As of today, I am officially out of the “Doomsday” prediction business. There is nothing more to predict. Doomsday is here. Know more:
AS of today, I am officially out of the “Doomsday” prediction business. There is nothing more to predict. Doomsday is here.
Over the past 60 years, there have 29 when global gross domestic product growth was higher than the previous year and for 40 years, the global annual inflation rate was lower on 22 occasions. This may seem to show stability. But while the overall quality of life and standard of living everywhere has improved dramatically, F. Scott Fitzgerald was essentially correct in “The Great Gatsby.” “The rich get richer and the poor get —children.
US household wealth in 2022 saw the second-fastest decline in history rivaled only by the 2008 housing crisis. “Ok, but inflation is going down and Biden assures that the economy is ‘as strong as hell.’” However, the total size of the US GDP is lower this year than in 2021. You cannot increase wealth with the economy barely moving. And US employment numbers are as truthful/accurate as the FTX financial statement and Sam Bankman-Fried’s income tax return.
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