Thread by @baba_nyenyedzi

Eddie Cross let the cat out of the bag by boosting that government debt through inflation has been reduced to $2bn.

He touts this as a good thing.

Thomas Sowell, warns us of people like Eddie Cross. The intellectuals whose bad ideas have no consequence to themselves/1

It is what Nassim Taleb calls IYI. Influential people with no skin in the game and whose disastrous ideas are borne by powerless many.

Eddie Cross, an Economist to forget the broken window theory of econ 101 is embarrassing. Let’s remind him.
Bastiat argues.... /2

It’s stupid to think an economy can recover through employment of glaziers fixing broken windows resulting from a spat of robberies.

Similarly Eddie forgets the depositors who gave GOZ $11bn(approx) real money which has been reduced to $2bnUSD. What’s their compensation/3

What of the civil servant to whom the bane of GOZ profligacy is hardest. From $500 to earning $50USD it is them that fund GOZ expenditure.

For Eddie this wraith of inflation is GOZ advantage. From whence the good times in 2020 will abide.

This is a fallacy & wrong economics/4

Bastiat is clear. Look at that which we don’t see.

Eddie does not see
1: GDP contraction by more than 40%
2: Tax revenues of $1bn from $4bnUSD
3: GOZ overexpenditure. Instead of $6bn now spending $30bn

What are the consequences to Eddie for making people eat dirty for miracles?

Finally, words from Lee Kuan Yew on Suharto’s downfall for failing to reform

What does it say of Eddie Cross, who sits on the RBZ MPC that arbitrarily reduced interest rates from 70% to 35%- goes on to say GOZ is making hay out of inflation and 2020 good times and yet the same GOZ is floating TB’s continuing the inflation heist?