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Lacy Hunt: Both Presidential Candidates Will Only Make Our Debt Problem Worse
Thoughtful Money with Adam Taggart
Economic Deterioration: The Paradox of Thrift Unravels
The current economic outlook is bleak, both in the United States and globally, primarily due to misaligned monetary and fiscal policies. The U.S. is experiencing five consecutive quarters of negative national saving, invalidating the Keynesian concept of the paradox of thrift, which posited that increased saving during downturns should prompt government deficits to spur economic activity. Currently, there is not only a lack of saving but also a significant federal dissaving of approximately $2 trillion, contrasting sharply with only about $1.85 billion in private and foreign saving. This negative net national saving, estimated at around $150 billion, disrupts the fundamental economic principle that gross domestic income must equal gross domestic product, leading to an imbalance where physical investment cannot meet the requirements set by net saving.
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