Comments by "Persona" (@ArawnOfAnnwn) on "Why Is Oil a Curse for the Russian Economy? | @visualeconomiken" video.

Ru didn't end up like Venezuela cos they never had a leader like Hugo Chavez. Rather than distributing all that oil wealth frivolously they did the opposite - saved like crazy. Even now their public debt is very low. They built up a massive reserve of over 600 bill, half of which Europe froze but it still shows how much they were being frugal. Wages were also suppressed by curbing welfare. Meanwhile massive strategic investments were made, for instance their Arctic development project is to the tune of 300 bill. This is in anticipation of global warming opening up the Arctic, which they intend to dominate. Ironically the military spending now is actually sending more of that wealth finally down to the people, as they have to offer generous salaries for joining the army. But upto now they were fortifying the country in preparation for this.
3
These guys have their issues, but Icarus is FAR more biased. I'd take their analysis over his anyday. He's basically the Ru equivalent of Chi Uncensored.
2
This isn't very true of Ru, cos those demands have been suppressed. Instead they used the money to save like crazy. Even today their public debt is very low, and they had 600 bill in reserves. Europe froze half of that, but it still shows how much they were building it up. They also invested heavily into the Arctic, to the tune of over 300 bill.
1