this post was submitted on 29 Sep 2022
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33
That's a nice economy you've got there, it'd be a real shame if anything happened to it. (lemmy.ml)
submitted 2 years ago by yogthos@lemmy.ml to c/memes@lemmy.ml
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[–] yogthos@lemmy.ml 3 points 2 years ago (3 children)

Yeah, that's sort of the elephant in the room. The west has been printing money like no tomorrow each time there has been a risk of a recession. This goes back at least all the way to the Y2K crisis. They've been basically externalizing the problem into the future all this time. Then the pandemic hit and the economic war and all of a sudden printing money doesn't solve the problem anymore and they don't know what to do.

Meanwhile, Russia's been shoring up its economy since 2014 and carefully weaning itself away from the west this whole time so it would be able to survive decoupling. I can guarantee that China's been doing the same, and these will be the rising economies as western financial system spirals out of control next year.