Saturday, June 13, 2009

Putin Warns of Excessive Intervention in Economy at Davos -

Putin Speaks at Davos - "Although additional protectionism will prove inevitable during the crisis, all of us must display a sense of proportion.

Excessive intervention in economic activity and blind faith in the state's omnipotence is another possible mistake.

True, the state's increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent."
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...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.'

Do Obama's words reveal his Middle East sympathies? - Los Angeles Times

Do Obama's words reveal his Middle East sympathies? - Los Angeles Times: "Do Obama's words reveal his Middle East sympathies?
A close examination of the speech underscores how Obama, four months into his presidency, is still introducing himself -- and what he stands for -- to Americans and the world."

In other words, people didn't really know what he stood for when they elected him.
Just what Republicans and Hillary supporters said.