Russian Prime Minister Vladimir Putin has warned the Obama administration against adopting further socialism, saying Russian history clearly proves it is a recipe for failure. “Any fourth grade history student knows socialism has failed in every country, at every time in history,” said Putin. “President Obama and his fellow Democrats are either idiots or deliberately trying to destroy their own economy.”
Economists say Putin’s comments serve to illustrate how worldwide markets have made even economic adversaries dependent on each other’s financial stability.
An Obama spokesman dismissed Putin’s claim, saying, “We’re going to do socialism better.”
