Posted on 11/01/2019 1:26:55 PM PDT by CondoleezzaProtege
Over the last 11 years, Russia has suffered two devaluations of the ruble and the most prolonged decline in the standard of living in this century, with the economy at the start of this year only 8.8 percent larger than that in 2008.
That means that the Russian economy has grown on average 0.88 percent a year, just over a third of the world economys growth rate, roughly half of the growth of the American GDP and nine percent of the growth of the Chinese economy over this period, official statistics show.
Not only is this period of stagnation now longer than was Brezhnevs but it is deeper as well: in the 1970s, the Soviet economy grew approximately 1.5 percent a year, nearly twice what it has managed under Putin since 2008. And if the IMF projections are to be believed, there is no end in sight.
But perhaps the most damning aspect of the numbers about the Russian economy is this: economic growth in Russia today is less than a third of the three percent achieved in the last year of Boris Yeltsins reign, and Russias share of world GDP has fallen from 3.1 percent to 2.8 percent since Putin succeeded him.
Moscow consultant Andrey Movchan says the explanation is simple: The security people in power in Russia now understand only how to give orders and receive reports; they do not understand how an economy works or how to open the way to development. Until that changes, the economy and that means the Russian people arent going to escape from stagnation.
(Excerpt) Read more at windowoneurasia2.blogspot.com ...
Thanks for the article. Ive been researching IQ since I was given an IQ test back in 2010. I will have to read this more in depth but after quickly scanning the article two things jumped out at me. One-the author accuses IQ test of being used by racist. Thats usually an attack used by liberals use against IQ tests. Two-his graphs show some people with an IQ of 80 or 90 making 130,000 or more a year. I have had to work with low IQ people in the past and with the exception of Downs actors or other anomalys I have a hard time believing any of them are capable of earning that kind of money.
[How can this IQ data explain that the United States is way down on the list of High IQ nations? And yet, so many entrepreneurial geniuses were made in America. ]
Japan is actually very highly-ranked in terms of its GDP per capita. If you subtract out the effect of American natural resource endowments, US output per capita would probably be around Japan’s. I’d say its relative lack of individual innovation has to do with its patent system, which favors domestic megacorps that file first for junk patents without any technical substance and squashes startups that file later, but actually have a working product. China is surging because of its high IQ population, combined with a dismantlement of the command economy that dictated work assignments, housing and food allowances.
[Two-his graphs show some people with an IQ of 80 or 90 making 130,000 or more a year. I have had to work with low IQ people in the past and with the exception of Downs actors or other anomalys I have a hard time believing any of them are capable of earning that kind of money.]
[How can this IQ data explain that the United States is way down on the list of High IQ nations?]
All the lowest IQ’s are in Africa? That racist just because it’s true!
Good analysis. I suspect there are a lot of farmers in China who have never seen an IQ test, so I’m not sure how the average worked out for them.
Another story for your intellectual amusement — H.L. Mencken Predicted Donald Trump.
http://www.freerepublic.com/focus/f-bloggers/3453208/posts
Some very nice discussion about the intelligence of the public — from the 1920’s.
Cheers.
“” “” The Russian economy has expanded during Putins tenure because oil prices went from about $20 when Putin took office to about $50 today. If oil prices go to $100, the Russian economy will do well again. Think of Russia as the Saudi Arabia of the north, with deserts of ice instead of sand.”” “”
This myth was many times debunked. It is not even interesting to start arguing it again. Russia has roughly five times the population of Saudi Arabia and sells about as much hydracarbons.
Following simple mathematic principles if your theory is true the average Russian has to be five times poorer than Saudi but it is not the case.
It is especially not the case if you compare above individual level. In terms of overall national economy Saudi Arabia is a midget comparing to Russia.
That comes out of a fact that oil is literally 100% of Saudi economy and only a tiny part of Russia’s.
“” “” Russia could have become a manufacturing destination the way much of Eastern Europe has. “” “”
The share of manufacturing in national GDP in Russia is 68% higher than in US. It is a manufacturing destination. Could do much better but far from worst.
“” “” The problem is the Russians kept jerking foreign investors around, to the point that investors became gun-shy. Between that and Putins kleptocratic ways, the net result is that Russia is basically a petrostate whose economy revolves around oil prices.”” “’
Now I see. George Soros, Mikhail Khodorkovsky and William Browder paid New York Times shills to write it so it must be true.
But the reality is that the ruble denominated Russian stock indice gained 25% this year alone. Russian currency gained more than 10% against the dollar this year alone.
Investors are screwed big time. To figure out what to do with that huge returns might be a torture.
“” “” Its not the average that gets you a Microsoft or a Boeing, but the guys at the very top.”” “”
It seems like Boeing run out of smart guys and who do you think work at Microsoft? Many aren’t Americans.
[I suspect there are a lot of farmers in China who have never seen an IQ test, so Im not sure how the average worked out for them.]
The issue with China isn’t a lack of good genetic material, cognitively-speaking - it’s terrible government, including the current one. However rotten the government though, the fact that they’re sitting on a gold mine of human resources means that things can only get so bad before a functional (though crappy by Western standards) leader seizes the reins of power.
[This myth was many times debunked. It is not even interesting to start arguing it again. Russia has roughly five times the population of Saudi Arabia and sells about as much hydracarbons.
Following simple mathematic principles if your theory is true the average Russian has to be five times poorer than Saudi but it is not the case.]
Like most other nations China has exactly the sort of government which fits them.
Thanks for your excellent charts.
I know it takes extra effort and time to locate them and post them, and I appreciate that.
I only watch natural gas prices in the USA, so I did not realize how much higher they are internationally.
I also had a complete black out on high oil prices from 2010 to 2015 - probably because my Exxon stock has been going down for almost 5 years.
The IQ chart is very interesting.
Just this afternoon I read a long report on a discrimination lawsuit brought against Harvard by Asian students.
Harvard won the case, but it was forced to release a lot of a data I’m sure they did not want in the public domain.
For instance - intellectual ability. The percentage of applicants who were ranked in the highest category was:
Asian applicants - 60%
White applicants - 46%
Hispanic applicants - 17%
Black applicants - 9%
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