Investors paranoid, inflation still an issue, the future of the economy may hinge on savings. It could get wild, based on what data indicates and whether the data is accurate. What is next?
As far as I can see, and I'm no expert, just an observer, we've been in an ever-growing recession since 9/11/2001. Life has never been the same since the destruction of those buildings. There are ups and downs, etc….. But mostly, what I've experienced compared to pre-9/11 is nothing except recession. That's why you see homeless people everywhere. That's just my opinion. Thank you for your deeper insight.
I think it could even go back to the mid and late 1980s in terms of wage growth, which was truly destroyed when the USA left the gold standard totally. The shift from global trade (something that has added wealth to the world and to individuals) began to shift to global governance after the Berlin Wall fell, and the American corporations sought greater profit by shifting work forces and literally forgot about regional security needs and the income requirements of its citizens. That has led to a slowly declining standard of living for Americans and Europeans. Asians have adapted will as being a source of hard and reliable labor, and their standards of living have improved meteorically. The sad part of it is that the PRC has built itself a labor mill (largely of slaves or wage indenture by lack of alternative) and has also used subsidization of goods to destroy foreign market competition ( something Doomberg has mentioned quite a bit). At some point, if the governments of Western nations aren't totally captured by (and I'm gonna use this word) fascist corporate influences like Blackrock and other ESG-supporting companies, time will come to repatriate industries we need, like steel making, pharmaceutical production, at least for critical needs, and semiconductor manufacturing among others. Like it or not, the PRC and some of its allies want to become the global hegemon, and will stop at nothing to restrict our ability to utilize our natural and intellectual assets. Nations, and not just the United States, need to revert to key global trade and not be seduced by globalism, which literally allows large corporations and political hegemons to run the world. It is better to have hundreds of experiment labs (nations) contributing to the progress of humanity than to leave it blithely in the hands of a few people. Workers around the world, even with AI in my opinion, could engage once again in useful labor and raise living standards around the world. People CAN improve their standards of living if they ALLOWED to. That is just my two cents worth :) .Thanks for reading Charlotte! Back to work for me.
Wow! Thank you for your enlightened response! You see the forest through the trees. I lived in Berlinfor a shirt time following the destruction of the wall. The contrast between the east side and the west side was easily noticeable. A dichotomy.
when I used to go to China I always wondered why I receive so much value for purchases and services. except when you stepped into an American hotel chain like the Hyatt. Then teatime might cost you several hundred dollars. Compare that to a beautiful Chinese hotel with wonderful ambiance and teatime was maybe $5. We were paid a lot of money to perform in China.
As far as I can see, and I'm no expert, just an observer, we've been in an ever-growing recession since 9/11/2001. Life has never been the same since the destruction of those buildings. There are ups and downs, etc….. But mostly, what I've experienced compared to pre-9/11 is nothing except recession. That's why you see homeless people everywhere. That's just my opinion. Thank you for your deeper insight.
I think it could even go back to the mid and late 1980s in terms of wage growth, which was truly destroyed when the USA left the gold standard totally. The shift from global trade (something that has added wealth to the world and to individuals) began to shift to global governance after the Berlin Wall fell, and the American corporations sought greater profit by shifting work forces and literally forgot about regional security needs and the income requirements of its citizens. That has led to a slowly declining standard of living for Americans and Europeans. Asians have adapted will as being a source of hard and reliable labor, and their standards of living have improved meteorically. The sad part of it is that the PRC has built itself a labor mill (largely of slaves or wage indenture by lack of alternative) and has also used subsidization of goods to destroy foreign market competition ( something Doomberg has mentioned quite a bit). At some point, if the governments of Western nations aren't totally captured by (and I'm gonna use this word) fascist corporate influences like Blackrock and other ESG-supporting companies, time will come to repatriate industries we need, like steel making, pharmaceutical production, at least for critical needs, and semiconductor manufacturing among others. Like it or not, the PRC and some of its allies want to become the global hegemon, and will stop at nothing to restrict our ability to utilize our natural and intellectual assets. Nations, and not just the United States, need to revert to key global trade and not be seduced by globalism, which literally allows large corporations and political hegemons to run the world. It is better to have hundreds of experiment labs (nations) contributing to the progress of humanity than to leave it blithely in the hands of a few people. Workers around the world, even with AI in my opinion, could engage once again in useful labor and raise living standards around the world. People CAN improve their standards of living if they ALLOWED to. That is just my two cents worth :) .Thanks for reading Charlotte! Back to work for me.
Wow! Thank you for your enlightened response! You see the forest through the trees. I lived in Berlinfor a shirt time following the destruction of the wall. The contrast between the east side and the west side was easily noticeable. A dichotomy.
when I used to go to China I always wondered why I receive so much value for purchases and services. except when you stepped into an American hotel chain like the Hyatt. Then teatime might cost you several hundred dollars. Compare that to a beautiful Chinese hotel with wonderful ambiance and teatime was maybe $5. We were paid a lot of money to perform in China.