The US stock market is home to the world’s biggest companies and has set a series of all-time highs recently despite warnings from the International Energy Agency that the global economy is facing the biggest energy shock in history.
Its like people are completely asleep to the energy and food crisis that is building up. I guess there has been so many crisis lately they they have stopped reacting.
If Hormuz doesnt open up, and I dont think it will, there will be a lot of big problems. Probably mostly for Asia and Europe, but im not sure if America will be immune. What if food costs increase? Fuel costs?
fira@lemmy.today 2 weeks ago
We keep seeing these articles & so far it keeps not happening, but eventually the system has to collapse, right?
realcaseyrollins 2 weeks ago
The bubble will pop at some point, but I don't think much will happen until housing is massively disrupted, like there are mass foreclosures, evictions, or failures of the companies giving out housing loans.
We could have received a necessary correction if we didn't give out stimulus checks during COVID-19, but that would have hurt politicians' popularity, and probably wouldn't have many them many corporate friends either.
1984@lemmy.today 2 weeks ago
I think its a bit scary when an official person from Bank of England is saying it. But yeah, we will see. I think Trump is creating a global crisis right now and if that doesnt affect the stock market, I will be very surprised.
A crashing stock market is normally what comes before a huge depression.
Bluegrass_Addict@lemmy.ca 2 weeks ago
I’m sure we’ll all be burning to death before the manipulation stops or crashes