Think of the supply chain problems. People couldn’t get baby formula. My supermarket still has trouble gets lots of pasta. The frozen food section isn’t what it used to be.
Clever people will try to find enough oil and gas and they will try to move it from here to there, but we have lots of evidence now that the logistics of supply and demand is harder today than it used to be. And the supplies that manage to make it through will be too expensive for most people.
I completely agree with your statements and examples of supply chain problems. Good post.
IMO those problems will only accelerate in the near future.
I believe we hit a peak global economy about a decade ago and we aren’t going to be able replicate that wealth creation.
Why not?
Answer: A globe that is getting old, combined with a labor shortage isn’t going to lead to more production in the essentials. Also overpaying for useless public and private sector nonessential jobs, will slow down labor moving in the right direction.
Its going to be a wild ride economically over the next decade.