Global Inflation becomes Unsustainable
Financial Event
As a result of unsustainable Geopolitical moves by multiple parties, Oil prices climb unsustainably which inflates the prices of all goods. In the US, Bread costs 5 Dollars for a single loaf of white bread. Nuking the economic viability of millions and drastically destabilising the already fragile Political climate.
The IMF Bank had multiple countries default on its loans and rather than supporting struggling countries, the IMF strangled those that were left for any money they had left. As a result the EU withdraws all support from the IMF.
The Situation at the UN worsens as more and more disputes choke the International forum, with no party coming to a conclusion about anything. A lot of nations begin to wonder if it was better for them to go their own way and take what they need instead of waiting for the wheels of bureaucracy to catch up.
Global inflation rates by 2023 reached 14.7% as opposed to our world's 6.6% in 2023. Millions fell under the poverty line and a lack of fiscal responsibility was only making it worse. Due to Shortages in monetary resources.
The US Budget for 2023 cut Social Service spending by 4 times despite what POTUS had desired. The Move devastated the popularity of the US President. In Russia strict price controls were enacted which damaged the Russian economy but preserved the standard of living, boosting Putin's popularity.
