[....] The man whose net worth, by Forbes’ calculations, has jumped more ($21.6 billion) during the Obama administration than any other American — Mark Zuckerberg included — wants to take the president out for economic reasons. “What scares me is the continuation of the socialist-style economy we’ve been experiencing for almost four years. That scares me because the redistribution of wealth is the path to more socialism, and to more of the government controlling people’s lives. What scares me is the lack of accountability that people would prefer to experience, just let the government take care of everything and I’ll go fish or I won’t work, etc.”
“U.S. domestic politics is very important to me because I see that the things that made this country great are now being relegated into duplicating that which is making other countries less great. … I’m afraid of the trend where more and more people have the tendency to want to be given instead of wanting to give. People are less willing to share. There are fewer philanthropists being grown and there are greater expectations of the government. I believe that people will come to their senses and not extend the current Administration’s quest to socialize this country. It won’t be a socialist democracy because it won’t be a democracy.” [....]
I know some people might suggest the money spent on these rockets could be better spent lifting their people out of poverty, but given their population of well over a billion people, I think that forcing them into either/or options is narrow thinking.
Krugman explains why the ruble has fallen more then the deflation of the price of oil. He looks at all the debt that the oligarchs has accumulated out side of Russia. All this debt is held in foreign currency and not in rubles. Normally this type of currency crash happens when high foreign debt is caused by government over borrowing and low exports. This is not the case because exports have been high in Russia and government borrowing low. The private sector has been accumulating assets out side of Russia with heavy borrowing.
It is a good read. I like how in the end he brings up the love affair some of the far right's with Putin. Like I said in a comment on the other thread on this subject. Russia is a far right's wet dream.