While understanding that Putin is a tricksy Russian who, like all national leaders does not always say what he means and who always - correctly - has his own nation's interests at heart, we do agree with almost everything he said at his Davos opening speech on January 28. One quote:
...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.
As Mark Levin noted tonight, he sounds more free-market than Obama. The notion that the State knows best is insane. Our admin's instincts now appear to be to the left of both Russia and China. Read the whole thing.
You know something's screwy with the Democratic regime in Washington when even the Russians and Chinese are warning us not to go down the path of socialism. You'd figure they know better than anyone that socialism doesn't really work....
Tracked: Feb 18, 22:34