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The '''2022 economic crisis''' is an ongoing global economic downturn. Many factors are contributing to it, but they all are rooted in the inherent instability of the [[Capitalism|capitalist]] [[mode of production]].<ref>{{News citation|newspaper=The Economic Collapse|title=Remember 2008? Another Terrifying Housing Crash Is Now In Progress|date=2022-06-14|url=http://theeconomiccollapseblog.com/remember-2008-another-terrifying-housing-crash-is-now-in-progress/}}</ref> | [[File:Poverty in America- Hooverville 1932 and Bidenville 2021.jpg|thumb|235x235px|Image showing [[Hooverville]] in 1932 and "[[Bidenville]]" in 2021<ref>@BenjaminCarollo on [[Twitter]]: [https://twitter.com/BenjaminCarollo/status/1420793383967236097?s=20&t=OnQjc6M3mFkaGobNb7rlTA "Eviction moratorium is about to end and Biden is out doing press conferences talking about his favorite trucks. #Bidenville"]</ref>]]The '''2022 economic crisis''' is an ongoing global economic downturn. Many factors are contributing to it, but they all are rooted in the inherent instability of the [[Capitalism|capitalist]] [[mode of production]].<ref>{{News citation|newspaper=The Economic Collapse|title=Remember 2008? Another Terrifying Housing Crash Is Now In Progress|date=2022-06-14|url=http://theeconomiccollapseblog.com/remember-2008-another-terrifying-housing-crash-is-now-in-progress/}}</ref> | ||
High general [[inflation]], especially in gas prices and [[2022 food crisis|food prices]], a tanking stock market, and | High general [[inflation]], especially in gas prices and [[2022 food crisis|food prices]], a tanking stock market, and real wage decline<ref>{{News citation|newspaper=[[Axios]]|title=Worker pay isn’t keeping up with inflation|date=2021-12-13|url=https://www.axios.com/2021/12/13/wages-inflation-economic-data}}</ref><ref>{{News citation|newspaper=MSN|title=Why are wages not keeping up with inflation?|date=2022-06-06|url=https://www.msn.com/en-gb/money/other/why-are-wages-not-keeping-up-with-inflation/ar-AAY7VAn}}</ref> are all contributing to increased economic anxiety in many Western countries.<ref>{{News citation|newspaper=[[CNBC]]|title=Strong inflation, anxious consumers add up to more worries that recession has already arrived|date=2022-06-10|url=https://www.cnbc.com/2022/06/10/inflation-consumer-woe-add-to-worries-that-recession-is-already-here.html}}</ref> | ||
[[File:Inflation rates by country for 2022 crisis, China's low rate highlighted.jpg|thumb|233x233px|While the capitalist world suffers high inflation, socialist China has been able to preserve the purchasing power of their consumers]] | |||
== References == | == References == | ||
<references /> | |||
[[Category:Economic crises]] | |||
Latest revision as of 01:37, 28 December 2022
The 2022 economic crisis is an ongoing global economic downturn. Many factors are contributing to it, but they all are rooted in the inherent instability of the capitalist mode of production.[2]
High general inflation, especially in gas prices and food prices, a tanking stock market, and real wage decline[3][4] are all contributing to increased economic anxiety in many Western countries.[5]
References[edit | edit source]
- ↑ @BenjaminCarollo on Twitter: "Eviction moratorium is about to end and Biden is out doing press conferences talking about his favorite trucks. #Bidenville"
- ↑ "Remember 2008? Another Terrifying Housing Crash Is Now In Progress" (2022-06-14). The Economic Collapse.
- ↑ "Worker pay isn’t keeping up with inflation" (2021-12-13). Axios.
- ↑ "Why are wages not keeping up with inflation?" (2022-06-06). MSN.
- ↑ "Strong inflation, anxious consumers add up to more worries that recession has already arrived" (2022-06-10). CNBC.