Dear Turkey, Argentina, etc…
Printing Currency Backed By Nothing Is Not "Creating Reserves".
Printing Currency To Pay Bloated Public Spending Destroys Currency Purchasing Power, Savers and Existing Deposits. Kills Confidence In The Currency As A Reserve of Value pic.twitter.com/t7ldFlXRpv
— Daniel Lacalle (@dlacalle_IA) August 2, 2018
Argentina 🇦🇷
“Printing money for the people”
“Inclusive monetary policy”
Average 30% inflation, printing pesos to finance bloated government spending: the recipe for stagnation.Via @luissecco pic.twitter.com/3rB9RmWSHS
— Daniel Lacalle (@dlacalle_IA) August 2, 2018
Venezuela.
Maduro admits his failure. Demands solutions. Easy:
1. Resign
2. End the Chavista dictatorship
3. Keep the Podemos advisers' recommendations and do the opposite.Success guaranteed. https://t.co/x3YgPKjau6
— Daniel Lacalle (@dlacalle_IA) August 2, 2018
“China says fully prepared for U..S. threat on trade” (Bloomberg) 🤔
It is easy: China can lift all tariffs, subsidies and trade barriers.https://t.co/YgaSIC8jbe pic.twitter.com/be5kEkFUJK
— Daniel Lacalle (@dlacalle_IA) August 2, 2018