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this post was submitted on 24 Jan 2024
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chapotraphouse
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What's gonna be the long term effect of this? Predictions?
price of consumer goods rise
if it escalates into something bigger, it might lead to the end of cheap consumer goods in the west
As if it hasn't, already...
Do you claim that the era of cheap consumer goods has already ended in the west? You really haven't experienced what expensive consumer goods feels like.
Tell me, what does it look like? (Srsly I don't understand)
Because the groceries here in Canada are damn expensive, compared to Dubai, U.A.E or Singapore, considering my migrant parents' salaries there must either be more larger, have better purchasing parity or both....
It looks like the cost of the latest iPhone or premium Android device being over half a years salary at minimum wage. Eating fast food becomes a luxury because it's expensive.
Hell yeah I'm gonna lose weight
I guess starving counts as losing weight too...
https://youtube.com/watch?v=f66GfsKPTUg
Luanda, Angola is what will happen when global supply chains collapse. KFC cannot be had for less than 20 US dollars. A pint of Haagen-Dazs costs 17 US dollars. This is what will become of imported consumer goods once global supply chains collapse.
Consider that in the USA even poor people drive cars. Do you think that poor people in all countries can afford to drive cars? In many places, a Toyota Camry is considered a luxury item.
Oh, looks like the collapse is already here in Australia then. KFC is expensive as fuck over here.
20 US dollars is quite a bit more when you view it from the perspective of an Angolan salary, rather than a western salary. But I do reckon we are in the early stages of a global supply chain collapse.
Yeah, I was mostly joking, but inflation has increased a lot lately, people can afford less and less these days, rent's going up, bills are going up, cost of living is going up. I've been used to not being able to afford much my entire adult life, but quite a few of my friends are finding out that "living within their means" has quite a bit less spending than it did a few years ago.
Good thing Israel can fix this overnight if it wants to.
Unfortunately, Israel cannot fix the Panama Canal drought overnight if it wants to.
Panama Canal traffic cut by more than a third because of drought
The entire world really is turning into Guatemala lol This is pretty close to how we live as well. It sucks.
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
We're gonna learn the difference between greed expensive and "oh shit we can't import the production of our abroad slaves" expensive
Prices + unemployment ๐ -> people won't make enough money to buy stuff other than maybe food -> companies can't pay off their debts or sustain their inflated production, feeding into a feedback loop of higher prices and unemployment -> no more credit from the banks, as they know they won't get paid back -> companies won't be opened anymore, trying to expand will become impossible, global monopolies will take over the production vacuum and become even stronger, dragging the world deeper into imperialism.
You know, ye olde capitalist crisis.
Read Marx
Have we considered what this feedback loop will do in China? All of those consumer goods are produced there.
I have no idea, since they can be more or less hands-on with their economy as they need. Maybe their industry would need an even more developed third world to make up for the lost consumption in the west, but now I'm just guessing
Edit: enter BRI
In the very long run, it probably ends with the west becoming "colonized" by more productive economies. Being the imperial core takes the heaviest toll on you, and Lenin noticed that over 100 years ago
Sisi uturn on some policies as all that tax revenue dries up, hoping to end the reason for Ansarallah's actions and get the ships flowing again.
i mean i hope it's helping handicap the israeli war effort and they'll face defeat on the battlefield--but i think the west can probably cope for an unfortunately long while