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To: Jim Willie CB who wrote (6684)	8/16/1998 4:11:00 PM
From: LLCF	Respond to of 10921

<tidbit on Russian economy: 1/3 of all business activity is within their black market... perhaps the largest black market in the world, more like a barter market now using US$ more and more....1/3 of all businesses in Russia do not pay their proper taxes... stems from black barter market their federal govt is simply destitute> But is that bullish or bearish? DAK

To: Jim Willie CB who wrote (6684)	8/16/1998 6:36:00 PM
From: Clarksterh	Respond to of 10921

Jim W - 1/3 of all businesses in Russia do not pay their proper taxes... stems from black barter market Actually, although the black market is large in Russia, the tax problem is caused by a different problem - the laws are completely incomprehensible. Imagine you had never had to deal with taxes before, but all of a sudden you were told you needed to obey laws that make the US tax code look simple and consistent. What would you do? In many circumstances if you obeyed the tax laws you would have to pay more than you made. This is slowly being fixed, but, ... . Clark PS Just as a measure of the accuracy, I know some people in Russia, and all of them with whom I have talked about it consider it impossible to actually obey the tax law.