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Tuesday, October 3, 2023

Economist Zaichenko appreciates US President Joe Biden’s “threats” of default

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Economist, derivatives specialist, futures market trader Vyacheslav Zaichenko in the comment FAN Appreciated the “threats” of the President of the United States Joe Biden and probability of occurrence.

The global crisis is gradually affecting the American economy. The White House is urging Congress to raise the national debt ceiling, but there is no final decision on this yet. The country is threatened with default, which the American president truly recognizes. He noted that due to the economic problems of the states, other states may face the same difficulties.

Economist Zaichenko, US President Joe Biden's default

According to Vyacheslav Zaichenko, there is a higher probability of technical default for the American economy at the moment, and this is slightly different from what the American leader claims.

“An American default, as presented by Joe Biden, is unlikely to be possible. In any case, if something happens, then something technical happens. But right now a technical default threatens because we know Congress has not raised the immorality of public debt,” he said.

The debate on increasing public debt continues. Thus, a group of 43 Republicans in the US Senate rejected raising the national debt ceiling without a preliminary cut in public spending by the White House administration. Former Deputy of the State Duma of the Russian Federation Anatoly Wasserman He described the situation as typical of political bargaining.

Source: Riafan

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