Hong Joon-pyo "National debt soon 1,000 trillion... will become South America having a debt party"
[Asia Economy Reporter Lee Ji-eun] Former Liberty Korea Party leader Hong Joon-pyo warned against expansionary fiscal policy, saying, "Since President Moon Jae-in took office, national debt has surged and is said to be heading toward the 1,000 trillion won era soon."
On the 2nd, Hong posted on Facebook, "We are heading toward the so-called failed South American countries that only had debt parties."
He warned, "Whether it is national finances or personal finances, if managed like one's own property, money cannot be recklessly spent," adding, "If the national debt reaches 1,000 trillion won, the interest could amount to hundreds of trillions annually."
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Hong also pointed out, "Amid this, they are focusing on attacking Samsung and doctors, and are insisting that the real estate market, where the price of one pyeong of an apartment has skyrocketed to 100 million won, is gradually stabilizing," calling it "a morning that reminds me of China's Houhei (厚黑) philosophy, meaning 'thick face, black heart' (面厚心黑)."
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