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Article and 12 min video. 08 92 21 >>>https://www.newsmax.com/politics/navarro-money-economy-china/2021/08/02/id/1030886/ <<<<
Peter Navarro, an economics expert, author and former financial adviser to President Donald Trump told Newsmax on Monday that the nation's economic policies are ''leading the country down a road of financial ruin.' What Biden is doing is appropriating trillions and trillions of dollars. That's demand-pull inflation. The pandemic itself is creating what we call ‘cost' or ‘supply shock' inflation, like [computer] chips for cars. Global supply disruption is the poster child for that. (Also) we have weird labor market disruptions... a huge problem. In addition, millions of people are still collecting government checks rather than working because it means more money coming in. It’s a national crisis...”
Navarro also said that the nation needs to wean itself from financial dependence on China, which owns a massive amount of the country's $28 trillion debt and may end up owning more if the debt increases with the new proposed spending.
“China can destabilize our bond markets and stock markets simply by dumping some of those bonds onto those markets. We have to wean ourselves from that Chinese dependence, but we're certainly not going to do it moving in the direction we are, which is into a really debt-laden economy that we have never seen before in our history.''
Peter Navarro, an economics expert, author and former financial adviser to President Donald Trump told Newsmax on Monday that the nation's economic policies are ''leading the country down a road of financial ruin.' What Biden is doing is appropriating trillions and trillions of dollars. That's demand-pull inflation. The pandemic itself is creating what we call ‘cost' or ‘supply shock' inflation, like [computer] chips for cars. Global supply disruption is the poster child for that. (Also) we have weird labor market disruptions... a huge problem. In addition, millions of people are still collecting government checks rather than working because it means more money coming in. It’s a national crisis...”
Navarro also said that the nation needs to wean itself from financial dependence on China, which owns a massive amount of the country's $28 trillion debt and may end up owning more if the debt increases with the new proposed spending.
“China can destabilize our bond markets and stock markets simply by dumping some of those bonds onto those markets. We have to wean ourselves from that Chinese dependence, but we're certainly not going to do it moving in the direction we are, which is into a really debt-laden economy that we have never seen before in our history.''
1030886
Posted from newsmax.com
Office of the President (POTUS)
Survival
Economy
Jobs
China
Edited >1 y ago
Posted >1 y ago
Responses: 4
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The Democrats seem to want our economy to crash and burn. I don't understand it.
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SPC Terry Page
They want as many people dependent on government as as they they can (They achieve dependence for their constituency and power/control for themselves). We loose freedom.
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At some point we must deal with deficit spending, I fear it will be only when the debt is so large that we can only pay the interest. It seems that everyone wants to follow the Japanese model that debt can be carried forever. With the country seemingly split in half on every issue, it makes problems like this difficult to solve.
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How to Survive an Economic Collapse | RallyPoint
Ideas for how to survive an economic collapse in the country.
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