The US economy according to the markets is doing very well, or so we are told (that is debatable statement) but across the globe some countries are doing as well as the US and are now facing economic extinction.

You may not care but some on the list will suck on the teat of the American taxpayer….maybe you should care more about that than some celeb dropping a new album.

This is the list of those countries that face economic woes….

Within the intricate fabric of the global economy, many nations are currently contending with significant challenges within their economic systems. Between wars, natural disasters, resource depletion, or political mismanagement, these countries are nearing economic failure.

Without any specific ranking, these ten nations are enduring a challenging journey in pursuing long-term economic expansion and well-being.

1. Russia

Russia’s economy has underperformed for 15 years due to weak institutions, including a frail rule of law, inadequate protection of property rights, and widespread corruption. The country has faced extensive sanctions from the West since the Ukraine conflict, resulting in restricted access to foreign reserves, banking networks, technology, and energy markets.

Consequently, Russia has suffered from high inflation, deep recession, shortages, and rising prices. With dwindling reserves and increasing isolation, the economy is ill-prepared to handle a closed status. As per the World Economic Outlook April report, Russia holds the lowest position in the global average GDP ranking, experiencing an average decline of -8.5% from 2018 to 2022.

(War can do that to your economy)

2. Ukraine

The conflict with Russia has severely impacted Ukraine’s economy. The World Bank predicts a contraction of up to 45% in 2022. Critical export routes and trade have been disrupted, leading to a grain and staple exports ban for food security. Ukraine seeks financial assistance to offset the impact of closed debt markets.

Reconstruction costs are estimated at $349 billion, with soaring poverty rates and a projected budget deficit of $38 billion in 2023 due to reduced tax revenues. Ukraine’s global average 5-year GDP ranking has declined by -35%.

(Oh good…more cash will be spent to prop up this nation….more taxpayer dollars wasted as usual)

https://wealthynickel.com/10-countries-teetering-on-the-brink-of-financial-collapse-0524/

What price tag will all this economic woe have on the US budget?

Where is the ‘reed line’ of US spending on the stupidity of other countries?

Where does this end?

Any thoughts?

I Read, I Write, You Know

“lego ergo scribo”