Military Review

The head of the Central Bank of Russia acts more intelligently than ours (The Automatic Earth, USA)

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The head of the Central Bank of Russia acts more intelligently than ours (The Automatic Earth, USA)



Russia clearly stands apart from global insanity on quantitative easing.

The conservative policy of the Central Bank of Russia under Elvira Nabiullina is much more adequate than the wild monetary expansionism of the US Federal Reserve under Janet Yellen.

This would not be the first, but clearly a much greater shock.

That is, if the Bank of England had abducted the head of the Central Bank of Canada some time ago, but although it would be rather unexpected, it would have faded compared to the current head of the Central Bank of Russia, Elvira Sakipzadovna Nabiullina, employed by Americans. However, this seems to be a great idea, honestly.

I do not think that this will happen, do not worry if you are sure that Yellen is exactly what the Fed needs. But Nabiullina is both sharp as a razor and rigidly independent. Yellen is neither one nor the other; a cog in a car that chokes and puffs to make sure that its owners in the blissful world of American finances will get even more profits, no matter how bad things are in American society.



"Less taxes, more work." Poster 1939 of the year.


There is no need for special sharpness to play such a role, and it was chosen precisely because it is NOT independent. Or, say so - she knows how to obey.

Nabiullina is another matter. I'm not very sure that Western readers understand that this is the case, not to mention why. Not after a round-the-clock, extremely intense media campaign, and sanctions, and the oil price war, and the Ukrainian military negotiations, and slander against Putin and Russia; Yes, after all this, we do not even understand what is being played out behind this smoke screen right before our eyes.

If you want, do conspiracy theories, I would say that. Because despite a year of intense attempts to make Russia look like an empire of ineffable evil, the financial markets, yes, yes, the very ones that Yellen manipulated at the request of their owners have now turned the Russian ruble and the Moscow stock exchange into the biggest winners, at least by now. moment.

And all this thanks to the significant efforts of Elvira Nabiullina. You see, if she were a blind or frightened servant of Putin or his economic ideas, it would mean that he organized the restoration of the currency and the stock market.

Think, after all really it should make Vladimir Vladimirovich afraid. If, in addition to all other qualities, searches and actions (to consider them in a positive light or not), he could also do this: save the $ 2 trillion-dollar economy from powerful external attacks.

I'm afraid it is not so - Putin is just an ordinary mortal. One quality he possesses, however (if it were not for this, he would not have lasted for five minutes at the post) - a developed sense for someone he can trust. And he trusts Elvira Nabiullina. She manages the Central Bank from 2013, has not turned 50 for years, but she was a confidant for some time and, most importantly, Putin’s personal adviser on economics before taking her current post.

You can look at her career in Google or Wikipedia, interesting, but not too much. What really matters in Nabiullina's career are two defining moments. The moments that made her stand out - and this determined her relationship with Putin.

Of course, you can say that she is less independent than Yellen in the Fed, but who do you fool, do you think? Yes, she has an emergency telephone on her desk, and everyone rushes out of the office when Putin calls on this phone. But Yellen has the same phone numbers to communicate with the US Treasury as with Jamie Dimon and Lloyd Blankfeyne and others who lead banks, and with major dealers. Is it independence?

So, to understand the two points that determined the fate of Elvira Nabiullina. The first one described Bloomberg last month. In mid-December, the 2014 of the ruble came under a terrible attack on the financial markets. Nabiullina has already spent billions of dollars in foreign reserves to support him. Then 16 December, she, in a step that no one had foreseen, raised the interest rate in one fell swoop from 10,5% to 17%.

And that's what next - after that she did nothing. Nothing. No more foreign reserves. "Bloomberg" gives her words:

"The speculators need a cold shower."


Mario Draghi in 2012 said he would do "everything that is required to protect the euro." Nabiullina didn't even have to say anything like that.

The attack on the ruble is over. In January, she lowered the interest rate to 15%, now this rate is 13%. Nabiullina says she expects 9% by the end of the year. The ruble rose 19% against the US dollar in 2015. No other currency has such indicators.

Did Putin order her to do that? They talked about it, and no doubt - a lot. But he knows that she knows better. And he trusts her.

The second moment happened recently, a few days ago, when Nabiullina declared that Russia would not be a squirrel on the wheel of the policy of world central banks — a policy of quantitative easing. According to Bloomberg, she justifies this by saying that she sees problems in using debt to spur growth (you will have a heart attack, Krugman):

Nabiullina sees “limitations” in using debt to finance growth sources.

“The governor of the Central Bank of Russia, Elvira Nabiullina, questioned the use of debt financing as a source of economic growth, stressing the need to use long-term capital, since investments are plummeting. “We need to think about other ways to finance growth, because, in my opinion, financing for economic growth with debt is limited,” Nabiullina said at a conference in Moscow on Thursday. “There will be no long-term investment growth in Russia,” without such sources of funding as pension savings and life insurance, she said. ”

“Excessive debt burden can be not only a catalyst for development and investment, but also an obstacle,” said Nabiullina. Regardless of the high level of interest rates, the ratio of debt to Ebitda (earnings before interest, taxes, depreciation and depreciation) "is already a significant burden for companies for the entire industry." According to Nabiullina, bank loans make up 57,6% of the Russian economy. “Mandatory pension savings are crucial for long-term financing sources and the Russian capital market,” said the head of the Central Bank.


Let me add from Reuters so that there is a complete picture: The head of the Central Bank is confident in inflation, banks, the ruble.

“Acceleration of inflation ... in our opinion, is temporary. We expect a rapid decline in inflation, unless new unforeseen circumstances arise. ” Nabiullina said that the Central Bank will continue to lower interest rates to the extent that inflationary risks will subside. The bank has already cut rates twice this year. “In general, we consider the situation in the banking sector to be stable,” she said. “The banking sector maintains a substantial capital buffer and is able to withstand serious blows, even if the crisis deepens.”


She said that the stress tests of the Central Bank showed that even if the price of oil falls to $ 40 per barrel, the sector will keep the capital level above the required minimum. Nabiullina also said that the factors that put pressure on the ruble are now missing, noting that payment of foreign debts can be financed without a significant impact on the value of the ruble.

“Thus, the influence of those factors that influenced the exchange rate and inflation last year is gradually fading away ...”.


The entire attack on financial markets is "gradually fading away." The girl has a style. Here and in this Nabiullina rights. Damage sanctions? Falling oil price? Russia has already gone through all this.

In the country this year there may still be negative growth. But even so, who would you choose to deal with this where you live? Yellen, Bernanke, Mario Draghi? Or would you agree with a woman who showed that she can not only think outside the box, but also act? Who has the spirit and brains for it ?!

It may well be one of Putin’s best self-defense means if the West decides to continue to pester Russia. It seems obvious: we need to take her to work. But with the condition to serve the American people, not Wall Street. But I still do not think that she herself would want it.
Author:
Originator:
http://www.theautomaticearth.com/2015/04/russias-central-bank-governor-is-way-smarter-than-ours/
32 comments
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  1. Teberii
    Teberii 17 June 2015 14: 37 New
    +7
    Well, wait and see, I hope she can handle it.
    1. Vend
      Vend 17 June 2015 14: 48 New
      +6
      Praise from the enemy means a lot. However, Nbiulina coped with the situation, this is the main thing. Russia did not shake as in the past.
      1. The comment was deleted.
      2. APES
        APES 17 June 2015 15: 37 New
        +3
        Quote: Wend
        РџРѕС ... РІР ° Р »Р ° РѕС‚ противникР° это РјРЅРѕРіРѕ Р · РЅР ° С З РёС ‚


        R'C ‹RIC € RёР№ генерР° Р» РљР “R 'РЎРЎРЎР:

        "есл Рё РѕРЅРё РЅР ° РіРѕРІРЅРѕ РёСЃС ... РѕРґСЏС ‚, Р · РЅР ° С ‡ РёС‚ РјС ‹СЃРґРµР» Р ° Р »Рё РІСЃРµ РїСЂР ° РІРёР» СЊ

        тР° Рє С З С‚Рѕ ....
        1. Ingvar 72
          Ingvar 72 17 June 2015 16: 00 New
          +7
          Quote: APES
          "есл Рё РѕРЅРё РЅР ° РіРѕРІРЅРѕ РёСЃС ... РѕРґСЏС ‚, Р · РЅР ° С ‡ РёС‚ РјС ‹СЃРґРµР» Р ° Р »Рё РІСЃРµ РїСЂР ° РІРёР» СЊ

          Hi Andrew! hi I also do not like the fact that the American "expert" licked Nabiulin. If hayal - another conversation. They also praised Gorbachev and Sakharov ...
          1. Sid.74
            17 June 2015 16: 10 New
            +3
            Quote: Ingvar 72
            I also do not like the fact that the American "expert" licked Nabiulin.

            Below, read the excerpts from the articles in my comments and you will understand that these are completely different experts.
        2. Alexei
          Alexei 17 June 2015 18: 14 New
          0
          Quote: APES
          "есл Рё РѕРЅРё РЅР ° РіРѕРІРЅРѕ РёСЃС ... РѕРґСЏС ‚, Р · РЅР ° С ‡ РёС‚ РјС ‹СЃРґРµР» Р ° Р »Рё РІСЃРµ РїСЂР ° РІРёР» СЊ

          Unless they know in advance how we will respond to their "origin" smile
      3. The comment was deleted.
      4. valokordin
        valokordin 17 June 2015 16: 05 New
        -1
        Quote: Wend
        Praise from the enemy means a lot. However, Nbiulina coped with the situation, this is the main thing. Russia did not shake as in the past.

        Well, stop if the partners praise Zagibzadovna, then she works in the interests of partners.
    2. sub307
      sub307 17 June 2015 16: 41 New
      +1
      Yes, to cope, of course ... but: "The ruble grew by 19% against the US dollar in 2015. No other currency has such indicators." Is it "good"? Now the Central Bank is busy with having to restrain the growth of the national currency, for which it buys $ (it seems to be said to buy $ 250mln monthly, and so ...- by the "situation")
    3. The comment was deleted.
    4. sgazeev
      sgazeev 17 June 2015 20: 13 New
      +2
      Quote: Teberii
      Well, wait and see, I hope she can handle it.

      So much for the “gray mouse.” By the way, modest, tactful, but tough. love
    5. Max_Bauder
      Max_Bauder 18 June 2015 09: 41 New
      -1
      The enemy praises it means we are doing something wrong - Stalin used to say.

      In particular, the Central Bank of Russia can and can only work in one direction - in tightly linking the ruble to the dollar and raising interest on loans and leases to both individuals and entrepreneurs, resulting in debt bondage and a weak economy.

      Here it is, the CR, system, vicious circle:

      Price increase - people take loans, borrow money because they cannot afford to buy - a lot of money in the market, because everyone took money from the bank and started spending - inflation as a result of a lot of money - price increases, because the goods fell in price due to inflation return the cost.

      Like this. There will never be enough money.
  2. Finches
    Finches 17 June 2015 14: 37 New
    +7
    I do not believe in these praises, especially when I go to the store ...! But the Anglo-Saxons, as always, know better! laughing
    1. guard
      guard 18 June 2015 00: 10 New
      0
      I think a default was planned in Russia, judging by how speculators pressed, but didn’t succeed, they didn’t make a standard decision at the Central Bank, they taught them through bitter experience, 1998, 2008.
      But to look at what the West praises or not is not worth it, better pay attention to what liberals say in Russia itself, and the so-called 5 and 6 collons. On TV Day there are a lot of them, (not all, of course) one is smarter than the other!
  3. ZVEROBOY
    ZVEROBOY 17 June 2015 14: 38 New
    +7
    "The cuckoo praises the rooster for praising the cuckoo."
    tired of cursing
    1. Sid.74
      17 June 2015 14: 54 New
      +5
      This is not the edition to talk like that. Let's say, socialists and opponents of the bosses from Wall Street.
      This is how they evaluate the level of the American media.
      Western propaganda as a tool for managing entire nations in 2014 has become much more advanced than under Goebbels, The Automatic Earth reports. The media do not just create a new picture of reality, suggesting to the majority a certain point of view, which they prove without proof for the truth. In covering the Ukrainian crisis, they reached the point that they brought the world to a new cold war.

      As noted by The Automatic Earth, this is a reason to think about the value of higher education, because if it teaches something, then it’s definitely not something that people think for themselves. “We have been fooled by economic indicators for years, not only in the US, not even in the West, but around the world,” the article says. According to the author, America has already raised an entire generation of obedient "sheep." Therefore, the blogosphere is needed in order to point to media failures, not to mention politicians, the publication concludes.

      In the 2014 year, there was a Ukrainian crisis - “and try to find someone today who does not think that Vladimir Putin was the evil genius who is behind everything,” writes The Automatic Earth. And all because “our media told us that Putin is a villain. And “we” never asked for evidence, ”the author stresses.
      http://russian.rt.com/inotv/2014-12-29/Automatic-Earth-Zapadnie-SMI-viveli
  4. Wolverine
    Wolverine 17 June 2015 14: 38 New
    +1
    The main thing is no panic.
  5. ARES623
    ARES623 17 June 2015 14: 48 New
    0
    Macroeconomics is an area of ​​fundamental knowledge and painstaking calculations. Those who measure the state of the economy with store price tags have nothing to do there. You just have to believe and do your job.
  6. DobryAAH
    DobryAAH 17 June 2015 14: 54 New
    +3
    If the West praises us, then something is wrong. Swollen financial sector of the country to kill as much as possible, to increase the productive sector and competition in it. There is nothing to take from the West as an example in what it failed. To limit credits as much as possible. Those who present real projects in production should be credited at a low interest rate, but with full control and responsibility.
    1. Sid.74
      17 June 2015 14: 59 New
      +5
      Quote: Good AAAH
      Once the West praises us, then something is wrong.

      This is not the blog. They are the white crows in the West. And in general they were called by the Communists as punks! laughing

      That's about Ukraine as they write.
      I still have not seen a single Western journalist who would have analyzed in detail the role of Victoria Nuland, Jeffrey Pyatt and their European accomplices in this situation. It seems that no one is interested in the contribution of these people to Yanukovych’s dismissal and unleashing Kiev’s subsequent civil war with his people. No journalist writes about this. And should be.


      The West will find a reason to blame the other side - the militia or imagined Russians - for violating the truce and use this as a pretext for building up forces. Americans and Europeans so far unconditionally believe all the "news", so why should the situation change?
      Read more: http://ukraina.ru/analytics/20140909/1010422820.html

      Do they look like western media? fellow
    2. 27091965
      27091965 17 June 2015 15: 24 New
      +2
      Quote: Good AAAH
      Once the West praises us, then something is wrong.



      “Instability in foreign markets forces the Bank of Russia to carry out foreign exchange interventions. So, in May, the regulator bought $ 2,531 billion in the market, this is the maximum level of purchases since April 2012. The Central Bank of the Russian Federation made net purchases of currency in May-June 2014, however, their volume in each month was below $ 1,5 billion, the press service of the regulator recalls.
      The head of the Bank of Russia Elvira Nabiullina is optimistic about the level of the country's international reserves, which reached $ 500 billion, although by international standards the figure of $ 188 billion is considered a comfortable indicator. ” regnum.ru, June 7, 2015



      Or maybe it still turns out.
    3. Raven
      Raven 18 June 2015 08: 21 New
      +1
      Quote: Good AAAH
      Once the West praises us, then something is wrong.


      who is the west? left-wing marginal news agency .. here you flattered him ... if such an article appeared in NYT or on CNN ... then it was worth worrying ...
  7. b.t.a.
    b.t.a. 17 June 2015 14: 58 New
    +2
    Quote: Finches
    Zyablitsov (5) Today, 14:37 New
    I do not believe in these praises, especially when I go to the store ...! But the Anglo-Saxons, as always, know better!
    Why, why? It seems to have beautifully deduced the ruble from the peak. If inflation is also curbed nicely, then honor and praise. But the most important thing is that the Central Bank is not dependent on the state, but in fact it is a branch of the US Federal Reserve (thanks to the EBN, Gaidar and the IMF).
    1. andj61
      andj61 17 June 2015 15: 14 New
      +3
      Quote: B.T.A.
      It seems to have beautifully deduced the ruble from the peak. If inflation is also curbed nicely, then honor and praise.

      First, she introduced the ruble at this peak. There was an option - tight monetary, financial and monetary policy, keeping the dollar exchange rate, including administrative measures, plus access to fairly cheap cash loans in rubles for producers, but she did not go for it. As a result, due to the depreciation at the end of the year, Belarusians and Kazakhstanis rushed to us to purchase equipment and cars. And Nabiulina, together with the government, provided the same amount of funds to the budget in rubles, as it was before the fall in oil prices. Thus, a twofold increase in the dollar rate leveled a two-fold fall in oil prices.
      Now the question is, due to whom it was done? Due to us with you! Prices have increased by at least a third (and this is still good), and salaries have not changed, and in some places they have decreased, plus a decent reduction in jobs.
      1. Dr. Livesey
        Dr. Livesey 17 June 2015 17: 34 New
        +1
        Quote: andj61
        Prices have increased by at least a third (and this is still good), and salaries have not changed, and in some places they have decreased, plus a decent reduction in jobs.


        And the most important thing, in my opinion, is that no one will ever calculate (and if he does, he will not say) what will be the loss of population of the Russian Federation due to this crisis. How many people will die from diseases, not being able to pay for more expensive treatment and medications, from poor-quality and malnutrition (primarily the elderly and children), how much the number of suicides from poverty and hopelessness will increase, how many will “drown in a glass” and narcotic intoxication, how many couples in a difficult economic situation change their minds to give birth to children, how many couples will “take off the roof” in the struggle for survival, how many will leave the country, etc. etc. Add here the losses among Russian volunteers .... It seems to me that the figure will be very impressive. And for our country, where the demographic situation is very, very deplorable, almost every citizen, in my opinion, is worth its weight in gold. For the country is strong, first of all, with its population. Of course, this will manifest itself later, through years, decades, but this cannot be avoided. Naturally, there is also a bright side in the form of the annexation of Crimea with its population, the number of citizens will increase and at the expense of Ukrainians who decide to choose Russia as their new Homeland (although their crisis has affected / will affect in full), however, whether the dynamics will eventually become positive is a big question .. .And so far, according to the Federal State Statistics Service for the first quarter of 1, the mortality rate in Russia has increased by 2015% compared with the same period last year. I hope we will survive and recover, however, it is high time for the Russian rulers in their approaches to governing the country to move away from the principle - "Russia is big, they still give birth ..."
        1. The comment was deleted.
        2. The comment was deleted.
    2. Uncle Joe
      Uncle Joe 17 June 2015 17: 21 New
      0
      Quote: B.T.A.
      Central Bank does not depend on the state
      Some looking in the book manage to see a gesture-amulet ...
  8. AdekvatNICK
    AdekvatNICK 17 June 2015 14: 59 New
    +1
    I don’t understand nikerta in economics. Inflation, deflation, Information, Opportunity costs, Business incubation, Bootstrapping, Valorization, Invoice discounting, Intens
    Certification, Courting ......
  9. Who
    Who 17 June 2015 15: 01 New
    +3
    Cool article!
  10. Monster_Fat
    Monster_Fat 17 June 2015 15: 22 New
    +3
    Nabebulina can grind with her tongue whatever she wants, but what does she offer instead of the “credit burden”, what money does she want to use for financing? And she offers again to shift everything onto the shoulders of the population — to use pension savings and insurance. Cool, huh? Well, how exactly does she want to use pension and insurance resources to finance companies? And which companies? After all, after all, there will not be enough money from these sources. And why not create a special state bank for "reconstruction and development" and directly finance companies bypassing predatory loans?
  11. NEXUS
    NEXUS 17 June 2015 15: 35 New
    +3
    The Bank is working and the Center is "holding the blow." And time will tell further. The economy is not torn, the ruble has not become like a hryvnia. This is what is now seen in fact.
  12. Guntruck
    Guntruck 17 June 2015 15: 55 New
    +4
    The adversary always praises the one who acts in his interests. Is the delight of boasting "from there" so blindfolded that it ceases to understand such things?

    The Central Bank’s policy of squeezing the money supply and a loan prohibitive interest on industry is the main blow to our economy, which is much stronger and more important than sanctions. Recently, information has just come out that the industrial recession has begun - from where, one wonders if the sanctions have been imposed and import substitution should bloom violently? Yes, from there, from Nabiullina. Stupidly, there is not enough money in the economy. Well, plus an expensive loan, it is impossible to build enterprises with such interest.

    It is precisely the systemic liberals in the government who are ruining our economy, among which Nabiullina is the number one agent in terms of wrecking. It is no coincidence that they are constantly praised in the West, and not one Dvorkovich or the same Nabiullina was included in any sanction lists. This is the new Army Group Center, in the most modern version. First of all, the West is counting on it in the matter of undermining our economy and, as a result, of our power as such.
  13. Tusv
    Tusv 17 June 2015 16: 03 New
    0
    Nabibulin smeared them well that there wasn’t enough strength to re-attack
    A source close to the EU leadership said that the Council of Ambassadors of the European Union decided only to prolong the existing sanctions for six months - until the end of January 2016.
  14. valokordin
    valokordin 17 June 2015 16: 13 New
    +3
    Quote: Guntruck
    Guntruck RU Today, 15:55

    The adversary always praises the one who acts in his interests. Is the delight of boasting "from there" so blindfolded that it ceases to understand such things?

    Thank God, sober people have not yet transferred. Zagibzadovna will not improve things in the country, and even such a task does not face her
  15. KGB WATCH YOU
    KGB WATCH YOU 17 June 2015 16: 50 New
    +2
    Then in the USA inflation is 15+ percent and the economy -5% is falling, loans at 20+ percent rates. If we are praised in the West, then we are definitely doing everything wrong.
  16. tokens2
    tokens2 17 June 2015 17: 10 New
    +2
    There was a shock at consumers. And this is a fact.
    However ... this shock did not cause a panic. For with the fluctuation of the ruble exchange rate there was a "loosening" and aggravation of the international situation.
    So yes, the photo for the article is accurate.
    But consumer shock has not disappeared. And it has already been “laid down” in the normal planning of consumer spending by ordinary citizens. Belief in long-term planning and stable growth has been undermined. For a considerable period.
    The goal of the West has been achieved. Again, please the Russians with a "contrast" type shower for quenching.
    And everything else is from the evil one.
    I would see what this journalist would write about a possible “deviation” of the dollar or the euro 2-3 times. Yes, even for an hour. Or for a couple of minutes.
  17. akudr48
    akudr48 17 June 2015 17: 14 New
    +2
    The pluralism of this portal is impressive.

    Today, Kasatonov expressed more clearly about the Central Bank who is the Central Bank in Russia and who is Sahibzadovna in charge, see http://topwar.ru/77117-sankcii-germana-grefa-protiv-rossii.html#comment-id-46360
    12

    But there is already a correction from a respected Western expert, in a different tone that everything is OK, "do not worry be happy." Like, and worse seen in central banks.

    And what to do to the poor layman, who to believe here, after all, Western experts will be better than ours, especially if they are told about them by the Air Force.

    At the same time, it is better not to remember about an almost 2-fold increase in prices in the country due to wise backwardness ...
  18. Stinger
    Stinger 17 June 2015 17: 37 New
    +1
    I like the way she deals with unscrupulous banks. Bravely and decisively selects licenses. For this, they simply killed in the 90s, if we recall the death of the first deputy chairman of the Bank of Russia Andrei Kozlov, who was in charge of the Central Bank's licensing issues, which was committed in Moscow in Sokolniki.
  19. Vladimir Vasilich
    Vladimir Vasilich 17 June 2015 17: 46 New
    0
    We do NOT live long and this is the most important thing. But how else could this advantage be transformed into economic (industrial) growth?
  20. DobryAAH
    DobryAAH 17 June 2015 17: 58 New
    0
    My friends, the situation is pre-war, there is not enough money. And who else to rob, you and I, it doesn’t work out differently. I myself am ready to personally sit on bread and water and not hack until we chop the western hydra.
  21. Seventh
    Seventh 17 June 2015 17: 58 New
    +1
    Enemy stuffing. Everywhere, from Washington to Tokyo, there’s a quantitative softening and all of them are fools, but it was Nabiullina who found the “philosopher's stone” ..)). Funny no more ..
  22. DobryAAH
    DobryAAH 17 June 2015 18: 28 New
    +1
    Quote: Seventh
    Enemy stuffing. Everywhere, from Washington to Tokyo, there’s a quantitative softening and all of them are fools, but it was Nabiullina who found the “philosopher's stone” ..)). Funny no more ..

    Not softened by a good life. Due to large debts and loans, low inflation, few jobs, so grandmas draw. But they fall on the stock market, bubbled up. And if rates increase, then they will trample interest on debt securities, creditors will have to pay more. My forecast is that neither today nor in the foreseeable future will the Federal Reserve raise rates. They will kill creditors, that is, us, with China. But this will not go to their place.
    1. Seventh
      Seventh 17 June 2015 18: 38 New
      +2
      Generally speaking, they soften strictly according to Keynes, whom no one has yet refuted. In order to grow the economy. If everything, in this paradigm, is done accurately and meticulously and purposefully (imperative - economic growth), the desired result is achieved, as it was previously in reality in the USA and Japan. Another thing, the symptom is the negative key rates, that the “growth bubble” has already been inflated and the problem can be solved, but in other ways - by new colonization and capture of sales markets ... what the United States is now doing in the Asia-Pacific region and with the old Europe .. )))
  23. DobryAAH
    DobryAAH 17 June 2015 18: 43 New
    +2
    Quote: VladimirVasilich
    We do NOT live long and this is the most important thing. But how else could this advantage be transformed into economic (industrial) growth?

    Who are we? Russia was credited in the West at low interest rates and invested in good debts by banks and corporations. Government debt, but relatively small. And bank loans were ineptly consumed by imported consumer goods. Many now cannot give loans, banks want liquidity at the expense of taxpayers. Western rake.
  24. DobryAAH
    DobryAAH 17 June 2015 19: 06 New
    +1
    The mitigation model does not work for them. Therefore, they are printed. Until they unleash a pyramid of debts, derivatives, nothing will come of them. And we must deal with a real increase in production, rather than inflating the financial sector.
  25. Victor p
    Victor p 17 June 2015 20: 07 New
    0
    Yes, it’s okay to sing praises, who managed to, the capital acquired by overwork - doubled in 14g, now they are dancing from the barrel, so nothing serious has been done.
    But there is one piece of news, and that about 7,5 trillion rubles are pumped into the economy, the whole question is in the mechanism and percentages.
    I won’t guess, but if everything is cleverly done ...
  26. Alex250834
    Alex250834 17 June 2015 20: 29 New
    -1
    yes, lads, Elvira - this is not Hakamada for you !!!!!!!!
    Respect in full !!!!!!!!!!
  27. Dry_T-50
    Dry_T-50 17 June 2015 21: 48 New
    +1
    Well, in December they wanted to break it
    1. Raven
      Raven 18 June 2015 08: 22 New
      +1
      this is only evidence that the hotel wishes are momentary and the majority do not look ahead for a month ...
  28. oldzek
    oldzek 17 June 2015 22: 33 New
    0
    I have a feeling that all of her critics have at least two higher educations and they are ready to take her place, but I don’t remember Krylov’s grandfather. Judge my friend, not more than a boot.
  29. Urri
    Urri 18 June 2015 12: 42 New
    0
    And Kudrin today again broadcasts about the fall in April-May of the Russian economy. Although no one asked him anything. Someone can see you need to play on the slide.
    No wonder there are rumors that Teftu was tasked to return Kudrin to the chair of the Minister of Finance of Russia at any cost.