One of the saddest Kremlin reports we’ve ever read stated that during President Obama’s meeting with President Medvedev at the Asia-Pacific summit of APEC Nations in Singapore, the American leader when asked his thoughts on Prime Minister Putin’s warning that the United States should cease its march towards socialism replied, “It doesn’t matter since for all intent and purposes the US Constitution is dead”.
In his speech to the World Economic Forum in Davos, Switzerland, this past winter Putin had warned Obama of the dangers of socialism by saying, “In the 20th century, the Soviet Union made the state’s role absolute, in the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.”
Putin further cautioned Obama against using military Keynesianism to lift its economy out of recession, saying, “In the longer run, militarization won’t solve the problem but will rather quell it temporarily. What it will do is squeeze huge financial and other resources from the economy instead of finding better and wiser uses for them.”