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IMF Economist: Biden’s Policies To Turn U.S. Into Latin American-Style Economy

Obiwan

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According to the experts at the IMF, the Fucktard's economic policies will collapse our economy....

Welcome to living in a third-world country!!!!


A rising number of economist have warned Joe Biden’s policies could turn the U.S. into a Latin American type of economy. On Monday, Former International Monetary Fund Deputy Director Desmond Lachman said Biden’s inflation, money printing and high government spending posed a problem for the U.S. economy.

Lachman said Biden’s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S.

Lachman went on to point out such policies lead to devaluation of the national currency and fuel poverty, as seen in many Latin American countries.

“What we’ve already got in the pipeline is going to cause inflation,” he asserted. “Now if you can add infrastructure plan and the families plan, and it’s not going to be properly financed with real taxes that restrain spending, then you’re just going to be adding to the inflationary pressures.”

Lachman added the federal reserve would have to raise interest rates and halt money printing to curb inflation. However, he said this wouldn’t help solve budget problems.

“What I think has gone wrong in this country is that there’s no real constituency for anything vaguely approaching a responsible budget policy,” he expressed. “This is how we see that budget deficit keeps rising and the debt keeps rising.”

Lachman went on to warn Biden’s policies will eventually result in bubbles bursting in the housing and stock markets, which could bring on a new recession in the nation.


  • Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to a survey conducted by The Wall Street Journal.
  • “We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”
  • The consumer price index, an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed.
Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to surveyed economists.

We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”

Inflation will fall slightly to 2.3% annually in 2022 and 2023, the economists predicted, the WSJ reported. Overall, prices would increase 2.58% per year over the next three years, the sharpest inflation increase since the 1990s, if the projection is correct.

The consumer price index (CPI), an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed. The personal consumption expenditures index, which is used by the Federal Reserve, surged 3.4% in the 12-month period ending May, the biggest leap since 1992.

American consumers’ fear of inflation has also hit new highs as gasoline, food, health care and home prices have ticked up in recent months.

“I’m not saying hyperinflation is around the corner, just that a lot of things have come together in the last year, and the overall trend of costs across the board is growing faster than in the last five or 10 years,” American Chemistry Council chief economist Kevin Swift said, according to the WSJ.

“Inflation is expected to surge longer and longer — longer than the Fed previously thought,” Grant Thornton chief economist Diane Swonk told the WSJ. “The Fed is now likely to raise rates in the first half of 2023, although some Fed presidents will be nipping at the bit to move sooner.”

Several economists have sounded the alarm on large, trillion-dollar spending packages backed by President Joe Biden, arguing they will drive inflation further. Former Treasury Secretary Larry Summers and Peter Schiff, the chief economist and global strategist at Euro Pacific Capital, said the government is the cause of increased prices.

“The 100% cause of inflation is the government,” Schiff previously told the DCNF. “It’s when the government spends money that it doesn’t collect in taxes and then the Federal Reserve monetizes the resulting deficits by printing money.”
 

CowboyTed

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Nothing new here which the Trumpsters had no problem when Trump was spending like aa drunken sailor...

There is very little quotes of Lachman himself and no quote of 'Latin America'... This is an OAN article which can be taken with a gain of salt...

There was nothing wrong when Trump did it... Same old story, becoming fisical conservatives as soon as your kicked out of the WH..
 

Dragonlady

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According to the experts at the IMF, the Fucktard's economic policies will collapse our economy....

Welcome to living in a third-world country!!!!


A rising number of economist have warned Joe Biden’s policies could turn the U.S. into a Latin American type of economy. On Monday, Former International Monetary Fund Deputy Director Desmond Lachman said Biden’s inflation, money printing and high government spending posed a problem for the U.S. economy.

Lachman said Biden’s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S.

Lachman went on to point out such policies lead to devaluation of the national currency and fuel poverty, as seen in many Latin American countries.

“What we’ve already got in the pipeline is going to cause inflation,” he asserted. “Now if you can add infrastructure plan and the families plan, and it’s not going to be properly financed with real taxes that restrain spending, then you’re just going to be adding to the inflationary pressures.”

Lachman added the federal reserve would have to raise interest rates and halt money printing to curb inflation. However, he said this wouldn’t help solve budget problems.

“What I think has gone wrong in this country is that there’s no real constituency for anything vaguely approaching a responsible budget policy,” he expressed. “This is how we see that budget deficit keeps rising and the debt keeps rising.”

Lachman went on to warn Biden’s policies will eventually result in bubbles bursting in the housing and stock markets, which could bring on a new recession in the nation.


  • Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to a survey conducted by The Wall Street Journal.
  • “We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”
  • The consumer price index, an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed.
Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to surveyed economists.

We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”

Inflation will fall slightly to 2.3% annually in 2022 and 2023, the economists predicted, the WSJ reported. Overall, prices would increase 2.58% per year over the next three years, the sharpest inflation increase since the 1990s, if the projection is correct.

The consumer price index (CPI), an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed. The personal consumption expenditures index, which is used by the Federal Reserve, surged 3.4% in the 12-month period ending May, the biggest leap since 1992.

American consumers’ fear of inflation has also hit new highs as gasoline, food, health care and home prices have ticked up in recent months.

“I’m not saying hyperinflation is around the corner, just that a lot of things have come together in the last year, and the overall trend of costs across the board is growing faster than in the last five or 10 years,” American Chemistry Council chief economist Kevin Swift said, according to the WSJ.

“Inflation is expected to surge longer and longer — longer than the Fed previously thought,” Grant Thornton chief economist Diane Swonk told the WSJ. “The Fed is now likely to raise rates in the first half of 2023, although some Fed presidents will be nipping at the bit to move sooner.”

Several economists have sounded the alarm on large, trillion-dollar spending packages backed by President Joe Biden, arguing they will drive inflation further. Former Treasury Secretary Larry Summers and Peter Schiff, the chief economist and global strategist at Euro Pacific Capital, said the government is the cause of increased prices.

“The 100% cause of inflation is the government,” Schiff previously told the DCNF. “It’s when the government spends money that it doesn’t collect in taxes and then the Federal Reserve monetizes the resulting deficits by printing money.”

The IMF has a terrible reputation for destroying the economies of the nations they are purporting to assist, by imposing draconian right wing economic austerity.

The IMF bail outs of South American economies in the 1970’s, and the economic “reforms” they required to provide assistance are why Central and South American countries are such economic messes.
 

Mac1958

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Typical OAN reporting.

I notice they don't point out that Desmond Lachmann is now a Senior Fellow at the American Enterprise Institute, a conservative "think tank". I notice they don't say anything about the profligate spending of the guy who was in office not nine months ago. Spending that would make Keynes turn over in his grave. And I don't see an actual quote were Lachmann actually brings up Latin American countries. Looks like OAN slipped that in.

Typical OAN reporting.

There are plenty of people in the finance industry who feel otherwise. And no one knows for sure. Inflation now will depend on whether supply chains (look it up) can be repaired fully without being overwhelmed by demand. Here in the real world.

People just swallow this stuff, if it's alternate universe-approved "news" and "information". Zero curiosity to dig and find out more.
 
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shockedcanadian

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According to the experts at the IMF, the Fucktard's economic policies will collapse our economy....

Welcome to living in a third-world country!!!!


A rising number of economist have warned Joe Biden’s policies could turn the U.S. into a Latin American type of economy. On Monday, Former International Monetary Fund Deputy Director Desmond Lachman said Biden’s inflation, money printing and high government spending posed a problem for the U.S. economy.

Lachman said Biden’s policies could push the U.S. budget deficit up to 15 percent per year. He warned this was not a sustainable level of deficit spending, which may bankrupt the U.S.

Lachman went on to point out such policies lead to devaluation of the national currency and fuel poverty, as seen in many Latin American countries.

“What we’ve already got in the pipeline is going to cause inflation,” he asserted. “Now if you can add infrastructure plan and the families plan, and it’s not going to be properly financed with real taxes that restrain spending, then you’re just going to be adding to the inflationary pressures.”

Lachman added the federal reserve would have to raise interest rates and halt money printing to curb inflation. However, he said this wouldn’t help solve budget problems.

“What I think has gone wrong in this country is that there’s no real constituency for anything vaguely approaching a responsible budget policy,” he expressed. “This is how we see that budget deficit keeps rising and the debt keeps rising.”

Lachman went on to warn Biden’s policies will eventually result in bubbles bursting in the housing and stock markets, which could bring on a new recession in the nation.


  • Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to a survey conducted by The Wall Street Journal.
  • “We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”
  • The consumer price index, an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed.
Inflation is expected to remain elevated and drive consumer prices higher for several more years, according to surveyed economists.

We’re in a transitional phase right now,” Joel Naroff, chief economist at Naroff Economics, told the WSJ. “We are transitioning to a higher period of inflation and interest rates than we’ve had over the last 20 years.”

Inflation will fall slightly to 2.3% annually in 2022 and 2023, the economists predicted, the WSJ reported. Overall, prices would increase 2.58% per year over the next three years, the sharpest inflation increase since the 1990s, if the projection is correct.

The consumer price index (CPI), an inflation indicator tracked by the Department of Labor, increased more between June 2020 and May than it has in any other 12-month period since August 2008, recent government data showed. The personal consumption expenditures index, which is used by the Federal Reserve, surged 3.4% in the 12-month period ending May, the biggest leap since 1992.

American consumers’ fear of inflation has also hit new highs as gasoline, food, health care and home prices have ticked up in recent months.

“I’m not saying hyperinflation is around the corner, just that a lot of things have come together in the last year, and the overall trend of costs across the board is growing faster than in the last five or 10 years,” American Chemistry Council chief economist Kevin Swift said, according to the WSJ.

“Inflation is expected to surge longer and longer — longer than the Fed previously thought,” Grant Thornton chief economist Diane Swonk told the WSJ. “The Fed is now likely to raise rates in the first half of 2023, although some Fed presidents will be nipping at the bit to move sooner.”

Several economists have sounded the alarm on large, trillion-dollar spending packages backed by President Joe Biden, arguing they will drive inflation further. Former Treasury Secretary Larry Summers and Peter Schiff, the chief economist and global strategist at Euro Pacific Capital, said the government is the cause of increased prices.

“The 100% cause of inflation is the government,” Schiff previously told the DCNF. “It’s when the government spends money that it doesn’t collect in taxes and then the Federal Reserve monetizes the resulting deficits by printing money.”

Decades of China First leadership with both sides happily spending excessively without concern for the long term debt consequences has ensured this. Multi-millionaire politicians spending trillions of future generations resources in the present.

Well, at least you have an inordinate number of illegal citizens who apparently fled their fown ailed socialism so they can help you adapt to your new economy....
 

Flash

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Democrats always screw up everything.

We had FDR prolong the Great Depression for seven years with failed Leftest economic policies.

We had Jimmy Carter's "malaise", inflation and terrible growth.

We had The Worthless Negro's increased poverty, decreased family income, tremendous debt with nothing to show for it and dismal economic growth.

Slick Willy would have screwed up everything if Newt hadn't kept him in check.

Joe Dufus is heading on a path to screw up Trump's great economy that we had before the Chicom pandemic. A pandemic caused by the same Chicoms that made the Joe Dufus family filthy rich.

Anybody that voted for Joe Dufus and then ignored the fact he stole the election is a friggin moron.
 

Flash

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The sad thing is when the Democrats screw everything up, like they always do, they will blame their failure on somebody else, like they always do.

The Worthless Negro was notorious about blaming his failure on Bush and taking credit for Trump's successes, wasn't he?

Joe Dufus will do the same thing.

I can just hear it now; "Socialism would have worked if those meannie Republicans hadn't fought us on it".
 

TroglocratsRdumb

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We know that the Democrat Socialists hate the middle class even more than they hate the rich.
Inflation will destroy the middle class savings and retirement accounts.
 

Mac-7

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Nothing new here which the Trumpsters had no problem when Trump was spending like aa drunken sailor...

There is very little quotes of Lachman himself and no quote of 'Latin America'... This is an OAN article which can be taken with a gain of salt...

There was nothing wrong when Trump did it... Same old story, becoming fisical conservatives as soon as your kicked out of the WH..
Do you think its possible for America to go to far into debt?
 

ESDRAELON

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There was nothing wrong when Trump did it..
Sure there was. But this isn't about totally laying blame at the potato's feet. This is just a warning of the incoming crash. Ignore it at your own peril.
 

Snouter

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This is the obvious objective of the zionists running the government and establishment media in the USA.
 

Turtlesoup

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Nothing new here which the Trumpsters had no problem when Trump was spending like aa drunken sailor...

There is very little quotes of Lachman himself and no quote of 'Latin America'... This is an OAN article which can be taken with a gain of salt...

There was nothing wrong when Trump did it... Same old story, becoming fisical conservatives as soon as your kicked out of the WH..
Trump was never spending like a drunk sailor..
 

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