The U.S. Treasury Department officially announced that in early June, the country faces a technical default, if the Obama Administration and Congress are unable to agree on raising the public debt limit. Simply put, the country will be unable to service their obligations and did not have enough money to fund all necessary expenses.
As a result - may be closed some state institutions and arrested (or reduced) salaries of state employees, as well as social benefits. The ministry estimated that the maximum allowable amount of debt of $ 14.3 trillion. - will be reached as early as May 16 this year.
In just five quarters (from February 2010) The U.S.has already loaned $ 1.9 trillion. Since 2005, the total amount has almost doubled (from $ 7.6 to $ 14.3 trillion). As a result, every American has a debt before foreign lenders (mostly Chinese) and costs about $ 45,000.
The International Monetary Fund is concerned about the lack of a coherent in U.S. strategy to align costs and revenues.
That, with the increasing debt load (already 94% of GDP) and reducing the rate of economic growth (1, 8% in I quarter. 2011 against 3, 1% in the IV quarter of 2010.), according to experts surveyed by Reuters may lead to the debt crisis, like the Greek. Uncertainty about the future of America has forced the international rating agency Standard & Poor's downgraded credit rating from stable to negative.
According to IMF forecasts, by 2016 the U.S. will lose the status of the world's largest economy, losing the leadership to China. Actually, the experts were talking about it before, but specific dates were mentioned for the first time.
If the default would happen, then inevitably followed the devaluation of the dollar.
In contrast to the Russian ruble, which at the time of default in 1998, "dipped" by 75% (on 1 January 1999 the exchange rate fell three times), the American dollar - the currency of international settlements, and hence the consequences of this phenomenon will affect not only Americans.
Немає коментарів:
Дописати коментар