IMF Economist Warns Soaring US Debt Could Trigger Fiscal Crisis and Dollar Decline

Former IMF economist Olivier Blanchard warns the US faces a fiscal crisis due to soaring debt and deficits
The spiraling US debt is concerning for BRICS and developing nations who hold US dollars in reserves
A US financial decline could benefit BRICS by pushing local currencies over the US dollar for trade
Blanchard said the US needs to control debt before things get "messy and out of hand"
If the US debt goes out of control, only the US will suffer while BRICS and others will move on, strengthening their economies