Americans are dragging the Russian car market into a repeat of the 2008 crisis
- March 29, 2023
- 0
I’m already tired of constantly looking back at every “sneeze” that comes from across the ocean. But the reality is that the US economy has been in quite
I’m already tired of constantly looking back at every “sneeze” that comes from across the ocean. But the reality is that the US economy has been in quite a storm lately, and this, thanks to the dominance of the dollar system in the world, is causing sensitive “echoes” in our country. Portal “AvtoVzglyad” found another reason to prepare for a big financial “bang” in America.
Only a lazy economist or market analyst has not warned of problems in the US banking system in recent weeks. There, a few medium-sized banks are cracking up because the local financial regulator – the Federal Reserve System (FRS) – raised the discount rate so much that it became unprofitable to keep money in US government bonds.
And investors began to “shift” from these assets to dollars. “Bang” pretty loud: about $300 billion. But the US authorities urgently extinguished the “fire”, which threatened widespread panic and a banking crisis, in fact with money from the budget. The problem seems to be resolved. However, the “echo” of the bankruptcy of the California Silicon Valley Bank and the New York Signature Bank has not disappeared in the world so far.
Analysts say that if such a “rotten” bank suddenly appears again, the situation may become uncontrollable. Depositors and investors will withdraw money en masse from potentially dangerous banks and funds. There will be panic, the financial market will collapse. Which will eventually be followed by the almost inevitable devaluation of the US currency and the rise in dollar prices for everything – including car imports to Russia.
At the moment, almost the entire world is silent, looking at the precarious stability of US finances. Meanwhile, another “bubble” is slowly brewing – somewhat similar to the root cause of the 2008 mortgage crisis in the United States. From which the whole world became seriously ill. This time we are talking about loans to US commercial real estate.
Banks and investment funds rushed to invest in it just after 2008. At the moment “running” here about 4.5 trillion. dollars – about 2.5 of the US state budget for 2023. Recently, nearly 70% of this segment’s debt obligations are accounted for by medium-sized banks – such as the aforementioned bankrupt Silicon Valley Bank and Signature Bank.
Economists around the world agree that a recession in the United States is inevitable and imminent. And it will provoke numerous bankruptcies of construction companies, developers and other organizations working on commercial real estate projects. The peak of repayments of their debts to creditor banks will not occur until the current year and 2024.
So, over a bunch of regional “banks” and investment companies in the United States, the threat of being left with a pile of “dead” debt looms steadily and more and more. Which makes them themselves candidates for bankruptcy. The list of potentially “rotten” organizations may only be known to the US financial authorities.
And when (exactly “when” and not “if”!) they start to “crumble”, the “second year of 2008” begins. And in an even harder version. After all, 15 years ago, the global economy was not first decimated by the madness of the coronavirus, and was not disrupted by the large-scale anti-Russian sanctions of the collective West. It is still difficult to name the exact dates for the beginning of the “hot” phase of the coming economic catastrophe. Moreover, the US financial authorities are trying with all their might to postpone it as much as possible.
But the most radical predictions of some economists speak of the beginning of the events described above in US markets as early as next summer. In this scenario, imported cars and spare parts in Russia should rise sharply in price by autumn 2023 at the latest.
globallookpress.com’s photo
globallookpress.com’s photo
Only a lazy economist or market analyst has not warned of problems in the US banking system in recent weeks. There, a few medium-sized banks broke through the fact that the local financial regulator – the Federal Reserve System (FRS) – raised the discount rate so much that it became unprofitable to keep money in US government bonds.
And investors began to “shift” from these assets to dollars. “Bang” pretty loud: about $300 billion. But the US authorities urgently extinguished the “fire”, which threatened widespread panic and a banking crisis, in fact with money from the budget. The problem seems to be resolved. However, the “echo” of the bankruptcy of the California Silicon Valley Bank and the New York Signature Bank has not disappeared in the world so far.
Analysts say that if such a “rotten” bank suddenly appears again, the situation may become uncontrollable. Depositors and investors will withdraw money en masse from potentially dangerous banks and funds. There will be panic, the financial market will collapse. Which will eventually be followed by the almost inevitable devaluation of the US currency and the rise in dollar prices for everything – including car imports to Russia.
At the moment, almost the entire world is silent and watching the precarious stability of US finances. Meanwhile, another “bubble” is slowly brewing – somewhat similar to the cause of the 2008 mortgage crisis in the United States. From which the whole world became seriously ill. This time we are talking about loans to US commercial real estate.
Banks and investment funds rushed to invest in it just after 2008. At the moment “running” here about 4.5 trillion. dollars – about 2.5 of the US state budget for 2023. Recently, nearly 70% of this segment’s debt obligations are accounted for by medium-sized banks – such as the aforementioned bankrupt Silicon Valley Bank and Signature Bank.
Economists around the world agree that a recession in the United States is inevitable and imminent. And it will provoke numerous bankruptcies of construction companies, developers and other organizations working on commercial real estate projects. The peak of repayments of their debts to creditor banks will not occur until the current year and 2024.
So, over a bunch of regional “banks” and investment companies in the United States, the threat of being left with a pile of “dead” debt looms steadily and more and more. Which makes them themselves candidates for bankruptcy. The list of potentially “rotten” organizations may only be known to the US financial authorities.
And when (exactly “when” and not “if”!) they start to “crumble”, the “second year of 2008” begins. And in an even harder version. After all, 15 years ago, the global economy was not first decimated by the madness of the coronavirus, and was not disrupted by the large-scale anti-Russian sanctions of the collective West. It is still difficult to name the exact dates for the beginning of the “hot” phase of the coming economic catastrophe. Moreover, the US financial authorities are trying with all their might to postpone it as much as possible.
But some economists’ most radical predictions speak of the beginning of the events described above in US markets as early as next summer. In this scenario, imported cars and spare parts in Russia should rise sharply in price by autumn 2023 at the latest.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
