#10
the eXile
November 29, 2001
www.exile.ru
The Hack's Corner
He held out for a long time—almost three years. But last week, New York Times uber-villain Michael Wines finally caved in and wrote his own “Russia is finally turning the corner” story, making him the nine thousand four hundred thirty-seventh person to make this announcement since the collapse of the Soviet Union. In fact, Russia has turned the corner at least once in almost every month of every year since 1995. Strikingly, Russia appears to have turned the corner most often in the early months of 1998, when in fact the economy was on the verge of total collapse. In any case, in Wines’s honor, we’re updating a cliche watch we first posted three years ago:
At last, Russia may be turning the corner. Michael Wines, New York Times, Nov. 17, 2001
We believe that Russia has turned the corner. Senior VP of Hines Investment Firm Lee Timmins, Aug. 14, 2001
A new president has pushed through a 13-percent flat tax, a balanced budget and is working on land and regulatory reforms. Has Russia turned the corner? Alvin Rabushka, Hoover Institution, Jan. 11, 2001
The IMF has decided that Russia has enough cash to pay its debt. Revenues from high global energy prices as well as reports of higher-than-expected Russian GDP growth are causing some analysts to conclude that the Russian economy has turned the corner. St. Petersburg Times, Dec. 12, 2000
Many observers say, however, that Russia has turned the corner. Center for Public Policy, Dec. 1, 2000
The equity markets began a strong rally last fall, reflecting belief the economy had finally turned the corner, and the positive impact of the rise in oil prices, a key Russian export. The street.com, David Kurapka, “Fear and Loathing in Moscow,” June 16, 2000
There are signs that Russia may be turning the corner. Prices have stabilized, the economy is showing its first signs of growth in six years. Eric Campbell, Australian Broadcasting Corporation, Apr. 2000
Nevertheless it is upon such differential data that claims are made that the Russian economy has turned the corner and is on the road to better things. The Conflict Studies Research Center, Professor A. Kennaway, “The Russian Political Economy 1999”
Nevertheless, it seems plausible, on balance, that the economy as a whole is turning the corner. Organization for Economic Cooperation and Development, Apr. 15, 1999
It became apparent however, in the course of 1997 that the Russian economy was at long last turning the corner. Sunday Observer, Oct. 25, 1998
And Russia is putting its fiscal house in order, inflation is under control, and Russia’s economy has turned the corner on growth, promising the first upswing in a decade. Then-Vice President Al Gore, Mar. 11, 1998
I’m actually optimistic, especially after the agreement with the International Monetary Fund, that they’re going to turn the corner and start experiencing some real economic growth soon. Al Gore again, July 25, 1998
And, probably most important, after seven years of transitional depression, the economy appears to be turning the corner. United Nations Economic Commission for Europe, mid-1998 report
Russia seems to have been turning the corner economically in the past few weeks, having survived the effects of the economic crisis in Asia. Warsaw News, Mar. 29, 1998
But I am still very optimistic about Russia’s future. It looks like the country has finally turned the corner on economic growth. George Munoz, President and CEO, Overseas Private Investment Corporation, Mar. 19, 1998
The Ambassador said the Russian economy has turned the corner and is now on a positive growth path. Princeton Club Newsletter, Mar. 1998, on visit from Russian Ambassador Yuli Vorontsev
Because as Russia’s long-suffering economy finally turns the corner to growth, well-managed local producers of consumer goods have nowhere to go but up. Mark Whitehouse, Moscow Times, Feb. 24, 1998
Russian Economy May Be Turning Corner Mitchell Landsberg, AP, Jan. 26 1998
I believe Russia is at a turning point. Strobe Talbott, Sept. 19, 1997
Current estimates show that the government is collecting 18% of the tax revenue it should be. While this course of events had a disastrous effect on the Russian economy, Gordon sees hope on the horizon because the domestic economy seems to have turned the corner and is now growing. Gordon Smith, Stanford Lecturer, while on North Pole Expedition, July 25, 1997
The ’97 wave will be based on the realization that Russia is turning the corner. Dirk Damrau, then-managing Director for Research at Renaissance Capital, Dec. 31, 1996
The economy seems to be turning a corner. Bruce Nelan, Time, Mar. 18, 1996
Russia, long regarded by international investors as an economic disaster area, is close to turning the corner. Brian Caplen, AsiaNet, Sept. 1, 1995
Despite political problems and the messy Chechen war, many analysts say the Russian economy is turning the corner and see plenty of investors keen to put their money into the country as soon as issues such as debt are resolved. Jonathan Thatcher, Moscow Times, July 1, 1995
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