Today’s blustering global economy has everyone on edge as inflation continues to hit the wallets of the common man and energy prices continue to soar globally. According to Credit Suisse, “the worst is yet to come.” Analysts at global investment banks seem to believe that the European Union and the United Kingdom are already dealing with a recession; S&P Global has a similar assumption, explaining in a report published by Manhattan Corp. that the UK is currently fighting a full year of recession S&
The breakup of the Nord Stream pipeline will increase tensions between Russia and the West – Putin claims that “the end of Western hegemony is inevitable”
Just as many believe that the conflict between the West and Russia has greatly increased, the world economy appears to have deteriorated further in the wake of the rupture of the Nord Stream pipeline. The UN has detailed that this destruction may have been the largest methane release in history. In addition, problems with the Nord Stream pipeline mean that Europe will have a harder time accessing natural gas this winter, with EU natural gas prices soaring to lifetime highsalong with countless other European energy sources.
Additionally, Vladimir Putin hasdeclared the act an “unprecedented act of vandalism” and an “act of international terrorism,” with both sides blaming each other for the Nord Stream pipeline rupture. Meanwhile, U.S. President Joe Bidensaid that the Nord Stream leak was likewise an “act of deliberate sabotage,” and further noted that the Kremlin’s blaming of the leak on the United States is simply untrue. Putin also, in a recent speech, noted that “the end of Western hegemony is inevitable. “37} speechtranslated by. Putin explained that he believes the West is greedy and wants to enslave countries like Russia
Further translated by Kissin, Putin said that the West utilizes finance and technology to subjugate other countries. According to the Russian president, the West collects a “hegemon tax.” They don’t want us to be free, they want Russians to be a mob of soulless slaves,” Putin told attendees at the event.”
There was a strong reaction from attendees, with one individual saying:
We’re going to take them all down, kill them all, loot them all. It’s going to be what we love.
Credit Suisse and S&P Global report say Europe and UK are already dealing with recession – “Europe faces a difficult and uncertain geopolitical and economic outlook”
Amid rising tensions, a Credit Suisse reportsays the UK and Europe are already in recession and the US is “about to nudge” into a recession. Analysts at global investment banks explained that some of the weight can be attributed to central banks raising interest rates. A Credit Suisse report detailed that “the combination of higher interest rates and ongoing shocks has led us to lower our GDP forecast.” The eurozone and the UK are in recession, China is in a growth slowdown, and the US is glancing toward a recession.”
The Credit Suisse report adds.
The increasing share of price categories above the central bank’s inflation target level is a clear indication that inflation is expanding from a limited set of drivers related to supply shocks to more general inflation. This expansion increasingly reflects tighter labor market conditions, which require stricter policies and economic weakness.
The Credit Suisse report follows remarks made by Citadel CEO Ken Griffin at a conference last Wednesday. Griffin explained that Citadel is “very focused on the possibility of a recession.” Furthermore, analysts in a report published by S&P Global explained that the UK and Europe are already in recession, with the war in Ukraine and Russia exacerbating the region’s bleak economy. s&P Global’s regional credit conditions chairman, Paul Watters says the EU has a tough winter ahead and European economies face heightened credit risks.
Watters believes that the EU’s energy price capping measures will protect Europeans from inflationary pressures this winter. Watters argues that “the financial support measures deployed by governments, especially the caps set on energy prices for ordinary households, will greatly protect households from even greater inflationary pressure during the winter.” This, along with the continued resilience of the labor market, is the main reason why we do not expect the performance of the UK economy to deteriorate.”
S&P Global’s report continues.
Europe faces a difficult and uncertain geopolitical and economic outlook as Russia loses territory in Ukraine, political risk appetite increases, exorbitant energy prices fuel inflation, interventions are triggered to support consumers and businesses, and central banks quickly adjust interest rate levels We are.
Meanwhile, theDollar Index (DXY)has fallen from its recent high recorded nine days ago, and countless fiat currencies around the world have rebounded against the greenback.84} The eurohas rebounded 2.15% over the past seven days against the US dollar,British poundalso rebounded. The British poundis up 3.95% this week. However, the pound has fallen 14.98% over the past six months, while the euro has fallen 11.25% against the dollar. Meanwhile, the Russian ruble has gained 42.44% over the past six months against the U.S. dollar.
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