Thomas Piketty on the Russian kleptocracy

Discussion in 'Economics and Finance' started by fuz al-nufi, Sep 23, 2017.

  1. fuz al-nufi Bar Regular

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    Thomas Piketty on the Russian kleptocracy

    [IMG]

    Alexander Zemlianichenko/AP


    Russia is widely thought of as an oligarchy run by President Vladimir Putin and a handful of billionaire cronies whose main accomplishment is looking out for their own financial interests. In a new paper, three economists say forensic evidence bears that out.

    Economists Thomas Piketty, Filip Novokmet, and Gabriel Zucman found that income inequality is as great in Russia as the United States, with the top 1% of earners garnering upwards of 25% of national income, well above China and other former communist countries like the Czech Republic.

    An offshore treasure trove: Piketty and Zucman have studied rising income and wealth inequality all over the world, and what makes Russia unique is how much cash is held offshore. They estimate that nearly $1 trillion in Russian assets is held outside the country, likely by a handful of oligarchs, most of which doesn't show up in official statistics.

    The exploited masses: The Russian experience is in stark contrast to economic development in China, where income inequality has also exploded, but where the typical citizen's wealth and income has risen significantly as well. This research shows that the average private citizen's share of the national wealth has not increased whatsoever since the fall of the Soviet Union, despite the huge transfer of assets from the public sector to the private. The authors write:

    What is particularly striking is the very low level of recorded financial assets owned by Russian households. ... In effect, it is as if the privatization of Russian companies did not lead to any significant long-run rise in the value of household financial assets, in spite of the fact that it is now possible to own financial shares in Russian firms, which seems especially paradoxical. In our view, the main explanation for this paradox is the fact that a small subset of Russian households own very substantial [sum of] unrecorded financial assets in offshore centers.

    In other words, the uber wealthy in Russia have as much or more assets stashed overseas than the rest of the population combined holds in the country itself.

    Why it matters: The Russian system rests on the extraction of natural resources, primarily oil and natural gas, which is sold abroad by oligarchs. They use the proceeds to invest in foreign real estate and other assets, rather than in productive ventures at home that would create jobs and allow the median Russian to share in that prosperity.

    http://gabriel-zucman.eu/files/NPZ2017.pdf
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  2. fuz al-nufi Bar Regular

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  3. Angroid CyberSperg 1138

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    (((Zucman)))
    Enuf said

    Why don't he tells the reader about the causes for income inequality in post Soviet Union Russia, namely (((oligarchs))) funded by Rockefellers & Rothschilds & the role played by Yeltsin "reformers" like Chubais with the generous assistence of the (((Harvard Boys))) & (((Jeffrey Sachs))).

    Those are the real reasons for income inequality which plagues Russia today and has very little, if anything, to do with Putin.
  4. fuz al-nufi Bar Regular

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    u do realize putin just replaced the old oligarchs with new ones. he owns a hundred million dollar yacht he received as a gift from one of his chosen jews.

    [IMG] - gifted from (((roman abramovich))), one of his closest friends.

    russia rlly was better off under communism. now its just a gangster oligarchy.
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  5. Angroid CyberSperg 1138

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    Putin himself is reasonably above board, but his real mistake and sin is not doing a Stalin on at least 1/2 of these (((oligarchs))) and getting rid of the shitliberal Globalists in his own Gubbermint. He's too liberal, trusting and forgiving.

    There are many good reasons why Comrade Stalin gulagged a bunch of people, even if many mistakes were made and innocent people also got caught up in the mess. A low-level Civil War was raging in the Soviet Union between the (((Trotsky))) Global Kikery faction and Comrade Stalin. Stalin managed to clean out a bunch of them before they eventually managed to poison him.

    Today (since the early 1990's) these kikenvermin :jew: are back and moar housekeepin' be's required.
  6. fuz al-nufi Bar Regular

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    shuld also be noted that putin wears 4000$ silk tracksuits like some oriental emperor.
  7. fuz al-nufi Bar Regular

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    comrade stalin lived humbly. putin is a gangster. and anyone who thinks hes some saviour of europe or the white race is a moron.
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  8. Bluto Drunken lout

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    Silk tracksuits?
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  9. Bluto Drunken lout

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    Interestinkly, he had a hell o' a library. No, really.
  10. fuz al-nufi Bar Regular

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  11. Ozzy Bon Halen LOLworthy Threadmonkey & Critic Of Texas Dentistry

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    I don't think that I would trust anything printed by (((Vanity Fair)))...seriously.

    As far as Picketty goes, I think he's just another economics writer trying to make a name for himself as a populist champion of the long suffering, financially preyed on underclass. This well worn path has been tread on many, many times before by the likes of Matt Taibbi, Nomi Prins, Charles Ferguson, Chrystia Freeland, Arianna Huffington, etc etc. I've read books by all these people (I think Nomi Prins is easily, hands down the best of the bunch,) but I never really did "get" Picketty. But even Chrystia Freeland admits in her book Plutocrats that the oligarchs were mostly a bunch of Jews that had no problem ripping off Russia because they considered themselves to be outsiders.

    The whole "transfer of wealth" by giving stock and shares in companies 'back' to the people was a shitshow from day one. Most of the slavs had no idea what this stuff was or what it was worth and sold whatever they were given at firesale prices to people who did know and greedily bought it all up en masse.
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  12. fuz al-nufi Bar Regular

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    Putin is an oligarch as r his Jewish oligarch buddies who he had replace the old oligarch Jews. Got a 100 million dollar yacht from one of Jewish best buds. Also everything in the silk gym pants article is true and easily verifiable simply by observing the photos of Putin wearing the ridiculous gangster chav oriental emperor sweatsuit.
  13. fuz al-nufi Bar Regular

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    Putin is nothing but a ridiculous gangster asshole. and everyone who thinks he's some 'man of the people' should be sterilized so their retarded genes cannot reproduce.
  14. Angroid CyberSperg 1138

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    @Ozzy Bon Halen

    You make an interesting point here that deserves elaboration.

    Chrystia Freeland's fambly origins are Banderist (Western Ukrainian) afaik. They are gr8 Third Reich enthusiasts and have extensive experience in dealing with (((kikenvermin))) jews so such truths (how oligarchs are mostly a Jewish Ripoff cabal) would be hard even for her to deny.

    Ironically these Banderists are currently loosely allied (in a partnership of convenience for both sides) to these same Jewish Oligarchs whom they despise. (The feeling is mutual.)

    There must be a fascinating story buried somewhere in the OSS / CIA / MI6 archives about how they shipped out Banderists, Nazis and all sorts of freaks by the boatload to the US & Canada in order to prepare & condition these people for future endless war on Eurasia.
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  15. Ozzy Bon Halen LOLworthy Threadmonkey & Critic Of Texas Dentistry

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    I'm reading a book right now called Once Upon A Time In Russia: The Rise Of The Oligarchs. According to the author, after Putin took over he invited 18 of the top Russian oligarchs to Stalin's old home in Moscow for a meeting. And he allegedly told them something along the lines of 'you can keep the money you stole, but don't fuck with me.'

    Actually, I didn't know that about Chrystia Freeland. She's kind of like Nomi Prins, she's an ugly broad but she is hella smart.
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  16. Angroid CyberSperg 1138

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    @Ozzy Bon Halen

    That story was already doing the rounds on the Interwebz back in the early 2000's already, and I suspect it is true.

    The story essentially went that a kind of grand bargain was struck between the siloviki (Russian Security Services Royalty) & the thieving (((Kikes))) where the kikenvermin would continue running the state enterprises they stole but that they were going to be working in the National Interest + most importantly, THAT THEY MUST STAY OUT OF POLITICS & in return they won't be molested.

    Of course, not all of the (((kikenvermin))) wanted to accept such an arrangement. The biggest king (((rat))) in the nest, Khodorkovsky (a former Commie Party Yoof League organiser) who had serious connections and money backing him (Rothschilds) decided he was enough of a boss to depose Putin. (Obviously at the behest of Rothschilds, the CFR, Illuminati and all their Satanic associates.)

    That gamble failed miserably after he was arrested at an airport and Al Caponed.
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