US agency: without widespread borrowing to collapse the US economy

Economy

8.40pm on 31.08.2019(Updated the 20:49 at 31.08.2019) Copy link

WASHINGTON (Reuters) – The health and well-being of the US economy, measured by gross domestic product per capita, will fall into negative territory as they stop borrowing, Bloomberg reported.

"The United States will fall last in a ranking of 114 economies in terms of GDP per capita, and Italy, Greece and Japan will be the worst countries in this regard, which will represent a" seismic change " compared to the fifth place occupied by America Currently, the list is based on traditional criteria, according to the site "Economic".

Bloomberg achieved this lamentable result by taking as a starting point the IMF's GDP projections for the 2020 economies. The agency then revised the figures and deprived them of any borrowing, while adding the reserves of the IMF. each country to make it another standard of wealth.

The agency found that per capita income in the United States, currently at $ 66,900, will only drop to $ 4,857, representing a loss of $ 72,000 for each man, woman and child.

The United States will continue to borrow. The IMF expects US debt to reach 109 percent of the country's GDP over the next five years. The US monetary reserve, which averaged $ 425 billion between 2014 and 2018, will also account for less than 2% of GDP, which is expected to reach $ 22 billion and $ 200 billion in 2020.

Bloomberg reports international financial information, founded by Michael Bloomberg, a US businessman and American journalist, Matthew Winkler.