@Mattminton79 Hey Matt, I'm liking your posts, not always agreeing because I actually think the free world economies have done pretty well over the last few years. Reasons !!
We have had absolutely huge headwinds -
1. COVID is a once in a century pandemic. It killed millions (even official figures say million) and lockdowns and global trade oncosts were massive - but we survived and are doing OK.
2. Sure food and drink and petrol are much more expensive, but that can all be explained, and when the tourist workers come back to pick the fruit and milk the cows etc food prices will come down, in Oz anyway.
3. Other structural problems the world faces are due to Putin's war and the wheat shortage - hopefully our farmers can get their harvest in - many fields are waterlogged and the grain will be wet, if it works out well our farmers can help the world avoid a renewed starvation crisis.
4. Also, partly due to the war, fertilizer is going to be a huge problem and will drive up food prices due to shortage. BTW, there is known phosphate on Inca's tenements.
5. Germany** is EU's industrial powerhouse, and they will be crippled by gas shortage due to Nord Stream destruction, and Putin's terror objectives.
But IMO we have survived all that very well, there is something about human nature. We cruise through the good times and get fat on pudding and pie, but when it is realised that the chips are down the great majority of us can stand and be counted, and fight for the right.
Also, I believe in the new Modern Monetary Theory (MMT) Where that is used to keep people in employment, especially to build nation building assets like road and rail, and essential materials mega factories. Then we have opportunity not disaster. Of course if the money goes only to the 'coffee and cake' economy we just get fatter and die.
I'm liking the ann, it shows promise. I will comment later.
Right now I'm just back from a three day trip to have lunch with mates, and have done a covid test, and I'm clear.
A month ago I did another lunch, for 600, it was a super spreader, but missed me too.
So it's meaningfull to say "Take care" - but do as Matt says, don't buy a Land Cruiser this year, get a Porsche in 5 years time. LOL. **
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