u/ClandestineUnicorn

I found this prof. Michael Hudson and prof. Steve Keen discussion highly relevant for r/collapse:

https://michael-hudson.com/2026/03/inflation-first-deflation-next/

The core argument is that the next phase may not be “normal inflation” in the way mainstream economics frames it. Instead, we could see inflation in essentials: energy, food, fertilizer, transport, basic inputs, while the broader real economy experiences deflationary collapse.

In other words: oil, gas, fertilizer and critical inputs become more expensive, but households and firms become poorer, demand collapses, debt becomes harder to service, unemployment rises, and discretionary parts of the economy start breaking down.