This take is everywhere online but I don't see a lot of evidence for why this historical moment is different from past moments.
Fear sells news and ads. You're the sucker buying it.
Fear sells news and ads. You're the sucker buying it.
And my bet is that during pandemic, government money printing, housing and stocks rising, this graph becomes 2 times more dramatic.
It is already very painful for large share of population, but they have no idea what to do with this.
Which isn't to say it's more painful to the wealthy, as they have the excess assets to buffer, but is to say that millionaires and billionaires don't have a magic "avoid recession impact" button.
That's if decrease is equal and linear for all verticals, which I don't believe is the case.
> billionaires don't have a magic "avoid recession impact" button.
They have many buttons: lots of intelligence which allows them to relocate assets before average folks, political lobbying which allows them to bailout troubled businesses in expense of national debt.
I honestly have no idea what the ripple effects of this war and recession will be.
I have never seen anything like that.
Edit: Okay from the summary it says...
"Russia accounts for about 10% of the global nickel supply, mainly for use in stainless steel and electric vehicle batteries. Nickel was already rallying before Russia’s invasion of Ukraine as robust demand from the stainless steel and battery industry drained inventories, which now stand at 76,830 tonnes in LME-registered warehouses, their lowest since 2019."
Still surprises me that the increase is so much higher than other metals.
It paused? lol https://tradingeconomics.com/commodity/nickel