![](https://i.imgur.com/CLvY2jA.png")
14-10-2021, 12:58 AM
https://www.rt.com/russia/537141-us-debt...sanctions/
America’s debt crisis could well shake the world. Cut off by sanctions & suspicion, Russia should ironically find itself insulated
![[Image: 615f0c84203027217172c0f4.jpg]](https://cdni.rt.com/files/2021.10/xxl/615f0c84203027217172c0f4.jpg)
.... The coming crisis will likely be a crisis of the dollar. At some point, the US will be forced to restore a fiscal discipline that was lost long ago. That entails increasing production and reducing spending – the exact opposite of current policies. This painful readjustment will reduce the standard of living of Americans and diminish the role of the US in the international system. It appears that the option of making voluntary and somewhat orderly adjustments has expired, and market forces will compel the US to make corrections in a disorderly fashion.
.... Preparations for the financial crisis also entail preparations for political consequences. As financial crises erode socio-economic and political stability, the US government will likely point to external forces to restore solidarity and loyalty to authorities. Simply put, Washington will likely point to Russia and China as the culprits of the financial and economic crisis, which can have unforeseen consequences. The US has to a large extent had a “healthy nationalism” in terms of believing that its best days were ahead of it. In contrast, the more dangerous nationalism looks towards past glories that were robbed by foreign powers. Trump is likely only the first president to argue that US greatness has been stolen by China, while Russia will be blamed for rising energy costs.
America’s debt crisis could well shake the world. Cut off by sanctions & suspicion, Russia should ironically find itself insulated
.... The coming crisis will likely be a crisis of the dollar. At some point, the US will be forced to restore a fiscal discipline that was lost long ago. That entails increasing production and reducing spending – the exact opposite of current policies. This painful readjustment will reduce the standard of living of Americans and diminish the role of the US in the international system. It appears that the option of making voluntary and somewhat orderly adjustments has expired, and market forces will compel the US to make corrections in a disorderly fashion.
.... Preparations for the financial crisis also entail preparations for political consequences. As financial crises erode socio-economic and political stability, the US government will likely point to external forces to restore solidarity and loyalty to authorities. Simply put, Washington will likely point to Russia and China as the culprits of the financial and economic crisis, which can have unforeseen consequences. The US has to a large extent had a “healthy nationalism” in terms of believing that its best days were ahead of it. In contrast, the more dangerous nationalism looks towards past glories that were robbed by foreign powers. Trump is likely only the first president to argue that US greatness has been stolen by China, while Russia will be blamed for rising energy costs.
