Wall Street experts are trying to blame the already failing global economy on ongoing conflicts in the Middle East, despite the world’s finances being a mess for years, even prior to COVID-19.
We’ve all read a lot of stupid stuff over the last three or four years, but nothing compares to the ignorance spewed by the Guardian on Sunday. I don’t know whether the author of the piece is just stupid, or actually thinks our current financial crisis is going to be caused by the conflicts breaking out between Israel and the terrorist organization Hamas, and other Middle Eastern-based violence.
Let’s set the record straight: we’ve been in a state of economic decline for years. World-leading economists have joked publicly about committing suicide to avoid the long-term consequences of stupid financial decisions by our government and global elites.
As JP Morgan Chase CEO Jamie Dimon noted: “What’s happening on the geopolitical front right now is the most important thing for the future of the world – freedom, democracy, food, energy, immigration.” But Dimon also seems to be ignoring the fact these issues have been going on for years. He said exactly the same thing when Russia invaded Ukraine, according to Insider.
Sure, war is going to exacerbate these issues. But conflict will absolutely not be the cause, nor the straw that breaks the camels back of this economic nightmare. This has been building for years, and human mismanagement and greed are to blame.
— Chris 🇺🇸 (@Chris_1791) September 22, 2023
Europeans have already been forced to choose between eating and heating thanks to greed by gas companies. Britain was even planning three-hour blackouts in 2022. Similar issues have been seen in South Africa and Bangladesh, too. What makes you think the same won’t happen here pretty soon?
Prior to COVID-19, we had this enormous tech bubble of overvalued companies with absolutely no discernable product or means to recouping the money they’d thrown away from investors. We saw that mini-crash already play out earlier in 2023 with the collapse of Signature Bank and others. (RELATED: Real Estate ‘Apocalypse’ Could Destroy American Economy, Midsize Cities, WaPo Finally Realizes)
Nowhere in the western world is safe financially right now. More layoffs are coming. We’ve created a totally unsustainable housing model that is going to crash and burn way worse than 2008. And no one seems to be focusing on the fact America barely produces enough affordable food anymore.
How do you think that’ll change as global conflicts continue and our government does literally nothing to protect us? Probably not for the best.