The Putin Solution: Instant Price Controls!
Its GDP shrank 10 percent in the last year. Oil revenues are down significantly. And now Vladimir Putin, whose popularity is closely linked to Russia's recent rise in living standards, is prowling the streets of Moscow, laying blame for the financial crisis on usurious grocery store owners and their overpriced borscht. The Telegraph explains:
The prime minister abruptly interrupted a meeting with senior retailers at the Moscow White House, the seat of the Russian government, to drag them on an impromptu visit to a nearby branch of the Perekrestok supermarket chain.
Striding angrily through the aisles with a retinue of glum executives in tow, Mr Putin came to a halt in the supermarket's cold meat section and gesticulated towards a packet of sausages priced at just under £5.
Rounding on Yuri Kobaladze, the chain's head of corporate relations, Mr Putin demanded: "Why do your sausages cost 240 roubles? Is that normal?" "But these are high quality sausages," Mr Kobaladze replied, looking crestfallen.
With a look of relief crossing his face, the executive spotted some cheaper sausages.
"Look, these ones are just 49 roubles," he said.
But the prime minister was not to be deterred. "Too expensive," he muttered, before conjuring up a price list from his pocket. "I can show you your mark up. Look at this kind of sausage. You've marked it up by 52 per cent"…
Having primed his victim, Mr Putin moved in for the kill. Consulting his crib sheet, he pointed towards a packet of pork fillets.
"This is double the (cost) price," he said to Mr Kobaladze. "Is this normal?"
"Is 120 per cent a high mark up?" Mr Kobaladze responded timidly.
"Very high," the prime minister said.
"It will be lowered tomorrow," the executive replied.
