The failure of Russia’s free-market pension reform

By Vladimir Volkov
17 August 2009

http://www.wsws.org/articles/2009/aug2009/russ-a17.shtml

Since 2002, one of the main social policies associated with Russia’s former president and current prime minister, Vladimir Putin, has been pension reform. His policy has been directed towards the creation of a new social security system for the elderly based on capitalist market principles. It now stands on the edge of total failure. The mechanisms upon which the reform was founded have proven to be unviable. Even as the aggregate sum of pensioners’ contributions has grown, the average pension benefit has steadily fallen in comparison with average pay. The requirements of the State Pension Fund are colliding with an ever more ominous deficit. Moreover, the private funds and managing companies appointed to run the system have been discredited in the eyes of depositors by their irresponsible and risky speculative investments. The economic crisis, which in Russia has reached a scale comparable to the chaotic situation of the 1990s and the financial crash of 1998, has exacerbated the social conditions that the pension reform was supposed to address. The pension reform has three categories of benefits: basic, emergency and reserve. The basic pension, according to the government’s plan, provides a certain minimum safety net, independent of the participant’s pay or position. Such is the pension currently received by most of the elderly.

Economic nationalism on the rise in Europe

15 August 2009

http://www.wsws.org/articles/2009/aug2009/pers-a15.shtml

The economic tensions between Europe and the US, and within Europe itself, are intensifying in the run-up to the G20 summit to be held next month in Pittsburgh, Pennsylvania. Major European countries are responding to the financial crisis with protectionist trade policies and appeals to national chauvinism.

Every international meeting of finance ministers and heads of state over the past two years has featured pledges from all participants to refrain from economic nationalist measures in defense of their respective industries and banks. The last G20 summit, held in London at the start of April, issued such a statement, declaring the nations’ determination to fight protectionism and develop new international regulations to oversee the financial markets.

Lagi, Minyak Makin Mahal

Permintaan Masih Lemah, Penurunan Harga Tetap Bisa Terjadi
Sabtu, 15 Agustus 2009 | 03:34 WIB

http://koran.kompas.com/read/xml/2009/08/15/03341023/lagi.minyak.makin.mahal.

LONDON, JUMAT – Harga minyak terus menanjak pada perdagangan di hari Jumat (14/8). Kenaikan itu seiring dengan semakin besarnya harapan pemulihan ekonomi global akan lebih cepat dari perkiraan sebelumnya. Aktivitas ekonomi berkorelasi positif dengan permintaan energi.

Minyak jenis Brent untuk pengiriman September naik 30 sen menjadi 73,78 dollar AS per barrel pada perdagangan di London. Sedangkan kontrak utama minyak New York naik lima sen menjadi 70,57 dollar AS per barrel.

ANGGARAN 2010: Ekspor Belum Bisa Diandalkan

Sabtu, 15 Agustus 2009 | 03:58 WIB

http://koran.kompas.com/read/xml/2009/08/15/0358521/ekspor.belum..bisa.diandalkan

Jakarta, Kompas – Indonesia tidak bisa mengandalkan ekspor untuk mendorong pertumbuhan ekonomi tahun 2010. Permintaan internasional terhadap produk ekspor Indonesia diperkirakan masih lemah.

Oleh karena itu, menurut Wakil Ketua Panitia Anggaran dan Koordinator Panitia Kerja Asumsi Makro, Penerimaan, Defisit, dan Pembiayaan Rancangan APBN 2010 Suharso Monoarfa, pemerintah perlu memperkuat pertahanan pasar domestik dan industri yang berorientasi pada pasar dalam negeri.

Krisis Mulai Mereda: Pemerintahan Kuat Mendongkrak Sentimen Pasar

Sabtu, 15 Agustus 2009 | 03:59 WIB

http://koran.kompas.com/read/xml/2009/08/15/03592513/krisis.mulai.mereda.

Jakarta, Kompas – Krisis ekonomi telah memberikan dampak yang berbeda-beda bagi setiap negara berkembang. Namun, kekhawatiran terhadap krisis yang mulai terjadi tahun lalu telah mereda dan Indonesia berada dalam kondisi yang cukup baik bila dibandingkan dengan negara lain.

Chief Economist Deutsche Bank Group Prof Dr Norbert Walter, dalam pertemuannya dengan wartawan di Jakarta, Jumat (14/8), mengatakan, Indonesia hanya mendapat tekanan krisis global yang cukup rendah karena Indonesia memiliki manajemen ekonomi yang cukup baik.

Perlu Operasi Pasar Gula

Ketergantungan terhadap Gula Impor Tinggi
Sabtu, 15 Agustus 2009 | 04:00 WIB

http://koran.kompas.com/read/xml/2009/08/15/04005930/perlu.operasi.pasar.gula

Jakarta, Kompas – Pemerintah diminta segera mengintervensi pasar gula dengan melakukan operasi pasar dalam rangka menstabilkan harga gula yang kian meningkat di pasar. Tingginya harga gula di dalam negeri saat ini merupakan dampak spekulasi pedagang.

Menurut Ketua Umum Asosiasi Pengusaha Indonesia (Apindo) Sofjan Wanandi, Jumat (14/8) di Jakarta, operasi pasar gula bisa dilakukan dengan melibatkan Perum Bulog. ”Pemerintah bisa menggunakan Bulog sebagai alat untuk melakukan intervensi pasar,” katanya.