Dr Doom’s Mother-Of-All-Crises Looming
We are yet to see whether it will be a hard landing or a soft landing by the end of 2023.
Biden’s administration has shamelessly pumped thousands of billions of dollars into the state financial system for less than two years announcing even a brand new ‘New Deal’ and new financial incentives. One wonders if these measures make any sense and if they get any support from ordinary Americans? How do the money printing and continual and excessive borrowing reflect onto the U.S. economy, and does it have any effect on global inflation the way it is forecasted by Nouriel Roubini, an economics professor at NYU Stern, nicknamed “Dr. Doom” who is warning us that the mother of all crises is looming?
Time will tell whether these measures make any sense or not. They seem not to for the time being. Biden’s administration spent about 1,900 billion dollars to offset the effects of COVID pandemic and then 400 billion dollars for the unpayable student loans, them being a major financial issue in the U.S. economy. Student loans total at about 600 billion dollars and the growing trend is that there is an ever-increasing number of unpayable student loans. Meanwhile, 400 billion dollars have been invested to stimulate the climate change-related Green Agenda. Furthermore, the Biden administration has been announcing a brand-new New Deal, which would cost 4700 billion dollars but there does not seem to be any effect afterwards. Each plan is followed by a new one, which tends to be more prohibitively expensive, which in fact boils down to merely fulfilling the vacuous pre-election pledges for Biden’s voters rather than actual genuinely effective plans.
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