Bread on the agenda
Prosecutors are seeking the perpetrators of a 400-percent rise in pricesThe shops have come public prosecutors. They wondered why food prices are rising so fast. Ignoring the laws of the market, "men in blue" for the second time in six months trying to slow the "unjustified" the acceleration of inflation. But to punish the supermarkets for expensive food does not come out - the law on trade does not limit the value of the goods. There is a solution: change the law and introduce state regulation of prices. Recently, the authorities think about it more often. But on the other side of the scale may be a deficit. What outweigh?
Depressing inflation
Prosecutor General's Office looked at the price tags in stores and was horrified. According to the Russian Prosecutor General Yuri Chaika, some products in recent months, rose by 300-400 percent. "The picture is certainly depressing," - as he assessed the situation. Now the agency analyzes the situation and preparing a "generalized document." Seagull also threatened to repeat the raid on supermarkets and strictly punish the guilty in the growth of prices.Earlier General Prosecutor's Office reported that across the country more expensive pork, beef, chicken, fish, eggs, cereals and vegetables. The Office informed that the price of these products rose by 10-150 percent.In some regions, even the bread has risen in price. According to the Federal Antimonopoly Service (FAS) - by 15-20 percent. It happened what warned Deputy Prime Minister Arkady Dvorkovich. In mid-January, he said that flour and bread will soon rise in price, recognizing that there will be it for objective reasons: because of the strong dependence on Russian imports and the "double growth of the dollar against the ruble."Unwinds and the official inflation rate. Once a week, Rosstat pleases their reports. For example, from 20 to 26 January the prices have risen by 0.6 percent. For comparison, a year earlier products rose by 0.6 percent for the whole of January. The fastest way is now increasing the cost of vegetables: cabbage - by 29.1 percent, tomatoes - by 26.9 per cent, cucumbers - by 24.3 percent, onion - by 20.3 percent, carrots - 19.3 percent, potatoes - 13, 4 percent. In addition, 12 percent of sugar has risen in price by 8.8 percent - rice, 5.8 per cent - fish.Deteriorating inflation forecasts for 2015. Ministry of Economic Development expects that prices will rise by 12 percent (previous forecast - 7.5 per cent), the Ministry of Agriculture - 15 percent. The central bank noted that on 26 January the annual inflation rate has reached 13.1 percent. Morgan Stanley analysts believe that the goods in Russia to rise by 13.7 percent.Hand ratesThe government do not exclude the introduction of price regulation. Attraction prosecutors - a step in this direction. In late 2014, the Head of Industry and Trade Denis Manturov said that if necessary, the authorities are ready to intervene in the pricing. "If producers and distribution networks would violate the virtuous regime, which formed today, we have a strong enough impact tools by legislative measures to freeze prices for the products," - said the official.Dvorkovich also informed about the possibility of adjusting the value of the products, provided that they will go up for a long time. However, he warned: "It is possible to freeze prices. Only then do not shout that the country there was a shortage of buckwheat. "
Photo by Artem Geodakyan / TASSBy price controls hooked Prosecutor General last fall, just after Russia imposed retaliatory sanctions against EU food and the USA. This year, once again appealed to the prosecutors. "Given the difficult economic situation, you need to help keep track of the process of pricing in the fuel, food, medicines," - set them the task of the head of the presidential administration Sergei Ivanov (quoted by TASS). At the same time, he demanded that they stop unjustified checks of business.That was entrusted to monitor the prices of prosecutors, says a lot. Example of who the authorities are believed to have inflation accelerates. Clearly not himself and preached their monetary and fiscal policies. Now it turns out that the blame for not rising in price products market conditions - the rise in prices for imported goods due to the devaluation of the ruble, the problems with the harvest in some regions (eg, the victim harvest Altai buckwheat) - and some unidentified criminals. Work prosecutors - search for violations of the law. In stores, it has been just that, not paying attention to other laws - market."Prosecutors do not know what he knows economist freshman. Prices in any market tend to equalize. This is the law of one price. Entrepreneurs are free to set any price tag on the product, if it is not baby food. The prosecutor's office is now looking for an excuse to persuade shops not to use their legal rights, "- he said in an interview with" Lentoy.ru "antitrust economist, member of the Expert Council under the Government of Russia Vadim Novikov.The invisible hand of the prosecutor's officeIndeed, no retailer in their right mind would turn up rates, if there is no objective reason - all buyers simply scatter over competitors. "None of the market participants are not interested in inflating prices, as this greatly reduces the sales, especially in times of crisis", - says Director of Development of the Association of manufacturers and suppliers of food products (Rusprodsoyuz). In an interview with "Lentoy.ru" he stressed that trade law does not specify maximum prices for goods.Lawyer law office DS Law Ekaterina Ilina explained that the prosecution had reason for inspections after complaints of citizens to high prices. "But there is reason to prosecute hard to find - food prices are not set by the state," - she explained "Lente.ru."Yes, the prosecution and in fact are having difficulty attracting retailers to justice. "We understand and respect the supervisory function of the state. But we believe that excessive overregulation of the market does not give a positive effect. As a result, the buyer may suffer, "- commented" Lente.ru "representative of X5 Retail Group (it includes" Crossroads "," Pyaterochka "," Carousel "," Kopeika "), Vladimir Rusanov. According to him, in January in almost all regions where there are stores, were checking the prosecutor's office, Rospotrebnadzor, Rosselkhoznadzor. Also, food prices were interested representatives of regional administrations. "While serious and specific claims, we did not receive. Basically make general "warning on the avoidance of" violations ", - added Rusanov.On the prosecutor's check "Lente.ru" and spoke of "METRO". As the head of the press service Oksana Tokarev, no complaints supervisory authority to the store is not filed. "We are watching the situation in the market and conducting an ongoing dialogue with suppliers. However, due to the instability of the ruble is a complex process. Even local suppliers raised their prices. The main reason: rising in price of imported raw materials and packaging, "- she said.
Photo: Alexander Zemlyanichenko / APWhile prosecutors have no legal basis to penalize the store for the rise in prices. In the case of cartel intervened FAS. But the antitrust authority is silent. Then, in retail trade is not large-scale disturbances. "Men in blue" will have grounds for intervention, if the state law will limit the value of the products. It is likely that prosecutors needed to test probing the soil. In two massive raids - last fall and this winter - check not only prices, but also the reaction of business to strengthen administrative pressure.If it goes on, the price tags in stores will be able to change only the representatives of the competent authorities. Especially since that historical experience is. Not yet forgotten work of Gosplan, making sure that the sausage was worth 2.20, and vodka - 3.62. But shortages and queues - stuff at such prices.
Marat SeleznevSource: lenta.ru
Current Archive
28-03-2009 - Repetition traveled again or twenty-five
Rising prices for basic foodstuffs has galvanized public opinion of the country, the government, party leaders, politicians of different ranks, and there are reasons that do not fit in the pre-election passions and desires of various figures occupy a warm place in the State Duma.
Inflation, in the first nine months of this year amounted to 7.5%. Clearly, that for the year it will be higher than the official 9% last year. Food prices rose, according to Rosstat, the first week of October at 0.5%.
Most other foods have risen in price. The milk has risen in price by seven percent, eggs - six, in some regions of Russia sunflower oil increased in price by more than twenty percent. As a result of the rise in prices, not nearly as much as it teaches us to Rosstat (vegetable oil has risen in price from 30-35 to 70-75 rubles, that no it does not fit into the 20%), the bulk of Russia's poor became even poorer and all their attempts to break out of the vicious circle of poverty again, one touch of the "invisible" hand of the market, has once again been dashed.In the medium power again begun the painful search for the extreme as it was after the increase in bread prices. The leader of the party "United Russia" Boris Gryzlov spoke about the collusion of intermediaries in the supply of food, wanting to take the criticism into the mainstream of economic activity and to remove suspicion from the ruling party, which he headed.
Alexei Gordeyev, accused leaders of the Union of Right Forces, strongly dismissed the allegations and expressed the hope that the perpetrators are punished.Head of the Antimonopoly Committee has threatened Artemyev million fine. The government hastily organized a brainstorming session, and the PCA held a rally bodies, which called itself the party "protest outraged customers." The "indignant protest customers" was attended by over five hundred supporters of the SPS, as well as leaders of the party Anton tanks, Boris Nemtsov, Boris Nadezhdin and Masha Gaidar.But it is noteworthy that the government, as a result of "brainstorming" storming, the ATP and activists involved in mindless action, came to one "saving" the conclusion that the need to increase export duties on agricultural products and reducing tariffs on food imports. That's savior !!!
As told to "Interfax" Nemtsov, the protesters' demand to nullify the import duties on food products, especially imported from the Ukraine and the Baltic States ", called for the introduction of a" protective duties on the export of Russian grain "and called for the resignation of the Minister of Agriculture Alexei Gordeyev, and the chief sanitary doctor Gennady Onishchenko. A day later, the government, in the face of the receiver Gref Minister of Economic Development Elvira Naibiullinoy, told the citizens of the results of brainstorming, and they are surprisingly in line with the requirements of the SPS activists.Agriculture Minister Alexei Gordeyev, defending himself from the attacks of inveterate Democrat, said that his agency was not to blame for the sharp rise in food prices. According to the minister, the real culprits are the reformers, "Posada Russian consumers in the nineties of imported needle", ie those same Democrats are now storming hypermarkets. This message Gordeyev, part of the supreme council of "United Russia", made at the founding congress of the All-Russian agro-industrial employers' association.As you can see, tempers flared no joke. And in this situation, it is really important to understand the causes of rising prices for food products, not trying to blame everything on the panicked grandmothers who buy salt, as do mountain economists and political scientists. But first, we pay attention to the explanations that were recited by the responsible officials.The head of the Central Bank Ignatiev explained burst of inflation rise in price of products: milk, butter, bread.Why are they more expensive, Ignatieff has decided not to explain. Only monetary policy at anything, he said. And to take emergency measures to curb inflation Ignatieff does not intend to.In the fight against inflation the Central Bank may, in particular, to raise reserve requirements for banks (CDF) and interest rates on deposits, said Lissovolik. But now it would worsen and so unimportant liquidity situation, he said. Priority is now the Central Bank - liquidity, not inflation. On Wednesday, he lowered his odds, and yesterday - the rate on currency swaps.Inflation - not the worst thing in comparison with the possible problems of the banking system, says Chaikin, "The big difference between 8% and 10% [price rise] not." Really!Who cares if you get robbed by 8 or 10%? For a successful lawyer, and perhaps there is no difference. But for poor pensioners a significant difference. If we take into account that pensions have not increased in line with inflation.The accelerated decline in inflation in the medium term is difficult, admits Deputy Prime Minister and Finance Minister Alexei Kudrin said in an article published today in the forthcoming issue of the "question of economics."The main thing that hinders the fight against inflation - Central Bank of the dual problem: it is responsible both for inflation and the ruble, Kudrin complains. And he Kudrin, who recently argued that the struggle with the strengthening of the ruble leads to lower inflation, we need to understand the Ministry of Finance operates a cleaner! And does the policy of the Central Bank is not affected.Only, in his opinion, a way to stop the "perpetual motion" a rise in prices - "enjoys public trust to implement anti-inflation policy." What could be more credible?"The central bank this year failed to reduce the rate of strengthening effective exchange rate - it will grow by no more than 5%," - Kudrin confirmed Ignatiev thought. Well done! And apparently, commodity tycoons soon rewarded Ignatyev and Kudrin medal "for faithful service."Prime Minister Viktor Zubkov accused rise in food prices Economy Ministry is insufficient to fund agriculture. "A lot of mistakes were made by your predecessors," - he said the Minister Nabiullina. Over the past seven years, livestock production has increased by 16%, while food imports - 3.5 times. "Elvira Nabiullina promised to develop a program of state support of agriculture and increase funding for farmers, and has given the increase in export duties and a reduction in import of agricultural products.In unison, the officials from the government, and also absolutely confident singing CEO of the Institute for Agricultural Market Studies Dmitry Rylko, - "In fact, more expensive food is not the fault of officials."What are the true reasons for this rapid rise in prices? And the reasons in the mind, so that Ignatiev, and Kudrin so hard to prove that monetary policy is not to blame. And the reasons are two. First - this is a crisis of the world financial system, tied to the dollar, which has built so lovingly Kudrin Russia, however, and without suggesting that the crisis of the US financial policy is inevitable. It is possible that he did not know. But here's what he wrote about the August financial crisis, Mikhail Khazin online km.ru.
"With total debt of the US economy is 50 trillion dollars (which is only slightly less than the entire global GDP of around 60 trillion) and a 10% growth rate of the debt, new debt obtained unsecured.
A 10% of 50 trillion - a 5 trillion. That is the amount of debt this year increased by 5 trillion, accounting for about half of the US GDP. And what these 5 trillion provided? New created value? But the US GDP is 70% of the services in the provision of debt somehow did not take. And the products they create somewhere trillion in the two - that is, more than half of new debts do not have any security at all.And in such a situation, it becomes clear picture of the August crisis in the financial markets in Europe and the United States, when the already inadequate secured debt (in this case, mortgages) are even less well due to the massive failure to return them, the holders of these debts are the financial markets persona "notes grata." They no one else wants to lend, because it is absolutely clear that their ability to return the money, to put it mildly, limited. But this situation has a downside. Someone has obviously excess liquidity, or, simply, the cash in the account. The money is needed to do something with, as inflation kept accelerating, has not been canceled, and this money, in most cases, are not your own, and other people. That is borrowed, which still need to be repaid, for example, paying interest to depositors of banks. Or paying insurance compensation to victims. "The second reason, and it is a defining - it is an internal fiscal policy, which is clearly reflected in the way the Ministry of Finance and the Central Bank responded to the crisis of the Russian Federation. They rushed to rescue the banks, reducing reserve requirements for banks (CDF) and interest rates on deposits and opened for them the Stabilization Fund. Their priority, as they say openly and without the living standards of millions of Russian citizens (what's the difference of 8 or 10% inflation), or some farmers, and the provisions of the hundreds of bankers. Read: "The priority is now the Central Bank - liquidity, not inflation."
Prosecutors are seeking the perpetrators of a 400-percent rise in pricesThe shops have come public prosecutors. They wondered why food prices are rising so fast. Ignoring the laws of the market, "men in blue" for the second time in six months trying to slow the "unjustified" the acceleration of inflation. But to punish the supermarkets for expensive food does not come out - the law on trade does not limit the value of the goods. There is a solution: change the law and introduce state regulation of prices. Recently, the authorities think about it more often. But on the other side of the scale may be a deficit. What outweigh?
Depressing inflation
Prosecutor General's Office looked at the price tags in stores and was horrified. According to the Russian Prosecutor General Yuri Chaika, some products in recent months, rose by 300-400 percent. "The picture is certainly depressing," - as he assessed the situation. Now the agency analyzes the situation and preparing a "generalized document." Seagull also threatened to repeat the raid on supermarkets and strictly punish the guilty in the growth of prices.Earlier General Prosecutor's Office reported that across the country more expensive pork, beef, chicken, fish, eggs, cereals and vegetables. The Office informed that the price of these products rose by 10-150 percent.In some regions, even the bread has risen in price. According to the Federal Antimonopoly Service (FAS) - by 15-20 percent. It happened what warned Deputy Prime Minister Arkady Dvorkovich. In mid-January, he said that flour and bread will soon rise in price, recognizing that there will be it for objective reasons: because of the strong dependence on Russian imports and the "double growth of the dollar against the ruble."Unwinds and the official inflation rate. Once a week, Rosstat pleases their reports. For example, from 20 to 26 January the prices have risen by 0.6 percent. For comparison, a year earlier products rose by 0.6 percent for the whole of January. The fastest way is now increasing the cost of vegetables: cabbage - by 29.1 percent, tomatoes - by 26.9 per cent, cucumbers - by 24.3 percent, onion - by 20.3 percent, carrots - 19.3 percent, potatoes - 13, 4 percent. In addition, 12 percent of sugar has risen in price by 8.8 percent - rice, 5.8 per cent - fish.Deteriorating inflation forecasts for 2015. Ministry of Economic Development expects that prices will rise by 12 percent (previous forecast - 7.5 per cent), the Ministry of Agriculture - 15 percent. The central bank noted that on 26 January the annual inflation rate has reached 13.1 percent. Morgan Stanley analysts believe that the goods in Russia to rise by 13.7 percent.Hand ratesThe government do not exclude the introduction of price regulation. Attraction prosecutors - a step in this direction. In late 2014, the Head of Industry and Trade Denis Manturov said that if necessary, the authorities are ready to intervene in the pricing. "If producers and distribution networks would violate the virtuous regime, which formed today, we have a strong enough impact tools by legislative measures to freeze prices for the products," - said the official.Dvorkovich also informed about the possibility of adjusting the value of the products, provided that they will go up for a long time. However, he warned: "It is possible to freeze prices. Only then do not shout that the country there was a shortage of buckwheat. "
Photo by Artem Geodakyan / TASSBy price controls hooked Prosecutor General last fall, just after Russia imposed retaliatory sanctions against EU food and the USA. This year, once again appealed to the prosecutors. "Given the difficult economic situation, you need to help keep track of the process of pricing in the fuel, food, medicines," - set them the task of the head of the presidential administration Sergei Ivanov (quoted by TASS). At the same time, he demanded that they stop unjustified checks of business.That was entrusted to monitor the prices of prosecutors, says a lot. Example of who the authorities are believed to have inflation accelerates. Clearly not himself and preached their monetary and fiscal policies. Now it turns out that the blame for not rising in price products market conditions - the rise in prices for imported goods due to the devaluation of the ruble, the problems with the harvest in some regions (eg, the victim harvest Altai buckwheat) - and some unidentified criminals. Work prosecutors - search for violations of the law. In stores, it has been just that, not paying attention to other laws - market."Prosecutors do not know what he knows economist freshman. Prices in any market tend to equalize. This is the law of one price. Entrepreneurs are free to set any price tag on the product, if it is not baby food. The prosecutor's office is now looking for an excuse to persuade shops not to use their legal rights, "- he said in an interview with" Lentoy.ru "antitrust economist, member of the Expert Council under the Government of Russia Vadim Novikov.The invisible hand of the prosecutor's officeIndeed, no retailer in their right mind would turn up rates, if there is no objective reason - all buyers simply scatter over competitors. "None of the market participants are not interested in inflating prices, as this greatly reduces the sales, especially in times of crisis", - says Director of Development of the Association of manufacturers and suppliers of food products (Rusprodsoyuz). In an interview with "Lentoy.ru" he stressed that trade law does not specify maximum prices for goods.Lawyer law office DS Law Ekaterina Ilina explained that the prosecution had reason for inspections after complaints of citizens to high prices. "But there is reason to prosecute hard to find - food prices are not set by the state," - she explained "Lente.ru."Yes, the prosecution and in fact are having difficulty attracting retailers to justice. "We understand and respect the supervisory function of the state. But we believe that excessive overregulation of the market does not give a positive effect. As a result, the buyer may suffer, "- commented" Lente.ru "representative of X5 Retail Group (it includes" Crossroads "," Pyaterochka "," Carousel "," Kopeika "), Vladimir Rusanov. According to him, in January in almost all regions where there are stores, were checking the prosecutor's office, Rospotrebnadzor, Rosselkhoznadzor. Also, food prices were interested representatives of regional administrations. "While serious and specific claims, we did not receive. Basically make general "warning on the avoidance of" violations ", - added Rusanov.On the prosecutor's check "Lente.ru" and spoke of "METRO". As the head of the press service Oksana Tokarev, no complaints supervisory authority to the store is not filed. "We are watching the situation in the market and conducting an ongoing dialogue with suppliers. However, due to the instability of the ruble is a complex process. Even local suppliers raised their prices. The main reason: rising in price of imported raw materials and packaging, "- she said.
Photo: Alexander Zemlyanichenko / APWhile prosecutors have no legal basis to penalize the store for the rise in prices. In the case of cartel intervened FAS. But the antitrust authority is silent. Then, in retail trade is not large-scale disturbances. "Men in blue" will have grounds for intervention, if the state law will limit the value of the products. It is likely that prosecutors needed to test probing the soil. In two massive raids - last fall and this winter - check not only prices, but also the reaction of business to strengthen administrative pressure.If it goes on, the price tags in stores will be able to change only the representatives of the competent authorities. Especially since that historical experience is. Not yet forgotten work of Gosplan, making sure that the sausage was worth 2.20, and vodka - 3.62. But shortages and queues - stuff at such prices.
Marat SeleznevSource: lenta.ru
Current Archive
28-03-2009 - Repetition traveled again or twenty-five
Rising prices for basic foodstuffs has galvanized public opinion of the country, the government, party leaders, politicians of different ranks, and there are reasons that do not fit in the pre-election passions and desires of various figures occupy a warm place in the State Duma.
Inflation, in the first nine months of this year amounted to 7.5%. Clearly, that for the year it will be higher than the official 9% last year. Food prices rose, according to Rosstat, the first week of October at 0.5%.
Most other foods have risen in price. The milk has risen in price by seven percent, eggs - six, in some regions of Russia sunflower oil increased in price by more than twenty percent. As a result of the rise in prices, not nearly as much as it teaches us to Rosstat (vegetable oil has risen in price from 30-35 to 70-75 rubles, that no it does not fit into the 20%), the bulk of Russia's poor became even poorer and all their attempts to break out of the vicious circle of poverty again, one touch of the "invisible" hand of the market, has once again been dashed.In the medium power again begun the painful search for the extreme as it was after the increase in bread prices. The leader of the party "United Russia" Boris Gryzlov spoke about the collusion of intermediaries in the supply of food, wanting to take the criticism into the mainstream of economic activity and to remove suspicion from the ruling party, which he headed.
Alexei Gordeyev, accused leaders of the Union of Right Forces, strongly dismissed the allegations and expressed the hope that the perpetrators are punished.Head of the Antimonopoly Committee has threatened Artemyev million fine. The government hastily organized a brainstorming session, and the PCA held a rally bodies, which called itself the party "protest outraged customers." The "indignant protest customers" was attended by over five hundred supporters of the SPS, as well as leaders of the party Anton tanks, Boris Nemtsov, Boris Nadezhdin and Masha Gaidar.But it is noteworthy that the government, as a result of "brainstorming" storming, the ATP and activists involved in mindless action, came to one "saving" the conclusion that the need to increase export duties on agricultural products and reducing tariffs on food imports. That's savior !!!
As told to "Interfax" Nemtsov, the protesters' demand to nullify the import duties on food products, especially imported from the Ukraine and the Baltic States ", called for the introduction of a" protective duties on the export of Russian grain "and called for the resignation of the Minister of Agriculture Alexei Gordeyev, and the chief sanitary doctor Gennady Onishchenko. A day later, the government, in the face of the receiver Gref Minister of Economic Development Elvira Naibiullinoy, told the citizens of the results of brainstorming, and they are surprisingly in line with the requirements of the SPS activists.Agriculture Minister Alexei Gordeyev, defending himself from the attacks of inveterate Democrat, said that his agency was not to blame for the sharp rise in food prices. According to the minister, the real culprits are the reformers, "Posada Russian consumers in the nineties of imported needle", ie those same Democrats are now storming hypermarkets. This message Gordeyev, part of the supreme council of "United Russia", made at the founding congress of the All-Russian agro-industrial employers' association.As you can see, tempers flared no joke. And in this situation, it is really important to understand the causes of rising prices for food products, not trying to blame everything on the panicked grandmothers who buy salt, as do mountain economists and political scientists. But first, we pay attention to the explanations that were recited by the responsible officials.The head of the Central Bank Ignatiev explained burst of inflation rise in price of products: milk, butter, bread.Why are they more expensive, Ignatieff has decided not to explain. Only monetary policy at anything, he said. And to take emergency measures to curb inflation Ignatieff does not intend to.In the fight against inflation the Central Bank may, in particular, to raise reserve requirements for banks (CDF) and interest rates on deposits, said Lissovolik. But now it would worsen and so unimportant liquidity situation, he said. Priority is now the Central Bank - liquidity, not inflation. On Wednesday, he lowered his odds, and yesterday - the rate on currency swaps.Inflation - not the worst thing in comparison with the possible problems of the banking system, says Chaikin, "The big difference between 8% and 10% [price rise] not." Really!Who cares if you get robbed by 8 or 10%? For a successful lawyer, and perhaps there is no difference. But for poor pensioners a significant difference. If we take into account that pensions have not increased in line with inflation.The accelerated decline in inflation in the medium term is difficult, admits Deputy Prime Minister and Finance Minister Alexei Kudrin said in an article published today in the forthcoming issue of the "question of economics."The main thing that hinders the fight against inflation - Central Bank of the dual problem: it is responsible both for inflation and the ruble, Kudrin complains. And he Kudrin, who recently argued that the struggle with the strengthening of the ruble leads to lower inflation, we need to understand the Ministry of Finance operates a cleaner! And does the policy of the Central Bank is not affected.Only, in his opinion, a way to stop the "perpetual motion" a rise in prices - "enjoys public trust to implement anti-inflation policy." What could be more credible?"The central bank this year failed to reduce the rate of strengthening effective exchange rate - it will grow by no more than 5%," - Kudrin confirmed Ignatiev thought. Well done! And apparently, commodity tycoons soon rewarded Ignatyev and Kudrin medal "for faithful service."Prime Minister Viktor Zubkov accused rise in food prices Economy Ministry is insufficient to fund agriculture. "A lot of mistakes were made by your predecessors," - he said the Minister Nabiullina. Over the past seven years, livestock production has increased by 16%, while food imports - 3.5 times. "Elvira Nabiullina promised to develop a program of state support of agriculture and increase funding for farmers, and has given the increase in export duties and a reduction in import of agricultural products.In unison, the officials from the government, and also absolutely confident singing CEO of the Institute for Agricultural Market Studies Dmitry Rylko, - "In fact, more expensive food is not the fault of officials."What are the true reasons for this rapid rise in prices? And the reasons in the mind, so that Ignatiev, and Kudrin so hard to prove that monetary policy is not to blame. And the reasons are two. First - this is a crisis of the world financial system, tied to the dollar, which has built so lovingly Kudrin Russia, however, and without suggesting that the crisis of the US financial policy is inevitable. It is possible that he did not know. But here's what he wrote about the August financial crisis, Mikhail Khazin online km.ru.
"With total debt of the US economy is 50 trillion dollars (which is only slightly less than the entire global GDP of around 60 trillion) and a 10% growth rate of the debt, new debt obtained unsecured.
A 10% of 50 trillion - a 5 trillion. That is the amount of debt this year increased by 5 trillion, accounting for about half of the US GDP. And what these 5 trillion provided? New created value? But the US GDP is 70% of the services in the provision of debt somehow did not take. And the products they create somewhere trillion in the two - that is, more than half of new debts do not have any security at all.And in such a situation, it becomes clear picture of the August crisis in the financial markets in Europe and the United States, when the already inadequate secured debt (in this case, mortgages) are even less well due to the massive failure to return them, the holders of these debts are the financial markets persona "notes grata." They no one else wants to lend, because it is absolutely clear that their ability to return the money, to put it mildly, limited. But this situation has a downside. Someone has obviously excess liquidity, or, simply, the cash in the account. The money is needed to do something with, as inflation kept accelerating, has not been canceled, and this money, in most cases, are not your own, and other people. That is borrowed, which still need to be repaid, for example, paying interest to depositors of banks. Or paying insurance compensation to victims. "The second reason, and it is a defining - it is an internal fiscal policy, which is clearly reflected in the way the Ministry of Finance and the Central Bank responded to the crisis of the Russian Federation. They rushed to rescue the banks, reducing reserve requirements for banks (CDF) and interest rates on deposits and opened for them the Stabilization Fund. Their priority, as they say openly and without the living standards of millions of Russian citizens (what's the difference of 8 or 10% inflation), or some farmers, and the provisions of the hundreds of bankers. Read: "The priority is now the Central Bank - liquidity, not inflation."
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