Russian Putinomics Department
K: Did ya find out how Putin studiously reads his advisers remarks, e.g. Glazyev’s theses and where he shelves ’em? Yeah, you’re right. You know and I know, where!
Sergey Glazyev: Central Bank drove the Russian economy into the trap of stagflation
From: News Front, Publication date: 18 April 2016, 16:51
– “Sergei Glazyev, economist, academician of the Russian Academy of Sciences, Advisor to the President of the Russian Federation in the “Real economy” the “Russian news service”
In the Council on economic policy will work Alexei Kudrin. In this Council are going to define a new economic strategy for the country. You didn’t invite this expert group?
— I don’t know what it is. The policy, which is being held today in the country, is the continuation of politics Kudrin. All major decisions that dragged us into this stagflationary trap, the transition to inflation targeting, which refers to free floating ruble rate, using interest rates as the main mechanism of regulation and the abandonment of exchange controls – all fundamental decisions that were taken during the Kudrin. Any change from him is certainly to be expected.
Today, Dmitry Peskov, was asked about Kudrin. Was the news that he is returning, because is not returned, then said that only in the expert group. Today, Peskov asked directly, he said that are good, consult and consider Kudrin to be one of the most successful members of the Cabinet and one of the best Finance Ministers in the world.
— Of course, he’s very successful, he directs the Moscow exchange, which has become the center of profit generation.
Now in charge?
— Now, as the head of the Supervisory Board. It is a huge success for him because the Moscow market is the main revenue generator, which is obtained on the manipulation of the ruble. And if the real economy collapsed, investment, foreign trade turnover is falling, the turnover on the exchange increased 5 times and reached 100 trillion rubles in the quarter. Today, all the free money from the real sector leaked to currency speculation, due to a manipulation of the course are achieved gigantic profits.You can be glad for currency speculators, who received, according to expert estimates, up to $ 50 billion due to the rocking of the ruble over the past 2.5 years due to the depreciation of our income denominated in rubles. (…)“
From: Maxim Kalashnikov, April 15th, 2016, 02:38 am
(Click to enlarge) From AS THEY LOST THE UKRAINE AND THE SECOND COLD
– “Monetarism brain is Why Russia is losing the new Cold war is
Repeating, still looked the beginning of Putin’s direct line on April 14, while going on business. And heard from the beginning, what did the rest of the line is a four-hour talk by babbling and cheap show. The President has done a terrific economic obscurantism remark. Showing his complete unity with the floor and shadow Gaidar. As stated by Mr Putin: “the Main thing is not to print money, the main thing is to change the structure of the economy.” The statement which devalues everything.
To change the structure of the economy? Right: the current “with-knee – raised” Russia has become more commodity than under Yeltsin and even under Putin is Prime Minister (2008-2012). The structure of the economy now no: if you compare 2015 to 2007, many industries have not yet emerged from that round of crisis in which the country hit in the Premiership GDP.If you take 2015 by 2007, even according to official statistics, production in metallurgy is 97% of the level eight years ago, wood – 91%, pulp and paper industry – 87%, electronics manufacturing and electronic equipment – 81%, textile and garment industry is 78%, mechanical engineering and machinery – 69%.
That is, neither the Prime Minister nor President Putin has not coped with the crisis shock of 2008-2009, not to mention the stage of the crisis, which began in 2013. the Russian Federation only deeper planted on raw count. What is there, to the devil, substitution, avoiding commodity status and the creation of 25 million high-tech jobs promised in 2012? Statistics now shows that in the country falling manufacturing and knowledge-based industries, while increasing the extraction of raw materials. (…)“