September 04, 2023

Bidenomics Potemkin Village

Diane Kimura

The lunacy of Bidenomics:

U.S. deficit explodes even as economy grows.

A strong economy usually reduces the deficit. Not this time.

Deficits increasing.
Interest rates increasing.
Tax receipts decreasing.

Yet the DEBT:GDP ratio is every bit as high as it was at the end of WWII.

Another global war would crater our currency similar to the fate of the Dutch Guilder and the British Pound May be a graphic of text that says 'Deficit surges again after briefly falling Despite falling dramatically in 2022, the annual spending imbalance has jumped back up this year $3.0T $3.1T $2.8T $2.0T 1 $2.0T $1.0T 2018 2020 1 Covid-era spending surge 2 (Projected) 2022 Deficit numbers in trillions. Covers fiscal year. Estimates exclude student debt cancellation. Source: Committee for Responsible Federal Budget JEFF STEIN/ THE WASHINGTON POST'Sterling.

Tim adds:

This illustrates quite plainly our economy is a mirage. We are not prospering, only staying afloat via currency manipulation and fake numbers.
.
It's a Potemkin Village. A great looking mask with no head behind it.

Posted by: Timothy Birdnow at 09:46 AM | No Comments | Add Comment
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