>Tracy,
>
>I seem to remember reading a statement by Gorbachev to the effect that they were seriously in jeopardy of bankruptcy too. This just to say it sure seems spot on.
>
>Now the question... I wonder how it is that a communist "command economy" can go bankrupt? I understand how bankrputcy happens in capitalist countries, but have no idea how it can happen in a communist country.


Even they had to pay for what they buy from other countries, I would think.

They didn't have the money to buy anything. I guess they could have taken resources of other's by force, but Gorby was a decent/moderate communist. :-)