Putin: U.S. "living like parasites" on economy

Russian Prime Minister Vladimir Putin speaks at his meeting with participants in the Seliger youth educational forum near Lake Seliger, some 450 kilometres (281 miles) northwest of Moscow, in the Tver region, Russia, Monday, Aug. 1, 2011.

/ Pool,AP Photo/Mikhail Metzel

Russian Prime Minister Vladimir Putin is on a rhetorical roll this summer when it comes to criticizing the United States on economic matters.

A month after calling U.S. monetary policy "hooliganism," Putin accused the U.S. of "living like parasites" off the global economy and said the "monopoly" of the dollar is threatening markets worldwide, Reuters reported.

Speaking to a pro-Kremlin youth group north of Moscow on Monday, Putin said Americans are "living beyond their means" and that irresponsible U.S. fiscal policies will have a negative impact on other countries - like Russia and China - who hold a large amount of U.S. bonds and treasuries

"If over there (in America) there is a systemic malfunction, this will affect everyone," Putin said.

Last month, Putin sharply criticized the U.S. for printing money to bolster the U.S. dollar.

"We, thankfully or not, cannot print a reserve currency. But what are they (the Americans) doing?" he said. "They simply spit nails, turn on the printing press and throw money to the world, in order to resolve their urgent problems."

Putin did compliment the U.S. for one thing - reaching a last-minute debt deal that slashes roughly $2.4 trillion from the U.S. deficit over the next ten years.

"Thank God that they had enough common sense and responsibility to make a balanced decision," he said.

According to Reuters, Putin's speech had the feel of an early campaign appearance leading up to parliamentary and presidential polls - and at least one young person in attendance was impressed enough to predict Putin's next job.

"Russia's next president will be small, bald and look like Putin," joked 17-year-old Ilya Mzokov.

[djconklin]

>Putin accused the U.S. of "living like parasites" off the global economy

Only the upper 1%!

[karek40]

We take in 2 trillion in taxes. Our budget is 3.8 trillion, we owe 14+ trillion and if the interest rate really reflected what is going on it would be in the area of 10%. That means we would owe 1.4 trillion annually in interest. Is it any wonder the fed is artifically keeping the interest rate as low as it is. We are broke and no one is willing to stop spending.

[venusvegasvada]

I'd have to agree with him in some ways. We are very much living beyond our means.

What's the current US Dollar M1?
Oh, can't tell you that because the Fed stopped publishing it a few years back. Probably because they were printing so much money, beyond what we should have, that it would cause a devaluation of the dollar.

40% of every dollar the US Govt. Spends is borrowed.

99% of the entire US wealth lies with less than 1% of the population.

The value of the US Dollar was earned by our grandparents. After them, it's been one big party after the next. The Chinese have a saying that "Wealth only lasts for three generations". Could be true.

Corporations and the Rich are running the country. They set the laws. Decide who gets elected. Period.

Meanwhile the rest of us flop around and point fingers at either the Republicans or the Democrats for this problem or that one when it's a much bigger, systemic problem that appears to be beyond the current electorate to come to grips with and deal with.

[lucifersshadow]

Excellent comment.

[alphaa10000]

1. As you point out, an economic elite controls much of the US economy and has pervasive political influence.

2. As you do not point out, that economic elite has found consistent support and representation with the GOP for 150 years.

3. That GOP connection to its wealthy patrons is most clearly expressed in the signature GOP opposition to taxation-- a key demand of the wealthy. The GOP mission for its wealthy patrons is so important, the GOP was willing to drag the nation to the brink of default.

4. The electorate-- or at least a majority-- seems to understand the fundamental problem with our system lies in control of our politics by wealth. The common catchphrase is "Americans have the best congress money can buy".

5. The urgent question to be resolved by the 2012 election is whether a majority of American voters understands the GOP serves the wealthy, and is the primary vector for corruption of American politics.

[zygote9111]

He can take is overgeneralization and shove it up his Berlin Wall. Putin better get his house in order before he criticizes all Americans. Maybe its true the US govt needs to get its priorities straight, but if it wasn't for American assistance after the Cold War, you Russians would all be dead from starvation.

Screw You and go drink a gallon of vodka with your fellow "productive" Russian citizens Putin. Ha!

[lucifersshadow]

"Putin better get his house in order before he criticizes all Americans." As is we do not criticize other countries when we can't even run our own?

[mjlewis6]

Well, we know where the parasites resided in the Kremlin until the USSR dissolved. We spent BILLIONS if not TRILLIONS trying to keep that military might poised to invade...off balance until Eastern Europe was able to change the rigid grip of terror by the Kremlin.

Yes, Mr. Putin, the very structure of your government owes its democratic roots to our expenditures to keep your parasites in Moscow until the Russian Revolution turned them OUT. Thank you.

[lucifersshadow]

Judging by all the reactions below to hearing the truth, it is no wonder we are in the mess we are in.

[lillysnowk2]

A parasite contributes nothing to the survival of its host. If America is a parasite on the world economy, how come the world economy, including Russia, is so dependent on the United States economy and every financial move we make? What really needs to happen, is all citizens need to clean out corrupt politicians, the true parasites.
http://www.adaslegend.com/

[you_MAY_be_right]

"Russian prime minister says Americans are "living beyond their means" and are burdening global economy."

=====================


Well some are, but many are starting to live from paycheck to paycheck. And that number is increasing daily.

I wonder how much $$ Putain is worth? Several $M?

[Bouillabaisse]

Putin is a killer clown.

[Bouillabaisse]

... but a clown nonetheless.

[alphaa10000]

You know Putin is said to have been a KGB colonel, but what you may not realize is Putin kept Yeltsin from tripping over himself in Russian politics, and helped him survive against a countercoup by some of the same people who took out Gorbachev. We owe Putin a debt of gratitude, if only for that.

[tsigili]

The entire country is not responsible for the actions of Obama.

[Bouillabaisse]

You're not really clear on the concept of representative democracy, are you?