In late January three years ago, as America was entering the age of Barack Obama, another high-profile Head of State was speaking at the World Economic Forum in Davos, Switzerland. He warned against making “simple and popular decisions in times of crisis,” insisting that “we could face far greater complications if we merely treat the symptoms of the disease.” He argued that “excessive intervention in economic activity and blind faith in the State’s omnipotence is another possible mistake.”
Furthermore, he said, “the unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.”
That Head of State? Russia’s Vladimir Putin, who also noted: “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.”
I wrote about it here at America’s Right in one of my favorite pieces ever: Vladimir Putin, That Capitalist Pig.
294 DAYS UNTIL ELECTION DAY
269 DAYS UNTIL JANUARY 20, 2013