Topic: Bad economy is not good for either super rich or very rich (Read 396 times)

Unfortunately those conditions are created by the mismanagement of the governments around the world, every single country has some resources they can use to their advantage and increase the wealth of their citizens, but when those resources are used not with the goal of helping the population but to help a bunch of politicians and rich people that is when we begin to see economic problems in many countries, and when we add the pandemic and how much money was printed because of it then it is not really a surprise to see so many people suffering due to the bad decisions governments have taken during the last years.

We have seen many ups and downs in recent years. Everyone knows that in bad years it is difficult to be afloat, to do your own business. Even if you have a lot of money, it is difficult to survive in bad times. This applies to the rich and the super rich. The ability to find the right solution and choose the right course in difficult times can save. And it doesn't matter how rich you are.

Bad is economy is bad economy. So it is bad to both rich and poor. But bad economy to the poor means there's no food on the table while bad economy for the rich means a huge property in Paris could be sold. And even in the worst economy, there's a rich man taking advantage and getting richer.

Anyway, forget about governments using USDT or USDC or any other stablecoin. First, these are privately-owned coins; the governments won't like it because they are not under their sole control. Second, these are pegged on the value of USD. A bad economy could mean a weakened USD and, therefore, a weakened USDT or USDC.

A bad economy can lead to so many bad vices in the society or country at large. The poor and middle class tend to do unbearable things just to survive in a hardship situation. A bad economy leads people to kidnap, armed robbery, prostitutes and defraud. They are not doing it with a good mind, just that the economy of the country pushes them to be bad

The economy is critical for the continuation of many social relations activities, as well as providing a motivating foundation for more progressive development.But I see the problem as this: when we have not given up greed, control, and inequality in society, it seems this is not a favorable time for business. However, your resilience over a period like this can give you the credibility you'll enjoy in a decade. Inflation is inevitable for any country. Once steady states are reached, there will be instability, and the poor will get poorer again, and the rich will continue to get rich. We may not yet accept that fact, but it is still happening. Those who adapt to the changing times will continue, and those who do not will be left behind. It can be seen as a purification, very bad as well as very good, depending on each of us.

Let's take an example like the covid pandemic here where many people have economic difficulties, and many companies fire their employees, but new rich people appear whose wealth has skyrocketed. On the other hand, for those who have money, they are playing with the price of necessities for Covid at that time. such as hand sanitizer, marker, etc. so they actually make the poor people suffer even more

I don't think the super rich will suffer from a bad economy. They make the economy bad for their own benefit. For them it's just a game. They control the fate of people and they are not worried that it is hard for someone to live now, from these actions they become even richer. This is a game for them with big stakes and big profits. For these people, there is nothing but money.

at least the more broad-minded rich can still move even if inflation continues to climb. even if their business goes bankrupt they can still work hard and many people don't have a hard time getting back to being successful again. In contrast to the poor, many of whom have a limited mindset, when the economy is bad they can only think about how to stay alive, as if there is no way to live a better life than today.

I think it is bad to all, it is called bad because it has no good effect to people bad economy can affect all people even a simple or poor person will also become affected, because if the economy is bad there is a possibility that the basic needs price rise and the poor will suffer and also the people that has a minimum wages will also affected. Because most of the rich people who owns big company will sure reduced the minimum wages.

It’s does affect most of the rich. Most businesses and real estate is owned by the rich. If there is a recession then they will get less sales and make less money. Some might lose their job and not be able to pay rent. This is not a good situation.

Only people that might benefit are those funds which shorted the top of the stock market and bought everything back very cheap and entered a long position. However this is a small amount of the rich population. Those with business interests will do poorly in a recession.

Anything that is bad will definitely affect everyone. The super rich is always affected but to what level compared to the poor?
Compared to the poor, they are not even affected.
The rich is affected much in bad economy in the aspect of security. But then they can relocate at anytime and still live big in their new country or residence.
Then, it is the poor that is vulnerable in the bad economy. Inflation affects the poor, security affects the poor, government policies on SME business affect the poor aswel.

Anyone who is rich would be mindful of their movements at a time when the economy is really bad and crime rate is high because they know for sure that they would be target. In my country there are some rich people who live abroad in countries where it is safe for them and they never want to return back to the country because they feel that things are not safe for them since the economy is bad and they think that they might be main targets since they are rich.

But, both the rich and the poor are equally affected, because when those who commits those crimes don’t get to see the rich to feed on, they will jump on the poor next and collect whatever little that they have.

Yeah that’s right, but sometimes the government are reluctant of performing their duties very well and that leads to citizens facing the consequences. It’s also very important that the head of states work on the level of security in their country and assure the citizens that they are safe no matter what.

Law enforcement agencies should be urged to carry out their duties in ensuring the safety of people and properties. And again the government should always make sure that the economy is running smooth, and citizens should as well do their best to urge their leaders into doing what is right.

Bad economy is not good to all not only for super rich or very rich people around the globe, because we can all become affected with the bad economy, i believe that even children or the aged persons will suffer also the effect of bad economy it will reflect us all super rich and very rich will always stands up after bad economy happen while ordinary people takes a lot of time to stand up again one example of the bad economy is when we experience the pandemic.

my country has even been doing this since mid-2021, to avoid severe inflation that occurred due to the global crisis due to the pandemic.  now the war that is going on between russia and ukraine adds to the burden of many countries, many even increase taxes in their countries.  but for those who are rich, who already have a lot of savings can survive in very bad conditions.

I think, you must be care about the bad economy if you are a rich man because bad economy affect both Rich men and poor men in the country. Even though you give people loan for a huge amount of interest, they will find it difficult to return the capital and the interest because of the bad economy that is happening around their country. Where there is a good economy both the rich men and poor men enjoy it, because they will find things easy to grow their businesses and families in the country.

Perhaps, it will depend on the government in managing their economy because if they can put the state budget in the right position, the economy will hopefully run well. It requires the integrity of every government employee in distributing the state budget so that no one will run out of budget or misstep. But indeed, the economy of a country is also related to conditions that occur in other countries so every country must have a reserve fund if a bad economy comes.

Of course no one will benefit from a bad economy either a poor or a rich people but I guess the corrupt government officials will make the best out of a bad economy. It is proven that bad economy will going to give negative income to the businesses either small or big industries because assets are being vandalize sometimes destroyed because of the kind of economy where security purposes didn't impose strictly. And not only rich people are afraid of losing assets or properties but poor people are also afraid because they are already lack in good quality of life the threat but also the rights to live in a peaceful environment were not possible.

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

In many countries where riots took place, they were accompanied by vandalism, such actions are dispersed very quickly, but what if they are large-scale? I think then the really very rich can lose their property. These riots often occur because the standard of living is very low.

I think a bad economy is something that the very rich are afraid of, when there is a bad economy, it is prone to riots so that their wealth can drop or even disappear, many very rich people have immovable assets such as land, factories, apartments and so on, when there is a bad economy then purchasing power decreases so this is what is very feared.

This happens because the super-rich have the power to monopolize the vital economic areas of the country, where they can tamper with their income by selling their products, so that in a hyper-inflationary situation they can still make a profit. plus of course they have power in the country with the money. while the poor and middle class seem helpless, it is also possible that they can buy government regulations so that only some parties benefit, things like this often happen in poor or developing countries

What happens is that even if everyone is affected by hyperinflation the effects are different depending on your wealth level, the poor become even poorer as they can hardly afford food and other basic necessities, the middle class which is heavily indebted suffers as they lose their homes, their jobs, keep their debts and they can hardly afford food either, so in my opinion they are the hardest hit, while the rich lose a great deal of their paper wealth, but they can still retain or even increase their wealth in hard assets, and if they make the right moves they can even thrive under those difficult circumstances, making the rich richer and the poor poorer.

Recessions are not good for anyone. The poor and middle class will suffer the most and the rich will suffer because their businesses will make less money and they will make less money as a result.

The rich are obviously safer because they got more savings rather than some middle class person working pay check to pay check who loses their job. However we all suffer as a result.

However right now with the way how inflation is going crazy there isn’t much that central banks can do. They need to raise interest rates to control inflation. If they don’t it’ll get much worse in the near term.

To have a good or bad economy, I think it's depends on the government on how they will manage the economy and get solution to avoid a bad economy because whether good or bad economy everyone will be affected. It will affect to the businesses of the rich people and also affect the daily living of the poor and the middle class. While the government think for the better economy, we as people and community should also strive to have a good life and do a legal works to earn money.

This is something I talked about before in the money printing period. There were a lot of people who said that money printing only helps the rich people, and I said it was the other way around, it helps the poor a lot more.

Why? Because the rich managed to build a wealth, and their wealth became nothing when the inflation and money printing happened, whereas that printed money went to people instead and even though most didn't make any money and barely paid their survival with it, that basically means that at least they got something. So, what wealthy people got was the main cause for their wealth to worth a lot less than what it used to worth.

Think a bit personal when you can only do so within your ability. An unstable economy is something no one wants right now, but think more positively to look forward to a good future. We all want to be rich and pursue our own goals. When you know how to be satisfied with what you have, even if it's not a life of luxury or a life of poverty, they are all your life. Helping each other towards a better future is not just for personal gain. If you think only of yourself, you are like those who want to dominate and control for themselves.

Doing something wrong like committing a crime only to feed yourself or your family is not right. There are so many ways to earn money, why will someone choose that path. Rich or very rich people usually run a business and they can get affected because they can get less customers whenever there's a problem with the economy.

To have a good or bad economy is I think starts with the government if how the government runs their own country but we shouldn't put all the blame on them. We people must do something in order to improve our lives like we can save some of our earnings but before that, we should not be lazy and do a legal work to earn money.

lol...it base on the height of your richness, probably inflation is negative condition that the welfare of contry, so when it happened to a country i think everyone suffer it and it doesn't give any vital room or create any space for the rich to get richer, expecting it's a condition where by a government arms actually contributes ninety percent (90) of the inflation in order to punish the massive, actually normal inflation always affect everyone dwelling in such society or geographical environment

If you are the rich man,you are good by paying taxes.Incase you skip for the sake of taxes.You are not the good person to percentage.At the bad economy the person who had huge money also accepted to pay for the food.If you help the poor at food sense,you may look like a good person.But it’s not a correct one.For this,you may pay the taxes,government will look many person.

Bad economy brings negative impact to everyone, but mostly the poorest people are the most affected. It will make their life's situations worst that will lead them to extreme poverty and hunger. This is why when candidates run in the election, they always promise the poor people to bring good economy, of course the poor ones stick to it and vote for them. But as always, promises have gone totally when the election ends.

It matters to me when I am rich and while the economy is in bad shape. Remember the poor are the workers, they are many than the rich people. If they won't work who will? It is a balance, the rich must support the poor and help them out even a little. If poverty is getting worst in the country, all of the people will suffer including the rich. Maybe not in financial matters but, crime rates will increase, illicit activities, riots and rallies. The people will oppose somewhere and I won't be relaxing at those times as it will also affect my daily living, with danger in the society. Well the case is different when you are a foreigner from a rich country, which you could go home anytime you like if things gets worst in a place where you are doing business. We just need to be human in times of hardship, we are dependent on each other in some ways.

If I am rich then why do I care about the economy is bad or not! I absolutely don't care and if I already have wealth then I can make more wealth through smart investment. In a bad economic condition poor and middle class people need money for food and run business. I can give them money as a loan and charge interest. There are many other ways too.

Actually in capitalism rich become richer no matter what the economic condition is.

In a bad economy the rich will stay rich and the poor will be pulled down more.
Hunger will come so how could you relax if the people you are with have empty stomachs? Will they even feel safe knowing nothing about what lies in the future of their country or for them?
Business owners who are mostly the upper class can adjust their sales if an inflation happens. Then, merchants will need some profits, an item will be inflated once again. While a working class or the consumers will have to wait for months or worse, years waiting for an increase to equal the need of the inflation happening. That explains it.

In any possible economic conditions.  The most difficult are still the poor.  For example, during the peak of inflation, the poor could not own any land and they had to come to terms with that bad economic trend.  As for the rich - they own or attach available resources to further create the basis for making money.  So I agree with the OP that a bad economy leads to a chain of effects, potentially abusive behavior for the benefit that continues in the end only the poor are left alone.  Lol

We dont need to search for examples look at the san fansisco look at the crime rates.
If soceity dont change we will see more like this
Who would tought city like san fransisco becomes like this ...?? So if the current capitalism way contiunes we all need to have guns in homes.

If we ever come towards a society where everybody needs a gun to protect his family and personal belongings than we are doomed. Without a law everyone can trust in, a country will collapse. First of all in such a world nobody would be using banks anymore, large amounts of cash will be stored at home and the financial system will go bankrupt. After that transactions will only happen between two people individually and no taxes are going to be paid. Why would anybody give money to the government if they can't guarantee laws and safety for its people. Once the government runs out of money the whole administration will stop working and military will likely riot. Eventually there will be a civil war where small local groups fight against each other.

When the economy is bad, the poor ones are the ones who suffer the most from it. The rich ones will be able to go through it because they're already rich and they have what it takes to keep going when the economy is bad.

But for the poor people, they do not have anything at all and when food starts getting costly and they have nothing to rely on to get income and take care of themselves and their family, some of them might choose to do something wrong just because they want to get that money and take care of themselves and feed. So, it is usually difficult for everyone and just like you said, it’s also difficult for the rich, but the poor ones suffer the most.

Bad economy is  never good  for  the poor or  the rich, bad economy  will always  bring any categories of individual.  I have  seen top rich men in the  world  but when  ever their countries economy have some challenges their wealth rating drops. One may have  so many  properties to sell out in economic crisis and if the economy continues to face such challenges it maybe  difficult to  meet up how buoyant one used to be like before.

It's hard to comprehend when you don't have access to that level of money, but the richest among us are making big money through good or bad times. In fact they have to be overspenders or follow extremely bad advice to have their wealth threatened at any time. Once you get to the level of let's say $10 million, probably less, provided you live a lifestyle within your means - it's extremely possible to never have to work a day in your life and you'll have a steady income even through the roughest recessions. People with the level of wealth have large chunks invested in the stock market, yes it goes down during bad times but there are still companies making money and paying it out to shareholders, if you're well diversified that income is enough to sustain you.

What you said I agree because basically when the economic crisis occurs not only the poor will be affected but the rich will also be affected,
The problem of the economic crisis does not look at a person's economic status,
related to the problem above, currently in my country the price of food has increased a lot and the worst thing is the price of oil so that it also has an impact on other things

The rich will always have a way to survive. A rich person that is doing business and things happens to become costly, they would always have money to invest in their business and within a short time they will cover up all they have lost. But that is hardly the same for someone who is in the mid class or the lower class.

It will always be difficult for them and they might not have enough money to boost their business and keep it moving when the conditions are bad. It’s all going to be so much struggle for them to survive.

But why you had not mentioned about the middle class and poor people in the list.The economic crisis will affect all the portions of society,when the price of food item increased due the economic crisis.Rich will hard to buy it,but the poor will not buy it.Because they won’t had anything to buy,they will not eat for some days.But for rich,the money their holding will only reduced.

This title confuses me, although the rest of the writing doesn't make much sense either... I mean what to say after:


Although it's not well written, I understood what the OP wants to say, but if they are not well-positioned, then who is? Maybe some poor and thirsty people who have nothing because of the crazy wars that these rich people started?!

The system is simple, it's a game that never stops, but the players change! There is an old proverb in my area "Until one doesn't see dark the other can't see the dawn"! It says it all, while some lose others gain, you either adapt to new circumstances, survive and create even more or you lose and you make space for others! And don't worry, someone else will fill the gap pretty quickly!

And this sounds contradictory! Security in the unfair system is possible only for those who sell their ass to the ruling party, for those who are ready to close their eyes and not see all the evil just to be good to them! I know that from experience...

Totally agree with your point.  However, I think in an economy that is depressed and bad because inflation is like a disease, where everyone has to suffer, but that's also the reason why I think the line between rich and poor is increasing day by day.  The more disparity, is also an opportunity for the rich - to become richer.  poor become poorer.  Everything in this period is just a pollution to the wretched

Let's talk about the reason for some bad economy as well:

1. When we talk about COVID, the economy crashed which does gave a profitable industry for the people dealing in Pharma and also Medical sector as well.

I think we all remember how people sold masks for not only 5$ but for 10$ as well during the start of the pandemic.

This goes to shows how the reason for the crashing economy can somehow be related to certain industries profiting from it as well.

We are talking about how it might not be good for the poor or the rich but at the same time I do think that it might be profitable for the target industry.

Inflation does not affect the rich millionaires much because they are still involved in the markets deeply essential for everyone which would not shut down ofcourse and people would have to find a way to get through it. Rich would and might loose a bit of their money but it would not affect their overall condition which can very easily be okay after the crash is gone.

If we only talk about the inflation the rich doesn't get affected as much as the middle class people does because their assets are going to give the returns due to the inflation so they can compensate whatever they lose but what about other people? Where they will go to make money to buy things for their survival and at worst case the government will be dismantled and someone will capture it democratic or in dictator way but rich people don't let that happen.

Many rich and powerful today have fortified underground bunkers to retreat to in the event of an emergency. They can collect their families and travel to these bunkers quickly via their own private helicopters or jets. They have stockpiles of food and creature comforts to wait out some types of crisis.

The biggest fear for the rich and powerful has to be looting by armies like russia's or organized crime. Having amassed considerable wealth could make them a target and placed unwanted attention on their heads. Many wealthy mansions were looted during World War II and other crisis. They are prime targets of rampaging armies and organized criminal factions when order and civilization break down.

I guess the real question is, whether order and civilization would return in the event it was ever lost. How long would it take. What format would post crisis civilization resemble.

The issue with crisis and war is it could easily spiral out of control, to a point where the outcome became entirely unpredictable and uncontrollable. If communists ever take over the world, I would hope for it to be a relatively clean and orderly transition that was humane and clean. Rather than an ugly business where considerable life and destruction of properly occurred. Maybe there is no former option, but I can dream.

I won't do that. Although I know that a lot have been doing that in other countries by having their own firearms. I don't have it on my plan. I've got a friend in the states who have already purchased himself a gun and I understand his reasoning because it's common there.
But in my place, it's not so whether there is a good or bad economy, I wouldn't do that, and I have my other ways of protecting myself and I don't really have to do that although having a bad economy is what I don't desire. If we can choose to survive, well, that's for the better economy.

That's very much obvious that a bad economic situation is bad for anyone and doesn't matter if the person is rich or poor or in the middle level, in any situation if the inflation rises in the world, a poor person how already had no money will have extra problems because they already had bad situations and some problem while by increasing the infraction rate the person will have more issues, but for rich people, they will lose the money had have and the value of their money will be deceased so they will have some problems as well.

Bad economy is worse off because the situation will deteriorate the more and the poor people living there will suffer more. However no type economy is good for bad decision or policy aa it will not take people out of poverty line but to bring them into more poverty. The reason for bad economy is bad policy from the government. Poor people have limited resources for themselves and family but if the situation becomes worse then the extended families may be cut off.

Generally, if a country suffers from poor economic conditions, then being rich or being poor is of irrelevant matter as everyone is indeed affected in this issue. Like what has been mentioned, it is a matter of the degree of its impact on the people. Unfortunately, mostly people who are living from the average median household to the poverty line would feel the effects more compared to the rich people.

The difference is that, rich people have the security in case of poor economic conditions. They have assets that can be used as a form of security/collateral in the event of an economic crash. Unlike poor people, what they only have are their monthly wages and a relatively small amount of assets.

I just read an article that talks about inflation and the current bad economy actually makes the rich richer,,,,, and this has a bad impact on those in the lower and middle economies

I tell you a surprise, bad economy is also not good for the poor nor for the middle class. Bad economy hits everyone, the only question is how hard. And in relative terms (not in absolute terms), the poor and the middle class always lose more than the rich when economy struggles. Therefore, I can only partially understand your argumentation.

Rich in usa not positioned good position.
As food shortages many people will go and take it from others and to keep law and order the govermemt and super elite should for their own good create system when even the hard times people who could be violant to others dont need to if you lock them up in prison then its even more expensive and need a lot resources.
Areas where is a lot gangs when things get bad its a matter of time when they hit to the so called " neigbhoods safe neighbourhoods"

Also economy dowturn as even many guys from the in the hood are stock market or crypto investors but when things turn bad on the markets they turn back to old ways becouse when you need food then you need food.
T be honest there is no jobs all over the world also

Now we know south france area is nice and rich wealthy live there but how safe it will be if economy situation and food shortages will turn to be more bad ?
The paris and middle of france is right there do the st tropez cannes area people have enough military police to protect them ?
Also in times like this how do you know that your own protector dont rob you ?
Not sure where is safe in those days but you better dont show off your wealth becouse times like this people can turn in grazy

This is no joke but there need to be solution asap fpr those who got no skills and they dont want any skills they are some business people influencers MLM marketers traders and investors if those people well beeing is o n the line then we see economy is about to go down.

And who will fix this ? Right if the super rich telling that we dont care but then how they can be sure in times like this their own bodyguards dont rob them ?
In the 90, many years ago we had the situation when protectors becomes the business owners ....and clearly we see the same patterns here if we add up here the current war situation then this all makes perfect sense yes we can live in dream and safe lifes...only until economy is not supported and central banks provide us with money to keep things on peace level.

Im sure they think about this matter i wouldt want to be in california or philadelphia in usa or anywhere in france where is a lot gangs

Now days your best assets becomes soon not btc not money not even food or skills but soon we will see your life will depend on if you got gun and team well its not all around the world but many places will be like that.

My advice to imf fed and central banks give people stock market support with REPO transactions like they did 2021 year  and let them earn thats the only way to avoid chaos
Let the skilled people work and earn taxes and dont worry about them they are not threat to the others they might complain but they just dont harm others but in usa look how many races look how many ghettos..and dont forget if economy down even dope business down so what is the plan of people in usa who might live next to the hoods to protect themselfes ? As we see if things turn bad nothing helps we only can maintane peace in the world if such things existing wich gives money to some people without working its might not sound fair but lets take it as payment for all our security.

So lets vote bring back the REPO support if the old usd fiat system not good the fed can start using USDC or USDT REPO system mint crypto and provide us the USDT backed by btc.

Yes it might sounds grazy but i rather live in safe world and i dont mind unfair system i prefer safety and relaxing and that happy people around me and safety

So idea i just said its only solution otherwise you better get friends and gun becouse everybody will protect themselfes first