American economist who predicted the 2008 crisis: Hundreds of American banks are already insolvent

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American economist who predicted the 2008 crisis: Hundreds of American banks are already insolvent

American economist Nouriel Roubini, known for his prediction of the 2008-2009 crisis, said that the situation is developing in such a way that a banking collapse is inevitable. Most US banks today are technically close to breaking the bank, Roubini said.

American economist:

And hundreds of American banks are already insolvent.

According to him, there are several factors that led to this situation. The main factor is the record level of debt of households and enterprises.



Rubini:

The revaluation of such assets as company shares and real estate also played a role. They do not bring the income that could reduce the risks.

According to Roubini, after the Fed's decision to raise the key rate range to 4,75-5 percent, banks in the United States faced a profitability problem:

The difference between the interest received on loans and the interest paid on deposits turned out to be very small. This led many banks to take risks, which made them even more vulnerable.

According to an economic expert, the US banking system is highly concentrated. This can lead to the fact that if it is not possible to “rescue” several large banks in the event of a repetition of the situation with Silicon Valley Bank, then the state will no longer be able to cope with the avalanche fall of the banking sector.

There are those in the US who believe that Roubini is exaggerating. Thus, it is noted that today the US banking system is more stable than in 2008, "due to the involvement of the state." In fact, Roubini's opponents admit that it is the state in the United States that remains the only tool that private banks can count on, since the state has a printing press. But in such a situation, it looks like the US is going to put out an economic fire, if one happens, with "gasoline", printing dollars more and more actively with a decrease in demand for dollars in the global economy.
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    1. +1
      April 1 2023
      No, dear members of the forum, there is no need to hope for the bankruptcy of mattresses, the whole world has been on a dollar needle for too long. requestgive a dollar to any Papuan and you will be in chocolate, and for the yuan given to him, he will twist at the temple, and so on in everything.
      1. +5
        April 1 2023
        It is better to buy gold and silver. They are real. Not candy wrappers and not files.
      2. +2
        April 1 2023
        The bankruptcy of the United States can be temporarily delayed by only one thing - the runaway issue of $.
        But it will cause such hyperinflation in the US that Germany in 1920 will be jealous.
        How much the rope does not appear, but the end will be.
      3. +3
        April 1 2023
        Quote: Alien From
        ah dollar to any Papuan and you will be in chocolate, and for the yuan given to him, he will twist at the temple, and so on in everything.

        But this is for now, because the British pound also did not immediately give way to the dollar.
    2. +2
      April 1 2023
      America will come up with some kind of muck to survive.
      1. +6
        April 1 2023
        they have already come up with and are executing with might and main
      2. -1
        April 1 2023
        There is only one muck to survive and write off the debts of the United States - this is to unleash a new world war.
        1. +2
          April 1 2023
          Cherevato, America is no longer the ideal of freedom and the fulfillment of the dream of anyone who has driven to them. Yes, and resources can be deprived, not to mention the arrivals of rockets with heat and lights to every American state.
    3. +1
      April 1 2023
      That's who to trust our expert that the crisis in the United States has been overcome or the American one that everything is gone. Biden said that urgent measures must be taken, otherwise I will reduce social benefits for pensioners and the disabled by 23%. Whom to trust?
    4. +5
      April 1 2023
      While the fat dries, the thin one dies.

      It is more prudent to proceed from the fact that the enemy is strong and is not going to surrender.
      And then suddenly he was reading Sun Tzu ...
      1. 0
        April 1 2023
        Too complicated, complicated, incomprehensible, well, if only in comics.
    5. -1
      April 1 2023
      banking collapse is inevitable. Most US banks today are technically close to breaking the bank, Roubini said.

      We, the intelligence of the Russian Federation, must help them take a big step forward.
    6. +2
      April 1 2023
      The revaluation of such assets as company shares and real estate also played a role. They do not bring the income that could reduce the risks.
      The difference between the interest received on loans and the interest paid on deposits turned out to be very small. This led many banks to take risks, which made them even more vulnerable.
      When raising the key rate, the Fed could not but be ignorant and misunderstand the short-term effect of the measures taken to stabilize the work of the US banking sector. The temporality was due to the fact that the program of the US Democratic Party with which D. Biden was elected to the post of US President provided for a very aggressive foreign military policy with corresponding spending on the army and the military-industrial complex, especially the military-industrial complex, which had to compensate for their expenses with large domestic orders for their own army and foreign contracts for military products, but no large orders were received, even taking into account the Ukrainian theme and Polish intolerance for peacefulness and humanity. As a result, spending on social policy was reduced with further consequences for the party played out by the Democrats, led by D. Biden, and which cannot but rejoice the representatives of the Republican Party. Thus, it will take a very long time to restore the work of the US political and social system from the dementia activities of the Democrats, and the Republicans understand this very well, they especially understand that it is necessary to restore previously interrupted relations with the Russian Federation and China at all levels.
    7. +3
      April 1 2023
      According to an economic expert, the US banking system is highly concentrated. This can lead to the fact that if it is not possible to “rescue” several large banks in the event of a repetition of the situation with Silicon Valley Bank

      Former BlackRock executive (last year the fund managed $8,5 trillion in assets, making BlackRock the largest investment company in the world) Edward Dowd said the collapse of the American economic system has already begun and now the American elites are faced with the task of conducting "controlled undermining" of 186 American banks, which will not be able to avoid bankruptcy in any way. As a result, only six largest banks will remain in the United States, which can try to launch a new digital currency on the ruins of the American economic system. This currency will replace the US dollar, but the American oligarchs have only two months to do everything.
      But there is another scenario - an uncontrolled collapse of the US financial system, which will put the issue of preserving American statehood as such in a tangible point of view. Needless to say, under the second scenario, the Great Depression will seem like a walk in the park to the stars and stripes "democratizers"?
      Dowd says he doesn't know if the dollar will depreciate or not, but what he does know for sure is that those who control the dollar really want to sit on top of the new world order, no matter the cost. They will not give up just like that and will try to maintain world domination by any means available to them. This has led to world wars in the past and this time is likely to be no different. Daoud sees the alignment of forces in the global confrontation as follows: the USA, Europe and India against the rest of the world (it turns out interestingly, they are trying to get India by all means). 
      1. +1
        April 1 2023
        In any of their scenarios, they are threatened with a social explosion of the population - they were not prepared for savings, and in general, everyone does not care about the population, but there are a lot of weapons and there will be no burgers. And how will the world react to this trick? -Yes, they will stop trading with the states until the debts are paid and no longer with money, but with technologies, of which they do not have so many (well, progress will slow down without 4nm processors, later they will come up with their own or score on their patents and continue to do ), and so on in many respects.
    8. +2
      April 1 2023
      Quote: Alien From
      No, dear members of the forum, there is no need to hope for the bankruptcy of mattresses, the whole world has been on a dollar needle for too long. requestgive a dollar to any Papuan and you will be in chocolate, and for the yuan given to him, he will twist at the temple, and so on in everything.

      If by Papuan you mean Ukrainian, then I agree.
      And if not, then any smart black man from Africa already prefers the yuan. China has long and strongly strengthened its position there.

      And about the dollar needle - let's wait until autumn, when Saudi Arabia officially joins the SCO, transferring crude oil trade to national currencies. This will be the collapse of the petrodollar. The pillar on which the US dollar dictate is still based.
    9. +2
      April 1 2023
      While they all think so, that the Fed can always drain dollar inflation from the US to the world, and there is the IMF as an airbag for the US and only the US. Then they will print and raise the debt threshold forever. In fact, they have an internal zombie economy and does not pay off in excess and simply the consumption of their citizens. One push on external financial flows - the petrodollar, recalculation through the dollar or refusal to contribute to the IMF and gigimosh will fall with a deafening roar and fireworks from a gunshot in the United States. And the world, not the G7, will survive this, contrary to the doshma from the FRS that everyone is a khan. It will simply transfer humanitarian resources to friendly and especially poor countries. Here, Western-style capitalism will be blown away without hope of help, because with its colonialism and other perversions from fat and profit, no one will just help them, only for machine tools, factories, technology and science.
      1. -2
        April 2 2023
        The transition in international settlements to the yuan, ruble, rupee, gold, the creation of a single reserve currency for the BRICS and SCO will make it impossible to drain $ from the United States to the world.
        The accelerated sale of US Treasuries by the world's largest creditors will cause trillions of dollars to return back to the US and then the US population will envy Germany in 1920.
    10. 0
      April 1 2023
      There are those in the US who believe that Roubini is exaggerating. Thus, it is noted that today the US banking system is more stable than in 2008, "due to the involvement of the state." In fact, Roubini's opponents admit that it is the state in the United States that remains the only tool that private banks can count on, since the state has a printing press.
      . And minke whales, their government, cunning guys, they easily forgive themselves ALL DEBTS!!!
      What will happen in the end ... but who knows!!! In the world, for now, it is the dollar, the main currency, and they will do everything that would be so.
    11. +4
      April 1 2023
      I think Roubini is right about the banking sector. They have always liked to invest in US government debt in case of some instability in the market. Since the stock market has been falling since the beginning of 2022, the bankers have swelled a lot of money into these treasuries. And now, after the Fed rate hike, those investments have seriously depreciated. The losses are simply enormous. It is surprising why the bankers did not foresee this before, because the Fed warned about rate increases in advance and raised the rate in small increments.
      1. +2
        April 1 2023
        They foresaw, but there was no choice, they just made the only possible move.
    12. +2
      April 1 2023
      Each country has a unit price for each product. For a kilogram of rice, for a dozen eggs, for an hour of work at a certain plant in a certain position, for a 215/65-17 tire, for a cubic meter of cold water in a certain city, for a blood test... The price fluctuates depending on the region and quality.
      If suddenly there is no dollar, what will happen? Will the crocodile stop being caught and the coconut will not grow? Or will we stop understanding how many coconuts are worth one crocodile?
      Let's stop understanding how many dozens of chicken eggs c0 need to be given for the education of a child in the 3rd grade of a municipal school in Kostroma?
      But each country has its own Mint. And there is the Ministry of Finance.
      Then why, if there is no dollar, then chaos will come in all countries?
      Our country had 300 billion dollars. They were cancelled. Our country has saved another 200 billion dollars for the year. in foreign assets. We now walk to VO on foot with a torch, so that we can illuminate our way in the darkness? Did the buses run out of fuel? Moscow plunged into darkness? Mishustin with a mouthpiece is forced to report the results to the deputies at the Mausoleum?
      What will happen to the citizens of Russia if the dollar suddenly disappears?
      If everyone in Russia needed dollars, then our Central Bank is taking certain actions. What if the dollar disappears? Will we be able to go to work on March 3rd? Fives with magnets will disappear? Will chickens stop laying eggs and children in schools will be left without milk, because the cows will die of sadness over the dollar?
      Or will they not plant potatoes in Estonia this year, and in Lithuania all who work on the land will become Mormons?
      Yes, a convenient monetary unit, not included in the System of Weights and Measures. Yes, convenient ways to move to profitable areas. But where there is water, food, clothing, housing, but no one has seen these postcards and does not know about them, dollars are just beautiful pieces of paper.
      Come up with something that the whole world will believe in, and you will be worshiped.
    13. +1
      April 2 2023
      Amerika nakonec zničí sama sebe a přitom diky válce na Ukrajině chystali past na Rusko! Je vidět, jak málo Rusko know. Sami sobě zničili dolar, když se chytili do pasti uvalením sankcí na Rusko. Jen hlupák si mohl myslet, že to Rusko položí, když tento stát je soběstačný ve všem! USA má v tajných službách hlupáky, podporované tím největším.. Bidenem.
      1. +5
        April 2 2023
        America will eventually destroy itself, and thanks to the war in Ukraine, they set a trap for Russia! You can see how little they know Russia. They ruined their dollar when they fell into the trap of imposing sanctions on Russia. I could only think that Russia would put it down when this state is self-sufficient in everything! The United States has fools in the intelligence services, who are supported by the biggest ... Biden.
    14. 0
      April 3 2023
      Roubini was not the first to prophesy the collapse of the dollar.

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