Post
Topic
Board Economics
Re: A generation spends money, a lifetime pays it back.
by
Rockstarguy
on 28/11/2024, 16:18:34 UTC
The essence of modern economics can be summed up in two words: borrowing money. One generation spends, and the next spends a lifetime paying it back.
Let me give a a typical example. My country's government just borrowed money from the World Bank which is running in billions of dollars.They say the loan is to stabilize the economy blah blah blah but honestly we don't need those loans. The first repayment is in 10 years way after the current administration has left office. Obviously I have no faith in the because they are going to divert it into personal coffers and their will be no penalty for it. We don't need these loans. Even the loans are a trap by the World Bank to keep poor countries poor. The next generation is going to spend their lifetime paying back loans.
Here it is - https://www.google.com/amp/s/punchng.com/tinubu-govt-borrowed-6-45bn-from-wbank-report/%3famp
Loans are not needed to stabilise economy, they only say this just to deceive people, the truth is that the people in charge of government don't even care about the economy because if they care to don't need to go for loan. You can only improve economy by being productive. The more you go for loan the more economy becomes very weak. The present leaders they go for the loan which will be a benefit for them  knowing that if they are not able to pay back the loan, the next set people that will be in charge can pay up the debt.