Over the last couple of weeks, protests have appeared, en masse, in Vladivostok due to an economic crisis which is crippling Russia. Putin has formidable opposition from party leader Gennady Zyuganov and chess legend Gary Kasparov. Russia is experiencing the downside of capitalism which is high employment and inflation. Could this mean that revolution is not too far away?
The bottom line is that Russia was never ready for capitalism, and clearly, Putin has lost much of his momentum. He does not have answers, because the government does not know how to respond.
The current economic crisis in the U.S. will correct itself and markets will self-regulate. The Russian people are unfamiliar with free markets and laissez-faire economics. Communism offers them basic necessities, mainly a stable job and low-priced goods. I am not pro-communism and have always embraced free market capitalism, but I also understand when governments can no longer sustain an economic system with a broken infrastructure.
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