It's been said for some time now that a recession is around the corner and it is just about to hit. There was definitely a post Covid boom, but with the Russian war on Ukraine that has thrown everything back out of order after two years of slow recovery. China is still attempting their crazy zero Covid experiment at the same time, which is really not helping the situation and can result in megasize cities going into lockdown overnight on a regular basis. That is simply unsustainable disruption to all kinds of supply chains, but maybe it'll change when dictator Xi Jinping has his little ceremony again this month. Hopefully Russia will simply leave Ukraine and thing can start to go back to normal soon, which might help stabilize the situation, but it feels like wishful thinking.
we are already in recession - everywhere there the business is collapsing and there is not stopping
Buying power of people has reduced - have you notice one thing that there is less rush on the roads because people are saving oil indirectly saving up their monthly funds.