The Recession We’ve Gotta Have!

Data today showed Germany went into recession earlier in the year, and yet the ECB is firmly backing more rate rises. And US recession expectations are still on the horizon, even if a bit later, as rate rises bite.

From New Zealand and beyond, recession is expected - and it seems unlikely Australia can resist. Are we facing a recession we have to have?

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[downtoearth]

Unless we learn that continuous growth is not actually a good thing our civilisation is condemned to extinction 😮

[charlesponzi]

House prices starting to fall here in The Netherlands.

[NoobTube]

In Australia people are still bullish on a lot of things. They seem to think the worst is behind as. Especially those asset rich. While the rest of the country feels the pinch from all over.

[becsterbrisbane]

Summed up in a highly technical way- we're fucked!

[dan]

Not only is a declining economy inevedible but there will be no long term recovery. The global economy and population have been in overshoot for several decades. The reason for global debt to be at 400%. Energy and materials are both past peak supply and in terminal decline, economists just don't have the insight or theory to understand. Without more than adequate supplies of both energy and materials there can be no economic growth. The future holds shortages of energy, materials and food, declining economic activity, and declining population. Economics: Supply will meet the demand that has the ability to pay. Who will have the ability to pay?

[AUThePunisher]

Available units in my area are skyrocketing to levels before rate hikes. Not only renters feeling the pinch.

[beesplaining]

Just one correction; the war in Ukraine didn't cause energy prices to soar, it was mostly as a result of the impact of western sanctions on Russia. They are two separate actions, one by Russia and the other by the West. The sabotage (by the US) of the Nordstream pipelines also had an impact.

[crazyham]

Keep up the great work.

I am surprised this channel doesn't get a lot more views.

[Siegetower]

Hello from Australia. My fixed rate period on investment mortgage expires soon. I looked at the online options for refixing, no way I'm going variable the rate is obscene. Called a broker then the bank to see if I could negotiate a lower rate. No way to lower the rate. The bank woman was fine, very efficient and helpful. She said frankly I should lock in the fixed rate I preferred as the rate could go up again "soon". Implied was that rates will keep rising, lock in the lowest rate I was offered. I locked it in ASAP. Interest rates will go higher. The Reserve Bank sits again next week doesn't it? Interest rates will rise again.

The US debt ceiling will rise, that's $4Trillion more printed currency to export inflation around the world.

[leannevitale]

Still spending like crazy here in Australia Martin, still can’t get anyone interested in renovating a house.

[berniestar]

If inflation is 7% and gdp is constant then people have purchased 7% less goods. If people purchased the same goods as the previous quarter GDP would have jumped 7%. Therefore the drop should be labelled as 7.5% drop

[downtoearth]

Untill the recession hits those at the higher end of society inflation will continue 😢

[kerrimackay]

Strangely all efforts so far enacted to control inflation have resulted in more inequality. No government suggests taking money away from the people who are currently profiting the most - the asset hoarders.

[leannevitale]

I look at the young generation, they all have beautiful nails, Botox, large lips, perfect eyebrows, not a wrinkle in sight not to mention all the other alterations made to somewhere on their body. If you saved all that money and the five or so dollars spent each day on coffee you may be able to save for a house.

[sonpollo]

Would be nice to know the inflation rates around the world.

[philmelb]

Recession only way to keep inflation back in control now with interest rates.

[philmelb]

Recessions are not a bad thing its just like a correction. Part of the economic cycle.

[smacktart]

How did the war in Ukraine cause Germany's recession?

[philmelb]

This is what happen when u dont increase wages enough for 20 years together with pressure of inflation and overheated housing market over the years. Debt with covid, supply chain disruption. The war in ukraine not effect that much. But a little.

[redsed]

Martin your not reading to a group of kindegarden kids! Please use a more manly voice!