Do you feel that the global economy is declining? - page 3.

gunhell16

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

When it comes to prices rising, that is not actually new in these circumstances that all countries are facing. As a matter of fact, there are even other countries where the salaries of ordinary people are more severe, such as in the countries of Africa and other ASEAN countries.

I don't understand what you're saying, op, if the person you're referring to has lost his job or his previous salary, which was small, has decreased even more now that we are facing the problem due to inflation.

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Quote from: Charles-Tim on April 18, 2024, 04:42:26 AM

If the salary are lower than before, the price of goods supposed not to be increasing. What I noticed in almost all countries, as the price of goods and services are increasing, the salary also will increase in such a way that everything will balanced, but the government do the manipulation for their own good.

In poor countries, it doesn't work that way. Usually, product and service prices go significantly up and salaries stay the same or in some of the worst circumstances, they might get lower. For example, salary in informational technology in my country is going significantly down because there are too many software developers locally and competition is very high. Inflation is super high and salaries of UI/UX designers and developers are going down. As soon as many local people start working online on websites like Upwork, that situation might be fixed but I am not sure. My family could buy more with 50% of our salary 7-8 years ago than it can buy today with 100% increased salary.

Quote from: NeuroticFish on April 19, 2024, 03:01:41 PM

But the signals I've read here and there about the industries are better than in the last 2-3 years, quite some businesses seem to be recovering. And that would be the opposite of decline, even though it needs more time on this trend in order to gain the so needed confidence.

In my country, businesses are doing way better today than they were doing years ago but their appetite went up and they want to keep as much profit as possible. I mean that if business owner is a pig, even if it recovers, it wont care about employees because it senses that profit is increasing and his own appetite should grow big.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

It's true that the price of goods are rising and that's areality that everyone has to accept. Now, I see a couple of things that are being experienced by your colleague that didn't foresee.
1. Your company isn't giving a yearly raise or performance raise.
2. Your colleague isn't upskilling and the company are limited in budget for pay raise.
3. Your colleague didn't planned for his future raises and personal economy and that's why he became stagnant.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

When the price of goods in a country increases relatively much and the per capita income of the country does not increase in that proportion, it means that the rate of inflation of the country has increased a lot. This means that either the expenditure has increased compared to the country's income or the level of money laundering has increased in that country. So I think that such an incident happening from country to country is an internal problem of that country. I don't think it has relation with the global economy.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

everyone in the world is currently feeling the same thing, unstoppable inflation means that many people can no longer afford to buy goods at the same price 5 years ago, even those who are running a business are also feeling it, the price of basic materials for running a business has risen several percent, some have even increased by 100% while the costs charged to customers are still the same as before the costs increased.

nowadays we have to live wisely and frugally, don't let excessive spending make us run out of money quickly.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

He is defeated by inflation and it seems your friend didn't do anything to get another source of earning since maybe he's relying only on his job that's why he's been hurt so bad on current situation happened nowadays.

This is how important to step out on our comfort zone then try to find a lot more ways to legally earn so that once if there's uncontrolled changes will happen we can still leave according to our means and will just ignore those inflation discussion since we are fine and comfortable because we have a lot of sources to grind. Each situation change and we cannot go back before if we think we are fine for having one job for sure in future this is not enough so we need to grind to avoid experience hardship or worse to get broke.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

Inflation affects an individual's budget making most of us think that our salary is not enough anymore. Unfortunately, the majority are unprepared for this situation and feel that we're pushing down to poverty. The economic growth of the country is a way to measure the current situation and how it looks in the coming years. Seeing declining growth makes people think negatively and will affect their mindset.
We are not yet in the dark about feeling that we're going to lose hope but the government should never disregard the situation. But of course, we don't need to depend on them either. We also need to find ways how to overcome this inflation and one thing we can do is to increase our sources of income.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

If your colleague is receiving exactly the same value he has been receiving in the previous year but the value of the money have reduced its understandable to say that inflation has caused the price of everything to go up. Inflation can make money to lose purchasing power so badly to the extent you can not even use your salary to achieve so many needs. You can advice your colleague to look for another high paying job better than the one he already has.

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No one salary is reducing but it is stagnant in one place while price of things in the rising side and from your topic global economy is not declining but individual country economies are declining and even the decline happened and affect the African countries more than the others. If the world economy is declining then Economic depression will occur and I don't think such is happening for now.

But my country economy is declining and dollar.is rising. And even at that things are rising while minimum wage or salaries are stagnant in one place so Civil Servants who are working on the government parastatal.arw still complaining and suffering like the jobless.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

The global economy declining? Nope. What you'll find is that incessant globalization will mean every job is scrutinized for the possibility that it can be outsourced or automated. That means that many average IT jobs will now have wages suppressed, because there are companies out there who might offer up an Indian worker for a fraction of the salary of a "Western" worker. Whether they are the same quality or competent is up for a debate, but company directors are often only interested in the bottom line and results can take a long time to deteriorate and show through a difference in standards. Ultimately salaries across the globe are equalizing, which means people in richer countries will get less and in poorer countries, slowly they will get more.

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Quote from: Juse14 on April 19, 2024, 02:51:33 PM

It cannot be denied that the current global economic situation is not good.

I do agree with the first post: the salaries tend to remain small and the prices are skyrocketing; what happens with the prices is normal, since all the central banks are printing money like crazy since the COVID days. What happens with salaries.. is not.

But the signals I've read here and there about the industries are better than in the last 2-3 years, quite some businesses seem to be recovering. And that would be the opposite of decline, even though it needs more time on this trend in order to gain the so needed confidence.

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It cannot be denied that the current global economic situation is not good. With all the conflicts that occur, this makes the economic situation uncertain, where the prices of goods and services continue to increase along with the skyrocketing price of petroleum. So there is a disparity between income and expenditure, and quite a few people even have to take out loans to survive and meet their daily needs. And maybe these will be difficult times for those who don't have enough savings and investments. Where they might be overwhelmed enough to be able to meet their needs and pay their bills.

Apart from the current situation which shows how important it is to have savings and investments, the situation we are currently facing also shows how important it is not to only rely on income from one source.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

This is definitely the literal definition of inflation: "too much money chasing few goods"

But the thing is that every country has its own indicators to show how an economy is performing, and things like technology, politics are among some factors that will influence how a country's economy will perform and can't be based on a global scale...And if we talk about our current times, so many indirect factors affecting our economies such as COVID, Drought, Floods, Earth 🌍 quakes, Climate Change, the War in Russia, Now conflict in Isreal and all this affects us direct or indirectly... Can we still say the global economy is declining, well it all depends on what safe guards individual countries have put but the factors described do leave a negative impact on economies for sure!!!

Btw read some article few days ago saying Russian economy is booming even with the war at hand, so like I said we can't use a global scale but individual countries scale to tell the performance of a country...

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Quote from: slapper on April 19, 2024, 12:28:37 PM

Top leaders' purposeful choices impact the global economy. Your friend's pay falling? That's not bad luck; it's the system working exactly as intended. Policies that prioritize profits above people are to blame. Prices rise, the gap between rich and poor grows, and we're expected to handle it like a natural disaster?

Falling salaries and increased costs aren't a coincidence. This is a rigged game where the powerful call the shots and we pay the price. Greed and working-class neglect have caused this storm. Will we see this ship sink? Or will we take a bucket and bail? A major renovation is needed. We must level the playing field and distribute riches. Hold leaders accountable. Because if we do nothing, tomorrow will be worse

You can't expect a system to be completely fair - that's simply impossible. The system is created for personal gain - while the consequences are borne by the common people. You must have seen the fact that the poor get poorer - while many officials become very rich after only a few years as officials. This is something that is commonplace in the government system that has been built so far - you can complain, but you can't demand that things change completely.

The national and global economies are both unhealthy - meaning there are unresolved problems. As bearers of all consequences - we must be smart enough to manage our own finances and do everything we can to get more. It's impossible to become rich with just one source of income - it's only a step before you fall into poverty. Having more than one source of income is mandatory to maintain financial stability - while we must ignore issues that are essentially the government's responsibility.

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Top leaders' purposeful choices impact the global economy. Your friend's pay falling? That's not bad luck; it's the system working exactly as intended. Policies that prioritize profits above people are to blame. Prices rise, the gap between rich and poor grows, and we're expected to handle it like a natural disaster?

Falling salaries and increased costs aren't a coincidence. This is a rigged game where the powerful call the shots and we pay the price. Greed and working-class neglect have caused this storm. Will we see this ship sink? Or will we take a bucket and bail? A major renovation is needed. We must level the playing field and distribute riches. Hold leaders accountable. Because if we do nothing, tomorrow will be worse

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

I am yet to comprehend what you said about your friend because is it that the amount he earns is no longer enough to Carter for his daily expenses? If his salary is lower than it was 5 years ago that should imply that the cost of living has reduced as well because I don't see any reason why a government, individual or organization will reduce the salary of it's worker even when the cost of earning a living is very difficult in such a country. Maybe you should have given a proper and more comprehensive information about what you said.

Global economy is meant to decline and also increase some times as that is what keeps the world economy in a balanced state so you don't expect the world economy to keep flourishing without recording recession, because normally, when a country experiences recession it makes such a country to realize that the economic team are not doing enough to stabilize their economy so it also gives room for more economic awareness on how to manage a country's resources judiciously.

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Quote from: wiss19 on April 19, 2024, 10:38:11 AM

At least, the government or the employer made an effort to increase our salaries even though inflation might still rise because it is still fighting its effects but if we want to ensure that our monies are still valuable, we can do investing. To have an active and growing career is also great, as this ensures financial stability. For now the decline may not be global but there will be times that all will now experienced what the others have experienced. So don't be confident and always prepare your selves.

Yes, that's right, because of the aggressive increase in reference interest rates carried out by the central banks of various countries in an effort to reduce the rate of inflation, yesterday was hit by Covid-19 until now the economy has not recovered properly. Due to the increase in energy prices and reference interest rates in various countries, inflation has soared , until now we still feel inflation, because the world is also facing the challenge of climate change which will greatly affect state finances, the economy and people's welfare, therefore we have to look for solutions so that the economy in our country improves again, such as improving the quality of ourselves. and develop innovations so that our country can quickly recover from the impact of the economic downturn.

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In the current situation, all countries do not always have the same worm and the condition of the world where worms are very good, in fact, our Bangladesh is in this category of people. The pictures are very good in the country or many categories are very high but there are many categories in Bangladesh and here the salary in garment or any other factory is very low. The salary of our country should be increased because a minimum or a small person who has lehlpar or a category wage earner should get twenty thousand rupees even if the salary is minimum. A career or a helper's salary is not equal to the salary of a person who does bad business for a living and develops finances and it becomes difficult for him to live his life.

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Quote from: kryptqnick on April 18, 2024, 10:57:55 AM

If we're looking at 5 years, then I agree that in many countries, including mine, things are getting worse.

I think it's better to not feel that way or be negative because I'm sure you won't like its effects. Instead, what mindset we should have is to be positive at all times and believe that things will only get better.

Quote from: kryptqnick on April 18, 2024, 10:57:55 AM

Salaries are higher in local fiat, of course, but the purchasing power is lower than it used to be, so to improve your life, you need to be in active career growth to outrun these changes. That being said, I'm not sure if it's a global trend, because in my country it has regional causes that aren't relevant elsewhere. I tend to agree with Charles-Tim that objectively, the global economy isn't on decline.

At least, the government or the employer made an effort to increase our salaries even though inflation might still rise because it is still fighting its effects but if we want to ensure that our monies are still valuable, we can do investing. To have an active and growing career is also great, as this ensures financial stability. For now the decline may not be global but there will be times that all will now experienced what the others have experienced. So don't be confident and always prepare your selves.

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Quote from: shanhaigamefi on April 18, 2024, 04:34:07 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.

He/she was right. Although the salary paid to workers now is increased from 5 years ago salary but judging by the fiat currency de-value it is much lower than the previous year's salary and this shows that the global economy is on a downslide motion.
Sadly, the government never agree to this and always tell the people everything is fine while the main cause of the problem start from the yearly printing of new fiat currency.

Topic: Do you feel that the global economy is declining? - page 3. (Read 790 times)