Viktor Shvets
speaker
213 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Viktor Shvets’s voice in public audio — every appearance, attributed to the second.
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Appearances
Because one of the things I discussed in a book in nineteen uh fifties and sixties, there was no inflation.
Uh in fact, inflation didn't pick up until sixty-eight, sixty-nine, and then much more into the nineteen seventies.
At the time, military spending globally were about five, six percent of GDP.
Some countries were up to seven percent.
Today, global military spending already up to about two point two, two point three percent.
So, in other words, we're spending more on defense than RD, for example, on a global basis already.
In the US, we're up to about 3.5, 3.6% of GDP.
If all we're going to do is go up to maybe five, and Europeans may go up to about three, there will be no inflationary impact at all.
But if you have a much hotter conflict, that's where military society.
Spending goes up to 15, 20, 30, 40% of GDP.
So for example, in the World War I, US was spending 15% of GDP.
In World War II, at the peak in 1944, US was spending 40% of GDP on defense.
Oh.
If you think of countries like Britain or or Japan, they were spending up to 80% of GDP on defense.
So when you get to that level, normal economy just
collapse.
It's a just war economy.
That's all you're dealing with.
So long as we're staying around the area of the Cold War of nineteen fifties, nineteen sixties, that is, we're spending maybe five percent of GDP on defense, uh I do not believe there will be any significant inflationary impact.
me feel better.
Showing 141–160 of 213 · page 8 of 11
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