liberal logic: let’s go back to the stone age.
economics 101: the day the world cuts back its oil consumption, that is the day when the real world wide depression commences.
Hmmmm...
Vladimir Putin has vowed to curb Russia’s growing inflation and cut oil industry taxes as he became the country’s new prime minister.
The nation’s former president, in a speech to parliament, said his administration wanted “single-digit inflation within a few years”.
He went on that it was part of a plan to make Russia one of the world’s economic leaders by 2020.
Investors have said inflation is Russia’s biggest economic problem, with price rises running at 14.3% in April on an annualised basis and growing fears of labour unrest.
Russia is in its 10th year of rapid growth and Mr Putin said it would displace Britain this year as the world’s sixth biggest economy based on purchasing power.