Putin says U.S. is a parasite on global economy

The Godfather

Spark it up for The Godfather and say!!!!!
May 9, 2007
163
#1
The sad thing is, he is 100% right. :icon_cry:

http://www.reuters.com/article/2011/08/01/us-russia-putin-usa-idUSTRE77052R20110801

(Reuters) - 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 a Kremlin youth group while touring its summer camp north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar."

President Barack Obama 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.

The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade.

"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 relations soured during Vladimir Putin's 2000-2008 presidency but have warmed significantly under President Barack Obama, who took office in 2009 promising a "reset" in bilateral ties.
 

CousinDave

Registered User
Dec 11, 2007
393
#2
"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."


This is also what prevents WWIII from breaking out
 

Lord Zero

Viciously Silly
Aug 25, 2008
438
#3
Who saw this coming (besides everyone)?
 

Falldog

Wackbag's Best Conservative
Donator
May 16, 2007
568
#5
He makes a great point. Russia's economy is удивительный!
 
May 24, 2004
678
#7
Everything a politician says is to try and rally their base. The combination of bellicosity and anti-Americanism works wonders in so many countries these days.
 

Larz

****Self-Banned****
It's My Birthday!
Feb 12, 2006
228
#8
This coming from the chief savage of a thugocracy that defaulted on its own debt not too long ago. The U.S. is the single stabilizing factor keeping this planet from plunging into pure savagery. Until Russia actually does something beneficial on the world stage Putin can eat shit.
 

Von Maestro

Registered User
Mar 12, 2010
323
#9
This coming from the chief savage of a thugocracy that defaulted on its own debt not too long ago. The U.S. is the single stabilizing factor keeping this planet from plunging into pure savagery. Until Russia actually does something beneficial on the world stage Putin can eat shit.
This X whatever the debt number currently is.

The fact is that however imperfect the US may be, we're still miles better than any other shit-hole out there.
 

CousinDave

Registered User
Dec 11, 2007
393
#10
This X whatever the debt number currently is.

The fact is that however imperfect the US may be, we're still miles better than any other shit-hole out there.

at least until the roads & bridges in this country collapse - you know the type of things politicians don't want to really take care because it dosen't buy them any votes
 

whiskeyguy

PR representative for Drunk Whiskeyguy.
Donator
Jan 12, 2010
398
#11
He's right... we should start by cutting our foreign aid to Russia, which after a quick search appeared to be $8 billion in 2009.

That will definitely help us live more within our means.
 

Token White Guy

Continuously Jaded
Oct 25, 2009
173
#12
Putin should look at his country before spouting off shit. Putin's Russia is far worse. People are leaving there in droves, the birth rate is falling, corruption takes a sizable portion of its GDP, their gas monopoly is going to shit with Europe finding new energy sources, human and constitutional rights are violated daily, opposition parties are practically outlawed and their leaders have been either killed or falsely arrested, ect. I could go on.

Obama needs to tell Putin to go fuck himself.
 
Jun 2, 2005
0
#13
We'll see how much of a parasite we are after not only continued foreign aid, but outsourcing our space program to them.
 

lajikal

Registered User
Aug 6, 2009
373
#14
We'll see how much of a parasite we are after not only continued foreign aid, but outsourcing our space program to them.
What? Basically any country that wants to put shit in space has to go through them. They couldn't give a shit if the u.s. stops contracting them.
 
Jun 2, 2005
0
#15
You realize we just shelved our space shuttle program in favor of contracting through Russia, right? That literally just happened a week or two ago.
 

MayrMeninoCrash

Liberal Psycopath
Dec 9, 2004
763
#16
He's right... we should start by cutting our foreign aid to Russia, which after a quick search appeared to be $8 billion in 2009.
So waitaminute. We are sending Russia financial aid and they are turning around and loaning it back to us by buying US treasuries? No one in power can see this insanity?
 

MayrMeninoCrash

Liberal Psycopath
Dec 9, 2004
763
#17
at least until the roads & bridges in this country collapse - you know the type of things politicians don't want to really take care because it dosen't buy them any votes
Cousin Dave and I agree on something :icon_eek: Cats & Dogs, big twinkies, mass hysteria!
 

lajikal

Registered User
Aug 6, 2009
373
#18
That's what i'm saying. They're making a shitload of cash with or without the u.s. Being that they're basically the worlds' taxi service for putting shit up in space.
 

The Godfather

Spark it up for The Godfather and say!!!!!
May 9, 2007
163
#19
Putin should look at his country before spouting off shit. Putin's Russia is far worse. People are leaving there in droves, the birth rate is falling, corruption takes a sizable portion of its GDP, their gas monopoly is going to shit with Europe finding new energy sources, human and constitutional rights are violated daily, opposition parties are practically outlawed and their leaders have been either killed or falsely arrested, ect. I could go on.

Obama needs to tell Putin to go fuck himself.
actually, sorry to break it to you.. Russia is in a MUCH better financial condition than the USA. (just about every non 3rd-world country is, included most of the EuroZone countries)

Apparently you don't know anything about United States monetary policy and how it effects countries who are (still) pegged to the dollar and (for now) refuse to let their currencies float.

We 'export' inflation, you've never heard that term before?
 

The Godfather

Spark it up for The Godfather and say!!!!!
May 9, 2007
163
#20
So waitaminute. We are sending Russia financial aid and they are turning around and loaning it back to us by buying US treasuries? No one in power can see this insanity?
We (the dept of treasury) print money and 'loan' it to the Federal Reserve, who uses it to buy unwanted US treasuries, isn't that insane and troublesome?
 

Norm Stansfield

私は亀が好きだ。
Mar 17, 2009
328
#21
The US economy is one of the most stable economies on the planet, and along with the JPY the US$ is the most stable currency on the planet. Without either, there would be no global economy.

It is however true that the US fiscal policies of the past decade are weakening that position, and endangering both the US and the global economy. If that trend continues, eventually Asia will have to find a solution to replace the dollar as the main reserve currency.

But Russia has nothing to do with any of this. They don't matter in the big picture, neither does their opinion. Their economy is not very significant to begin with, and they are going to become more and more insignificant in the future, as the Russian population continues to shrink (and become older and less productive) while Asia's population and economy are both growing rapidly.

"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."
Yeah, that is happening for a reason. And the reason isn't Russia and China's love for the evil capitalists, and their desire to help the US. It just so happens that the US dollar has been the most stable currency in the world, and developing countries kept it in reserve to prop up their own currencies. If Russia didn't have all those dollars and US securities, to be able to buy rubles and prevent a crash every time the market loses faith in them, they would just spiral out of control and crash.

The only reason why they don't is that they have dollars and US securities, which investors still trust will maintain most of their value. If tomorrow Russia, instead of running its mouth, decided to actually dump the dollar, their currency would crash. Even if they bought Euros instead, it wouldn't work as well as the dollar. The Euro is in a much weaker position than the dollar.
 

afternoonquil

Apology Ostrich
Apr 2, 2011
318
#22
I asked my russian barber about Putin and he says "he faggot man who like to put penis where he making of the shits"
 

Party Rooster

Unleash The Beast
Apr 27, 2005
438
#24
Apparently you don't know anything about United States monetary policy and how it effects countries who are (still) pegged to the dollar and (for now) refuse to let their currencies float.

We 'export' inflation, you've never heard that term before?
Stop pretending you know jack or shit about any of this. You regurgitate chicken little scenarios from whatever fearmongering right wing blogs you can find. If you think Russia's so perfect why don't you move there you fucking commie. :wavyguy: