August 18, 2023 should perhaps be marked. Mark Zandi from the rating agency Moody’s called it the deadline. Then at the latest he expects a US default and a financial crisis, as the analyst explained to a committee in the US Senate, according to the New York Times.
The only way to avert the chaos on the financial markets would be if the USA soon raises the debt ceiling. If this is not the case, there is a risk of default, economic collapse and the loss of seven million jobs, and with it a severe recession.
Currently, the debt ceiling set by Congress is $31.4 trillion. However, the debt mountain has now reached a height of 31,459,627,607,365 US dollars. This means that the United States is already living on its reserves and cannot incur any new debt.
According to Blick, the US Congress has already forecast a default between July and September. Zandi’s expectation for the collapse also fits into this period of time. That could trigger a tsunami that would also reach Europe. According to analysts, a financial crisis like that in 2008, triggered by the Lehman bankruptcy, is imminent.
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