Do you feel that the global economy is declining?

Baki202

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Quote from: MissNonFall9 on June 13, 2024, 01:03:42 PM

A society cannot be judged by the information obtained from any one individual. Here it is completely impossible to assess the economic condition of the entire world based on one person's data. But it may be that the country where your friend lives may be a problem but I don't think it will have much effect on the world economy. But the whole world economy is very challenging to survive. Here the economy favors some countries and some individuals. The rich that is made is in the ongoing process and the poor remain poor.

It is true that it is not all information we belief but their is no smoke without fire even if what they said are not all true their is an atom of truth because people will not say what they don’t know. Every country that is not a producer but a country that is based on consumption. Their are things that affects the economy so it is better for the country to be a producer than been a consumer because it will even boost the economy of the country because if you look at a country like china they are more into production so they are able to balance things up from both side that is production and consumer. Countries needs strategies like this to be able to improve the economy of the country.

Awwal08

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Global economy is really declining, inflation as affect many people especially Nigeria citizens, the rising in prices of the commodities has pass my imagination, prices of commodities are rising higher and the salary is not enough to spend, in our economy now the amount of money you will use to buy food for a day is the same amount that you will use to buy food 10 days before, imagine a man that is from a family of 20 receive 80,000naira as salary per month, when a mudu of rice is N3,000, talk less of the ingredients, bills, fees, house rent, transport and soon, how many days will the family eat in a month, if the man only depend on the salary, if you calculate the salary or wages that some people receive in a month, it will not be enough for them to fulfill their one day responsibilities.

Government should be aware that a lot of people are suffering due to global economy decline, so I suggest that as the prices of the commodities increased, the salary should be increased higher, so that life of every citizen should be balance.

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Quote from: Abiky on June 10, 2024, 06:03:15 AM

Quote from: Essential10 on May 31, 2024, 01:16:07 PM

Personally I think the year 2024 may go through economic uncertainty. Currently, conflicts between different countries are increasing, and even wars are going on between some countries. But I think the biggest economic impact can be on the countries located in Europe. Due to the increase in oil prices due to the war in the Middle East, European countries are having to pay extra for their oil imports. In addition, the world's leading central banks have increased interest rates. The current situation will weaken the global economy, reduce inflation and increase unemployment.

With global conflicts, we can't expect things to get better anytime soon. I think the US is to blame for this. If it hadn't shown signs of weakness, Russia would've not invaded Ukraine nor Hamas would've attacked Israel. We are where we are because of the US' actions. At least, that's how I see it.

Now America must act to restore global peace before things spiral out of control. Would you imagine another conflict between two countries (China vs Taiwan) besides the ones taking place already? It will worsen inflation to a point where only the rich will be able to survive. It's a dark future out there, so we can only hope for the best. Sad

But why is the United States responsible for what is happening in the world? Are they messengers of world peace and responsible for world peace or are they the cause of all this? If you notice most countries in the world are falling into serious recession and inflation while the US economy is not as bad as other countries. Even their USD index is still very strong compared to other currencies, it's like they are looking to export inflation to the world rather than help the world.

Not to mention the war is going on in many different regions of the world but they are the ones who are providing the leading weapons, they are the ones who are gaining a lot of benefits from the war. Do you think they want the war to really stop?

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Quote from: Abiky on June 10, 2024, 06:03:15 AM

With global conflicts, we can't expect things to get better anytime soon. I think the US is to blame for this. If it hadn't shown signs of weakness, Russia would've not invaded Ukraine nor Hamas would've attacked Israel. We are where we are because of the US' actions. At least, that's how I see it.

Now America must act to restore global peace before things spiral out of control. Would you imagine another conflict between two countries (China vs Taiwan) besides the ones taking place already? It will worsen inflation to a point where only the rich will be able to survive. It's a dark future out there, so we can only hope for the best. Sad

I agree that the current not very good state of the world economy and the increased number of military conflicts in the world occurred precisely because of the weak position of the United States, which allowed this to happen.

Russia would not have launched a large-scale military invasion of Ukraine in 2022 if the United States and NATO countries had responded properly to Russia's military attacks on Georgia in 2008 and Ukraine in 2014. By invading neighboring states with tanks, Putin saw absolute passivity on the part of world powers, and above all the United States, and regarded this as a sign of weakness and encouragement to go further. Putin believed in his impunity, which led to the current situation with numerous military conflicts and we see that the situation, in fact, only continues to worsen.

MissNonFall9

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A society cannot be judged by the information obtained from any one individual. Here it is completely impossible to assess the economic condition of the entire world based on one person's data. But it may be that the country where your friend lives may be a problem but I don't think it will have much effect on the world economy. But the whole world economy is very challenging to survive. Here the economy favors some countries and some individuals. The rich that is made is in the ongoing process and the poor remain poor.

Abiky

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Quote from: Essential10 on May 31, 2024, 01:16:07 PM

Personally I think the year 2024 may go through economic uncertainty. Currently, conflicts between different countries are increasing, and even wars are going on between some countries. But I think the biggest economic impact can be on the countries located in Europe. Due to the increase in oil prices due to the war in the Middle East, European countries are having to pay extra for their oil imports. In addition, the world's leading central banks have increased interest rates. The current situation will weaken the global economy, reduce inflation and increase unemployment.

With global conflicts, we can't expect things to get better anytime soon. I think the US is to blame for this. If it hadn't shown signs of weakness, Russia would've not invaded Ukraine nor Hamas would've attacked Israel. We are where we are because of the US' actions. At least, that's how I see it.

Now America must act to restore global peace before things spiral out of control. Would you imagine another conflict between two countries (China vs Taiwan) besides the ones taking place already? It will worsen inflation to a point where only the rich will be able to survive. It's a dark future out there, so we can only hope for the best. Sad

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Quote from: Natalim on May 26, 2024, 04:45:55 PM

I don’t believe that an employee’s salary may decrease but it’s more on the rate will increase especially if you are doing excellent in your job title. Maybe you are trying to say that his salary now is likely struggling to cover all the bills and expenses due to rising prices of goods and services which I think is understandable due to rising inflation. Well, your friend is not alone, as I bet everyone here has experienced that. Having a side job is the key so that if your main job salary is not enough, you still have another job that you’ll expect to pay you.

People forget that when a countries economy is bad, it affect almost everything in that country and the prices of good go up making it difficult for one to be able to afford a living like they normally do when the economy was stable, maybe the economic situation in his country is bad and it's very obvious that his salary is struggling to cover up bills and expenses like you mentioned.

For instance the economic situation in my country have become so poor that most times an average citizen with just only one source of income could barely afford three square meal on a daily basis, the prices of foodstuff have trippled and therefore if one is not earning extra money or have a side hustle to cover up expenses then they'll be thinking just like the Op's friend that their salary is reducing.

But then having a side hustle is not a bad idea, I believe that's the best solution and what the OP should've suggested for his friend, atleast it would help cover up his expenses until things get better and even save for the future, normally i don't even expect anyone to depend on only one source of income, I bet if he had other sources of income he won't had even noticed that his salary is not enough to cover up his expenses.

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Quote from: oktana on June 07, 2024, 06:08:12 PM

Quote from: shanhaigamefi on April 18, 2024, 03:34:07 AM

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Salaries are meant to be higher as inflation increases, I’m not sure how exactly the government looks at it. However, I’m not sure of the possibility that you do a job today and then tomorrow, you get paid lower. Especially the fact you said 5 years ago. What is your colleague’s job description? Aren’t they getting better at the job too? Because with 5 years you should be better, and without considering inflation, being better would usually amount to getting paid higher.

Due to this high inflation and as things are happening around life is going to be challenging for the lower middle class and peoples living under poverty because they are losing hopes of survive and most of them are having no good solution in near future as well which is more problematic for them just because of this all crime ratio is also increasing in many countries which is another challenge for them and as we're having conflicts and threats of more wars look like no one is having solid solution of this all.
If we are not having positive solution then surely we will watch another disaster which could be created serious threat for the peace of the world, and we will be lost many things which are having good impact on life's right now.

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Quote from: shanhaigamefi on April 18, 2024, 03:34:07 AM

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Salaries are meant to be higher as inflation increases, I’m not sure how exactly the government looks at it. However, I’m not sure of the possibility that you do a job today and then tomorrow, you get paid lower. Especially the fact you said 5 years ago. What is your colleague’s job description? Aren’t they getting better at the job too? Because with 5 years you should be better, and without considering inflation, being better would usually amount to getting paid higher.

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Quote from: Adiljutt156 on June 07, 2024, 02:43:41 PM

I think Israel is the big reason of economic default globally because IMF is the holded by Israel and they are attacking on Phalasteen country,and they are murdering them because they are Muslims.

I don't want to be bias but it's not only them that are in a war. Let's just say that in general that these wars are the reasons for these global economies drop. The pandemic started everything when there were no work, no entertainment, no everything except for food, and health industry was there. They've been the industries that have bagged entirely world's wealth by that time. We are for peace and we're not for these wars, we don't like any further war because it means another series of decline, we can't bear it anymore and the startlers should stop it if they care for their own peace.

Quote from: Adiljutt156 on June 07, 2024, 02:43:41 PM

I think,most world economic powers like USA and Europe countries are silent because they want the same thing. They want to weak the Muslims.

It's not about the religion but I don't think that they're silent. They're even the one that keeps on spreading alliances in their nearest and farthest regions for their own sake and benefit.

Quote from: Adiljutt156 on June 07, 2024, 02:43:41 PM

The economy of USA is very strong because they always took step against their enemy. Japan stood against USA and USA collapsed Japan two countries. There is a game of power . Who has a stick ,the buffalo is of that . But that should be change and I think it will change in future.

AFAIK, in modern's time both USA and Japan are allies. But to say that economy of USA is strong, many might not agree to you. Their debt is ballooning and there's no way to stop it and that's why they're selling arms all over the world wherever the war might happen.

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Quote from: Essential10 on May 31, 2024, 01:16:07 PM

Personally I think the year 2024 may go through economic uncertainty. Currently, conflicts between different countries are increasing, and even wars are going on between some countries. But I think the biggest economic impact can be on the countries located in Europe. Due to the increase in oil prices due to the war in the Middle East, European countries are having to pay extra for their oil imports. In addition, the world's leading central banks have increased interest rates. The current situation will weaken the global economy, reduce inflation and increase unemployment.

I think Israel is the big reason of economic default globally because IMF is the holded by Israel and they are attacking on Phalasteen country,and they are murdering them because they are Muslims. I think,most world economic powers like USA and Europe countries are silent because they want the same thing. They want to weak the Muslims. The economy of USA is very strong because they always took step against their enemy. Japan stood against USA and USA collapsed Japan two countries. There is a game of power . Who has a stick ,the buffalo is of that . But that should be change and I think it will change in future.

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Quote from: siniminomorocomunisakito on May 29, 2024, 09:29:58 AM

I think for the salary as long as we work, the amount increases, only the value continues to shrink when we spend on daily necessities. Now it is normal for the lower middle class to spend one month at least if alone it is $ 300 and if you have a family it can reach $ 600-700 and that figure is the exchange rate in my country and has my own house

For other countries, of course, it is also different, there will be many needs that may be far different from where I live.

as happens year after year, price tend to rise continuously and it is difficult to return, with prices of commodities and services continuing to creep up and their value continues to shrink, now shop with the same amaunt figure but with few goods makes it a certainty that this is happening in currently purchasing power is no longer enough to facing the current economic situation by trying to overcome various methods to overcome all this, in this case the government has anticipated this but it needs a torequires a good process.

Essential10

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Personally I think the year 2024 may go through economic uncertainty. Currently, conflicts between different countries are increasing, and even wars are going on between some countries. But I think the biggest economic impact can be on the countries located in Europe. Due to the increase in oil prices due to the war in the Middle East, European countries are having to pay extra for their oil imports. In addition, the world's leading central banks have increased interest rates. The current situation will weaken the global economy, reduce inflation and increase unemployment.

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Quote from: Dunamisx on May 28, 2024, 01:01:40 AM

I will not say that the global economy is declining because we are having a continuous flow of developments everywhere and there is improved innovations in technology inventions, all these are what we should be considering to know whether we are having a continuous economic development or not, what i can only deduce is the increased rate of inflation instead which is what is affecting every local economy activities and individuals.

because the price of every item continues to increase until we feel that the global economy is declining, in this case we really have to be able to create the latest innovations so that we can always rely on technological competition and we can always balance our income to meet the current needs of life. competition is tough, and those of us who cannot develop our work will always feel pressured to find income to meet our daily needs.

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Quote from: Haunebu on May 31, 2024, 10:27:21 AM

Global economy has been declining for a long time now, but the rate of decline is not very fast which is the silver lining. This situation could reverse in the future, but that requires cooperation between all major powers across the world.

Unnecessary wars need to stop, annoying new viruses like COVID should not be born, all countries just work together to battle climate change etc for the situation to reverse.

unfortunately, this is not happening. there is even growing support for nuclear war which is the end of us all. there is no adult in the room that will make those leaders see they are heading to a full-blown war and not even a proxy anymore.

i guess the 3rd world country has been in this situation for a long time already and they are already used to poverty. i'm not sure how those rich countries will survive if they are in such condition that even their toilet paper is 2x its previous price.

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Quote from: jrrsparkles on May 31, 2024, 09:11:06 AM

We can't be sure how the future is going to be but this isn't a new problem this is something that exists all the time in our society but now it feels like we are reaching the threshold level of the gap between rich and poor but this is how they felt earlier too and crypto is not going to solve the issue but gave us a choice to escape from this trap or else no matter how hard we work there is never going to be enough.

The gap between rich people and poor people will always exist in society, because it is very difficult to eliminate, especially because the level of wealth of each person is always different so there are always poor people in society. And yes, I also see this as a problem that has existed for a long time in society which is very difficult to eradicate, unless everyone is willing to choose choices that make them happier even if they don't get rich straight away. For example, using crypto to support our own income in order to not feel too much of this gap in society.

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Global economy has been declining for a long time now, but the rate of decline is not very fast which is the silver lining. This situation could reverse in the future, but that requires cooperation between all major powers across the world.

Unnecessary wars need to stop, annoying new viruses like COVID should not be born, all countries just work together to battle climate change etc for the situation to reverse.

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Quote from: Abiky on May 31, 2024, 07:22:55 AM

Quote from: jrrsparkles on May 29, 2024, 09:45:15 AM

The salary didn't hiked according to the inflation rate that is why we are facing difficulty to meet the same needs even with higher salary. Let's say your salary is $100K per annum but it was $80K 5 years ago so now let's say you want to buy a house or an apartment that is now $1M which was probably around $500K means now you need to spend 10 years of your salary to buy the house but earlier you need only 6 years of your salary and this is happening ever since the fiat isn't backed by gold reserves.

Inflation is rising way faster than wage. Employers are being too greedy these days by laying off workers and paying less. It's this reason why the global economy is declining. Things will get even worse once AI takes over human jobs. That, combined with CBDCs, will rise poverty levels all the way to the moon.

I think it's already too late to fix the world. Not even Bitcoin can do anything about it. Who knows what the future holds for our society? Sad

We can't be sure how the future is going to be but this isn't a new problem this is something that exists all the time in our society but now it feels like we are reaching the threshold level of the gap between rich and poor but this is how they felt earlier too and crypto is not going to solve the issue but gave us a choice to escape from this trap or else no matter how hard we work there is never going to be enough.

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Quote from: Ever-young on May 31, 2024, 02:33:58 AM

Quote from: legendbtc on April 18, 2024, 05:17:02 AM

Quote

Do you feel that the global economy is declining?

It's not that the global economy is in recession, it's that this has been going on for hundreds of years, and has never stopped. I mean recessions will still happen even when we think we are living in prosperous economic times. Inflation will never stop because the government will always continue to print money and distribute it to the economy. But most don't realize and don't care about this until things get worse and more than they can bear. If there are no preventative measures or solutions for your economy, 5 years from now you will see it will be worse than it is now.

I totally agree with you, as far as the government are still in control of the major things we want in our lives, inflation will still be increasing daily, and the worst part is that, those people who complain most are the ones that is really supporting bad government when it comes to electing the new government without properly checking if they have the potential to be a good leader to his people before putting them to power, rather than putting them to power by what they said with their mouth because inflation is not something we can easily fight against instead we will adapt to it and try to work things right for our own benefits because the government can't really do enough for us because they also have families to counter for and leave the people to remain in suffering. So let's use our tongue and count our teeth.

You should not blame the people when the government does not do what they say, because what guarantee and certainty do you have that the person you elect will not become a bad president? Did you also know that politicians are the biggest liars in this world, no one can be trusted and do we have any other choice? Just like the upcoming US election and there are only two candidates, Trump and Biden, don't we have a third choice? No, and if you don't like both because you know both are unreliable but do you have a choice?

Additionally, although the government is responsible for inflation and they should find ways to stop it, stopping inflation is not as easy as we think.

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Quote from: Abiky on May 31, 2024, 07:22:55 AM

Quote from: jrrsparkles on May 29, 2024, 09:45:15 AM

The salary didn't hiked according to the inflation rate that is why we are facing difficulty to meet the same needs even with higher salary. Let's say your salary is $100K per annum but it was $80K 5 years ago so now let's say you want to buy a house or an apartment that is now $1M which was probably around $500K means now you need to spend 10 years of your salary to buy the house but earlier you need only 6 years of your salary and this is happening ever since the fiat isn't backed by gold reserves.

Inflation is rising way faster than wage. Employers are being too greedy these days by laying off workers and paying less. It's this reason why the global economy is declining. Things will get even worse once AI takes over human jobs. That, combined with CBDCs, will rise poverty levels all the way to the moon.

I think it's already too late to fix the world. Not even Bitcoin can do anything about it. Who knows what the future holds for our society? Sad

Inflation will be here for good and I don’t think we can still do something about it. I think the only thing we can do is to increase our job or find side hustles that will generate some profits for us, as relying on single job alone won’t work anymore. Even if there’s salary rate increase, but the prices of goods and services will increase as well, so it will still be a lot harder for us to make ends meet.

With regards to bitcoin, it won’t nothing to do with inflation, but if we can maximize our bitcoin investment, that would mean a great help for us when it comes to securing our finances, which other investments can hardly do it.

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