DISQUS

Mostly agreed, except for two points:

1. The most eye-catching remark in Putin’s speech was clearly his promise to reduce the tax burden on the oil sector ‘to encourage oil production’.

Oil production decline is not a major issue at a time when the world has passed its oil peak and prices continue to rise fast. In fact if anything it would be a better idea to increase taxes even further so as to slow down extraction rates so as to get a better hand in the future. In any case a much more agreeable use of such a tax cut would be to subsidize wind, solar and nuclear power so as to leave over more oil for export purposes and contribute to developing a modern green economy.

2. "Making the (large) assumption that the worst is over in global credit"

That is indeed a very large and IMO flawed assumption.

I wish La Russophobe would make a post about me. Since far more people read LR than Da Russophile, the number of people exposed to DR's viewpoint will bloom. I actually try to goad her to it but she said I was "insignificant". Oh well...