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No Full Recovery Until 2045

serfserf Member Posts: 8,873 ✭✭✭✭
edited November 2021 in Politics

I tend to agree,only a renewable non-polluting energy source is going to bring back a booming economy.Now a global hot war may come in the meantime to accelerate the time table but if only it does not go nuclear. It's the end of an age and a beginning of another which is froth with Chaos.

serf

https://www.zerohedge.com/economics/rickards-towards-new-great-depression

But in fact, there is no stimulus from such spending because the U.S. debt-to-GDP ratio is now approaching 130%. There is good evidence that debt-to-GDP ratios in excess of 90% produce less growth than the amount of new debt itself.

In other words, there is no stimulus and only an increasing debt-to-GDP ratio that makes the situation worse. It’s just digging a deeper hole. At some point you have to stop digging.

The U.S. was already facing slower growth in the years ahead with or without the Biden administration’s policies because of high debt and a central bank that does not understand monetary economics.

Now that Biden’s policies are fully revealed and becoming law, it is clear that growth will be even worse than would otherwise be expected. If Biden’s trying to destroy the U.S. economy, he’s off to a very good start.

Comments

  • mac10mac10 Member Posts: 2,014 ✭✭✭✭

    the libs just want the thing ,,now if everyone got solar and batterys

  • BobJudyBobJudy Member Posts: 4,943 ✭✭✭✭

    Serf are you aware that Zerohedge is based in Bulgaria? It is owned by a former reporter that worked disseminating communist propaganda before the Soviet Union collapsed. Zerohedge has shown it is nothing but pro Russian and anti-American rhetoric. I believe they were also accused of providing a platform for foreign propaganda that tried to influence our elections. Their credibility, at least among the skeptical free thinkers, is appropriately zero. I saw a statistic a while back that even CNN was rated higher than Zerohedge for accuracy and that says a lot. Bob

  • serfserf Member Posts: 8,873 ✭✭✭✭

    The Wikipedia site says they are a far right conspiracy website? So they must have join the fascist now 😁

    serf

    https://en.wikipedia.org/wiki/Zero_Hedge

    The most strongly held belief by Zero Hedge is in Austrian economics, and that economic cycles are really credit cycles, and that the quantitative easing ("QE") by global central banks is a temporary and artificial asset-price support scheme, that makes the credit cycle even more extreme; and hence the site's strongly bearish views.[f][22] As a result of this view, Zero Hedge supports assets that are outside of the central banking system, including precious metals and gold,[25][60] and even cryptocurrencies. The site is strongly against Keynesian economics,[61] and sees quantitative easing as a Keynesian "money printing trick",[62] and vilifies advocates of this approach, such as Paul Krugman in particular.[63][g] The site praises writers with similar views, such Albert Edwards and John Hussman.

  • BobJudyBobJudy Member Posts: 4,943 ✭✭✭✭

    Nope, not fascists. Just another mouthpiece that loves Putin, Russian oligarchs and China trying to destabilise our economy for the benefit of our competitors. If you believe the slant on their reporting our economy will crash tomorrow. Of course they have said that for the last 12 years so they have been largely ineffective in influencing that outcome and their masters are probably becoming impatient. Meanwhile they sell a lot of advertising and make a lot of money by providing propaganda to the gullible that visit their site. The owners son who does most of the writing needs the money since he was fired from a broker for insider trading. Kind of convenient that he can retaliate against the system that kicked his butt out and make money while doing it. In case you haven't noticed I am a bit cynical regarding their reporting. Bob

  • serfserf Member Posts: 8,873 ✭✭✭✭

    Well Bob I am no fascist myself, but I don't like Keynesian money theory here In The USA with a Central bank spewing us into massive debt under the auspices of crooked politicians and greedy bankers. Making more debt and handing out trillions to socialists like Biden and his ilk while waiting to establish a cashless society when it finally goes bust.

    Guess who is going to own all the hard assets when they revamp the system. Yep the rich democrats and republicans running the game on us poor citizens, via The U.S., Congress. In my opinion.

    serf

  • MobuckMobuck Member Posts: 12,673 ✭✭✭✭

    Folks, I won't live that long. If this financial fiasco is going to last that long, I don't WANT to live that long, either.

  • MrMag00MrMag00 Member Posts: 519 ✭✭✭

    If you live 5 more years, you will see it. Just watched a vid by Melissa Tate who lived through the Zimbabwe collapse.  When it starts, it goes fast. The only thing that can stop it is a firm adherence to what the 2nd is really for. But nobody is willing to do so, so get your ducks lined up, 5 years...

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