(MENAFN) Renowned Russian billionaire Oleg Deripaska has expressed concerns about the current state of the American economy, citing global overreach as the primary reason. In a recent post on his Telegram channel, the tycoon warned that the country's enormous government debt and exorbitant spending are putting undue pressure on the underlying economy.
Deripaska specifically cited reckless militarization, sanctions against numerous countries, and military adventures around the world as having cost the United States almost USD33 trillion. While he did not provide any specific details regarding the calculation of this figure, he believes that this level of spending has brought the country closer than ever to the brink of bankruptcy.
In his opinion, printing more money will not be an effective solution to the country's financial woes. Instead, he predicts that discussions will quietly take place in Congress to raise the debt ceiling. He also suggests that there will be significant changes in leadership in Washington this spring, paving the way for peace in 2025.
Deripaska's warning about the state of the American economy comes at a time when the country is grappling with the economic fallout of the COVID-19 pandemic. Despite massive government stimulus packages, businesses continue to close, and unemployment rates remain high. Additionally, the country's political climate has been turbulent, with the recent presidential election and the storming of the Capitol building adding to the uncertainty.
While Deripaska's comments have yet to be verified, they do raise important questions about the sustainability of the American economy in the long run. As the country continues to grapple with the challenges posed by the pandemic and geopolitical tensions, policymakers will need to consider a range of strategies to ensure the country's economic stability and prosperity.
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