Probably. My gut feeling is more than probably. There is so much imbalance, so much distortion.
"The big issue across Western Economies remains consumption – how much can consumers actually buy after their disposable incomes have been slashed by energy price inflation, higher taxation, inflation and low wages – the latter being a consequence of the increasing “financialisation”, aka greed, of corporates to pay workers less to make bosses richer. (That’s the reality of the last 20 years; bosses got insanely rich and higher paid. Workers got poorer.) When consumers can’t consume because all their income is consumed by higher rents, paying of credit cards, taxes, and dismal jobs… that’s when to worry. That time is now. Crashing consumption is the issue we haven’t yet seen on company earnings – yet.""
