I live in France, am not rich, so I believe I can comment fairly confident of what I say. Inflating the economy is NOT good. Yes, the word is to keep the national spendings under 3% because that is the level where the nation can't catch up with its debt, and finally end up like Greece has ended up. China won't put its people to poverty? I think you seriously need to take a trip there. As for the USA, is the size of a super nation gives them flexibility... however, don't believe that it's an almighty shield when badly handled, the economy will explode.
It's because we're aware of the debt inflation, and the state's debt that in Europe, our economy is relatively more stable than it was when we were different states.
@intellihandling @dennyfloro
I am an American and would not encourage either of you to think somehow the USA is going to escape the consequences of what @crypto.piotr is writing about here in his post.
The financial challenge we face is (IMHO) greater than understood by most Americans. And I further believe that it does not matter whether there is a Republican (today) or Democrat (tomorrow?) in power. Politically speaking, the honest solution to our financial woes is greater than anyone is prepared to even acknowledge, let alone address ...
As with much of the world, if “we the people” were told the truth of what it would take to get out of this mess, we (collectively) would say, ”What?! That can’t be the answer! I’m not doing that …”
@roleerob I believe you must have mistaken my post's meaning.
I don't believe Americans will get out of this crisis anytime soon. It's not some finger-snapping kind of problem. Plus, from what I've heard, a certain someone could be reelected. If that happens, before the economy is a problem, democracy in and per itself will be a bigger issue, I think.
Okay @djennyfloro, perhaps, but ...
... my primary point remains the same. It does not matter who is elected. The financial problem we face is greater than either party or any elected official ...
Thank you for your amazing comment @roleerob
Dear @djennyfloro, thank you for your answer, but this matter of 3% Is the warm of poverty...
I was in China in january and i can tell you they have Better economic Life, but they pay for It with limited Freedom, no facebook, Google, WhatsApp, only WeChat which gave to chinese goverment the pass to check users.
I was in Usa 3 weeks ago and they live in another world, their president gave them guns and limitations of immigrants, this Is what they Need, living in their Happy world with no caring that much what Is going on in other countries....
Posted using Partiko Android
Many US citizens are not only blind to the outside world, they're also oblivious to what's happening in their own country.
Dear @djennyfloro
Thank you for your great comment.
Is this problem with not being capable of paying debt really related to those 3% national spendings? Isn't more related to ratio between debt and GDP? Just wondering.
Recently I've bumped into this site: https://www.usdebtclock.org/world-debt-clock.html
It does shows debts of all major countries and I noticed that with few exceptions everywhere debt is increasing. However 4 countries (including Poland and Germany) seem to have their debt going down.
And I was wondering how could that be possible? Also I realized that Poland has very good ratio between debt to GDP (around 50%), which is great comparing to countries like France (107%) or Italy (147%). Not to mention JApan (261%).
I found it so confusing. It would suggest that Poland have more stable economy than majority countries out there. Looking at those numbers could even suggest that Japan is serious financial trouble.
Mind sharing your thoughts?
Yours
Piotr
Hi @crypto.piotr
I'd rather not step into deeper depth, this is not my field of expertise, and rather than to spurt nonsense, I'd rather simply say that I was explained about the 3% by someone who is great in Finance & analytics.
I was not able to retain the entirety of his explanation, but it made total sense. I'm much too unfamiliar with English acronyms overall to fully understand your answer too, so I'll look into it too.
Friendly,
DF.
Dear @djennyfloro
I just realized that I never actually thanked you for your amazing comment. I absolutely appreciate it.
Perhaps you could also visit my latest post and share your own view on discussed topic. I would love to hear your opinion.
Yours
Piotr