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It’s really easy to just constantly predict an economic crisis like this guy does. No one holds you responsible if you’re wrong. You just say “well, it’s coming next year then.”
However, at some point, it has to actually happen. The outline in the above video is good and more accurate than most of the mainstream stuff you’re going to see, virtually all of which is a joke and always wrong.
This guy is going to be right at some point, but we don’t actually have a timeframe.
RT:
The world is facing the “perfect storm” of high inflation, rising interest rates and a recession in 2023, with people who are currently employed likely to be hit hardest by the crisis, famed economist and New York University professor Nouriel Roubini told Australia’s ABC on Thursday.
One of the first economists to predict the financial crisis of 2008-09, Roubini has been warning now for months of a stagflationary debt crisis, which would combine the worst elements of 1970s stagflation and the 2008 debt crisis.
“I do believe that a stagflationary crisis is going to emerge this year,” he said, pointing out that the debt ratio in advanced economies was only 100% of GDP in the 1970s while currently it is 420% of GDP, in private and public debt.
“So, in this case, if we have those shocks to, say, oil prices, not only do you get inflation, not only do you get recession and stagflation, but you get what I call a great stagflationary debt crisis, because with interest rates so high, then that [debt] ratio has become unsustainable,” he explained.
Yeah, I mean, raising interest rates was retarded. On its face it seemed retarded, at least, but in reality, it must have been malicious. No real economist would think it was a good idea to try to manage totally out-of-control inflation from that coronavirus hoax by wrecking the market.
It sucks that poor people were struggling with inflation, but the situation has gotten a lot worse for them now that the rates have been raised. And the inflation just keeps happening regardless – the rate hikes have not significantly helped inflation.
So, therefore, we must say that this guy is correct, or more correct than most of the public talkers, many of whom tried to claim that the situation now is just like the 1970s and interest rate hikes would fix inflation.
However, whether this will happen this year is unknown. Seems like it probably will, but then, it might not.
Making predictions is stupid.
Actually it’s not, because people invite you on shows and buy your prediction journals, which are like horoscopes.
Fitch Ratings sees Germany and Italy’s economies going into recession by the end of this year, though not the euro zone as a whole https://t.co/ZwJNmLPAwr
— Bloomberg Economics (@economics) March 2, 2023
