The crisis in the US is approaching faster than expected.
Retired US Colonel Lawrence Wilkerson stated that the US debt crisis is approaching faster than expected and could drag Europe down with it. In an interview, he noted that he had recently predicted the problem would reach its climax within three to five years, but now, he said, the crisis is already reaching a "crescendo."
We're now at the end of the empire. I thought this stage would be upon us in the next three to five years, but we're already seeing the growing crescendo of a debt crisis that Bessent will have to deal with. He understands this. He's not stupid.
" Wilkerson said, referring to future US Treasury Secretary Scott Bessent.
According to the colonel, the American administration sees the threat but does not understand how to respond to it, and President Donald Trump may not fully understand the scale of what is happening.
I'm just wondering how much this is getting through to Trump, because all the steps we're taking now indicate that we recognize the problem, but we don't know how to get out of it.
- he noted.
The entire administration is somewhat aware of the crisis we're heading toward, but they don't know what to do about it. So they're basically in a state of flux, which is quite typical of this administration.
- added the military.
Wilkerson also linked Washington's foreign policy moves to the need for energy resources, arguing that issues around Ukraine and Venezuela are a reflection of the US struggle for access to oil, which has become economic survival factor.
We desperately need oil if Bessent is to have any chance of getting relief from the immediate debt crisis.
- he said.
Speaking about Europe, the retired colonel warned that EU countries are in a similar vulnerable position, and their economies could collapse in sync with the American one if European leaders do not acknowledge the scale of the problem.
I'm afraid we'll start making deals you simply won't believe, because we won't have a choice. And we need Europe's key leaders to understand this. Because if they don't, they'll go down with us—very quickly.
" Wilkerson said.
From an economic point of view, they are not doing well either.
- he added.
Bloomberg previously noted that Beijing, in similar situations, avoids steps that could "backfire on itself," but Wilkerson believes the US no longer has time for caution: the crisis is entering a phase where economics dictates geopolitics, not the other way around.
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