Been Down Since I Began to Crawl
April 9th, 2009 | No Comments | Source: EconomistRussian President Dmitry Medvedev has taken a page out of FDR’s playbook with weekly televised talks to his countrymen. Problem is, few of them are watching.
It seems they’ve tired of his message, which amounts to a remix of Albert King’s woeful lament, “if it wasn’t for bad news, I’d have no news at all.”
A recent poll revealed for example, that a third of Russians expected to lose their jobs in the immediate future.
February’s industrial output, including oil and minerals, was down 13.2% versus the same month last year, and manufacturing output shriveled a whopping 20%, according to the Economist.
Meanwhile wage arrears, the most visible symptom of Russia’s economic chaos in the 1990s, are creeping up again. State-approved reports suggest that more than 500,000 people had pay withheld temporarily last month, which is higher than at any point in 4 years.
Given these are state-approved reports, one can only imagine how bad the matter has actually become.
Medvedev has even taken the unusual step of appealing for help from the oligarchs. They have “a moral role” to preserve jobs, he stated while reminding them how easily they amassed wealth during different economic times.
“It’s time to repay debts, moral debts,” he said in his last chat.
“If a person really has become a businessman, he knows how to value his employees.”
Then he waded directly into the fray, calling it “unacceptable” that billionaire Mikhail Fridman’s Alfa Bank was threatening to close down billionaire Oleg Deripaska’s Basic Element, laying off tens of thousands in the process, if the latter didn’t repay an overdue $650m loan.
The oligarchs buried the hatchet the next day.




Pope Benedict XVI commands respect and reverence from his flock of 135 million Catholics in Africa, and that showed during his recent visit to Cameroon and Angola.
He said this on a continent where 20 million have already died from AIDS and even more than that are HIV positive.
In Civil War days, people called it soldier’s heart. By World War I, the phenomenon had been dubbed shell shock. For the Second World War, the moniker was battle fatigue, and now it’s post-traumatic stress disorder.
Iran’s president Mahmoud Ahmadinejad hasn’t been quite so cocky lately.
But Khatami couldn’t reign in the fractious reformists that swept into power with him, the movement was eaten alive by an entrenched conservative bloc, and next thing you know, Ahmadinejad –exasperatingly flaky, populist rants and all—was the new game in town.
Sad though it may be, such an event isn’t particularly newsworthy in most of Europe, but
Normally, getting Europeans to agree on anything is dicey but right now just about everybody over there is delighted the Big O made it all the way.
Funny though, the Big O didn’t even mention the word “Europe” in his inaugural address.
And we can only guess how many times he’s turned down requests to visit Germany’s beleaguered Angela Merckel, who is up for re-election and would love to catch some stardust from the man who drew 200K in Berlin last summer.
And as for cooperation on the economic crisis, Josef Braml, an officer in Germany’s Council on Foreign Relations managed to splutter that the matter will trigger a “heavy burden-sharing debate” between America and its European allies.
Just 3 days after the inauguration, the FDA green-lighted Geron to carry out the nation’s first clinical trial of stem cell technology.
All that leaves bin Laden and al Zawahiri trying to exploit the news rather than making it.











