Friday, October 05, 2012

Russia economic failure in progress

Russia is weak for its size and for the natural resources it has. And things are turning for the worse.

Russia depends on export of its oil and natural gas. But development of its new fields is stopping - no future. And Europe is pushing back on monopoly practices of GazProm.

There is almost no foreign investment. What appears to be foreign investment is mostly money taken out of Russia by kleptocrats coming back home. Why won't anyone invest in large, resource-rich Russia?

The demographic situation is terrible. Life expectancy keeps dropping….

Meanwhile "elected" President Putin is acting like dictator Putin. He continues his crack down. He is frightening investment away.

So what is President Obama doing? He is removing what little support the US has been giving for good government efforts. He accepted Russia's weak complaint about USAID and pulled out. And Obama closed our voice in Russia - Radio Liberty.

Kim Zygfeld at PJ Media has the full report.

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