Putin says U.S. is "Parasite" on Global Economy

[Feuer Frei!]

Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.
"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow.
"They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls.
US President Barack Obama earlier announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded.


"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision."
But Putin, who has often criticized the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries.
"If over there (in America) there is a systemic malfunction,
this will affect everyone," Putin told the young Russians.
"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."
U.S.-Russian ties soured during Putin's 2000-2008 presidency but have warmed significantly since his protégé and successor President Dmitry Medvedev responded to Obama's stated desire for a "reset" in bilateral relations.


SOURCE

[TLAM Strike]

We are the global economy!

We have a GDP over twice that of China and ten times that of Russia.

I think Vlad is having a Communist Party flashback...

[Skybird]

Originally Posted by TLAM Strike

We are the global economy!

The EU's GDP is bigger.

And there is more to assessing an economy than just the GDP. Future perspective, fincial health(or lack of). Import-Export balance, etc. Fact is no other economy is such a big burden to all the rest of the globe, than the American - and by far so.

I already said it in another thread yesterday, Putin this time is right. The dollar must be replaced as global leading currency. The American way is irresponsible and a burden to all others. It is parasistic, yes, and does damage to all others.

Wake up over there. America ise in trouble, it brought itself there all by itself, and it brings all others into trouble as well by it's ways. America is no more a benefit for global economy, but a burden, damaging all others, and only arguing why it must be allowed to suck on the financial blood of others, instead of becoming self-sustaining and straightening it debts. You have taken all the globe as hostage.

[Herr-Berbunch]

It's not just the US that's a parasite though, there are plenty more out there, some have surface already and others are lurking.

[Feuer Frei!]

Originally Posted by Herr-Berbunch

It's not just the US that's a parasite though, there are plenty more out there, some have surface already and others are lurking.

US is the main player though. That's the problem. The other ones have less influence on the Global scale of things.
America, well...we're looking at it aren't we?

[Jimbuna]

If the $ is so bad why does Putin sit on so much in U.S. bonds and treasuries?

[August]

Originally Posted by Skybird

The dollar must be replaced as global leading currency.

With what? The Ruble? The Yuan? The Euro? The fact remains that the much vilified greenback is still the globes preferred currency choice.

[Tchocky]

It's very very easy for Putin to say this. He's sitting on a mountain of natural resources and very solid political support. Don't pay him any notice. The US is still going to pay it's bills. So the fiscal path they've chosen for the last couple of decades is becoming swiftly unsustainable due to political blindness (both major parties) and blatant idiocy (House Republicans), big deal. The only constant is change, and change is coming.

Nobbling on about the decline and fall of the "American Empire" is not only boring the pants off the world, but also inaccurate and adhering to a worldview that ain't-current-no-more-boyo.

[Growler]

Originally Posted by Skybird

The EU's GDP is bigger.

And there is more to assessing an economy than just the GDP. Future perspective, fincial health(or lack of). Import-Export balance, etc. Fact is no other economy is such a big burden to all the rest of the globe, than the American - and by far so.

I already said it in another thread yesterday, Putin this time is right. The dollar must be replaced as global leading currency. The American way is irresponsible and a burden to all others. It is parasistic, yes, and does damage to all others.

Wake up over there. America ise in trouble, it brought itself there all by itself, and it brings all others into trouble as well by it's ways. America is no more a benefit for global economy, but a burden, damaging all others, and only arguing why it must be allowed to suck on the financial blood of others, instead of becoming self-sustaining and straightening it debts. You have taken all the globe as hostage.

Hmm... y'know, we MUST be a superpower of all superpowers to make every country in the world tag along with us even as we start our great decline. I mean, seriously - we're in trouble and bringing everyone else with us, obviously against their collective will, and holding them hostage, since, poor things, they clearly had no choice.

And where was all this opposition to America and the dollar say, fifty years ago? Oh, yeah, right, right... there was none. Foreign economies couldn't wait to jump on the dollar train.

Funny how the tunes change.

[Ducimus]

Originally Posted by Growler

And where was all this opposition to America and the dollar say, fifty years ago? Oh, yeah, right, right... there was none. Foreign economies couldn't wait to jump on the dollar train.

Funny how the tunes change.

Of course tunes will change. The instant peoples will have no further use for use for us, we'll be cast aside and marginalized. It's human nature, and it happens all the time, just not on a national level, though we may see that at some point. I just hope our national pride of past accomplishments of our forebearers doesn't blind us to the future.

[kraznyi_oktjabr]

Originally Posted by Growler

Hmm... y'know, we MUST be a superpower of all superpowers to make every country in the world tag along with us even as we start our great decline. I mean, seriously - we're in trouble and bringing everyone else with us, obviously against their collective will, and holding them hostage, since, poor things, they clearly had no choice.

And where was all this opposition to America and the dollar say, fifty years ago? Oh, yeah, right, right... there was none. Foreign economies couldn't wait to jump on the dollar train.

Funny how the tunes change.

About dollar train:
1. No Soviets. No need to kiss that thingy in rear end
2. Your country wasn't so much in debt then as its now

[Growler]

Originally Posted by kraznyi_oktjabr

About dollar train:
1. No Soviets. No need to kiss that thingy in rear end
2. Your country wasn't so much in debt then as its now

None of this changes the fact that the whole "global economy" is a consequence of poor decision making and poor planning on the parts of leaders the world over, who elected to hitch their wagons to the dollar.

You don't blame the lead wagon for the breakdown if no one else in the caravan is bothering to watch where they're going, either.

[Hawk66]

Originally Posted by Skybird

The EU's GDP is bigger.

I already said it in another thread yesterday, Putin this time is right. The dollar must be replaced as global leading currency.

And may I ask what leading currency you propose? Euro? Then I would say you are kidding...the EU economy as a whole is by no means stronger than the US economy...especially if you look in the future (which region is more attractive for high-skilled Asia people and so on).

We in Germany might think so...that's also the reason why we think we can spend dozens of billions of Euros to get rid of our nuclear plants and do not take care about the real problems, which we will face very soon.

And coming back to Mr. Putin: If he's in such good mood, I would say he should take care about his old cold war submarines, which now the West seems to be responsible to get rid of (at least they have to pay the bill, which means actually billions of Euros)...Why is a country paid for getting rid of old nuclear submarine plants if they have the money to develop and buy new SSNs?

How is the weather in 1991?

Weather is easy
Red Sky at night, shepherds .......errrr .......are all communists too so is the sky...well not the Sky as he is just must mixed up, but the sky is and it is proven that when its red sky in the morning communists are coming...or going if they were on the night shift but it's still a warning.

But seriously Putin, a communist: har:
Did you hear the one about Yeltsin leading the Temperance union?