{"id":68399,"date":"2024-05-28T07:30:38","date_gmt":"2024-05-28T12:30:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68399"},"modified":"2024-05-28T07:30:38","modified_gmt":"2024-05-28T12:30:38","slug":"ceo-of-russias-second-largest-bank-warns-us-is-inevitably-headed-for-a-serious-economic-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68399","title":{"rendered":"CEO Of Russia&#8217;s Second-Largest Bank Warns: &#8220;US Is Inevitably Headed For A Serious Economic Crisis&#8221;"},"content":{"rendered":"<header class=\"ArticleFull_header__z0vIZ\">\n<h3 class=\"ArticleFull_title__FDrpw\"><a href=\"https:\/\/www.zerohedge.com\/geopolitical\/ceo-russias-second-largest-bank-warns-us-inevitably-headed-serious-economic-crisis\">CEO Of Russia&#8217;s Second-Largest Bank Warns: &#8220;US Is Inevitably Headed For A Serious Economic Crisis&#8221;<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__2jyAd\">\n<div class=\"NodeContent_body__HBEFs NodeBody_container__eeFKv\">\n<p>Last September, we told readers that the US national debt was skyrocketing at a staggering $1 trillion every three months\u2014roughly every 100 days.<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"X Post\" 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frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1703869432018133320\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>Since then, the debt spending has gotten worse.<\/p>\n<div class=\"AdvertisingSlot_desktop__eL99N AdvertisingSlot_tablet__3SxtX AdvertisingSlot_placement__udF_V AdvertisingSlot_inContentParent__PbvHE\"><\/div>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-1\" class=\"\" title=\"X Post\" 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frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1793605902479884764\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>Out-of-control spending has delayed the US economy&#8217;s\u00a0day of\u00a0reckoning in this year&#8217;s presidential election cycle. But it has become very evident an economic crisis looms in the years ahead.<\/p>\n<p>One River Asset Management CIO, Eric Peters, recently said,\u00a0&#8220;I\u00a0have a growing conviction\u00a0that in the coming\u00a0<a href=\"https:\/\/www.zerohedge.com\/markets\/next-few-years-were-going-face-us-debt-sustainability-crisis-sparking-major-global-market\">2-5 years<\/a>, we&#8217;re going to face a US debt sustainability crisis, sparking a major global market event.&#8221;<\/p>\n<p>BofA CIO Michael Hartnett recently noted what we said previously about the\u00a0<a href=\"https:\/\/www.zerohedge.com\/markets\/hartnett-1-trillion-every-100-days\">unsustainable debt explosion<\/a>&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/flow%20show%201%20trillion%20every%20100%20days.jpg?itok=8_ru6q4z\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/flow%20show%201%20trillion%20every%20100%20days.jpg?itok=8_ru6q4z\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/flow%20show%201%20trillion%20every%20100%20days.jpg?itok=8_ru6q4z\" alt=\"\" width=\"500\" height=\"185\" data-entity-type=\"file\" data-entity-uuid=\"ef31b7e0-1b5b-4463-94a6-cb28826cbc38\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>And now, fresh comments from Andrey Kostin, CEO of Russia&#8217;s second-largest bank, have emerged\u2014comments that Western mainstream media dare not share with their audiences. Why is that?\u00a0&#8230;\u00a0Well, the Washington\u00a0censorship blob wouldn&#8217;t allow it.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/2024-05-27_09-02-16.png?itok=xYEcxty-\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/2024-05-27_09-02-16.png?itok=xYEcxty-\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/inline-images\/2024-05-27_09-02-16.png?itok=xYEcxty-\" alt=\"\" width=\"500\" height=\"353\" data-entity-type=\"file\" data-entity-uuid=\"1088992e-4c06-4f53-a390-0561ece38a76\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>Russian state-owned news agency\u00a0<a href=\"https:\/\/tass.com\/economy\/1793843\">TASS<\/a>\u00a0cited\u00a0Kostin&#8217;s interview with\u00a0the Fontanka publication, who warned if it wasn&#8217;t for the dollar&#8217;s status as the world&#8217;s reserve currency, a sovereign debt crisis would&#8217;ve already been underway in the US. No matter what, he warned the US economy is on the verge of an economic crisis.<\/p>\n<blockquote><p><em>&#8220;I am\u00a0thoroughly\u00a0convinced that America\u00a0is inevitably headed\u00a0for a serious economic crisis. The amount of debt currently held by the US today has reached inconceivable, astronomical levels. And the dollar&#8217;s monopoly on the global stage is the only thing enabling\u00a0the Americans\u00a0to maintain such a level of debt. If the Chinese or the Arabs took their money out of the US, a complete collapse would ensue for the financial sector and the government,&#8221; he said.\u00a0<\/em><\/p><\/blockquote>\n<p>Kostin added:<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CEO Of Russia&#8217;s Second-Largest Bank Warns: &#8220;US Is Inevitably Headed For A Serious Economic Crisis&#8221; Last September, we told readers that the US national debt was skyrocketing at a staggering $1 trillion every three months\u2014roughly every 100 days. Since then, the debt spending has gotten worse. Out-of-control spending has delayed the US economy&#8217;s\u00a0day of\u00a0reckoning in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[34647,195,379,496,694,1615,827,4318],"class_list":["post-68399","post","type-post","status-publish","format-standard","hentry","category-economics","tag-andrey-kostin","tag-debt","tag-government","tag-mainstream-media","tag-russia","tag-spending","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68399"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68399\/revisions"}],"predecessor-version":[{"id":68400,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68399\/revisions\/68400"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}