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The World is Facing Recession
The inspiration behind today’s article is that many nations, barring North America, are now facing recession, with Germany in technical recession.
Still, Japan is also in recession, as are the United Kingdom and most European nations.
The same was true for Hungary, Ireland, Greece, Lithuania, Estonia, and Finland.
Israel probably as well, while Australia, New Zealand, France, Spain and Italy are only a rounding error away.
China’s data, as they are, suggest that the Middle Kingdom is, by most definitions, at best, recession-adjacent. Also, try to keep aware that accurate information from China is almost impossible to come by.
Apart from the North American continent, this global recession is caused by the collapse of domestic consumption within these nations due to the ageing populations, with around 50% of the Boomer generation already retiring on average.
Those retiring will spend less money on goods and services and must manage their money for the rest of their retirement until they die.
Most of them will be dead by 2040.
With these nations having more people over 60 and in retirement age, they will not have the domestic population to maintain a domestic-led consumer economy.
