[Princeliberty]

I wish Russia well. However, heed should be taken
to the fact that oil exports cannot drive
a prolonged growth in the GNP.
The world is heading toward a depression
and with it demand for oil will drop
and the price of oil will zoom down.
So the value of the exports of oil of Russia
are so going to taking a hard drive down.

But certainly Putin was right to cut taxes,
just going to take a lot more postive steps
to put things on a truly solid footing.

[McGavin999]

Well, you're absolutely right about that, but if the proper steps are taken to invest the money in other industries they could well by-pass the economic problems of europe. As to a world wide depression, I'm not so sure about that. Many of the problems being experienced in the EU countries are due to over-regulation, over taxation, and rediculous social payments (not to mention a huge influx of immigrants who are NOT assimilating into the local cultures).

I don't expect the US to experience 1990's style growth, but then I never really believed much of it was founded in reality. I expect a reasonable and sustained growth in the US.

[RussianConservative]

True but Russian economy now more then oil...expending. Oil was fuel to start wheel rolling.