Putin says U.S. is "parasite" on global economy

LAKE SELIGER, Russia |
Mon Aug 1, 2011
http://www.reuters.com/article/2011/08/ ... 2R20110801

(Reuters) - Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls."

If we are parasites, they are ________? Fill in the blank.

we learned most of our monetary tricks from the UK - which I think is a bigger parasite.
(Russia isn't that far behind in the race)

Russia is actually making a lot of money off us being a parasite. If we lived within our means, and cut our oil consumption dramatically, Russia would be a debtor nation. $100 oil is keeping Russia afloat.

I think he may be referring to the fact that the dollar is the reserve currency of the world. In that sense, he may be perfectly correct. It's a big part of what has allowed us to consume such a big portion of the world's resources for so long.

Some some world leaders verbalize their perception of the US, but the fact is that many countries have a less than favorable impression of the US for its handling of debt. Printing more money is not the answer.

AspenValley wrote: I think he may be referring to the fact that the dollar is the reserve currency of the world. In that sense, he may be perfectly correct. It's a big part of what has allowed us to consume such a big portion of the world's resources for so long.

Quick, everyone, buy Yuans and gold.

AspenValley wrote: I think he may be referring to the fact that the dollar is the reserve currency of the world. In that sense, he may be perfectly correct. It's a big part of what has allowed us to consume such a big portion of the world's resources for so long.

Agree - He's setting the stage for the dollar to be removed as the reserve currency. The "double dip" will look like a picnic when that happens.

SS109 wrote:

AspenValley wrote: I think he may be referring to the fact that the dollar is the reserve currency of the world. In that sense, he may be perfectly correct. It's a big part of what has allowed us to consume such a big portion of the world's resources for so long.

Quick, everyone, buy Yuans and gold.

I think you're kidding, but you shouldn't be. That's good advice...

towermonkey wrote:

SS109 wrote:

AspenValley wrote: I think he may be referring to the fact that the dollar is the reserve currency of the world. In that sense, he may be perfectly correct. It's a big part of what has allowed us to consume such a big portion of the world's resources for so long.

Quick, everyone, buy Yuans and gold.

I think you're kidding, but you shouldn't be. That's good advice...

I am more low budget and stocking up on brass, lead, and sulpher.

I saw my Costco has expanded their survival food stores now offering two brands.

And the stock market continues to fall. Sounds like some French banks took on too much bad Greek debt. Bailout or let them fail?
I am sure Obama will offer to bail them out.