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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> | 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> | ||
== References == | == References == | ||
Revision as of 17:09, 15 June 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.[1]
High general inflation, especially in gas prices and food prices, a tanking stock market, and real wage decline[2][3] are all contributing to increased economic anxiety in many Western countries.[4]
References
- ↑ "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.