The current state of affairs and what is to come...
In today's business model, companies borrow money to function (credit). This is what makes economies so vulnerable. They have had cheap money (loans) with artificially low interest rates. As rates increase they will be exposed and the first to go will be the employee. This will have devastating effects on world economies and its citizens. Not only do we have inflation world wide due to this horrible business model, but you have governments running countries in the same way. We will have prices rising not only due to inflation but, you will also have businesses raising prices in order to keep up with the cost of borrowing money (raising rates) to stay in business. Not all businesses will survive this and some will go out of business, others will start to layoff employees. When this happens we will have a tsunami of consequences when this occurs. If prices continue to move up and people don’t have jobs to afford these prices they will then turn to federal and state assistance for help. This would require governments to borrow and/or print more money. This cannot happen if we are to get inflation under control so it will be every man, woman and child for themselves. Save your money now before it’s too late and don’t keep all of it in the bank because they don’t have enough cash on hand for when everyone goes to withdraw savings. This will also slow down the economy in a time where companies hold too much inventory due to covid and now they won’t have the consumer they depended on to get rid of it. If the consumer can’t and doesn’t have any money to spend when the consumer is the GDP of the United Staes of America, it will send us into a financial hurricane never seen in this lifetime since the Great Depression of the 1930’s.
We are 8 days away from the USA GDP numbers that will confirm we are "officially" in a recession and this will only be the beginning. We continuously repeat the same mistakes of the past over and over. Some define this as insanity.