The writing has been on the wall for years, the inflation catalyst is now driving things into disaster. The high oil price situation, driving up interest rates, is deliberate. Oil production can be increased worldwide to make up for the loss of Russian oil, but this has not happened. Housing price increases over the last ten years, driven by low interest rates, has blown a huge debt bubble. This debt bubble cannot be sustained with higher interest rates.
[Posted at the
SpookyWeather2 blog, June 23, 2022.]
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