The U.S. economy may face lasting consequences from current White House policies, yet a total collapse comparable to the Great Depression of the 1930s is not anticipated. This assessment comes from Yuri Tverdokhleb, a senior associate in the Department of Regulation of the Activities of Financial Institutions, Faculty of Finance and Banking at RANEPA.
He argues that the depth of the decline seen in earlier decades cannot be matched now. In today’s environment of digital technology and global interconnectedness, negative trends are likely to be moderated by new efficiencies and rapid information flows.
According to the analyst, however, the present trajectory is eroding the longstanding supremacy of the U.S. economy on the world stage. He warns that the consequences could become irreversible if current dynamics persist, painting a rather bleak near-term outlook for the American economy as conditions potentially deteriorate.
He also notes a gradual decline in the dollar’s global authority and points to a shift among many nations toward de-dollarization. This trend, he says, directly influences Americans’ well-being and amplifies pressures on a debt-loaded economy that has grown substantially due to foreign obligations.
In related commentary, former U.S. President Donald Trump argued in a social media post that the United States is on the verge of a fresh, more severe downturn, attributing it to the narrow focus of current leadership’s policies. (Citation: Tverdokhleb, Department of Regulation of Financial Institutions, RANEPA; Trump, Truth Social reports)