The cause of its economical malayse, which to be fair it is climbing out of, can be traced to the political turmoil which was the mid-late 80's and the Yelsin regime.

Such events are more devastating than a recession or depression. In an economic sense.

If a Countrys currency and "Credit rating" (which is based on both internal and external perceptions on stability and trustworthiness) fall. The country cannot build up, or in some cases even properly maintain a military.

This is most evident on Naval resources. Ships are expensive to, and require consistant, maintain(ing.) Much of the Russian navy requires some intensive work due to lapses, and with some vessels it may not be pratical to do so.

But, there is a bright side.

The current leader (Putin) and his administration, appear to have both intellectual currency and common sence. Given enough time, there is a good chance they will build russia into a Military and Economic stakeholder.

And I wonder why they did not fall into Paris Group recievership, and with the potental mineral wealth of that nation it would make a fine trophy. With him and his selected people in control of the country, it would not have been impossible. Legal manipulation in conjunction with business aquisitions and Russia remains in name alone, just a figurehead.

The forementioned is a interesting might-have-been.

Gorbachev started the downward sprial, but, Boris greased the rails.
This is in reference to economics only.

As far as the "Booming" US economy?

If viewed in a broad sense, yes.

Why?

This administrations policies have greatly increased the top 10%'s(that is a very liberal number most have it at 2-5%) bottom line. through tax breaks and other incentives, even ones that encourage moving higher wage manufacturing jobs overseas, and replacing them with generally lower paying service industry jobs i.e. Wall/Mc jobs.

Then take some like Mike Barone from US News & Weekly Report, who take samples from a small segment, The ones whom don't want full time, high wages, or benefits(medical for example), the latter two are qualified by using the "benefits & high wages would affect social security and medicaid programs some may be receiving" argument.

Add a bit of "falling unemployment." Just forgetting to inform that the rate is calculated by the number of employed against the number receiving unemployment benefits. And the ones looking for a 1st job, did not qualify for or exausted unemployment benefits do not factor in.

For whatever reason, neglecting the over 60% whom have seen wages fall but the C.O.L.(Cost Of Living, based on necessities, adjusted for region)keeps on growing.

Neglect to inform that the Federal Reserve Bulletin, January 2002 listed the Gross Public (National) Debt at 5.662 trillion dollars and 21.2% of that was held by Foreign interests,
and both have increased.

There you have it. A Booming Economy!

Yes, I did not go into all the long worded, "traditional" econoese talk and theory. Why? Make it simple, yet informative as can be. So all can understand.

PS: Although many of the haves and have mores are prospering due to the "job export craze," most of their holdings have ended up in China, whom could in time say "F-U ours now."

Whom also by-the-way holds the largest peice of the Foreign Interest controlled portion of the National Debt cake.

One may say "what can they do about it?"
Please refer to the begining of my post, and remember although the average American would never even think about selling the country. There are those such as CEO's and "Job exporters" who would not give it a second thought. And lets not forget the "Bush Neo-cons" whom make Yelsin and his bozos look almost competent.

Yes, Russias recent bridge-building to China was a deft move.

It is mutually benefical in other ways.

China is a devloped and fast growing manufacturing economy, but, its natural resources are rumored insufficent to sustain or expand this trend.
So enters Russia, and with great fortune for both, a sizable portion of Russias substantial mineral endowment lies near (relatively) China.
Which with its growth is able to build a workable transportation superstructure.