One of the most fundamental virtuous cycles that created the industrial revolution was this:
Cheaper Energy -> Cheaper materials -> Cheaper equipment -> Even Cheaper Energy.
In other words, because there are cheaper forms of energy this has a knock on effect on the price of materials like Iron that require a lot of energy to produce, and that has a knock on effect on the price of equipment, and as the price of equipment reduces, it costs less to mine coal.
In a real economy there are enormous numbers of such virtuous, and even at the same time vicious cycles, but energy is such a key resource that this cycle tends to dominate.
But that in turn suggests the reverse cycle:
More expensive energy -> More expensive materials -> More expensive equipment -> Even more expensive energy.
Now, rather than an economy in a virtuous cycle and long term GDP growth, there now find an economy, which is in a vicious cycle and long term decline and GDP decline. In other words, the trend is that people can afford to buy less and less real goods with a day’s work.
For the last several hundred years, the western world has generally been in a virtuous cycle of growing GDP. Putin funded green groups then persuaded the arrogant morons of government to commit economic suicide. We are now entering a vicious cycle of decline … much to delight of Putin who is ensuring Russia continues to grow.
And that is how Russia won WWIII … by getting the west to attack itself.
