ok I admit I'm no economist but I am part of the top 2 percent in the USA and am north of 50 so no radical but can't get this out of my head. The world spent over two years with a global pandemic where many services and industries ground to a halt. No recession. Unemployment rises dramatically. No recession. Industry crisis after industry crisis occurs. No recession. Pandemic begins to end and people wake up and realize that the way the world was before took massive advantage of them and start to push back and excert their control. The mass resignation begins. Higher wages begin after decades of stagnation. Record low unemployment around the world. Could it be we are finally turning a page after decades of the rich being allowed to steal the majority of value out of the economy? Nope a relatively small war in Eastern Europe (horrible yes but Russian oil was never big in North America and grain from the Ukraine… cmon this is not 1932) occurs and presents the perfect excuse to create fear and doubt in the world. Oil prices rose 11 percent the first month after that war started … just 11 percent… but big oil saw the opportunity to raise prices well ahead of this rise. This cascaded and presented an excuse to rapidly raise prices on everything well beyond the rise in oil prices. Now que the media blaming rising cost of labor as a contributor to inflation and this recession. The rich begin massive sell offs of their holdings. Rich beyond belief companies begin to layoff and cancel job offers. The media tisk tisk people saying it's time to rethink your demands for a decent wage and working conditions. So… pandemic no recession and record wealth created for the top 0.01%. … post pandemic rapid recovery and record employment BUT workers finally standing up for themselves and we get a recession…this is about making working people understand their place in this new world… to keep us all scared and docile again… Know your place this is saying… know your place.
(and before someone tells me about interest rates, too much money in the system and all that I know all this but the above just seems unbelievably well timed and against most macro economic principles)… rant over thanks…