thehairyarsedtrucker:
For all you blue and yellow fans, no not Ukraine.
Take a look at this, its by an american so no axe to grind. The reply to the question that Legarde gives is priceless !!
youtube.com/watch?v=Worf7-TR29w
Thank God we’re not on the hook for this.
He is American, but he is selling his own “brand”, so suggesting he has “no axe to grind” is mistaken.
First few minutes he shows the “EU inflation rate” as 8.6% and says how awful that is.
The USA currently has 9.1% inflation.
The UK currently has 9.6% inflation…
Christine Lagarde`s reply to the question as posed?
If the EU has the high inflation suggested, and the low interest rates suggested, EU debt is shrinking every single day!
And I`ll take up her suggestion of the counter-factual alternative:
Q: where would the EU be without the debt bubble caused by Covid19?
A: A lot worse off.
The EU has a large debt because of C19, so has the UK, so has the USA.
What master plan do these economies have that Lagarde is missing out on?
Next he talks of the EU debt to GDP ratio.
Currently (post C19) some countries have a very high ratio. Above the EU target of 60% max.
The USA was running GDP/debt ratios in the mid 90% before C19 !
The UK had 85% in 2015.
Again he is cherry-picking a few figures to support his contention, whilst ignoring other examples that don`t support the point he is trying to make.
So, at the halfway point…I can`t be arsed to continue watching: conclusions are based on false or partial premises.
If he does a big reveal later and says "Only kidding! Ive been talking ■■■■■■■■" I
ll try again. Failing that, I`m out.