This is an eye opener — Russ­ian Prime Min­is­ter Vladimir Putin treats his cronies like lit­tle chil­dren in the fol­low­ing video, (hat tip: Hugh Hendry), in par­tic­u­lar, Magna part­ner, Russ­ian bil­lion­aire, Oleg Deripaska.

Accord­ing to Hugh Hendry (from this month's Eclec­tica Fund Let­ter):

Fur­ther­more, the big Russ­ian play­ers like Rusal are under intense pres­sure from Putin not to cut capac­ity (check out ‘Putin bitch slaps Deri­paska’ on http://www.youtube.com/watch?v=PprlM5R3Hbg), and are rumoured to be sur­viv­ing only by not pay­ing their elec­tric­ity bills.

As I watched this video, I real­ized that things are dif­fer­ent in Rus­sia. Its a fore­gone con­clu­sion that Rus­sia is a com­mand econ­omy, but to actu­ally see it in action is revealing.

Read more from the author/contributor here.

Comments

Comments are closed.