Dirty Money is Making Russia Rich
Dirty (Oil) Money is Making Russia Rich -
Russia is flooded with cash that comes for high oil prices so high. And the walls of the rich and corrupt are starting to overflow to the little fellow in the distant outposts.
For seven years, Russia has seen 6% growth AFTER inflation. There is now a consumer class in Russia and they can’t wait to go shopping.
For as little as $1000/month a family of four can live somewhat comfortably…and this salary is within reach of about 30% of the population and continues to grow.
In 2002, 12% of all Russians had a cell phone. In 2006, 88% of Russians have a cell phone. When I was there in the early 90s everyone said, "What’s a cell phone?"
New foreign car sales has jumped 60% since a year ago. 5 years ago, Russian sailors used to come to the port of Niigata and buy used Japanese cars to take back to the motherland to sell – I helped arrange for a bunch of these.
As a result of this soaring economy – Prez Putin is enjoying a 70% approval rating.
Things are getting better in Russia…or so, it seems.
What do you think?
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