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

Ita certainly not the same, no. Central Banks are technically insolvent and you're worried about commercial banks....

2008 was simply a property wheeze gone wrong, that infected other parts of the system. The bond market is THE market, all else is just a sideshow.

Yes, 2/3 of dollars reside abroad and it so due to the artificial creation of the petrodollar. The rise of the petroyuan is already happening.

The weaponisation of foreign currency reserves by USA could not have been a dumber move, playing right into the hands of Putin as a rallying cry to BRICS and to those 47-50 countries who abstained on the Ukraine UN vote, being in the sphere of influence of Russia and China.

Months earlier, Putin had visited both Saudi and Nigeria. Then the West visited (Boris) and pleaded (Biden) with the Saudis to supply crude. And so they do. Some. They formerly burnt crude to generate electricity. Now they export that crude and have replaced it with refined product from Russia to produce their electricity.

Easily solved, a bit of "Saudi has weapons of mass destruction", a few aircraft carriers and cruise missiles. Job sorted.

Sounds like Microsoft will be the next big tech company with a large number of layoffs tomorrow. Talk of it being around 11,000 or so.

Big tech continues to slide.

EUs CPIs and inflation down for the 2nd month now, it was only a matter of time before the insanely high price points through the EU economy had to crumble. January will see this continue for 3 months in a row. Its also notable that construction output within the EU has also fallen as people cant afford what construction companies are asking for. Throw in 11k people being let go from Microsoft. 2023 is going to be very bumpy.

Part of my install includes 20kWh of storage. My last bill was 62 units day and 1750 units night, at 7c/kwh night Fixed rate till july. But other than that, the solar array will not only cover 8-9 months of use 100%, I'll also export and get paid for that too. Possibly never having an electric bill again. Going way OT here but I didnt want to leave that comment of yours unchecked.

What we need is our energy bills to reflect the big falls in energy. It's ok saying energy fell x % in November and 6.8% in December but nothing has changed because all the other items have risen in December so it will be worse still.

These companies are very quick to raise prices when energy goes up but fall asleep when it goes down a lot.

You are right but energy is a big part of that inflation number. Everything else apart from energy has gone up in the month but our energy bills are still the same not cheaper.

So when those reductions are passed on to consumers and businesses, then everyone will see a massive improvement in the pocket because energy is the main driver of inflation because it effects everything. The sooner that happens the better for everyone.

They are really going hard into AI as well.

Agreed, AI does stand to really change a lot for employers and employees. For a company like Microsoft put its cards on the table like that as well show how the larger companies in tech could be leaning.

One industry that really is on the line is haulage. Automated vehicles (taxis, trucks, trains, drones) stands to put so many people out of work.

Amazon with 18,000 more layoffs today...that is 18x the size of the company I currently work for alone.