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 Post subject: Book review: Inside Russia's default
PostPosted: Sun Feb 20, 2011 1:00 pm 
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Inside Russia's default -> http://www.politico.ie/index.php?option ... Itemid=884

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Lorraine Courtney reviews Martin Gilman's No Precedent, No Plan: Inside Russia's 1998 Default.

Back before the global economic slump, the IMF was hastily careering down the path towards irrelevance. But that was then. Now, it is back in town, right at the front line of bail-out packages, wrangling over government spending and tax reform.

The IMF's missions are always extremely political and their success fundamentally unpredictable. This is the main message in Martin Gilman's tale of Russia's erratic, often ineffectual, economic reforms in the period between the collapse of the Soviet Union and its default on its domestic debt.

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 Post subject: Re: Book review: Inside Russia's default
PostPosted: Sun Feb 20, 2011 2:51 pm 
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The IMF were completely ineffectual in Russia in 1998. The billions they injected were stolen by the Yeltsin regime and the currency dropped by 80% in the space of a few months. Russia recovered, despite the IMF, for one reason only and that was because oil hit $100.

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 Post subject: Re: Book review: Inside Russia's default
PostPosted: Thu Mar 03, 2011 9:53 am 
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JohnnyTheFox wrote:
Russia recovered, despite the IMF, for one reason only and that was because oil hit $100.

The only reason the russian economy ever does anything is oil prices.


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 Post subject: Re: Book review: Inside Russia's default
PostPosted: Thu Mar 03, 2011 10:31 am 
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Can anyone link to that talk given by the Russian guy in Wynn's hotel a couple of years ago? As I recall he talked about what things were like on the ground for the Russian middle classes during the collapse, and the role of oil in the whole disaster. (he had some theory about it)


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 Post subject: Re: Book review: Inside Russia's default
PostPosted: Thu Mar 03, 2011 1:51 pm 
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roc wrote:
Can anyone link to that talk given by the Russian guy in Wynn's hotel a couple of years ago? As I recall he talked about what things were like on the ground for the Russian middle classes during the collapse, and the role of oil in the whole disaster. (he had some theory about it)


I think you are looking for Dimitro Orlov -> http://www.indymedia.ie/article/92433. Feasta usually post the videos on VIMEO

http://vimeo.com/5592536

http://vimeo.com/5699779

http://vimeo.com/feasta/videos


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 Post subject: Re: Book review: Inside Russia's default
PostPosted: Thu Mar 03, 2011 2:25 pm 
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BoyRacer wrote:
roc wrote:
Can anyone link to that talk given by the Russian guy in Wynn's hotel a couple of years ago? As I recall he talked about what things were like on the ground for the Russian middle classes during the collapse, and the role of oil in the whole disaster. (he had some theory about it)


I think you are looking for Dimitro Orlov -> http://www.indymedia.ie/article/92433. Feasta usually post the videos on VIMEO

http://vimeo.com/5592536

http://vimeo.com/5699779

http://vimeo.com/feasta/videos

Thank you Boyracer. Yes, that's the guy. It really stuck in my head how he described the Russian collapse and its impact on the Russian middle classes from 5.20 in that first vimeo video there. While his theories on oil resource depletion may be somewhat tenuous and driven by ideology, certainly, the geo-politics of oil, and the unpredictability of those geo-politics is a major factor in the phenomena he is describing.


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