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View Diary: SURPRISE: IMF Bailout of Ukraine Comes with Austerity Strings Attached (94 comments)

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  •  Hahhahaha (2+ / 0-)
    Recommended by:
    Kurt from CMH, Laurence Lewis

    With no strings but with plenty of shackles

    •  Plenty of oligarchs...... (3+ / 0-)

      Same difference.

      "Stealing kids' lunch money makes them strong and independent." -- Rand Ryan-Paul Koch

      by waterstreet2013 on Thu Mar 27, 2014 at 07:43:22 AM PDT

      [ Parent ]

      •  Putin renationalized the banks, the defense (4+ / 0-)
        Recommended by:
        AoT, Euroliberal, Johnny Q, Azazello

        industry and the energy industry. People here were bitching about how rough he was on the oligarchs who had got these assets for a song under the US backed Yeltsin presidency. Many of them were US citizens who were invited to "teach" Russian "businessmen" how to run private businesses.

        Putin is no friend to the oligarchs. He leaves them alone as long as they pay taxes and stay out of politics. This goes for a few that own huge media interests.

        Putin has relaxed some of the terms in the energy industry and now is best buddies with some of the CEO's he had previously tossed out. Foreign oil companies like Exxon and Shell can now get 49% shares. These deals are worth a half trillion dollars and more. It is not by chance that Russia came to be the largest exporter of oil and gas in the world.

        Russia's Economic Growth In Comparison With The G7
        So, using FRED , Rosstat, and the IMF, I decided that I would throw together a few charts showing how Russia’s economy has fared in comparison to the G-7 since 1998.
        What these graphs show is something that, by this point in time, should be glaringly obvious: that Russia has been growing much more rapidly than the other G7 countries ever since its economy bottomed out in 1998 and has also recovered much more rapidly from the global financial crisis and the “great recession.” This doesn’t mean “Putin is great!” or “Russia is the future!” but it does mean that anyone who suggests that Russia is chronically under-performing in comparison with the West, or that its economy is incapable of growing, ought not to be taken very seriously.

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