Putin Warns US Democrats Against Socialism (Video)

“We must not revert to isolationism and unrestrained economic egotism… Excessive intervention in economic activity and blind faith in the state’s omnipotence is another possible mistake. True, the state’s increased role in times of crisis is a natural reaction to market setbacks. Instead of streamlining market mechanisms, some are tempted to expand state economic intervention to the greatest possible extent… 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.”

Russian Prime Minister Vladamir Putin
Opening ceremony of the World Economic Forum in Davos, Switzerland
January 28, 2009

This is really pathetic.
Even Russian President Vlad Putin is warning the US against socialism:

You know things are out of control when Communist China is lecturing democrats on protectionism and now the former head of the KGB is lecturing US democrats against socialism.
The Right Perspective and Pat Dollard reported:

Russian Prime Minister Vladamir Putin has said the US should take a lesson from the pages of Russian history and not exercise “excessive intervention in economic activity and blind faith in the state’s omnipotence”.

“In the 20th century, the Soviet Union made the state’s role absolute,” Putin said during a speech at the opening ceremony of the World Economic Forum in Davos, Switzerland. “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.”

Sounding more like Barry Goldwater than the former head of the KGB, Putin said, “Nor should we turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders for their decisions, is being eroded in the last few months. There is no reason to believe that we can achieve better results by shifting responsibility onto the state.”

Putin also cautioned the US against using military Keynesianism to lift its economy out of recession, saying, “in the longer run, militarization won’t solve the problem but will rather quell it temporarily. What it will do is squeeze huge financial and other resources from the economy instead of finding better and wiser uses for them.” Putin’s comments come in sharp contrast to Russia’s own military buildup and expansion.

Unfortunately, the Democrats did not listen.

UPDATE: The Chinese communist government issued another warning to Democrats today– “Increased borrowing by the United States to fund its massive stimulus package could cause the depreciation of U.S. dollar-denominated assets.”
Hat Tip Larwyn

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