2023 recession

Although the title of this blog suggests economics, in fact it's far more about international relations. 

However, I do find myself remembering how the "subprime crisis" of failing home loans in 2006 was simply a prelude to the "global financial crisis" of 2008 - and wondering if the crypto crash of 2022 is also just a prelude to a world recession of 2023. 

The shares of tech companies have been losing trillions of dollars in value since their late-pandemic highs of mid-2021. Some well-known crypto skeptics say "Crypto as a whole has been bankrupt since May". (That may be when FTX sister company Alameda started using FTX customer funds to pay their bills.) The possibility of recessions in Europe and China (and thus reduced demand) is already keeping oil prices down a little. 

We'll see if they come up with anything helpful at the G-20 summit.