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To: cunning_fish

I think your CIA data is outdated. I thought just like you, Russia is better off then Communism. But their society ended up as an oligarchy where top 10 percent hold most of the wealth and the bottom 90 live paycheck to paycheck. People who do banking in Russia point out only 10 percent have bank accounts because they make enough to do so and use it to buy luxury goods. The rest of the Russians are broke. Granted on a macroeconomic level Russia has a surplus from trade, and plenty of resources to sell to raise money.


14 posted on 12/02/2010 12:34:54 AM PST by Fee
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To: Fee

>>>>>>>>>But their society ended up as an oligarchy where top 10 percent hold most of the wealth and the bottom 90 live paycheck to paycheck>>>>>>>>>>>>>>>>>
Check your facts again. US and Russia are now in the same class in terms of wealth distribution. Due to a GINI index as the most recognized and credible on an issue US is holding 42th place and Russia’s is 52th. Note, # 1 (Namibia)is least ‘equal’ and # 132 (Sweden) is the most ‘equal’. So if you are a socialist for whom ‘ineqality’ is a problem, US is in bigger trouble than Russia.

As for bank accouts people in Eastern Europe distrust banks. They prefer to dig their money in a garden or invest to a jewerly or real estates. They also like clothes and cars which is more expensive than it is rational to afford for their income(an average car sold in Russia was more expensive than average sold in US for 2007 despite the fact that average American income is much higher).


15 posted on 12/02/2010 2:10:21 AM PST by cunning_fish
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