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

Haulier cost will go up of course, which will impact all products.

On the other hand it will drive more businesses and individuals towards renewables to cut down dependence on imported fossil fuels, it might even spur domestic solar panel production.

When we moved into our cul de sac a few years ago only one house had panels, now about 40% of the street have them!

The longer this goes the greater the disruption to the global economy we may see, especially in Asia that is more reliant on middle east fuel.

Sri Lanka has introduced weekly fuel quotas, the Philippines and Vietnam have introduced a 4 day working week. Thailand has told professionals to work from home.

South Korea and Japan will start to hurt, even though they have diversified their gas (US is primary source), middle east is still a significant player.

All export driven economies.

China as usual is playing the long game. Its estimated that their strategic oil reserve could be as large as 12 months supply.

america does not have democracy, freedom and tolerance, ffs! young irish are more likely to move eastwards, as they have been for decades, if a recession does in fact occur

I've had lots of opportunities to move to the US. Much of my family are American. But plenty of aspects of US culture including the likes of their approach to healthcare and their political system means that I ultimately have no desire to move there. I'm pretty confident that I'm not alone in that assessment.

As of 2025, there were approximately 23.8 million millionaires in the United States, accounting for 41% of the world's total. And human rights, democracy there, while not perfect, is an awful lot better there than in many countries in the world. Show me a perfect country, ffs.

There are millions of Irish people / Irish heritage quite happy in the States, driving new cars, going to shopping malls often, eating out often, living the American dream. Was over there recently (thank God my Irish public service pension allows me to take 6 holidays a year) and the buzz in restaurants on a Monday evening was something else. Yes, I realise many people in America are not so fortunate and cannot take 6 foreign holidays a year. However, would you prefer to live in Pakistan or North Korea or Saudi Arabia or Nigeria or Bulgaria?

I love my 5 star hotel breaks in European cities like Madrid too, but the quality of life is not great there for many people. Average salaries in Spain are significantly lower than in the US, generally around €31,600 (approx. $34,000), whereas in the US average salaries often exceed $60,000–$70,000 depending on the state. Hence you tend to get a wider spread of locals there having luxury things like good cars, boats, memberships of golf clubs, nice housing etc.

You probably had a lot more money to travel and spend on a luxury lifestyle than the average Spanish resident though.

Weather is nice in Spain though, it is quite a nice place, I'll give you that.

I met thousands of Americans in five star hotels around the world. Even go down to Killarney, not too many Spanish people can afford to holiday there. Not surprising if there are 23.8 million millionaires in the United States ( 2025 figure) , accounting for 41% of the world's total. 

The salaries are massive in the US for a lot of jobs compared to Europe but there are also massive numbers of people in poverty and in very pooly paid employment.

For example a job that would have a salary around say 80k in an MNC in Ireland is probably a 200k job in the same company in many parts of the US. But someone working on min wage here in a restaurant earns a lot more than someone living of tips in a restaurant in the US.

A strange post. Ive met many wealthy people from many countries.

Plenty of millionaires in Spain as well im sure.

No idea what that has to do with the quality of life in either country though.

All those millions of Irish people who emigrated to the USA, they would have been better off migrating to Spain. Unemployment in Spain has exceeded 10% for nearly the whole time since 2008. The gross minimum wage in Spain is only €1,221 per month or 17,094 per year.

That is why you can go on your holidays to Spain and it not cost a fortune. I have met middle aged managers there on €22,000 per year. Who never have and never will be in Ireland, never mind the States. If you have a family and earn €22,000 a year, you will not save enough to bring them to Killarney anyway.

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And what is the average cost? You seem to be focusing all on income not expenditure. Also need to consider social security, health/education costs, crime figures etc.

If you want the highest standard of living you should not only consider the average income.

I have been to both countries, both very nice. I would rather live in Spain in the event I got a serious illness or was down in my luck with finances.

The US disposal income figure doesnt take into account medical or education costs. I dont believe in Spain you can become bankrupt if you get a longterm illness.