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 âPutin bitch slaps Deripaskaâ 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.
