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To: Alter Kaker

Russians know that 50% of USA GDP is produced in financial sphere; that average household income in the USA is same as in 1959 but today 25-30% of this income is subsidized by the state. Situation in 1959 was much better because people and state were not burdened by debts unlike today. Accumulated potential for recession is bigger than in 1929.


19 posted on 02/20/2015 7:39:59 AM PST by Cossak
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To: Cossak
Russians know that 50% of USA GDP is produced in financial sphere; that average household income in the USA is same as in 1959 but today 25-30% of this income is subsidized by the state. Situation in 1959 was much better because people and state were not burdened by debts unlike today. Accumulated potential for recession is bigger than in 1929.

You might tell Moody's, Standard & Poors and Fitch, because they're all of the opinion that the United States is a considerably better credit risk than Russia. Russia has the oil and gas industry and essentially nothing else. Since Putin took over, Russia has failed to take even basic steps to diversify its economy - instead using declining energy revenues to pay for welfare projects for the rest of the country.

50% of the US GDP does not come from finance - the actual figure is approximately 15%. And US household income is not the same as it was in 1959. Other than that, tovarich...

20 posted on 02/20/2015 2:52:18 PM PST by Alter Kaker (Gravitation is a theory, not a fact. It should be approached with an open mind...)
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