According to the news of Wall Street, the former Republican member of the three presidential candidates Ronmiddot; Ron Paul, a former Republican member of the three presidential candidates, recently said that Turkey's today is actually the United States tomorrow: AND "Recently in Turkey's low interest rate, Currency issuance and large -scale government expenditure for Andrsquo; stimulating andrsquo; economically, are exactly the same as the US government's policy in the past 10 years. Therefore, if the US fiscal and monetary policy will not change, the United States is about to usher in the economic crisis. ANDRDQUO
The United States has something to do with Turkey, especially in the near future, because the United States has doubled tariffs on Turkey's steel and aluminum and sanctions on two key ministers in Turkey, which has led to the derogation of Turkish currency lira.EssenceAffected by this, the euro, European stocks and emerging market currencies and stock markets were also affected.Turkey regards it as the economic aggression in the United States, and the relationship between the two NATO allies in the United States ushered in a new change.
How can the US and US dollar's powerful foreign -driven capabilities repeat the mistakes of Turkey!Ronmiddot; Paul is a bit worried?
Indeed, the United States is now getting rid of the downturn of the crisis, with a long -term long bull market for more than nine years, and the economic growth rate in the second quarter exceeds 4%.Such economic transcripts make President Trump feel proud of and start trade friction globally.His impression to the international community is that the United States can not only Andrdquo;, but also can reach preliminary trade consensus on "and Andrdquo; the United States and Europe.Consensus with Mexico has made Canada have to negotiate with the United States.
The United States and the US dollar go smoothly.Paul's argument is that the United States has huge government debt like Turkey.The key is that the Trump administration not only will not reduce expenses or raise money, but also cuts large -scale tax cuts.In addition, he also believes that American politicians will force the Fed to do some of the "dirty work Andrdquo;. For example, the Fed may implement negative interest rates, which will lead to a decline in the savings ability of Americans, and the monetization of debt will also be.Weaken the purchasing power of the US dollar and cause the income of the middle class and the working class to be inflated and "consumes all Andrdquo;
Paul captured the chaos of the US economy, but did not scratch the so -called itching of "Turkey's Andrdquo; Turkey and the pain of the US economy. It is generally believed that Turkey and" three high Andrdquo; to destroy the Turkish economy.Three Dashan ANDMDASH; Andmdash; high liabilities (accounting for 55%of GDP), high inflation (15%), high unemployment rate (about 10%), but only with "three high Andrdquo;City disturbance. The main problem is that Turkey lacks internal power, especially at high speed growth that does not become a material basis against external risks, such as insufficient foreign exchange reserves.
The situation in the United States is that the United States accounted for 31.8%of the world's $ 63 trillion foreign debt scale (IMF in 2017), which is the highest in the world.Although US foreign debt is high, the scale of the United States is far ahead of other countries around the world, and the United States has led high -tech of the world, thus forming a global industrial chain created by the United States and manufacturing in other countries.In the global market, global production relations under the leadership of the United States have formed, and the United States has mastered the advanced productivity of high -tech. Therefore, high debt has become a source of power to support the economic growth of the United States.
More importantly, Andrdquo, Andrdquo; later formed a US -led global governance system, and the US dollar as a global currency credit system. Under these two systems, regardless of US debt, the global market is full of confidence in the US market.. It is also because of the global credit of the United States that it can pass the crisis through multiple rounds of quantitative looseness (QE), that is, through multiple -printing US dollars.Pass to the world.
The United States Andrdquo; not because of the high debt of the United States, but to see if the United States has the influence of a responsible power and the credibility of the US dollar.It not only shaken the global leadership of the United States, but also caused the international community's distrust of the US dollar.Especially after the United States withdrawn from the Iraqi Agreement, sanctions on countries around the world have spawned the determination of the international community to get rid of the US dollar system.Leave the US dollar, reconstruct the new international trade settlement system, and gradually put on the agenda.
Without the support of US and US dollar credit, the US economy has lost its solid foundation.Either high debt, or other unstable factors, can cause the United States to fall into economic turmoil.Eating the old nation of the superpowers and the abuse of US dollar credit is the real danger of the United States.
Source: Beijing Youth Daily
