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The international economy is in shambles, and that is not news for anyone with common sense. For the bankers, however, it is a different story. I have never been a fan of banks, or insurance companies, or anything of that sort. They are all legal Ponzi schemes that benefit from poor/middle class people who cannot afford overly-priced necessities to live.
The Post-Pandemic Depression
Let’s face it - the world has never recovered from the pandemic. It is the great depression that no one is talking about. Prices have skyrocketed — right from a water bottle to a mansion. I learned a few weeks back that the same vehicle I bought in 2019 is almost twice worth the amount.
According to Brookings, the post-pandemic era inflation was mainly driven due to increased prices, which was, in fact, fuelled by demand. However, the rate of inflation in 2021 and 2022 trumped the projected rate. While many economists also predicted that inflation would decrease in 2023, it still has not come to that point.
While the cost of living has tremendously increased, wages for the common population have remained the same. This results in a reduced GDP, but…
