This Is What the Collapse Looks Like
Source: YouTube · Eurodollar University · published Jun 10, 2025 · 20:50
Global deflationary symptoms are emerging worldwide, with labor markets deteriorating and prices falling in multiple countries, forcing central banks to cut rates despite their preference to focus on inflation 0:00-0:11.
Key Takeaways:
• The global economy is experiencing the opposite of the supply shock - too much supply but not enough demand, leading to job losses and price declines 0:45-1:01
• The UK reported 227,500 jobs lost over four months (February through May), with seven consecutive monthly payroll declines 1:59-2:34
• Canada's unemployment rate reached 7%, the highest since 2016, with virtually no employment growth since January 8:12-8:26
• China is experiencing both consumer and producer price deflation, reflecting the global oversupply situation 11:21-11:38
• The US shows similar deterioration with 400,000 jobs lost in the first five months of 2025 and an adjusted unemployment rate of 4.9% 18:00-18:24
Central banks focus on inflation psychology while economies deteriorate, cutting rates in response to weakening labor markets and deflationary pressures.
Sources:
- 0:00-0:11 Introduction to global deflationary symptoms
- 0:45-1:01 Explanation of supply shock reversal
- 1:59-2:34 UK employment data
- 8:12-8:26 Canada's unemployment rate
- 11:21-11:38 China's price deflation
- 18:00-18:24 US labor market deterioration
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First 800 characters of the transcript
Deflationary symptoms like labor market breakdowns are showing up in more and more places around the world, matching the increasing frequency and aggressiveness of central bank rate cuts intended to meet them. Just today, the UK reported a nasty further drop in employment. Over in Canada, the country said the unemployment rate rose to 7%, its highest outside of 2020, since the middle of 2016. And that's not all. In addition to employment woes, we're also getting outright and accelerating price declines in places like Switzerland and now China, where both consumer and producer prices are declining since that's the only other option for a world where demand just isn't there for supply. We are at the inverse of the supply shock. Back then, there was too much demand for limited supply, so pric…