The present-day crediting is a social technology of fail-free individual involving in the system of imposed consumption. In the basis of technology there is a manipulation based on separation of purchase and payment, which dulls the sense of responsibility and risk perception. Crediting intensifies consumption, contributes to maximize corporate profits, but also simulates the desired social structure. The price of such economic and social upward distortions, sooner or later, is paid in a form of consumer credit crisis and massive social defaults, which happened in Russia in 2015. It’s an illusion to associate these processes only with sanctions and the geopolitical situation in which Russia finds itself today. Persistent symptoms, that the population has gained too much credit and that in the short term it will cause big problems not only for banks but also for the state, appeared in 2013. In 2013 nobody could imagine the sanctions, events in the Ukraine and the Crimea, future attempts of Russia’s geopolitical isolation. But experts were persistently saying that, if crediting continues at the same rate, in 2015 massive defaults on unsecured retail loans may occur.
Author page: Tatiana Ivanova
In terms of consumption Russia was seeking to “catch up and surpass„ the West, but was doing so in a unique style of glare and poverty “all in one„.
We sweated, as those slaves in the galleys under tons of volcanic ash, we floated through oil spills, terrorist attacks and global crises, overcoming fires and icy rains, we were re-inventing Russia and the world just to find ourselves in 2010 in the starting point.