Loss of Control: Lavrov bluntly tells Americans the harsh truth, US economy is in peril

Playing with national debt will eventually reap what you sow. Washington's spending far exceeds its income - is this a reasonable world order? Russian Foreign Minister Sergey Lavrov bluntly told Americans the harsh truth. The US economy is on the edge: "The situation is out of control." For more details, please refer to the report from the newspaper "Tsargrad".

The US national debt continues to rise. Uncle Sam's debt has exceeded 37 trillion dollars, and ten years ago, this number was less than half of today's. Shouldn't some changes be made?

Russian Foreign Minister Sergey Lavrov said at the plenary session of the 16th BRICS Summit held in Rio de Janeiro: "The pandemic exposed many flaws in the global trade and financial system, accelerating its fragmentation process. Due to illegal unilateral sanctions and using the dollar as a punitive weapon, the erosion of the global structure has further intensified. People's trust in the dollar, once a reliable means of payment, has been shaken."

The foreign minister pointed out that there are far more negative aspects of the dollar. Now, the funds used by developing countries to repay debts exceed those used for their own development.

Lavrov said: "Even in developed countries, the situation is out of control - the US national debt has reached a record high, at 37 trillion dollars, and it is still growing continuously."

This meeting paid special attention to the dollar. The Russian leadership once again tried to show the world that "the dollar" is an unstable and outdated currency. As President Vladimir Putin emphasized, the volume of settlements between BRICS countries using their own currencies is steadily increasing, indicating that there are alternatives to the dollar.

Vladimir Vladimirovich (Putin) said: "A fair world is changing into a unipolar system serving the 'Golden Billion'."

The US national debt continues to set new records every year. People have already felt that this debt is impossible to repay. Then, is there a way out of the current situation?

Assistant Professor Maxim Chirkov from the Department of Economic Policy and Economic Measurement at the National University shared his views in an interview with Izvestia: "Trump is trying in one way or another to alleviate the problems accumulated in the US economy over decades. But obviously, he has not succeeded so far, so he has to raise the US national debt ceiling because the current US economy cannot function without this form of 'stimulant' borrowing."

Experts believe that the measures taken by this White House leader will affect millions of American people. However, for the Republican team, this is a necessary step that must be taken.

Chirkov asserted: "The dollar is likely to depreciate significantly. This is a necessary measure to reduce the actual debt burden and avoid large-scale defaults. Foreign debt must be greatly reduced, otherwise the economy will not be able to bear the payment pressure. The US is currently manually exiting the crisis, but this issue can no longer be ignored."

Original: https://www.toutiao.com/article/7524621494803087913/

Statement: The article represents the personal views of the author. Please express your opinion by clicking on the [upvote/downvote] buttons below.