MOSCOW (SR) - Russian Prime Minister Vladimir Putin has warned the Obama administration against adopting further socialism, saying Russian history clearly proves it is a recipe for failure.

“Any fourth grade history student knows socialism has failed in every country, at every time in history,” said Putin. “President Obama and his fellow Democrats are either idiots or deliberately trying to destroy their own economy.”

Economists say Putin’s comments serve to illustrate how worldwide markets have made even economic adversaries dependent on each other’s financial stability.

An Obama spokesman dismissed Putin’s claim, saying, “We’re going to do socialism better.”


http://762justice.com/2009/02/23/putin-obama-idiot-for-adopting-socialism/

sounds about right i didn't vote for him

i agree that it didn't work for other countries so why should it work for us. i hope the leaders get this through their heads

Putin to Obama: “Socialism doesn’t work”

HT: Clarice Feldman

What sort of parallel universe have we slipped into when Putin warns against the dangers of socialism while at the same time our own President gives us the bum’s rush into that very abyss. Here are Putin’s exact words in his speech at the opening ceremony of the World Economic Forum in Davos (excerpt/emphasis added)…

In the 20th century, the Soviet Union made the state’s role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.

Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.

And one more point: anti-crisis measures should not escalate into financial populism and a refusal to implement responsible macroeconomic policies. The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.


http://www.darkskiesblog.com/2009/02/18/putin-to-obama-socialism-doesnt-work/

Putin also echoed the words of conservative maverick Ron Paul when he said, “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 capitalization, bonuses, or reputation. However, we would ‘conserve’ and prolong the crisis, unless we clean up our balance sheets.”

i'm a bookkeeper by profession so i know about checks and balances and debt. i have been cleaning up my works books so i can't imagine a country's bookkeeping

i know right? but even putin says we should suck it up and write it off.

and i agree with you in this thread....it's insane. i can barely keep from pulling out my hair at work now....can't imagine a country's debt with other countries

Im not a politically minded individual, but basically what your saying is wipe the slate clean, cut the losses, and start over?

it would be easier but i don't see any countries doing that

someone needs to push the reset button, or as hillary renamed it, the "overload" button,,, oops.

in theory this would be great but can you imagine anyone not wanting to collect on a debt?

wow, that would be a monumental task, but they could do it rather quickly though.

that's why putin said it would be hard.

i just don't see that happening though. as far as socialism and warning from russia....ummm hello mcfly....russia is warning against it....they should know lol

if it's to better the world we live in, id be willing to wipe the slate clean, however there are too many self centered individuals like youve said who have the need to collect whats due to them. Sure, some businesses would fail, and some individuals would suffer, but it would be to better the world. Cut off a toe to save a foot, cant win em all, but as it stands, no one can win period.

i believe they call it prolonging the enevitable.

Translates to Obamanism. ^^^^^^

Here's the speech that Putin gave at the World Economic Forum. Most of what is quoted in the OP is not in here. I suspect that whomever originally wrote it was editorializing and, lets say 'paraphrasing' a bit.

That being said, Putin did have some interesting things to say about the economic crisis, both globally and in the U.S. It's rare to see a Russian leader call out their own 'mistakes'. And I'm very surprised to see anything like that from Putin, who I perceive to be an old school thug.

http://www.weforum.org/pdf/AM_2009/OpeningAddress_VladimirPutin.pdf

I know some of the collateral put up against the debt we owe China. The banks have put up Mortgages to secure the debt. If we asked China to forgive the debt, we'd be beholding to turn over the Mortgages/collateral.

I don't know what they promised Europe.