A global recession is on the horizon - please read OP for mod warning

Pullback now appearing in US house prices

https://twitter.com/charliebilello/status/1564618424034131984

So you think if the EU decided enough is enough and went back to Putin to turn back on the gas, he would immediately turn it back on and bring it up to full flow and back to pre-war prices? Russian gas isn't sanctioned, so what would the EU have to give in return?

The Power of Siberia line is the only major operational gas link between Russia and China, once its upgrades are fully completed in 2025 it will be capable of exporting 38bn cubic meters of gas per annum compared to the 160bn per annum purchased by the EU. Interested to know how you think the other 122bn cubic meters will be transported to China? Especially since Power of Siberia 2 is a fantasy at this moment because parts from the west are needed for its construction and even if somehow, the Russians and Chinese pulled it off, absolute best case scenario would be a 2030 operational start and even then it would only be able to handle 50bn cubic metres, leaving Russia with a 70bn cubic metres shortfall. Again this is fantasyland best case scenario, Russia are stuck with PoS1 and cannot replace European gas demand in China as a result.

Out of interest, what European countries do you predict to end up like Sri Lanka this winter?

It is utterly clear the world is lead or has been lead by a crowd of morons.

Our Irish government may have their faults and are not perfect but they are saints compared to the morons who are in charge of several powerful nations either at present or in the near past. It beggars belief how clueless they are ...

Ok this Covid lockdown stuff at the start ... it was a new virus, it was a panic reaction. BUT China are still acting as if it were 2020 and closing down large parts of its economy. Inviting a full scale revolution or what?

Trump and his mad sanctions against Iran ... utter suicide against the world economy. The fact that it was not ditched the minute Trump was out of office is worse.

Russia? Dear oh dear! What imbecile would launch a stupid economy destroying war after a pandemic. You'd expect better decisions in a transition year project.

Crazy ... no one has learned a thing since the Iraq war/banking crisis era recession. Not a thing learned by these brain dead morons who call themselves leaders. They are not fit to lead a school nativity play let alone superpowers.

430 Euro billion turnaround in a year.

China and Turkey are eating the Russias lunch on energy prices as the Russians have lost their biggest trading partners and have no leverage. China are believed the be paying about 20% below market price at the moment. Btw turkstream has a max capacity of 30 billion cubic metres per year, so quite a bit away from the 122 billion shortfall if you try to replace the EU with China. Where else are they going to sell to? Kazakhstan? Belarus?

Russia are flaring gas because they are desperate and have nowhere to sell it. You can’t just stop gas production, they are burning billions of dollars because of their geopolitical incompetence.

What counties will end up like Sri Lanka this winter then? You are saying cold countries that relied on Russian oil and gas, so in that case we should expect the Danish state to collapse before February 2023?

Qatar energy going into the Ammonia business.

That's surely almost a 100% increase in prices in the space of 6 months

Things are gonna go bang soon enough

Ah sure look everything's grand, Galway text buzzing 3 houses and a holiday home in Bulgaria. There will always be people who just do not want to hear reality and how **** things may get.

They are slowly boiling the frog with the electricity increases. The gov needs to come out and cap the price.

Small businesses are going to fold and the city centers will be ghost towns.