[lbo-talk] Investing in Russia?

[jeff sommers]

No doubt Putin is much better than Yeltsin.  The point is too obvious to
belabor, although economic liberals still pine for the latter...  But,
regarding oil revenues, I think it still is being stolen, just a different
group of rewardees loyal to the state... Many KGB were pissed off that a
bunch of Jews ran off with the country's patrimony, when they wanted to grab
it for themselves.  Inter-gang warfare.  Maybe Chris has more insights on
this.  At the same time, Putin does seem to entertain allying with Germany
and creating a Russo/German oil/euro bloc, and frequently meets with
Schroeder to discuss it.  So far the ECB in Frankfurt ruins the party by
telling them the euro could not handle the upward pressure.  Hard to tell if
Putin is serious or just does it for late-night laughs imagining it makes
the US Treasury break out into a cold sweat...

Jeff

Message: 2
Date: Mon, 3 Jan 2005 11:04:56 -0500
From: Doug Henwood <dhenwood at panix.com>
Subject: Re: [lbo-talk] Investing in Russia?  Some LBO folks have

    asked
To: lbo-talk at lbo-talk.org
Message-ID: <p06200707bdff1d86e09c@[192.168.1.101]>
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Chris Doss wrote:


>It was a combination of high oil prices, increased
>domestic demand after the devaluation of the ruble,
>and, yes, the "vertical of power" and the successful
>cowing of the oligarchic class.

What would the Yeltsin gang have done with the higher oil revenue?
Stolen it, right?

Doug