Topic: Are we headed to a nowhere economic direction ? (Read 918 times)

There are rapid changes the world has been witnessing since the financial crisis in 2008, which was evident in the social and political changes since 2010-2011 in many countries of the world almost simultaneously. The Corona crisis came to expose the impotence of the global system and move the world faster to form a new system capable of responding to the reality of a changing world.
Of course, there are aspects that always appear with every change, and not every change will inevitably be good at all levels. Inflation, deflation, and job losses, in addition to geopolitical tensions, are all manifestations of a changing economy and expressions of global economic development.

Although there are countries that have the worst downtime in their economies as we speak, the inflation rate in those countries has gone so bad compared to other countries that they still have some other quick means of surviving the harsh economy. In some first-world countries, it can be a bit better for some citizens because they can have some part-time job that allows them to combine up to two or three jobs at a time, but in some third-world countries, you will have to work 10 hours every day from Monday to Friday. Some private firms in my country will even operate on Saturday. As such, their staff works from Monday to Saturday and rests only on Sundays. It's not really easy for them, but just like you mentioned, if there are still any personal skills they can learn to help earn more funds for themselves, Some guys and ladies in my country are Into freelancing jobs online, which are not even interfering with their real jobs. Investing in crypto could also be considered a wise thing to do.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

I guess the economic situation is almost the same in all countries, just that some countries are underperforming compared to others when it comes to their economic growth. One thing that I have realized over the past year in my country about how the economy is underperforming is the aspect of price increases on both imported and exported products, which I believe is a result of a bad economy and the country's currency being devalued.
 
When it comes to banks giving a high interest rate, I have not really enjoyed that or noticed it over the past months or years. This could be as a result of me not always being able to allow my money to stay in my bank account for a long period of time, or maybe the interest rate is only applicable to those who run fixed deposits into their bank account.
 
But one question that I have always had in mind is this: how does a high interest rate on customer deposits help in the growth of an economy? When the bank is to be spending more on paying depositors profits, which if there is a huge deposit, will result in huge profit payouts every single period that could possibly affect an entire banking system, if a depositor happens to request a withdrawal all at once, won't the bank experience some sort of bankruptcy?
 
Or maybe the interest rate increase is also applicable to those individuals and institutions who are requesting loans from the bank; the higher they are asked to pay per loan, the higher they are asked to pay per loan, which could possibly be the same method used to calculate the user interest rate per deposit.

The big shocks that affect the whole world cannot go unnoticed, and the world economy is now going through very difficult times. Now it is difficult to say whether we are moving in the right direction or not, there is high inflation, they are trying to reduce it, some successfully, some not so much, however, global processes are also cyclical, and after a long period of development, the world economy is in decline. Nothing can grow all the time, recessions and corrections are phenomena that have always been present.

Your choice at this time is right because you have invested in the crypto world, although it is currently experiencing a decline but for the next few months everything will happen bull run as we expect and profits will definitely be felt, and now many rich people have switched to investing in crypto, gold and silver instead of storing their assets in banks with lower interest rates, So everyone does not want to have too much hope for increasingly troubling government regulations.

I've even started preparing since last year. Because the issue of recession has even been busy since last year. so I continue to make preparations quite well. I have even become accustomed to saving and spending more effectively. In fact, I started working on the side to supplement the income that I could save and invest.

My focus is still on helping the family and buying as much Real Estate as possible. and also invest in bitcoin gradually. I continued to make long-term plans and started to implement them slowly but consistently. I want my finances to remain strong even though the world's economic conditions are getting worse.

I don't think we are in the midst of a global economic crisis, but certainly there are countries where economic situation is not looking good, and if we are happen to be in those countries we have to act accordingly: we have to cut our expenses to save money for the necessities, we have to find additional sources of income and stuff like that. I think, there's nothing to be scared of. It's life, it has never been easy for most people, and yet people always, in any circumstances, were finding ways to live and to be happy, at least sometimes.

During harsh times it is especially important to not occupy ourselves with negative thoughts, the thoughts that  are imposed on us by propaganda of dictatorship regimes around the world. It benefits them to make us think
that the global economy is in deep crisis and  that we are heading towards the end of the world. It makes us cling to them dictators, the only "saviors".

In the face of this uncertain global economic challenge and with rising inflation I think it is very important for every individual to take proactive action to overcome this challenge.I think By exploring creative ways to maximize earning potential, embracing innovation each individual can adapt and be familiar with the current changing economic circumstances in an independent effort to reduce the impact of uncertainty and I think it's good not just say it but do it for ourselves first .

All analyzes indicate that the world after the Corona crisis is no longer the same as it was before it. Rapid changes in the global economy with new trends imposed a great change on the way of life in various societies, since we are in a globalized economy that affects each other. The current generation is witnessing the beginning of a change in the global system, and future generations will live a completely different reality than what we live in today.
The Ukrainian war proved great geopolitical changes and contributed to shaping the world as it is supposed to be after a global crisis that still exists.

There is no perfect economy. Every country has a version of their economic turmoil largely due to their policies and economic systems. For my country it aside from a couple of months ago when we experienced a s slight increase inflation rate, everything is almost back to normal now but we get one or two times when it is shaken aside that we are okay. From the forecast we expect to see a reduction in unemployment and some other things that would reduce the burden of taxes that small businesses have to pay.

Not everyone would agree with this statement. In different countries there many people that think that there used to be better times, and in the future even worse times are coming. But agree with you, I don't think we are going towards an impasse. With some temporal fluctuations, economy has been improving and every new crisis is overcome more quickly and with fewer losses.

Difficulties with economic development have been, are and will always be and in all countries. Trials come to the share of almost every generation and they need to be overcome. Despite this, it should be recognized that with each new generation the standard of living, and therefore the quality of life, is still improving. Therefore, I do not see any economic impasse. Hard times will pass and give way to development and prosperity, which will again be replaced by economic difficulties.

Not only in your country but in most of the developing countries people are currently facing this problem. Economic problems surround people from all sides. The government has increased the amount of VAT to improve economic conditions. Where earlier one had to pay one dollar of VAT to buy a product, now one has to pay about two dollars of VAT. Increase in the price of goods, increase in VAT, due to increase in these things, it is now very difficult to buy any product for any working middle class. Those who work may somehow manage their families but think about how those who work as day laborers or engage in other occupations manage their families. The government should not only focus on the improvement of its own economic system, but the government of every country should also focus on how the people of the country are living.

Recognising the vulnerability of our income stability in a world rife with economic uncertainties is a credit to our knowledge and resiliency. Although the general ambiguity can be frightening it is in these turbulent times that we find our inner strength and latent potential. By accepting this idea we turn an unsettling circumstance into a platform for personal development and monetary independence. Deep reflection a profound understanding of ourselves and a little bit of daring are required for this transforming journey. Nevertheless it is a noble endeavour that enables us to tap into our natural talents and abilities creating stable revenue streams that can withstand the ups and downs of a volatile global economy.

Recognizing the shaky global economy and its risk to our income stability is a sign of today's world. The ambiguity is worrisome, but it's in these times that we find our true strength.

The notion of tapping into our hidden potential as an antidote to financial instability is savvy. It turns an unsettling scenario into a launchpad for personal development and self-sufficiency, nudging us to employ our natural abilities to generate sturdy income streams resilient to economic fluctuations.

However, this is no easy feat. It requires introspection, self-knowledge, and a dash of courage. Yet, it's a praiseworthy approach, deserving pursuit in the face of our ever-changing global economy.

I understand your mood, but I see that is the general situation of the world, and one more thing, besides raising interest rates, I have not seen a better solution to fight inflation. I have also studied inflation, and even economists have not found a more effective solution than raising interest rates to control inflation.

This is a global situation that even developed countries cannot avoid. So instead of cursing and blaming the government, we should try to save ourselves because they will keep raising interest rates because that's the only solution.

Inflation is a very big problem that the world is facing currently. Somehow I feel it's worst in my country. Right now the inflation rate is above 30%. The worst part is, I don't see an improvement anytime soon.
The interest rate was increased last month from 18% to 18.50%. The increased interest rate just seems to make matters worst.
Higher interest rates are supposed to mean higher borrowing costs, which will make people spend less and thereby reduce inflation, but the reverse is the case in my country.
And knowing my country, the inflation rate will just keep increasing and the dullards at the central bank will just keep increasing interest rates without stopping to check if there are other things they can do to fight inflation.
It's frustrating and scary at the same time when you think about the fact that it can only get worst.

The problem with the global economy inbalances will have it consequences resulted on us if we are not taking personal and individuals moves and steps towards being independent of the economy system as controlled by the government and remain dependent on how we can source a sustainability out of it from our own end, the problem lies with us being too dependent on them, once they were affected then we are directly affected too, but when we begin to make some shift that could give us an upper edge against relying on government economy and we work on having our own personal sustainable development to run the economy and remain independable, we will definitely be less affected even when such occurrence is happening.

Even America that has the biggest economy has been on recession for since 2020 that I know

The world’s economy at large is still through post Covid effect so it’s normal for every country right now to experience an economic meltdown

I do not know the country you are, but in Nigeria, the minimum wage is just about $60/month, how can a man with family survive with that?

It’s that bad, every man has to find a means to survive outside of the government but investing in cryptos unfortunately might not be one of the recommended means

You are correct in stating that there are so many uncertainties about world economy that make it difficult to predict its future direction. However, it is important for us take proactive approach in various ways to exploit your full potential for generating income from multiple resource. For example, if you possess IT skills then find out projects online according to your skills and increase your earning by selling your services as freelancer.
It is equally important to continue upgrading your skill set level. This can potentially increase your income and make your more adaptable to the changes in the job market. In summary, to meet upcoming economic challenges, it is advisable to be proactive, creative, adaptable and open to new opportunities.