Saturday, February 13, 2010

"The U.S. Goes Wobbly On Russia"

Iran's Dictators Feel Secure Too

...Massive U.S. borrowing, and the false sense of liquidity it produces, is currently all that is supporting large swaths of the debt-ridden Russian economy by providing cheap credit to the overextended oligarchs. Mr. Putin's cronies and other leaders sitting on failed economies benefit as America continues to move from Keynesian to Ponzian economics, desperate to postpone the inevitable reckoning. Runaway inflation in the U.S. is being put off because dollars are making their way out of the country—not by creating jobs or industry, but by boosting gains in the speculative stock and currency markets.

The Obama administration seems to be engaged in an endless campaign to make people believe these problems can and will be solved eventually instead of taking the tough steps required to solve them. It is true that doing what must be done can be a thankless task and that telling the truth does not always poll well. But promises are for candidates. Fulfilling promises is for leaders.
(Read the Entire article here).

Mr. Kasparov, leader of The United Civil Front in Russia, is a contributing editor of The Wall Street Journal.

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