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

Canada hikes again to 5%.

https://www.cbc.ca/news/business/bank-of-canada-july-meeting-1.6904330

Demographics were driving wages before the pandemic and as the UK is finding out importing cheap labour from outside the EU is not meeting the shortfalls in critical services. Educated worker shortages are a baked in factor that can't be engineered away with fiscal tools.

...again, not exactly true, there has of course been a major expansion of central bank created money, such as qe, but what happens in that process is that the reserve accounts of financial institutions are credit by the process, which in turn allows these institutions to be able to further expand their abilities to lend, and what happened in turn with this is, rather than most of this money going towards 'productive means', i.e. helping to make goods and services etc, it has been found its far easier and quicker to gain returns by using this money to simply speculate in asset markets, causing major inflation in asset markets, property, stocks, shares bonds etc.....

...if you think the bulk of our money supply has occurred in the last few years, during the covid period, we ve got problems, i.e. you can see a very large proportion of our society, again, is still deciding to ignore the catastrophic failure qe has been, and the general idea of financialisation of our economies, this is ultimately why we re all now eyeballing entities such as the shadow banking sectors, i.e. virtually nothing to do with covid measures you mentioned, i.e. this has been going on for years, if not decades, many respected sources have been warning us, including some that were warning us leading to 08! again, most of the global money supply now just sloshes around in asset markets, inflating and re-inflating these markets, i.e. its primarily used for speculation in such markets

...and once again, our current inflationary pressures have virtually nothing to do with the money supply, i.e. demand side, as they are primarily supply side lead, yes there probably is an element of demand side, but.....oh and we have some of the data to support this also, people arent stupid! the average joe and mary are not packed to the quills with cash, and have not been going on spending sprees, driving up prices, thats not whats happening here! hence why rapidly increasing rates wont work, it ll just do astonishing damage to our economies, and to many individuals, particularly those with debts...

...are you actually trying to tell us that the rapid increase in the price of energy has had little or no impact in inflation, serious? oh and all that data is there to!

...oh and theres some data there that also shows theres been a clear case of widescale profiteering by many sectors, but surely that hasnt also played a part in this game!

...its disturbing that some are still sticking to this bullsh1t, even when theres plenty of data to see whats actually going on!

...no wonder some commentators are just saying its the usual class war tactics!

US interest on it's debt up $100 billion in the first 6 months of 2023 compared to last year. It is now over twice as much as it's corporation tax income.

According to you we need to be concerned about private debt. Okay, what's going to happen in the next 12 months?

...its clearly obvious, we re all going to win the lotto! fcuking hell what an ignorant question! nobody knows, no human, no institution, nobody, except me of course, but for a fee!

Eurozone inflation now 5.5% higher than last June which was as expected.

Thats still more inflation though. 7.9% YoY inflation is shockingly high still. The UK is in their own clusterfook compared to the rest of the G7 and the EU27 tbh and it's not going to get better any time soon.

Of course it is more inflation, and very high. Who could dispute that ?

Inflation is a measure of increase of prices.

It is incorrect to say inflation is 5% higher than year previous, what that poster meant is prices are 5% higher than year prior.

You do not understand what year on year means i think.

If CPI YOY was 10% June 2022 it means inflation rate was 10% higher than June 2021.

If CPI YOY is 5.5% June 2023 it means inflation rate is 5.5% higher than June 2022.

So inflation is 5.5% higher in June 2023 than June 2022 not lower.

Looks like a shortage of grain could be coming soon, looks like pork prices will be going up in Spain.

I can't read the full article but interesting facts.

"Ireland’s ‘cash-for-citizenship' programme suffered from poor oversight, a lack of “any real vision”, and issues surrounding the vetting carried out on applicants, a report compiled for the Department of Justice found."