The US economy may suffer irreversible consequences due to the policies of the White House, but it will not sink until the Great Depression of the 1930s. About this “Lente.ru” declaration Yuri Tverdokhleb, Department of Regulation of the Activities of Financial Institutions, Faculty of Finance and Banking, RANEPA Associate Professor.
“I do not think that the depth of the decline can be compared with the years 1920-1930 – then there was a catastrophic situation. “In the modern conditions of digital technologies and globalization, of course, such negative phenomena will be balanced,” said Tverdokhleb.
According to him, the current economic developments are destroying the inviolability of the US economic position in the world. The consequences of this destruction will be irreversible. Overall, prospects for the American economy are rather bleak as the economic situation in the country could deteriorate.
He added that the authority of the dollar in the world is gradually decreasing and the policies of other countries are turning towards de-dollarization. All this seriously affects the well-being of the United States and also hits the economy, which is exploding with enormous foreign debt.
Earlier on Monday, former United States President Donald Trump in a post on Truth Social Wrotethat the United States will soon face a new and greater Great Depression due to the narrow-minded policies of current US President Joe Biden.