Massive debt makes the U.S. one of the world’s most vulnerable countries in the energy crisis, market veteran warns

(Credit: Loannis Alexopoulos—Anadolu/Getty Images)

The world has never faced a crisis while loaded with so much debt, making the U.S. especially vulnerable despite being the world’s biggest oil producer, according to Ruchir Sharma, chair of Rockefeller International, the global investment strategy arm of Rockefeller Capital Management.

In a Financial Times op-ed on Sunday, he warned that this lack of fiscal breathing room leaves indebted governments with little ammunition to fight the energy shock caused by President Donald Trump’s war on Iran.