Putin warns of financial crisis the world ‘has not yet seen’

[awik p]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.

“The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. “The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about solidarity, past agreements and long cooperation,” he said.

https://www.rt.com/business

If this financial crisis will be started, shall it also start a global famine? I guess what Putin wants to say to the nation is to find ways to avoid the crisis he is talking and not the financial war against nation's.

as a leader certainly gives hope and optimism to his people. so that the people are eager to develop the economy and finally what has not been worried has happened. I think as a leader it must be like that, providing a solution to get out of a bad situation, and this needs to be followed by others

[Irvinn]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.

“The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. “The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about solidarity, past agreements and long cooperation,” he said.

https://www.rt.com/business

Putin's hypocrisy has no limits. “Violation of the rules should not be a new rule,” he said, and at the same time, he, as President of Russia, violates all international cooperation agreements between this state and other countries and advocates that these countries do not have the right to retaliate unilateral individual or collective sanctions against the offender.
Now the world because of its imperial ambitions Putin and piracy methods in international relations really stands on the verge of the Third World War. He is the cause of such international tension.

[jcarlo]

From what i am read in online media, many expert predicting 2019-2020 is hard year for many country in the world. Economic crisis could happen and its bigger than 2008. Trade war between US government and China government still not finding a solution and i think thats increasing crisis risk.

[Snaic]

Putin is actually complaining about his own actions, saying that the violation of the rules of international cooperation, which have been forming for a long time, becomes a new rule. It is he who is violating all international norms now by his actions. At the same time, he obviously does not want the international community to take adequate measures against Russia. It is he who begins to saber with weapons everywhere, trying to solve everything by force. His private army and the army of mercenaries, not only in Syria and Ukraine. So what does he want? The community has the right to unite against the actions of the aggressor. Now it is because of Putin that the world is moving at a fast pace towards the Third World War.

[setialovers]

In my opinion, Trade wars, increase on interest rate is sign of economic crisis. The Fed already make a statement that they will increasing interest rate and this is a sign that dollar will comeback to America. It will make dollar supply in market will more tight and i am believe more country will difficult to provide liquidity

[andrerusso]

it's already December and there was an article recently in twitter about IMF predicting an economic crisis... so what can we, mere citizens do?

[yulchatar]

it's already December and there was an article recently in twitter about IMF predicting an economic crisis... so what can we, mere citizens do?

I agree with you. And I  already asked this question in one of the topics. Ordinary citizens can only survive, how they can, and adapt to future circumstances.

[WebdeveIoper]

Bitcoin was created in the wake of the 2008 financial crisis... so does that mean that people will flock to cryptocurrency if there's another one?

Maybe not directly flock too but I think it sounds like a opportunity.

[Sama517]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.

“The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. “The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about solidarity, past agreements and long cooperation,” he said.

https://www.rt.com/business

There is no doubt that Vladimir Putin is lashing out at America with this his speech. But come to think of it, what he said is actually the truth that is happening today. The treat of sanctions here and there may cripple a lot of economic activities globally.

[ShadowBits]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.

“The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. “The ability to impose sanctions arbitrarily and with no control fosters a temptation to use such restrictive tools again and again, right and left, in every case, regardless of political loyalty, talks about solidarity, past agreements and long cooperation,” he said.

https://www.rt.com/business

I haven't experience any financial crisis in my whole life before because I am living in a balanced place where we could get our food from our backyards, but I guess I still need to see it for myself.

[BestSSS]

Let me guess where the crisis started and has been going since 2014...
Yes this Russia! Since Crimea joined Russia, things have been getting worse for Russia. The ruble fell by 2 times, all prices rose from 2 to 3.4 times, the retirement age was increased, fuel prices increased by 100%..
But in Russia continue to argue that there is no crisis and all is well, but every day show how bad in France - there is a law and people go to rallies on the Street.
Vladimir Putin-can say anything, maybe in Europe and the crisis will begin, but first look in your garden and see what happened to the people!. Get off your post and let the people raise the country from their knees!

[Pab]

First what president Putin has to think about is his own country and not only him but all that so called leaders
What will be with Russia with zero productivity
Russia can be incredible rich country if managed well
But majority of Russians are extremely poor
What will be with Russia demand on oil and gas will slow down
But Putin and his close circle will stay rich
Only one thing what will left will be tanks missile and air forces and millions of soldiers
For that what Putin is doing to Ukraine he has to experience real sanctions current one are any
Top danger for world peace is Russia and in fact Russia is in state of war with Ukraine and Russia is aggressor same way like Hitler was
That situation is in fact very similar to situation what was before WW2
One of the biggest crisis now is in Russia can be solved by war
All that is like preparation for aggression

[el kaka22]

The global economy is facing a threat of a spiraling protectionist measures that can lead to a devastating crisis, Vladimir Putin warned. Nations must find a way to prevent this and establish rules on how the economy should work.
The Russian president spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday.

I am not so sure about the "world has not seen yet" part. I mean world has seen a lot of economical crisis, as a globe we are more connected to each other than we ever were so that is a part of the problem but this world has gone through world wars for Christ sake, we are talking about whole nations killing each other and destroying their homes and neighborhoods in order to conquer each other, if the world could recoup from a world war like second world war than I am sure we can fix everything else.

2008 was a bad year where everything collapsed, whole USA which is one of the biggest economical forces in the world if not the biggest had a horrible year and many people bankrupted and that affected whole nations like Spain and Greece and right now we are much better than we were in 2007 before crisis happened. This tells me we can have a crisis but I doubt it will be something we have not seen before.

[Renaldi blackspadeteam]

the world is cruel, the economic crisis makes people lose their minds and will do everything they can to survive, this is a very scary day even because economic problems can lead to war,

how beautiful this world is if life helps each other.

[Snaic]

Putin himself began quite tough and aggressively to bar an already well-established security system in Europe. He began by military and paramilitary methods the seizure of the territories of neighboring states and by the same methods extended his influence to other states with large reserves of energy resources. It was he who initiated the unleashing of the so-called hybrid wars. From his imperial ambitions tens of thousands of people have already died. Is this murderer and executioner still unhappy that economic sanctions have been imposed by the international community against his methods of conducting politics with other states? Is he so cynically ignoring the established civilized rules of coexistence between states and still trying to resent that the international community began to at least somehow react to its openly pirated attacks on other states? He, like the slave population of Russia, deserves more radical measures, until he dragged the world into a new world war.

[eaLiTy]

I haven't experience any financial crisis in my whole life before because I am living in a balanced place where we could get our food from our backyards, but I guess I still need to see it for myself.

Getting food from your backyard is one thing and having a global financial crisis is a case everyone will get affected one way or the other.

Putin himself began quite tough and aggressively to bar an already well-established security system in Europe. He began by military and paramilitary methods the seizure of the territories of neighboring states and by the same methods extended his influence to other states with large reserves of energy resources.

In his defense he will say he needs to protect his country from other forces and so is the reason he made those decisions in Ukraine and now in Venezuela, but not certain about what kind of action is being planned in Venezuela but US cannot claim they wanted peace either, as they have the biggest military base around the globe and just take a look at the war they started in the last twenty years alone around the globe and some of the effects it had is huge because of the immigration of people from these war torn areas to safer places like Canada and other European countries and it will create a much bigger problem in the future.  
The fun fact is that the narrative always changes with perception. If you look from Russian stand point what they are doing is correct and on the other hand if you look from US stand point what they are doing is also correct.

[Ozero]

Putin complains that the collective security system, which has lined up for many years, is breaking down and that international agreements are being violated, that is, he is complaining about his own actions. It is precisely because of his imperial ambitions and the fact that he began to violate absolutely all international agreements, acting now simply as a pirate, without any remorse of conscience and attacking his neighbors, does he actually complain that the international community unilaterally, without his consent, against him international sanctions. He apparently wants the international community to encourage his open military attacks on Georgia and Ukraine, as well as military threats to the Baltic States and all of Europe, as well as the United States. Only in Ukraine, part of the territory of which Russia captured through military aid, killed about 12,000 people. With his reckless actions, Putin pushed the world back into an arms race and military confrontation, actually putting the world on the brink of a third world war. I see that some on this forum even justify his piracy. Very sorry.

[Spaffin]

In his words, I do not see that he is warning about the global financial crisis. I see that he complains that the world has imposed international sanctions against Russia and, of course, he does not like it. I think that over time, he and all his supporters will be tried by the international military tribunal as war criminals leading to the death of thousands of people.
In the world, there have always been, there are, and world economic crises will periodically arise. They play both negative and positive cleansing role.

[kaya11]

Bitcoin was created in the wake of the 2008 financial crisis... so does that mean that people will flock to cryptocurrency if there's another one?

It seems that is the case tat is gonna happen if the economy collapses but not all of the money goes to crypto I guess, there is also other traditional investments. Putin was saying that current rules just won't won't anymore and it has to be broke but he did not say we should be making crypto as a solution at all. When that time happens, I guess the normal people would be more affected, they should be opening their eyes by now or else it will be to late for them.

[nur rochid]

Bitcoin was created in the wake of the 2008 financial crisis... so does that mean that people will flock to cryptocurrency if there's another one?

It seems that is the case tat is gonna happen if the economy collapses but not all of the money goes to crypto I guess, there is also other traditional investments. Putin was saying that current rules just won't won't anymore and it has to be broke but he did not say we should be making crypto as a solution at all. When that time happens, I guess the normal people would be more affected, they should be opening their eyes by now or else it will be to late for them.

to be successful, we must dare to get out of the box, and that may be forced by breaking the rules, which currently uses a centralized system that will be facilitated by a decentralized system, but there will be many obstacles to that