Demand for Face-Diapers Falls Off a Cliff – Mask Maker 3M will cut 2,500 jobs as demand weakens and profit drops (Recession?) #LateStageSocialism – January 24, 2023,
One of the reasons I felt the need to create the term Late Stage Socialism was that I saw the government REDEFINING recession over three years ago; you can look for yourself how long ago I created the term Late State Socialism(#LateStageSocialism). In a nutshell, Late Stage Socialism is an ECONOMIC deflationary cycle can’t be redefined by the government, as it’s origins have little to do with the numbers and more to do with FEDERAL policy.
The reader, first and foremost, must understand that CONSUMER price inflation was running rampant prior to Joe Biden; HOWEVER, that consumer price inflation was cornered to certain markets in which ASSET prices were rising. Asset CONSUMER price INFLATION can benefit certain CONSUMERS who own assets that can be RESOLD for profit more than the purchaser paid for.
Pure unadulterated consumer price inflation on the flip side, is not an ASSET after the purchaser buys it; pure consumer price inflation is CONSUMED and loses 99.9% of it’s value the moment it’s purchased. Would you like to buy the bones of the chicken I just ate? I didn’t think so; that’s what separates pure consumer price inflation from asset price inflation, which could include purchasing a home with a mortgage and finding out at a later date that my house purchase was bought on the cheap as the new selling price for my house is double what BORROWED to purchase it.
When Joe Biden, Justin Trudeau, and all the other far-left FEDERAL politicians in the western world (which include some “Conservative” politicians, by the way) waged a SHORTSIGHTED war on fossil fuels, they completely forgot why a lot of people labeled fiat money the PETRODOLLAR in the first place. Whether you like it or not, petroleum and other fossil fuels FUEL the global economy, meaning that if I want to PRODUCE something to SELL to consumers somewhere in the supply chain, I’m going to need FOSSIL FUELS.
This is one of the reasons the global markets allowed the U.S. dollar to build all of its FINANCIAL infrastructures around the world and why the world was able to transition from a gold standard to a standard in which the U.S. fiat dollar is the most in-demand currency in the world, despite the fact that the United States FEDERAL government will NEVER be able to pay off its debts.
Is this U.S. dollar dominance permanent? No, but it’s here now until it’s not, and one has to ask why a U.S. company like 3M is engaging in Austerity Measures when the U.S. government basically bailed it out a few years ago by forcing millions of people to wear masks. The U.S. government created an ARTIFICIAL demand for 3M masks, at the time claiming it was a national emergency; now that this FAKE demand has been dissolved, 3M is having to dissolve its workforce, and most of us no what’s likely going to happen next.
Will more masks AGAIN be produced in China? Because one of the problems with the DOMESTIC war on fossil fuels is that it’s going to make PRODUCING things in the U.S. more expensive. Worse still is that a larger chink of Americans identify with the Democrat Party, and part of the Democrat Party schtick is to blame the RICH when the COST of production goes up and U.S. manufacturers, in order not to go BANKRUPT, have to pass those costs over to consumers.
Unlike the U.S. Federal government, which can run RAISE THE DEBT CEILING when it can’t pay its bills, a privately owned company like 3M has to operate its business within its means, now what some private U.S. companies do is lobby the government for contracts or bailouts, but if you’re 3M right now, you’ve lost your relevancy, in fact, we’re likely going into a cycle of lawsuits related to covid-19.
So from where I look at things, this late-stage socialism cycle will require AUSTERITY MEASURES, but for those of you who are dependent on the government for your survival, which includes those of you who work for GOVERNMENT, austerity is LIKELY something those voters will push back against and this one of the reasons why recessions in some instances can turn into DEPRESSIONS.
It’s not even a certainty that if Conservative politicians take over the federal governments of most western nations that it guarantees the federal government will shrink, Donald Trump, as an example, DID NOT drain the swamp, infact Donald Trump grew the swamp, SPACE FORCE is now a thing, the Left-wingers aren’t responsible for the economic disaster in the U.K, that’s Conservative leadership.
The numbers will be bad for at least a year if any politician begins FIRING public servants and cutting bloat, and if the politician in charge doesn’t have the right vision, a deflationary economic cycle can expand for DECADES.
Interesting times ahead!