The Global Economic Slowdown Is Here - What's Happening

"as of today in the United States the economy is still strong and the American Consumer is still spending even if it means they're spending money that they don't have"

"well by the time 2023 came around sustaining that type of spending in the United Kingdom became even more tough because now you have the cumulative effect of the high inflation which means that now people have to spend even more money to pay for the necessary expenses like groceries and their rent and then on top of that you have the impacts of the higher interest rates now sure there were some months and some seasons where spending was stronger than others but in general you started to see the spending slow down well towards the end of 2023 and into the beginning of 2024 before that pattern did not slow down it got worse and that's where you saw more Banks having to write off these bad loans these bad consumer debts because people weren't able to pay off their debts and that was about the time where it was declared that the United Kingdom is in a recession"

"but by 2023 the economic boom party started to cool down and you started to see more lenders in Japan start to write off bad debts because they were worried people were not going to be able to pay off their debts because of the higher spending due to the higher inflation and then of course came that breaking point where consumers were not able to keep up with a higher cost of living so they had to pull back on their spending and of course it was declared that Japan also entered a recession"

"we don't know when the next recession will happen in the United States but we know it will eventually happen"