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Russia says U.S. no longer world's superpower

Original post made by a, Adobe-Meadow, on Jun 8, 2008

Russia's new President Medvedev says U.S. bit more than it could chew. Russian, btw, happens to have the largest cash reserves i, the world. The U.S., uh, happens to be billions in debt. The opposite and reverse of World War II between Europe and the U.S. has happened. The U.S. is now the world's beggar and borrower. Folks, the U.S. is no longer the world's darling. It's more like the U.S. is the world's thorn. Web Link

ST. PETERSBURG, Russia — In his first major economic speech since becoming president, Dmitri A. Medvedev said Saturday that the world might be in the throes of the worst economic crisis since the Great Depression and that a newly revived Russia could offer solutions to a systemic crisis that has underscored America’s shortcomings.

Mr. Medvedev, who was inaugurated on May 7, spoke at the St. Petersburg International Economic Forum, an annual event since the 1990s that was thrust into the spotlight last year as Russia’s answer to rival forums held in Europe.

It was also a showcase for the former imperial capital of St. Petersburg, hometown of Prime Minister Vladimir V. Putin and Mr. Medvedev. The forum opened Friday evening with a free concert for city residents.

In a keynote address that underscored his knowledge of corporate terminology, Mr. Medvedev spoke of “economic egoism” and “economic nationalism,” and he made specific reference to the United States overreaching its economic capabilities.

“It turned out to be an illusion that one country, even the most powerful, could take upon itself the role of global government,” he said.

“Moreover, namely, the dissonance between the formal role of the United States of America in the world economy and its actual capabilities was one of the central causes of the current crisis. However big the American market, and however reliable the American financial system, it’s not capable of replacing global goods and financial markets.”

Comments (5)

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Posted by R Wray
a resident of Palo Verde
on Jun 8, 2008 at 4:57 pm

"The U.S. is now the world's beggar and borrower."
Don't you wish.

Like this comment
Posted by Walter E. Wallis
a resident of Midtown
on Jun 8, 2008 at 8:02 pm

The Soviet investment in our universities and politicians has paid off for them.

Like this comment
Posted by Paul
a resident of Downtown North
on Jun 9, 2008 at 12:13 pm

Yep. Bush looks deep into the soul of Vladimir Putin, an unreconstructed KGB officer, and likes what he sees. Wonder how much he collected.

Like this comment
Posted by Walter E. Wallis
a resident of Midtown
on Jun 9, 2008 at 12:41 pm

Hey, this is the talk to your enemies that is so popular nowaday.

Like this comment
Posted by Palo Alto Resident
a resident of Another Palo Alto neighborhood
on Jun 11, 2008 at 5:39 pm

How does this thread supposedly fit the forum category "Around Town"?!?!?

Some people don't bother to check before posting, obviously.

Sorry, but further commenting on this topic has been closed.

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