Congo Hit With MASSIVE Inflation As Oil Dependent Economy CRASHES! – Government QUITS!
Josh Sigurdson talks with author and economic analyst John Sneisen about the inflation plagued Democratic Republic of Congo.
While the Congolese government quits and IMF talks begin, the idea of fixing the economy without printing money is coming up as a possibility, but it’s too little, too late. The IMF will simply force the people of Congo further into debt and poverty.
Governments and central banks always turn to higher globalist powers to save themselves from the horrors of central planning and taking tips from globalist powers. It seems repetitive because it is and as the Hegelian Dialectic goes, it’s problem, reaction, solution repeat and this will continue on to eternity as long as people don’t understand the root problems.
Congo has the 3rd highest inflation rate in the world with an official inflation rate pegged at 54.31%. Their budget deficit is -6.20%. Their debt to GDP is 83%.
The country is almost entirely dependent on oil which is historically disastrous long term. Currency is printed out of thin air (fiat), creating debt by inception and abundant inflation. This is why this is such a self inflicted wound and why the people of Congo need to stand up against this insanity which unfortunately, most of the world is familiar with. Basically every country in the world is faced with an out of control fiat system. Or perhaps that should be corrected… The problem is that it IS controlled!
We’ve seen fellow neighbor countries to Congo deal with a similar situation before considering Zimbabwe’s hyperinflation which lead to poor billionaires and trillionaires as the central planners continues to just add zeros to the end of numbers. This situation is currently headed in the same direction.
A populace in debt is a populace in servitude and that’s exactly where the state wants them. Moreover, that’s exactly where the government wants them. The chaos that ensues ensures even more divide and more servitude among the people.
The people of Congo are very independent people. They are strong and face disaster regularly which is why they can stand to be very strong in the long term if they stand up against this system and push for a voluntary society based in free markets and the non-aggression principle. But of course most people are more willing to fall into communism instead due to low information on that which affects everyone. Money.
We wish the very best to those living in the Democratic Republic of Congo!