggerated reports and dubious ratings. We must not harbour any illusions while assessing the state of the global economy and the real corporate standing, even if such assessments are made by major auditors and analysts.
In effect, our proposal implies that the audit, accounting and ratings system reform must be based on a reversion to the fundamental asset value concept. In other words, assessments of each individual business must be based on its ability to generate added value, rather than on subjective concepts. In our opinion, the economy of the future must become an economy of real values. How to achieve this is not so clear-cut. Let us think about it together.
Third. Excessive dependence on a single reserve currency is dangerous for the global economy. Consequently, it would be sensible to encourage the objective process of creating several strong reserve currencies in the future. It is high time we launched a detailed discussion of methods to facilitate a smooth and irreversible switchover to the new model.
Fourth. Most nations convert their international reserves into foreign currencies and must therefore be convinced that they are reliable. Those issuing reserve and accounting currencies are objectively interested in their use by other states.Comment
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Re: God Bless Russia!
Just watched our evening news here in Germany on state tv, financed by taxes.Originally posted by babbittd View Post
Not one word about his speech, only that he opened the forum and they were showing pictures of him leaving after the speech.
After that they were showing caricatures of him as "Lord of Gass" etc and several critics were talking about him and his economics.
I think even the BBC did a better job.Comment
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Re: God Bless Russia!
D-Mack, in the age of the internets I prefer transcripts (even over videos) but always go straight to the horses mouth if that is possible. Two lines in an article just doesn't compare.Comment
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Re: God Bless Russia!
Talking of protectionism:
http://www.russiatoday.com/Crisis/news/35814
Russian drivers protest against import tax increase
The raising of import duties on foreign cars has already been the cause of several large protest actions by motorists in Vladivostok. On December 20 and 21 special police units had to break up demonstrations, arresting 61 people in the process.
The demonstrations in Vladivostok were not the only protests by motorists in Russia.
In December such meetings were organised in Moscow and St.Petersburg, but only an estimated 25 people gathered at each instead of the expected 150. According to the pres-service of administration of the Sakhalin region in Russia’s Far East, in Yuzhno-Sakhalinsk the protest action was undertaken by between 500 and 700 people. In Barnaul a column of 150 cars proceeded along one of the central main streets, ending in a meeting of 500 people. In Blagoveshchensk nearly 300 people took part in protests, roughly the same as in Novosibirsk.
In January a meeting opposing the increase in duties was held in St.Petersburg. A demonstratoin in Blagoveshchensk in the Far East followed, with more than 100 people. Its participants addressed not only economic, but also political issues, calling for the resignation of Putin’s government.Comment
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Re: God Bless Russia!
The media for years has been harping on his KGB background like it was Devil's curse. Heck because he is KGB he knows the Game as well if not better than most at Davos.
He is one cool under the fire leader. To get through the Rat Race of Russian politics you have to be cool and damn SMART !!!
This is a nice hint
That ALL of Them Knew !!!!The current situation is no exception either. Although the crisis was simply hanging in the air, the majority strove to get their share of the pie, be it one dollar or a billion, and did not want to notice the rising wave
I would love to see what Bush Jr. would have said in a speech to open this meeting.Last edited by Shakespear; January 29, 2009, 08:25 AM.Comment
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