GLOBAL Economic Deflation and Price Controls: Why Lower Gas Prices In This Climate Are Not a Good Thing For The Global Economy in 2022 – December 9, 2022,

 

The charts are currently showing a GLOBAL economic slowdown, primarily being led by the China shutdowns; via my contacts in China, some people in China are still scared to go outside for fear of the Covid-19 virus. So although in Western countries, we’ve put covid-19 behind us, in China, some are still fearful of the virus, meaning that despite how you might feel about the Chinese Communist Party, there appear to be supporters of their zero covid mandate.

 

Whether intentional or not, China is indeed flexing its muscles with OPEC, which already cut oil production further in November; what I’m getting at here is that with Joe Biden’s war on Fossil Fuels, the Chinese Economy by 2023 will likely be SIGNIFICANTLY larger than the U.S economy,t will prove evident the DEPENDENCE OPEC will have on the Chinese economy more so than the U.S economy.

 

OPEC oil output drops in November after cut pledged -survey | reuters.com

 

This doesn’t necessarily equate to a booming consumer-driven economy in China. However, energy priorities globally might shift, meaning the world economy will be headed to a shift in energy dominance in which the U.S. is no longer considered a priority. In Canada, the price of gas has fallen but the evidence suggests prices are falling only because the ECONOMY is deflating, and this is highly problematic for WESTERN nations like Canada, which have all sorts of PRICE controls in place.

Price controls and economic deflation are a horrible combination because SHORTAGES lead to price inflation. The average person is unable to comprehend the damage PRICE controls have on the DOMESTIC economy, so as prices rise because of SHORTAGES, wage earners are going to demand higher wages without understanding that economic deflation is supposed to equate to PRICE deflation.

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Why prices can’t deflate is because of GOVERNMENT price controls. One of the reasons people like me argue Franklin Delano Roosevelt(FDR) prolonged the great depression had to do with PRICE CONTROLS. People tend to forget that prior to minimum wage laws if the economy were deflating(which is inevitable), employers would slash wages.

Well, slashing wages in the modern era, below the minimum wage is ILLEGAL in most western nations, and slashing wages for high-wage earners will result in a lot of people quitting their jobs, which is one of the reasons that instead of slashing wages, most modern employers will simply FIRE staff. I’ve been writing about AUSTERITY measures for years now, and it’s because of the economic situations unraveling right now.

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So, one of the major employers in most western nations is the various branches of government. My opinion on this matter is that a lot of governments will be forced to FIRE a lot of government workers eventually. It won’t surprise me if certain government agencies are sold off. I don’t see this happening immediately, but I do see it happening out of necessity in the future.

We’re in an era in which people want the government to control the weather. There are a lot of people who want to phase out fossil fuels without a viable market alternative. Now, I don’t know. Maybe something has been designed, and it will be released soon, but as it stands now, there is no viable alternative to fossil fuels, and this war on fossil fuels will lead to higher prices.

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Currently, gas prices are at ANNUAL lows, but OPEC+ is combating this by cutting supply. If China ever comes back online, the price of oil will likely not only skyrocket, but I suspect China will be the world’s biggest economy in 2023, which points to a global economic shift. If it becomes evident that there’s more money to be made in Communist China than in the United States, what does that mean for the global economy?

Gas prices in Toronto will drop this week to levels not seen since January, says analyst | thestar.com

Interesting times ahead!