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. Last Updated: 07/27/2016

Promises, Promises

At Thursday's cabinet meeting, attended by the president [Yeltsin], Viktor Chernomyrdin made an exceptional statement: "The Russian government cannot lose in the elections for the head of the government." According to Chernomyrdin, Yeltsin's best propaganda tool will be to improve the lives of common Russians.


It seems that our leaders are so far confident that this can be achieved in the next two or three months ...


[As of March 1], the state's pay arrears are up to 12 trillion rubles ($2.5 billion). And it is unclear where the money is going to come from. However, in its statements, the government is promising to make everything up to everyone ...


In addition, the prime minister has been insisting on stepping up housing construction for the middle class -- which so far does not exist in Russia -- and solving the problem of employment -- which does.


All the while, the government is intending to stick with tough finance policy, refusing to sink to the level of primitive populism. "We do not have the right to ignore fundamental market instruments in running the national economy," Chernomyrdin decisively declared ...


It seems the prime minister has finally gotten himself all mixed up. Or else discovered a new law of economics, which allows one to simultaneously reduce inflation while increasing the amount of currency in circulation ...