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Full Article Follow Reuters Facebook Twitter RSS YouTube Read Putin says U.S. is "parasite" on global economy 01 Aug 2011 Body of missing New Hampshire girl found in river 01 Aug 2011 WRAPUP 11-House approves U.S. debt deal a day before deadline 01 Aug 2011 Serial killer Sowell weeps during sentencing phase of trial 01 Aug 2011 Rhode Island's Central Falls files for bankruptcy 01 Aug 2011 Discussed 215 Vote delayed on debt bill as default date looms 167 Debt compromise eyed under deadline squeeze 160 Putin says U.S. is a ”parasite” on global economy Watched Scientists warn of "Planet of the Apes" scenario Sat, Jul 30 2011 House votes 269 to 161 to raise debt ceiling 5:03am EDT Japan's quake brought back to life on giant globe Mon, Aug 1 2011 Putin says U.S. is "parasite" on global economy Tweet Share this Email Print Related News Deal reached to end debt crisis; downgrade still a worry Mon, Aug 1 2011 GLOBAL MARKETS-U.S. deal offers respite, but downgrade looms Mon, Aug 1 2011 WRAPUP 13-Top lawmakers seal U.S. debt deal but hurdles remain Sun, Jul 31 2011 Lawmakers close to deal to avoid default Sun, Jul 31 2011 Answers to the 7 big "what-ifs" of debt default Sat, Jul 30 2011 Analysis & Opinion Debt, dogma, and dents in US image India and Pakistan: moving out of intensive care Related Topics World » Russia » Russian Prime Minister Vladimir Putin answers questions from the audience during his visit to the summer camp of the pro-Kremlin youth group ''Nashi'' at lake Seliger, some 400km (248miles) north of Moscow, August 1, 2011. Credit: Reuters/Mikhail Metzel/Pool By Maria Tsvetkova LAKE SELIGER, Russia | Mon Aug 1, 2011 5:45pm EDT LAKE SELIGER, Russia (Reuters) - Russian Prime Minister Vladimir Putin accused the United States Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets. "They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow. "They are living like parasites off the global economy and their monopoly of the dollar," Putin said at the open-air meeting with admiring young Russians in what looked like early campaigning before parliamentary and presidential polls. US President Barack Obama earlier announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded. The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade. "Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision." But Putin, who has often criticized the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries. "If over there (in America) there is a systemic malfunction, this will affect everyone," Putin told the young Russians. "Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies." U.S.-Russian ties soured during Putin's 2000-2008 presidency but have warmed significantly since his protégé and successor President Dmitry Medvedev responded to Obama's stated desire for a "reset" in bilateral relations. EARLY CAMPAIGNING? Casually dressed in khaki trousers and a striped white shirt, Putin flew by helicopter to the tented camp as part of a string of appearances that are being closely watched in the run-up to the elections. He did not say whether he plans a return to the Kremlin or will stand aside for Medvedev, his partner in Russia's leadership tandem, to run for a second term. But young people crowding round Putin, caught up in the campaigning spirit created by huge portraits of Putin hung from trees, were not shy about saying who they wanted as president. "Russia's next president will be small, bald and look like Putin," 17-year-old Ilya Mzokov joked with reporters. Asked why Medvedev was not paying a visit to the summer camp, he said: "Only serious people come here." Youngsters chanted Putin's name and applauded his remarks as he strolled round the camp, where US-style business seminars, extreme sports and political mudslinging were among the topics on offer. Putin, whose macho image appeals to many Russians, briefly swung himself up the first half of a climbing wall, filmed by a gaggle of state television cameras. Nashi, which means "Our People," was created by the Kremlin to counter popular dissent after youth activism helped topple a pro-Moscow government in Ukraine's 2005 Orange revolution. The group has worked to spread a personality cult around Putin and regularly campaigns against Kremlin critics. Opinion polls show Putin, still widely viewed as the country's paramount leader, retains near 70 percent approval. But his United Russia party is trying to reverse a slide in popularity before December parliamentary polls, hoping to use a strong showing there to help Putin in the March 2012 presidential vote. (Writing by Alissa de Carbonnel; editing by Tim Pearce) World Russia Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (160) dobermanmacleod wrote: Let me reverse that “parasitic” trend: Ni+H+KaCO3(heated above 70C at 22 bars)=Cu+lots of heat. This is the formula for a LENR reaction that yields an amazing 1.7 billion calories per gram of nickel. No residual radiation. Clean, very cheap (estimated 90% savings over conventional energy technology), and abundant (nickel is 3% of the mass of the Earth). The future is so bright, we will have to wear shades! Aug 01, 2011 3:26pm EDT -- Report as abuse Chris_colorado wrote: Easy for them and the free oil money. Russia is a petro-state. Stinkers. Aug 01, 2011 3:27pm EDT -- Report as abuse BuckeyeNick wrote: The sad fact is that he’s right. We do live beyond our means and raise risk for everyone. Aug 01, 2011 3:32pm EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) 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