northman on Nostr: A wide range of reliable economic indicators are pointing to a severe financial ...
A wide range of reliable economic indicators are pointing to a severe financial crisis starting later this year in North America, likely on the scale of 2008-09 or even 1929-37. This will lead to massive job losses, increased poverty, acrimonious political finger pointing and widespread social unrest. Now is the time to prepare.
Europe will fare far worse. The destruction of the Nord Stream pipelines by the U.S. and the resulting disindustrialisation that is occurring, along with the sanctions that have been imposed on Russia (and possibly soon on China), have put their economies in an extremely fragile situation that will not allow Europe to absorb the incoming financial crisis anywhere near as well as North America. The result could be cataclysmic. It is probably already too late to prepare.
Asia (incl. Russia), South America, Africa and Oceania will also suffer, but likely to a lesser extent than either Europe or North America, depending on how well they are able to isolate themselves.
Europe will fare far worse. The destruction of the Nord Stream pipelines by the U.S. and the resulting disindustrialisation that is occurring, along with the sanctions that have been imposed on Russia (and possibly soon on China), have put their economies in an extremely fragile situation that will not allow Europe to absorb the incoming financial crisis anywhere near as well as North America. The result could be cataclysmic. It is probably already too late to prepare.
Asia (incl. Russia), South America, Africa and Oceania will also suffer, but likely to a lesser extent than either Europe or North America, depending on how well they are able to isolate themselves.