No Putin it is a direct quote attributed to Niolai Leonov.

Nikolai Leonov-Putin I do appreciate your attention to detail, and to honor your zeal I will demand the exact same of you. Every single piece of evidence you present much meet your own high standards and be completely sourced to the T. A university professor placing quotes around a statement from a soviet official he explicitly names on that professors own faculty webpage is meaningless.
They didn't storm the government. The USSR was abolished in a backroom deal in Minsk between Yeltsin, Shushkevich, & Kravchuk. Nobody voted to get rid of it and nobody stormed anything to get rid of it.

No supporting link whatsoever. A post of complete rubbish according to Putin's own standards that evidence must be traceable to its original academic source. Why he would violate his own standards is a mystery to one and all.


It's so easy to expose a hypocrite like you Putin.

Baby, you are describing actions of the government not the banks. The government gave the banks a bail out. Why did the government do it, because they face no consequences. The ignorant government regulators that didn't catch Bernie Madoff didn't get fired. When you complain about the bail outs you are complaining about actions taken by the government and you are too stupid to even realize it.

Another Putin Post completely unsourced with no reference to a source whatsoever. Without a source they are nothing but fabrications and number pulled out of his ass for all anyone knows.

Putin claimed the Soviet and Chinese had very high levels of GDP growth.Putin doesn't even bother to say what the GDP levels were, just an ambiguous "very high" is all he says. He supplies no source for his statements even though he demands sources from others.

Then Putin says "Look at the savings rates of the Soviet Union, especially from the 1920s to the 1960s, and the GDP growth rates." Again he supplies no source for his statements even though he demands sources from others. Again he is too lazy to supply the specific savings rates or the GDP growth rates.

Finally Putin clamis "Chinese government spending is 40% of GDP. US spending is 23%. Where is the source? He demands that others provide sources but he doesn't.

Putin's hypocrisy laid bare.

"Putin - I was home watching TV the day they stormed the Kremlin."

Then surely there's a news report of this alleged storming of the Kremlin in 1991?

But of course there isn't, because no such event took place. Now who's the liar?

"Fed does not bill the Treasury for these purchases - it just credits the accounts of the sellers without deducting anything from its own balance sheet - which is equivalent to printing money"

No new money is in circulation from these asset swaps, so how is it printing money? Is money being printed when people exchange their stocks for bonds?

"and be completely sourced to the T. A university professor placing quotes around a statement from a soviet official he explicitly names on that professors own faculty webpage is meaningless. "

Yes, it is meaningless. Try putting quotes around a statement and attributing it to someone without providing a reference from where the quote came from in an academic paper. I dare you. You don't even know what a direct quote is.

"Putin's hypocrisy laid bare."

Hardly hypocrisy. Every time I'm asked for a source I've provided one, with no apologies from you. You provided a quote via link as "evidence" and are salty because your quote isn't sourced anywhere. Yes, sorry that your evidence is going to be examined for validity. I know you have no standards for your own sources of information. Any random website you find will do.

"He supplies no source for his statements even though he demands sources from others."

On Soviet rates of growth:

http://www7.esc.edu/vvernon/OferGrowth.pdf

Paper published in the Journal of Economic Literature, 1987.

On China's pre-Reform growth:

See: Gregory Veeck's "China's Geography", p. 178.

GDP in 1952 was 679 (100 million Yuan), per capita GDP was 119.
GDP in 1978 was 3624, with per capita GDP being 379.

GDP per capita more than tripled and overall GDP went up by 5x+ in the span of 25 years. Is it as fast as the post-reform period? No, but they did this under conditions of uncontrolled population growth, trade autarky, and a commitment to full employment in a country over 800M to 1B people. The economy wasn't stagnating or collapsing by any stretch.

US federal spending in 2012 was 23% of GDP, according to the Heritage Foundation:

http://www.heritage.org/research/reports/2012/10/federal-spending-by-the-numbers-2012

China says that its central level expenditure in 2011 was 11.4 trillion Yuan.
Its GDP for that year was 47.2 trillion Yuan, which is 24% of GDP, if spending is reported accurately.

http://english.gov.cn/official/2012-03/16/content_2093602.htm
http://english.people.com.cn/90778/7707270.html

So I was in error about Chinese spending, I read a report about China spending 40% of its GDP on debt.

http://qz.com/126089/chinas-spending-39-of-its-gdp-paying-off-debts/

That's poor reading on my part.

Guys, I'm just gonna say that you should listen to what anlari says. An Oxford (Or Cambridge?) PhD student knows a heck of a lot more on this than you guys. And Putin is more right than wrong on the issue as well, so cut him some slack.

Putin, you should know better than to trust economic statistics from China. Supposedly unemployment has been at 4% - with zero variation - for the past 4 years, according to their statistics. Just take everything they say with a large grain of salt.

I don't trust the numbers. I'm sure the spending is underreported. But in lieu of a better alternative, those are the numbers.

In Chapter 2 entitled "The Crooked Mirror of Soviet Economic Statistics" S.G. Wheatcroft and R.W. Davies point out that historians in reference to official economic statistics provided by the Soviet government "......have the disadvantage that political and ideological bias has distorted published Soviet government statistics to an exceptional extent. In the crucial period of Soviet development in the 1930's and 1940's the authorities selected for publication those statistics which would portray their activities in a favorable light."
http://www.melgrosh.unimelb.edu.au/documents/Crooked%20mirror%20of%20Stats%20from%20EcoTransformation%20Soviet%20Union.pdf