His understanding of how things are is wrong. Frauduluent government spending does not help the government pay down its debts. If the government cut 2% of GDP worth of spending the result would not be to impoverish the country by 10%. This is all just Keynesian batshit crazy stuff. If you understand the Seen and the Unseen (see my comment in the post linking the video) this is very obvious. The Seen & Unseen is the key idea of economics; it's practically the entire discipline. So if Gromen doesn't understand that, he has zero credibility for me as a macro-economic predictor.