BRICS Expert Warns: Is the US Economy Already in Recession?

Amid the BRICS alliance de-dollarization efforts, one finance expert has recently proclaimed that the US is currently “in recession,” as the country’s debt issues persist. The rising US debt is fueling concerns, and economists are starting to question the narrative of a strong American economy.

Mounting Debt and Recession Fears

The U.S. Federal White House economists are warning of “severe damage” to the U.S. economy in the event of a debt default. And in a new report, they detail potential job losses, highlighting the real-world consequences of the growing debt burden. Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession.

De-Dollarization: A Threat to US Economic Power?

De-dollarization poses challenges for the US, including potential devaluation of the dollar, higher borrowing costs, and a diminished ability to impose economic sanctions. The BRICS nations are actively exploring alternatives to the US dollar for international trade, adding pressure on the dollar's global standing.

Dollar Dominance: Still Intact, But For How Long?

The U.S. dollar remains the world's primary reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global reliance on the dollar. However, two economists argue that dollar dominance is here to stay – and the most dire threat to its status as the world's top reserve currency is actually the US economy itself. The mounting debt and potential recession are arguably larger threats to the dollar's future than any external force.

What Does This Mean for the Future?

The pronouncements from a BRICS expert, combined with warnings from US economists and analysts, paint a concerning picture. Is the US economy truly in recession? Or is it simply facing a period of significant economic headwinds? Only time will tell, but the situation warrants careful monitoring.