The seventy year run of prosperity built on the back of fossil fuels has come to a premature end in 2022 [see photo]. The future looks uncertain as the global economy slips and slides into a major recession. This recession is being forced upon 7 billion people by the actions of those in charge of the EU, USA, Germany, Britain, Australia, Sri Lanka, etc. People will suffer around the globe because a small Elite Class has accrued the weath, power, and status that allows them to be evil.
This recession will introduce a new world order to replace the one set-up in the closing days of WWII. In those halcyon times the consensus was that the future belonged to those who would create and run our global institutions. Institutions such as the League of Nations [UN] would deliver us a united world by the beginning of the C21st. In many respects this happened and so the citizens flourished. But the task of governance under central banks, totalitarian regimes, global monetary policy, and continued prosperity proved too big.
Today we are about to fall on hard times as inflation, incompetent governance, corporate greed, and global indebtedness combine to bring down these global institutions. Tumbling down under the pressure of food shortages, rising unemployment, government waste, and foreseen [or unforeseen] hot wars. This period will be worse when deflation kicks in and global asset prices decline. We will see a global system based on fossil fuels, cheap money, lax borrowing rules, and consumer-led economies implode. We will be unable to stop it.
The coming global recession is the one we had to have; it is the one we must endure before we can proceed to the next golden era on planet earth.
Richard.
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