October 6, 2022

Economic climate Sinking Into Worldwide Recession As FedEx Says Deliveries Slowing

The Western european energy crisis to also further destabilize a deterioration economy

The CEO of FedEx expects the world economy will soon enter a recession because you will find a slowdown of global deliveries.

Raj Subramaniam said FedEx has seen weekly declines within shipments since June.

“ We’re since volume decline in every segment around the world, and so you know, we now have just started our second quarter, ” he told CNBC. “ The weekly numbers are not looking so great, so we just assume at this stage that the economic conditions aren’t really good. ”

“ … We are a reflection of everybody else’s business, especially the high-value economy in the world. ”

Additionally , European countries are increasingly influenced by the US for energy, but US producers are getting close to maximum capacity.

“ It’s not like the US can pump a bunch a lot more. Our production is what it really is, ” Wil VanLoh, a top shale investor told  Financial Times .  

Other insiders said shale production can remain tight for a long time because of the lack of production growth, which usually of course will have a relaxing effect on the world economy.

“ There is NO backup energy resource for Europe; keep in mind that exist right now, ” wrote analyst Brandon Smith. “ They will try to buy up whatever coal, oil and gas they can find on the market while generating up prices even more to get other countries. ”

“ They will still come up short, which means people are going to freeze this wintertime. ”

Long-term, Russia and China are working closer together to become more economically independent from the rest of the world, which could finally finish the US dollar’s status since the world reserve currency.

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