Marc Faber Clip: Inflation, Debt, and Immigration

요약 보기

재정적자와 과도한 정부지출이 인플레이션을 유발하고 정부 확장은 경제성장을 둔화시킨다고 주장. 유권자들이 증세·긴축보다 인기 있는 재정확대를 선호해 인플레 압력이 커진다고 봄. 유럽의 녹색당·좌파 정책과 이민 정책(난민 복지 비용)을 비판. 유럽 경제는 부진하지만 주식시장은 상대적으로 양호했다고 언급.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. you basically have inflation um because of monetary policies that are lose but equally important are fiscal policies by the government in other words when when the government spends too much money and doesn't collect enough in taxes and in uh fees and so forth uh you have a fiscal deficit a budget deficit and the budget deficit is essentially excessive spending by the government but instead of increasing taxation or cutting spending the government then goes and borrows money as a result of that the government debt goes up and in time I mean not immediately but in time the increased uh interest payments on the debts by the government regards economic growth will what also retards economic growth is the expansion of the government the government is unproductive the productive sector is the private sector the personal the individual in initiative and not the government and so you have essentially a Slowdown in economic growth and a pick up in inflation and this is happening at the present time and I'm afraid that uh the pickup in inflation and in the fiscal deficits is actually brought about especially in democracies because in democracies all the measures that leads to inflation Nam the people say the government should do this the government should help here the government should subsidize here the government should enact tax cuts and so forth and so all the measures that leads to inflation are actually very popular politically seen you understand and what is unpopular namely tightening the belt increasing Taxation and so forth that the public doesn't want so in a democracy U people Essen punish themselves they don't realize it they punish themselves the majority in Europe we have a in addition to all this we have incompetent politicians that are from the green party and very leftwing politicians that are not interested in economic grows but are driven by policies of envy and essentially destroying accumulated wealth by the wealthy people this is one of the uh tenants of the Marxist socialist ideology you bring down Wells you take Wells away from the rich because these are perceived as pigs and you try to redistribute it usually not to the people but to the politicians that is essentially the Socialist ideology and then we have in Europe even more so than in the US this a absurd immigration policy where entire regions in Germany France Italy and of course they're controlled by immigrants mostly refugees and they are you know the there are many books that have been written about immigration say in the 19th century why did people move to America the American population was 4 million in 1800 and 80 million in 1900 why did did people move to America because social conditions were far better in America than in Europe so they moved there and they were prepared to work and hustle and uh essentially build a future sure but today's refugees so I'm not saying everyone but most of them they come because of Social Security contributions that they can get and the advantages that they can get and uh they in most cases in Europe I haven't calculated it in the US but in Europe the refugees cost a lot of money for for the government and so in the in the first few years and I suppose also in the Years thereafter yeah but we have to distinguish is like I mentioned in the introduction the economies in Europe are not doing well but the stock markets have actually done rather well