Global economist Steve Hanke recently warned that the US economy is about to enter a recession.
A prominent professor at Johns Hopkins University, USA, said in a tweet, "The Federal Reserve is moving recklessly, and does not pay attention to the money supply (M2), and it has led to its contraction at an unprecedented rate, as it has decreased by 2.9% since March 2022," stressing that the economy America is on the brink of recession.
"The Fed's Vice Chairman of the Board of Governors, Michael Barr, practiced the blame-and-blame tactic during his Senate session," Hanke added. And the economist continued, “According to the Congressional Budget Office, by 2033 the public debt of the US federal government is expected to reach a very high level of 118.2% of GDP. This volume of debt will burden future taxpayers.” Hanke shared a tweet by the American economist Jeffrey Sachs, in which he said, "The largest member of economic development is the war, and the biggest loser at the economic level during 2022 is Ukraine," adding: "Unless this American proxy war ends soon, Ukraine will follow in the footsteps of both Iraq and Iraq." Syria and Libya to be the new great American success story.
Okaz (Washington) @okaz_online