Wednesday, January 28, 2009

Vladimir Putin Calls US Economic Crisis "Perfect Storm", Warns Conflict Could Erupt Out Of Turmoil, Criticizes Economic Stimulus Bill

It was just over a week ago that Mr. Putin had these kind, encouraging words for President Obama:
"I am deeply convinced that the biggest disappointments are born out of big expectations."

  • (AFP) DAVOS, Switzerland (AFP) — Russian Prime Minister Vladimir Putin on Wednesday called the international economic crisis a "perfect storm" event and warned that a conflict could erupt out of the turmoil.

  • "There is the notion of the 'perfect storm' when natural elements come to a single point and multiply their destructive capacity. This crisis looks exactly like this perfect storm," Putin said in a speech to the World Economic Forum in Davos.

  • Putin took aim at US banks and the outgoing US administration in his analysis of the causes of the crisis.

  • "Although the crisis was simply hanging in the air, the majority strove to get their share of the pie, be it one dollar or one billion, and did not want to notice the rising wave."

  • Putin said there had been a lot of criticism of the United States in recent months "but I will do nothing of the kind.

  • "I just want to remind you that just a year ago, American delegates speaking from this rostrum emphasised the US economy's fundamental stability and its cloudless prospects," he said referring to a Davos speech last year by Condoleezza Rice who was then secretary of state.

  • "Today investment banks, the pride of Wall Street, have virtually ceased to exist. In just 12 months they have posted losses exceeding the profits they made in the last 25 years. This example alone reflects the real situation better than any criticism."

  • Putin called for a constructive attitude from new US President Barack Obama in international affairs. "We wish the new team success. I hope they are willing to cooperate constructively," he said.
“Interference of the State, the belief in the omnipotence of the State: that is a reaction to market failures,” Mr Putin said in his keynote address at the opening of the four-day meeting. “There is a temptation to expand direct interference of state in economy. In the Soviet Union that became an absolute. We paid a very dear price for that.”
Remember, The President already surrendered to the former KGB Leader over Missile Defenses to protect our allies!
This is Hope and Change in action From Gateway Pundit

  • While the headlines all blare "Russia suspends missile plans in Kaliningrad," the real news is "Why?":
  • Russia has dropped plans to install missiles near Poland after the Obama administration signalled a change in US attitude to the region, a Moscow military official has reportedly said.

  • The official suggested that Mr Obama's White House had made clear it would not prioritise executing the Bush administration's plan to install a missile defence shield in Poland and the Czech Republic.
In November, Polish President Lech Kaczynski's office said Obama pledged to go ahead with plans to build part of a US missile defence system in Poland.

Also in November, Russian President Dmitry Medvedev warned Obama that Russia would deploy short-range missiles near Poland to counter U.S. military plans in Eastern Europe unless Obama scrapped the plan.

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