Just because we are the ones witnessing and experiencing what the covid pandemic is causing, we feel it is so bad and terrible and this is the only bad thing we have ever experienced. But if you ask someone who has been through pandemics in the past or someone who has been through world wars or even revolutions to save their country from invaders. They will tell you that what is happening is insignificant and nothing compared to what they have been through before.
So it is not true to say that the world economy is getting worse. If we want to know whether the world is getting better or worse, let's ask people who have lived through different decades and stages of the world like our grandparents. Don't ask young people born and living in the modern world. We will have a clearer view of the world's development.
the difference in economic levels is felt, before and after Covid, the impact is still felt today, and so it is with the past where the economic level is different from now, something that is difficult to explain, because we do not know the economy of the past, it is necessary to ask people who are older than us.
The economy was still crap before covid but even though it was crap it was still relatively lively. When covid happened, the economy was stopped for like 2 years worldwide. The governments printed money so the people wouldn’t starve but the equation between the money supply and the supply of services and products got a lot worse in the end. The inflation went rampant. Then the FED decided to raise the interest rates to stop the inflation.
Now big companies are laying off workers, cancelling their future investments… and it is getting worse. It will get a lot worse.
What did we achieve in the end? We tried to fool the math and it seemed ti work for nearly 2 years or smth.
Stopping the economy during covid19 was a big mistake. You can thank the Biden administration for that. Trump called this mistake many times.
Now we are back to where we started, no we are probably in a worse shape than that.