2022 economic crisis

Image showing Hooverville in 1932 and "Bidenville" in 2021^[1]

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]

While the capitalist world suffers high inflation, socialist China has been able to preserve the purchasing power of their consumers

References

↑ @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.

[1] @BenjaminCarollo on Twitter: "Eviction moratorium is about to end and Biden is out doing press conferences talking about his favorite trucks. #Bidenville"

[2] "Remember 2008? Another Terrifying Housing Crash Is Now In Progress" (2022-06-14). The Economic Collapse.

[3] "Worker pay isn’t keeping up with inflation" (2021-12-13). Axios.

[4] "Why are wages not keeping up with inflation?" (2022-06-06). MSN.

[5] "Strong inflation, anxious consumers add up to more worries that recession has already arrived" (2022-06-10). CNBC.

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