A global recession is on the horizon - please read OP for mod warning

Well said, your bang on with the wage price spiral its coming and I have absolutely no faith in the ECB, I believe they will tolerate high inflation in order to save the bloc and if the war drags on, the working man will rise up and take to the streets because this winter will frighten people food costs have not even taken off yet.

Populist movement throughout Europe are rising and wont be long till the working population is banging the drum.

Denmark declares stage 1 alert and Italy about to go to stage 2

Who cares, needs must. Biden is going hand in cap to the Saudis to beg for more oil, an absolutely heinous regime. I can't see how we can cut one of the largest energy producers in the world out of our supplies and not face an economic meltdown in the west.

The reality is though they don't have any alliances, not a member of NATO or the EU and Putin knew that. Is the West and primarily the US prepared to finance a long protracted proxy war with Russia by supplying the Ukraine with endless weapons while our economies tank? I'm not so sure. The sanctions are designed to pressure Russia to stop the war and bring them back into the fold as quickly as possible. Longer this goes on, the west will push Zelensky to agree to a large annexation of Ukraine to bring "peace".

Any military action on Taiwan will see us go from on verge of recession to economic meltdown. Taiwanese refugees would be the least of anyones worries.

There are already massive chip shortages, Taiwans semiconductor facilities being either captured or damaged would send global supply chains reeling. No new consumer electronics, no new cars, heavy machinery, etc etc. Taiwan manufacture something like 50% of all chips on their territory, and even higher % of advanced/high end chips.

Thankfully China acting on Taiwan is not that likely

...and ultimately the problem is we ve been primarily using that new debt/money to (re)inflate pre-existing asset prices, rather than using it to create new assets, and implementing other polices in order to try redistribute the wealth created, now we have rapidly rising wealth inequality, and a big pile of sh1te on our hands!

I'm pretty sure that it has already reached some parts of the world!

Now, similar to the 2008 recession, you're going to see companies taking shortcuts and reducing staff while everyone gets hit with a heavier load.

I was working in a restaurant during the last recession and pre-2008, we always had six people on our side of the kitchen. The boss cut that down to 5 during the recession years, and we all had to work harder for a lower salary, it was absolute chaos and this went on for years, along with other cutbacks.

I can see the same happening again.....

Prices rocketing in Ireland