The former thug head of the KGB, Vladimir Putin, spoke at the World Economic Forum in Switzerland the other day. He warned the U.S. to learn a lesson from Russian history and not exercise “excessive intervention in economic activity and [have] blind faith in the state’s omnipotence”. He went on, “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”.

Putin warned us not to “turn a blind eye to the fact that the spirit of free enterprise, including the principle of personal responsibility of businesspeople, investors, and shareholders…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”. Sounding like Reagan, he advised us to take our licks and write off all these bad debts. Keep the government out of the equation.

Oh, the depths to which we have fallen. Perhaps when the doodoo really hits the fan we can all crowd into one of NAREQ’s planes and defect to Russia.


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