by James Corbett
June 19, 2022
In case you haven’t noticed, the wheels are falling off the global economy right now.
We’ve all started to feel the pinch of supply chain disruptions and rising energy costs and economic uncertainty and inflation—not to mention stagflation and shrinkflation and deflation—but this past week has really hammered home the extent of the crisis we are facing. It seems every single day brings with it the news of some fresh five-alarm financial fire.
The Dow is sinking. The loonie is falling. Japan is cracking. Global stocks are plunging. Eurozone inflation is spiking. The Fed is hiking. Builders are slashing. Crypto is crashing. Treasuries are tanking.
And that’s just this week! As I’m sure you’ve seen, there have been many, many such stories circulating in the financial press in recent months, all touting similarly bleak numbers.
But it’s important to keep in mind that these numbers are just that: numbers. The real question is what these numbers actually mean.
Today, let’s answer that question by drilling down on the narrative behind the numbers and discover what that story tells us about the bars of the financial prison that are locking into place around us.
Categories: Economics/Class Relations