The West has been in a severe economic collapse since at least the start of the virus hoax and all the lockdowns in March 2020. It was further exacerbated with all the stupid sanctions that were put on Russia and this Ukraine war insanity. It’s comical that HSBC, this major British bank, is only warning of a recession for Western countries when things have been crumbling for a long time now.
RT:
The US is projected to enter recession in the fourth quarter of 2023, the British banking giant HSBC said on Tuesday, adding that Western European countries would face a downturn as soon as next year.
According to the midyear outlook issued by HSBC Asset Management, recession cautions are “flashing red” for many economies as stock and bond markets are “out of sync” with fiscal and monetary policies.
While some parts of the economy are still resilient, the balance of risks “points to high recession risk now,” with Europe lagging behind the US but the macro trajectory generally “aligned,” the bank’s global chief strategist Joseph Little said in the report.
“Our central scenario is for recession in western economies, and a difficult, choppy outlook for markets,” Little projected, citing two reasons behind the outlook.
Part of the reason these firms have been able to get away with this nonsense is because major economic statistics and indicators are faked. Every data point is some sort of manipulation or a lie. Just the fact that they’re talking about a recession is another indication that these people can’t keep up these lies.
We all see how companies everywhere are cutting jobs. The price for basic essentials keep rising and huge numbers of people are relying on credit cards. It’s a complete mess.
My favorite economic doom YouTuber Jeremiah Babe provides a more accurate assessment of things in his latest videos.
