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It's called using credit to live beyond your means. It's what enslaves people and in this case nations.
I gave up credit cards a decade ago and I have never had so much freedom. I know people who are so far in debt 30% of their income goes to just paying the interest.
Every country's debt grows when its economy grows. It means they are using finance. Same with companies. The largest debts in the world are in the richest companies. Its a good thing to increase debts while reserves and the economy grows as it means you are investing. This is getting a bit more into how non-communist/oil economies function than about Ukraine in particular. But if that's all you got "bad" about Ukraine in that it's national debts increase at a lower rate than its economy, then that's fine with me.
It's called using credit to live beyond your means. It's what enslaves people and in this case nations.
I gave up credit cards a decade ago and I have never had so much freedom. I know people who are so far in debt 30% of their income goes to just paying the interest.
I have hard time relating THIS to Ukraine to be honest.
Because say in US, when people live "beyond their means on credit cards" - they have at least nice cars, nice things/vacations and so on.
Whereas Ukrainians, that supposedly "live beyond their means" are plunging into poverty more and more.
And on top of that, thanks that *generous restructuring of IMF loans," any economic growth more than 4% ( or was it 3,5%?) goes directly to debt payment.
So the more they labor, the more it goes to debtors.
With other words, Ukrainians ( I mean regular people) are screwed for good.
But their oligarchs ( and foreign overseers) are sure thriving.
P.S. That ever-enthusiastic MP Derkach came up with the new batch of Biden-Poroshenko tapes.
So he had yet another press-conference a day ago on that one - the whole one hour and half)))
He can work as DJ already as far as I am concerned))
Derkach, sanctioned by the Trump administration for being a Russian agent of influence. His existence in Ukraine's parliament is proof of freedom in Ukraine though so they tolerate him.
Here are some Ukrainians building their colony factory in the east this summer.
They need some Russians to comment on the video to tell them how "screwed" they are and they need to go back to the times of Russian loans without any conditions to fix their broken system.
Derkach, sanctioned by the Trump administration for being a Russian agent of influence. His existence in Ukraine's parliament is proof of freedom in Ukraine though so they tolerate him.
Of course he is an "agent of influence," since he comments on a very real tapes.
Now what Americans can ( or can't) do regarding these released tapes ( or rather information provided in them) is a whole different story. But tapes ( and their content) are real - no doubt about that part.
And I'll explain to you, why they HAVE to tolerate this kind of conferences of Derkach.
Since Poroshenko'c crowd is all about "independent Ukraine," Derkach is set to rub it in their faces how *concerned he is,* ( being an MP,) of Ukraine's loss of sovereignty, being a true Ukrainian patriot)))
Of course Poroshenko and Co would love to deny it all, but as I've said - the tapes are a real deal.
Quote:
Here are some Ukrainians building their colony factory in the east this summer.
They need some Russians to comment on the video to tell them how "screwed" they are and they need to go back to the times of Russian loans without any conditions to fix their broken system.
What an inspiring, moving images and truly energizing music.
Only it's not a "factory" DKM, but yet another "great agricultural achievement" - some grain-processing facility, built in some village.
That's why Russians are not commenting ( Ukrainians as well,) - everyone understand by now what 's going on.
It was the dawn of birth of the Russian nation, and already from that point on they were attacked from both directions - both East and West.
Novgorodian nobility asked their prince and military commander, Alexander Nevsky, to protect them both from Mongols ( who imposed the hefty levy on them,) and the crusaders that were pressing from the West.
Nevsky told them that he would fight off the knights, but that they'll have to keep on paying tributes to the Mongols.
When they asked him "why," - he basically told them that Mongols didn't represent any real danger to the new nation, since they were too different. So as long as novgorodians would pay them off, they wouldn't bother them.
But if the Livonian knights were to win and to take over, that would be the end of the Russian nation.
Derkach, sanctioned by the Trump administration for being a Russian agent of influence. His existence in Ukraine's parliament is proof of freedom in Ukraine though so they tolerate him.
Here are some Ukrainians building their colony factory in the east this summer.
They need some Russians to comment on the video to tell them how "screwed" they are and they need to go back to the times of Russian loans without any conditions to fix their broken system.
What comes to mind watching that is exploitation. That's close to the sea. Raw agricultural goods being shipped out of the country in bulk, most likely to pay off foreign debt. Or just the interest on said debt.
Where the Ukrainian people get the screw is they get few if any of the income from turning the product into something else. This is exactly how a colony works. It's exploited for capitol gain but the profits go elsewhere.
A country is powerful when the people of that country have power DKM. Ukraine has no such thing as that. The few are powerful, the many have nothing.
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