The however 30/10/2012


However, hello!

Our monetary policy hampers our economic growth. This is not someone out there says, and German Gref, head of Sberbank and inveterate liberal.

"Today, the positive rates for loans to the real sector accounted for 6 per cent — said Gref. — This means that the company is not in a position to invest, attracting borrowed funds."

 The positive rate — is that higher inflation. That is, the available credit for businesses at least 12 percent, but really — 20 or even 25. This is who else will be mastered by 20 per cent per annum? Unless, of course, is not involved in prostitution and drugs!

"That is, in fact, we have created the credit market, which is only available for speculation. And for the purposes of development, we have come up with various workarounds schemes: interest rate subsidies, preferential loans for some, a special relationship with the governor, with the federal government," — said Oleg Deripaska .

Monetary policy hinders economic growth. He braked. Under these conditions, the monetary authorities do?

In September, on the background of the fixed deceleration of economic growth in the Central Bank of Russia raised the rate from 8 to 8 and a quarter percent, citing the fight against inflation.

Well are you doing this, my dears! Only our central bank — the only one that increases the rate of growth during braking. In a crisis. Despite the fact that inflation is not dependent on the price of credit, and from the tariffs of natural monopolies.

In all developed countries, central banks hold rates at extremely low levels equal to or even lower than the actual inflation rate. In U.S. — from zero to 25 hundredths Europe — 0.75 in Japan — from zero to one-tenth percent. And just in India in response to the economic slowdown the Reserve Bank cut its benchmark interest rate from 4 ½ percent to the lowest in the last 36 years, four and a quarter. This is done in spite of the high rate of inflation, India's central bank forecast that at the same time increased from 7 to 7 and a half percent.

Okay, America and Japan we can not decree. But India? So there! Let everyone around will die, and we will fight against inflation. I target it, darling. Because the central bank is responsible for our inflation. And not for nothing. The main thing that suit sitting.

The main factor of deceleration of economic growth, according to the Ministry of Economy, has become more expensive credit and a sharp slowdown in lending to non-financial sector. In this case, you can see how the growth of consumer credit lending sharply ahead of production.

We all know how distributed consumer loans — nothing else! Only a passport! Just take! That's not the mountain that bad lending to consumption, and that specifically credited imports. That is, someone else's production. And this is sabotage. And who is responsible for it?

The main objective of legislated policy of the Federal Reserve System is to maintain economic growth and maximum employment. Similar problems are imputed to the central banks of the developed countries.

And our — unresponsive. Well, is not imputed to him! Our economic policy is almost entirely forms the central bank and the Finance Ministry. In this case, for the economy, that is for economic growth, they do not respond. And what is he braked? Well, is not it strange?

However, goodbye!

See the original material on

Like this post? Please share to your friends: