Even the IMF is worried biden is spending money he doesn't

Jmac00

Jmac00

.475 A&M Magnum
Messages
17,775
Reaction score
48,356
Location
somewhere in America
www.theepochtimes.com

IMF Issues Warning to Biden Admin on Out-of-Control Deficit Spending

‘Something will have to give,’ the IMF warned of high deficit spending and the risk that it could spiral further out of control in an election year.
www.theepochtimes.com www.theepochtimes.com
Click to expand...

The International Monetary Fund (IMF) has sounded the alarm on the Biden administration’s high deficit spending, warning that its fiscal stance and ballooning public debt threaten to stoke inflation and possibly even spark financial chaos.

“The fiscal stance, out of line with long-term fiscal sustainability, is of particular concern,” IMF economists wrote in a recent blog post, which accompanied the release of the group’s latest editions of the its Fiscal Monitor and its World Economic Outlook Report, which both warn of acute risks to public finances in an election year in which much of the political discourse is loudly in favor of fiscal expansion.
 
spat

spat

.700 Nitro Express
Messages
26,155
Reaction score
54,372
Location
Formerly Geneseo, NY. Now free in AZ
They've been spending money they don't have for decades. That's where inflation comes from.

What they're doing now is opening the flood gates past what the system can absorb.

It's like immigration. We've always had immigration. Society can absorb a fair amount of immigration essentially forever.

But, when immigration starts exceeding the domestic birth rate, you are doomed.

It's like that with a deficit too. You can absorb a certain % of GDP, but if you exceed it by too much, or for too long, the whole house of cards collapses.
 
Last edited:
SomeSoldier

SomeSoldier

.450/400 Nitro Ex
U.S. Military
Messages
9,598
Reaction score
18,453
Location
Florida
spat said:
They've been spending money they don't have for decades. That's where inflation comes from.

What they're doing now is opening the flood gates past what the system can absorb.

It's like immigration. We've always had immigration. Society can absorb a far amount of immigration essentially forever.

But, when immigration starts exceeding the domestic birth rate, you are doomed.

It's like that with a deficit too. You can absorb a certain % of GDP, but if you exceed it by too much, or for too long, the whole house of cards collapses.
Click to expand...

They are intentionally destroy this country. There is no other alternative.
 
Last edited:
SonOfSun

SonOfSun

.308 Win
Messages
4,048
Reaction score
4,787
Location
WNY
IMF, dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
 
SonOfSun

SonOfSun

.308 Win
Messages
4,048
Reaction score
4,787
Location
WNY
spat said:
They've been spending money they don't have for decades. That's where inflation comes from.

What they're doing now is opening the flood gates past what the system can absorb.

It's like immigration. We've always had immigration. Society can absorb a fair amount of immigration essentially forever.

But, when immigration starts exceeding the domestic birth rate, you are doomed.

It's like that with a deficit too. You can absorb a certain % of GDP, but if you exceed it by too much, or for too long, the whole house of cards collapses.
Click to expand...
It's more or less personal finance on a grand scale. You can take out a manageable loan, but if you accrue a million dollars in debt and only make 50k a year, you're fucked.
 
spat

spat

.700 Nitro Express
Messages
26,155
Reaction score
54,372
Location
Formerly Geneseo, NY. Now free in AZ
SonOfSun said:
It's more or less personal finance on a grand scale. You can take out a manageable loan, but if you accrue a million dollars in debt and only make 50k a year, you're fucked.
Click to expand...
Macro economics (whole economies) works very differently than micro economics (personal finance).

People constantly make that mistake.

In micro economics, it's all about money, and you just assume that if you have the money you can buy as much of a resource as you want.

In macro economics, you have as much money as you want, but the resources aren't unlimited.

There is literally no limit to the amount of money the government can print, but there *is* a limit to the things they can buy with it. It's almost the opposite if micro.

People treating the government finances like personal finances is how we get in this problem. They seem to think "we need more money, so we should raise taxes" isn't insane. You already have as much money as you want. Taxes are merely a tool to control behavior and control the money supply.
 
GOPerfect

GOPerfect

.700 Nitro Express
LEO / LEA
Messages
28,614
Reaction score
64,138
Location
No longer Secret, thanks DR. Evil
spat said:
Macro economics (whole economies) works very differently than micro economics (personal finance).

People constantly make that mistake.

In micro economics, it's all about money, and you just assume that if you have the money you can buy as much of a resource as you want.

In macro economics, you have as much money as you want, but the resources aren't unlimited.

There is literally no limit to the amount of money the government can print, but there *is* a limit to the things they can buy with it. It's almost the opposite if micro.

People treating the government finances like personal finances is how we get in this problem. They seem to think "we need more money, so we should raise taxes" isn't insane. You already have as much money as you want. Taxes are merely a tool to control behavior and control the money supply.
Click to expand...

You ever watch the movie In Time? This is a great depiction of what you are saying. Instead of cash and money, life is based upon time. Time can be endless, but as you get more time, the cost of everything goes up. Do you really have more time?
 
You must log in or register to reply here.
Top