ECB warns of 1920s-like pressures; global currencies devalue against gold, fueling crisis.

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Christine Lagarde, the President of the European Central Bank, has indeed warned that the global economy is facing pressures reminiscent of the 1920s. She highlighted several factors contributing to this situation, including the aftermath of the COVID-19 pandemic, ongoing geopolitical tensions, and rapid technological advancements reshaping industries.

These pressures are similar to those experienced in the 1920s, which were marked by significant economic and social changes following World War I.

https://www.exness.global/blog/ecb-global-economy-1920s/

The University of Michigan’s Surveys of Consumers data indicate that consumer sentiment regarding home and auto buying conditions has deteriorated significantly. According to the latest data, the buying conditions for homes and vehicles are indeed at some of the lowest levels seen in decades.

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This decline in consumer sentiment can be attributed to several factors, including high interest rates, inflation, and economic uncertainty. While some analysts and policymakers may argue that the economy is resilient, the data on consumer behavior suggests that many people are feeling the pinch and are hesitant to make large purchases.

https://data.sca.isr.umich.edu/get-special-chart.php?n=75634&f=pdf&k=2964026ba160905e9a2348c3d593deb8cfb3f60fc90518ce394d4ee1a732f7c8

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