Posted on 07/12/2021 6:56:51 PM PDT by Hojczyk
A rising number of economist have warned Joe Biden’s policies could turn the U.S. into a Latin American type of economy. On Monday, Former International Monetary Fund Deputy Director Desmond Lachman said Biden’s inflation, money printing and high government spending posed a problem for the U.S. economy.
Lachman said Biden’s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S.
Lachman went on to point out such policies lead to devaluation of the national currency and fuel poverty, as seen in many Latin American countries.
“What we’ve already got in the pipeline is going to cause inflation,” he asserted. “Now if you can add infrastructure plan and the families plan, and it’s not going to be properly financed with real taxes that restrain spending, then you’re just going to be adding to the inflationary pressures.” Lachman added the federal reserve would have to raise interest rates and halt money printing to curb inflation. However, he said this wouldn’t help solve budget problems.
“What I think has gone wrong in this country is that there’s no real constituency for anything vaguely approaching a responsible budget policy,” he expressed. “This is how we see that budget deficit keeps rising and the debt keeps rising.”
Lachman went on to warn Biden’s policies will eventually result in bubbles bursting in the housing and stock markets, which could bring on a new recession in the nation.
(Excerpt) Read more at oann.com ...
The communists have exploded the national debt to enslave us and if we have a revolution that money is never going to be paid back nor should it.
Biden is doing nothing ,it’s the committee of women President coming up with all the crazy
Let’s give Desmond Lachman 10 votes on the Impeachment Committee and assign him to the Chairman position
Not a congressman???
Well, DEEM him to be one!
“Susan Rice
Director, Domestic Policy Council at The White House
Susan Rice was former President Barack Obama’s ambassador to the United Nations from 2009 to 2013 and then became his national security adviser. Rice also had a senior role in the State Department during the Clinton administration. She has served on the board of directors at Netflix since 2018.”
https://theorg.com/org/the-white-house/org-chart/susan-rice
There are five other people listed for the Domestic Policy Council. Take a look at their titles.
Ron Klain
Chief of Staff
Catherine Lhamon
Deputy Director of the Domestic Policy Council for Racial Justice and Equity
Carmel Martin
Deputy Director of the Domestic Policy Council for Economic Mobility
Linke Young
Deputy Director of the Domestic Policy Council for Health and Veterans Affairs
Esther Olavarria
Deputy Director of the Domestic Policy Council for Immigration
All 50 states are not going to follow the Federal government off the cliff. I’m pretty sure. I think.
Barak’s Turd Term. He lost ground during Trump.
It is time for the red states to collect federal income tax money....you fill out the federal form and send it to the state....the state sends the Feds money for defense and a few other things.....and takes no money for things like the education dept...environmental agency..etc. and follows no federal regulations..
All 50 states are not going to follow the Federal government off the cliff. I’m pretty sure. I think.
____
The cannot stop it, unfortunately.
As long there is common currency, we all are going down. Federal government is printing the money. There is nothing states can do.
The only thing is to split and use different currency.
It does not look like this is coming yet.
There is nothing states can do.
Start using gold and silver as money and ignore federal laws that make it difficult to do do.
Well, that means using different currency, silver or paper, bitcoin or mussel shells. The physical nature of money is irrelevant.
You just made my point.
The problem is that we are using the same currency. When Greeks inflated the Euro, the whole Eurozone suffered.
In 1920, when faced with massive inflation in Germany, Austria and Hungary, the Czechoslovak government closed its borders for few days and officially stamped all the circulating money citizens brought to the offices. The stamped money then became the only valid currency in Czechoslovakia, until new money could be introduced. That saved the country from the perils of its neighbors!
It is still described as one of the greatest economic miracles ever done!
I do not see Texas doing this, yet!?
Do you?
China is pulling the strings.
I guess topping walls with broken glass will be the new/final growth industry in what used to be America.
Bfl.
> The only thing is to split and use different currency.
It does not look like this is coming yet.
Not yet. If things get bad enough, I think they just might.
‘Lachman said Biden’s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S’
You cannot implement a new form of Government (Socialism) until you bankrupt/destroy the form in place.
Does ANYONE, REPUBLICAN AND DEMOCRAT, think that isn’t the plan already? And he has to complete it in two years as the cheating in 2020 WON’T (hopefully) be allowed to happen again. Republicans need to grow a spine quickly or our Republic will be lost.
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