This is simply incredible. Russian Prime Minister Vladamir Putin is warning the US against letting the economic turmoil drive us toward more state control. What have we come to when the socialists are warning us about socialism.
As quoted in the American Thinker blog, “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”.”
He went on to say. “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.”
I never thought I would be in agreement with Putin, but our relentless bailout of every potentially failed business, mortgage holder, and financial institution is dangerous to say the least. The markets are not perfect but they are the best option we have.