freediver wrote on Apr 7
th, 2024 at 8:27pm:
thegreatdivide wrote on Apr 7
th, 2024 at 3:48pm:
freediver wrote on Apr 7
th, 2024 at 2:44pm:
Are you saying that Detroit's slums are caused by the government going into debt instead of printing money?
No, I'm saying Detroit's slums resulted from failure of Detroit to compete with Tokyo (and Stuttgart), in an
unregulated global free market.
And in similar fashion all over again, China is about to demolish the West's - including Japan's and Germany's - EV car industries, hence the US determination to exit free global trade via "decoupling".
So where exactly is the "failure"? And what does it have to do with the US government not printing money?
The US government IS 'printing money', the US deficit is projected to reach $100 trillion by the end of the decade, meaning $100 trillion will have been spent by the government but not 'paid' for.
Mainstream orthodox economists are making a song and dance about it, but if they try to reduce the deficit - by reducing government spending or raising taxes, the economy will go into recession, or the voters will revolt.
[Indeed, voters want Trump's unfunded tax cuts to remain in force, while Biden is promising tax cuts on incomes less than $400K; yet both men want to get elected, without slashing Medicare and Medicade payments which the voters also want maintained....].
The problem is China ISN'T 'printing'
enough money; it has one of the lowest central government debt to GDP ratios in the world (not including debt of regional governments which the PBofC can write off, because the Chinese government issues the yuan out of thin air like the US issues dollars out of thin air ("money printing") ].
Quote: You seem to change the subject with every post. You don't actually understand or explain everything. You merely have an endless list of slogans to parrot.
Refuted above; your ignorance of how governments fund their spending renders you incapable of understanding economic 'failure'.
Quote:How is this different to the way I phrased it?
See above.
Forum
Pages: 
Chinese Communist Party Propaganda (Read 33396 times)
