It is no longer an exaggeration to speak of the world literally falling apart.
In addition to worsening economic conditions here in the US and ongoing economic collapse in China, Great Britain is staring into the abyss of a true economic depression, as real disposable household incomes are forecast to drop by 10% both this year and next.
British households are on course for the deepest living standards squeeze in a century, with real household disposable incomes expected to fall by 10% this year and the next.
The warning comes in a new report by the Resolution Foundation, which said that real earnings are falling at their fastest rate since 1997, meaning that by the middle of next year real pay growth since 2003 will be wiped out.
Chancellor Nadhim Zahawi has told Sky News that nobody should be cut off this winter because they can't pay their energy bills.
In an exclusive interview with Kay Burley, he accused Russia of using energy to divide Western countries, but he insisted the UK must continue to support Ukraine.
The global economy is falling apart, and no one will be spared.
PK - assume you have considered the view of Tom Luongo and others (here is a link to another analysis of similar view -- https://greencandleinvestments.substack.com/p/its-not-about-inflation-stupid?utm_source=twitter&sd=pf ) that the fed/JP is not necessarily trying to fight/stop inflation but is instead protecting the US commercial banks and the US financial strength and independence from the effects/plans of the Davos/WEF crowd? We try to follow your updates but may have missed a direct analysis of this contra-view -- the Luongo view seems to hold water, as the idea that he's simply off-base in his approach (ie, as Tucker says, this is not a demand-side problem, it's a supply side issue) to me seems too simple and/or naive.
PK - assume you have considered the view of Tom Luongo and others (here is a link to another analysis of similar view -- https://greencandleinvestments.substack.com/p/its-not-about-inflation-stupid?utm_source=twitter&sd=pf ) that the fed/JP is not necessarily trying to fight/stop inflation but is instead protecting the US commercial banks and the US financial strength and independence from the effects/plans of the Davos/WEF crowd? We try to follow your updates but may have missed a direct analysis of this contra-view -- the Luongo view seems to hold water, as the idea that he's simply off-base in his approach (ie, as Tucker says, this is not a demand-side problem, it's a supply side issue) to me seems too simple and/or naive.
Thanks in advance for your insight.
DT