Vladimir Putin Warns U.S. Not to Fall into Socialism

Well, it appears as if Russian Prime Minister Vladimir Putin knows more  about economics than President Obama.  The following is an excerpt of Putin’s speech at the World Economic Forum in Davos, Switzerland (transcript courtesy of the Wall Street Journal).  The full speech can be found here:

Esteemed colleagues, one is sorely tempted to make simple and popular decisions in times of crisis. However, we could face far greater complications if we merely treat the symptoms of the disease.

Naturally, all national governments and business leaders must take resolute actions. Nevertheless, it is important to avoid making decisions, even in such force majeure circumstances, that we will regret in the future.

This is why I would first like to mention specific measures which should be avoided and which will not be implemented by Russia.

We must not revert to isolationism and unrestrained economic egotism. The leaders of the world’s largest economies agreed during the November 2008 G20 summit not to create barriers hindering global trade and capital flows. Russia shares these principles.

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.

The concentration of surplus assets in the hands of the state is a negative aspect of anti-crisis measures in virtually every nation.

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.

Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors and shareholders for their decisions, is being eroded in the last few months. 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.

That’s right, Prime Minister Putin warned against “excessive intervention in economic activity.”  What do you think we’re doing right now as we spend trillions of dollars in bailouts?  That, my friends, is excessive intervention.  He’s absolutely right when he says, “There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”

Honestly, this has to be one of the best things Putin has ever said.  He deserves a heck of a lot of credit for this one.  But honestly, did you think he’d say anything else?  He lived through the economic disaster that was the Soviet Union.  He understands that the path that the U.S. is going down is a DANGEROUS path, and he’s doing his best to warn us.

I only hope that the Democrats in Congress and President Obama heed his warning.

Done Ranting,

Ranting Republican
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8 Responses to “Vladimir Putin Warns U.S. Not to Fall into Socialism”

  1. Political Lipskip - Conservative Views Says:

    Amazing speech. It’s funny how China and Russia are more in tuned to fiscal responsibility than our own government, be it Democrat or Republican controlled. Isn’t it interesting how China has a couple of trillion dollars of SURPLUS (no doubt from our bloated interest payments on the debt they own) to do just about anything they have to keep their economy moving forward? We lose more of our world economic power status with each dollar our clowns in office spend on our behalf. Makes me want to puke.

  2. RightWingReform Says:

    Powerful stuff. It will fall on deaf ears, I’m afraid.

  3. Eurovision 2009 - Georgia: Stefane & 3G - We Dont Wanna Put In song lyrics Says:

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  4. Eastwood Says:

    Good advice by Putin. Looking at the economic results from communist and socialist countries, you would wonder why anyone with a sane mind would want to take us down this road. Even Putin is trying to warn us about the dangers of socialism, would you ever think we would see this day?

  5. Snow Says:

    came along this a little late…..that being said…

    While what Putin says has a ring of truth to it, we must remember that this man is a political gangster of the first order and I would not follow his lead if he knew where the last oasis was in an endless desert. He is bringing his own country to the bring of socialism with the violent flavor that has tinged Russian politics since before Peter the Great, all while under the guise as an American ally and democracy. He is not someone I would be rushing to quote.

    i’m not sayin’, i’m just sayin’……

  6. Jonathan Says:

    I don’t think Putin is talking about the dangers of socialism, so much as he’s talking about the dangers of over protected markets. He mentions Socialism is where no class hierarchy exists, and everyone has an equitable share in the ownership of the means of production. Its a bastardized term in US politics, and when banks are getting trillions of dollars, it shows really who’s in charge. Its definitely not the working class, as the term socialism would imply.

    There’s even arguments that the the Soviet Union wasn’t real socialism, but rather a regressive form of feudalism, because, even though working class people got a place to work and a place to live, the state was a hierarchy with massive control over everybody else. You had no freedom to leave, but you were tied to the land. It was like a giant serfdom. They were as much a socialist society as they were a democracy, which was another way the ruling dictatorship described itself.

    Not all socialist schools of thought are encompassed by Marxist Leninist ideology either. Libertarian socialists believe in creating free market economies in which worker owned cooperatives, in the absence of state intervention, become a new model of production that displaces wage slavery and the old capitalist hierarchy. The Mondragon corporation is a great example of this.

    Anyway, Putin is a crook and former KGB spy, and much of what he says is probably self serving. I think some aspects of the market should be protected to prevent the outsourcing of, at least, some of the labor. Its multinational corporations that mainly benefit, while everyone else has to allow their wages to perpetually diminish to be competitive with sweat shop workers that make less than 2 dollars a day on 12 hour shifts.

  7. Jonathan Says:

    I meant to say that he mentions (I didn’t type the full sentence and it ran into my explanation of socialism) what sounds like a criticism of the publicizing of debt and privatization of profit in one of the paragraphs.

    “Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”

    They already have, at least int he US, shifted the responsibility on the state with the bailouts and stimulus. AIG. JP-Morgan-Chase, Microsoft, GM, etc, got massive sums of money, and the idea was they’d create jobs. Most are just sitting on the money, waiting for the recession to end, because they’ll get more profit that way. Some of them created jobs, but its in places like China. They got free cash with no strings attached. All the while, the tax paper, rich, middle class, and poor, have the burden of the deficit. CEO’s. they can move out of country to a private island, because they’re loaded. Everyone else that can’t leave is stuck with it though. They’re just gonna keep giving them money, end public infrastructure, public schools, social security, etc. They’re turning us into a third world country basically. Why is it this way? We keep electing people that are backed by the mainstream media (corporations), campaigns that take millions to fund (corporations), and we have to deal with armies of professional lobbyists that only corporations could afford.

  8. New York Snow Says:

    New York Snow…

    […]Vladimir Putin Warns U.S. Not to Fall into Socialism « Republican Ranting[…]…

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