Is the current economic situation really that bad? - page 6.

Kakmakr

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OP, you are looking at the situation of the rest of the Fiat financial system, but Bitcoin are the opposite of that. It is not to say that it is not influenced by those factors, because it is.

When there are global political instability, people tend to turn to financial tools that provides some kind of safe haven, like Gold and Silver... and Bitcoin are seen as a safe haven in those times.

We still have to see if it will hold that reputation in the long run, because Gold and Silver has been doing that for ages and it has stood the test of time. Wink

Xcode7

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Quote from: tottong on July 22, 2024, 12:01:20 AM

Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

There are many factors that make the economic crisis worse and it is a big problem that is difficult for any country to solve.
The role of the economy in a country is quite important because a poor country's economy can have a long-lasting negative impact.

I think the impact of Covid several years ago is still there, but the economic crisis in several countries, especially developing countries, is not that severe and is still in the normal category and is slowly starting to recover.
I think no country is facing an excessive economic crisis right now except countries that are experiencing war like the Middle East

tottong

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Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

There are many factors that make the economic crisis worse and it is a big problem that is difficult for any country to solve.
The role of the economy in a country is quite important because a poor country's economy can have a long-lasting negative impact.

Quote

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

The world economy is indeed experiencing a negative impact and this has an effect on all people, conflicts, natural disasters or what remains of the pandemic itself are worsening world economic conditions.
But fortunately now this figure is relatively stable even though the financial crisis has not been able to be reduced to a much smaller figure.
Especially in my country, although we are still faced with difficulties in keeping up with the economy because many workers were laid off before, but now it is a little more stable than before.

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Quote from: CageMabok on July 21, 2024, 10:15:01 AM

Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

Of the three impacts that you have mentioned, I think only two impacts can still trigger economic instability at this time, namely through war and also through the interest rates that you mentioned. Meanwhile, regarding the pandemic, I see that it is no longer a big trigger or influence on economic matters because it was handled properly by everyone throughout the world two years ago. So you only need to look at and analyze two other things without having to include the pandemic problem in something like this because it has long been resolved by everyone.

The COVID-19 Pandemic directly cause the massive interest hikes and the rising inflation rates in the US. They overprinted money during this time to provide sustenance to citizens who were struck badly by the pandemic financially and when the economy recovered afterwards, the overprinting's after effects struck them badly, causing these eventualities to happen. So yes, we're still experiencing the after-effects of the pandemic. In countries such as China, where they say they have been able to recover completely, they are still at a massive loss as countries who pulled out of their businesses aren't expecting themselves to return to China's arms and are looking for other exporters/manufacturers elsewhere.

So yeah, part of the reason why shit is getting expensive these days is because the US dollar's not that valuable anymore, and companies are looking for other countries to manufacture/assemble their products besides China. So don't you disregard just how massive the effect of this pandemic is.

mirakal

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Given that the world's economy is not really in a good shape, then most likely our own economy will also struggle especially if we do not know how to manage our own finances and money expenses. Being irresponsible on our financial management will lead to a poor economy, but for those who are capable on improving their own finances instead and makes more living than expenses, they will not be affected too much with how the world's economy is going on.

Pandemic has started this all and until now, seems a lot have not recovered yet. But if we are good enough with our own money activities, I think we will eventually recover from this quicker from what we imagine.

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Quote from: dansus021 on July 21, 2024, 10:11:34 AM

Is the current economic situation really that bad? In my opinion yes but i dont really that bad but the media nowadays is crazy I mean news is spread is rapidly fast.

But if the question is our economic is bad at the moment the answer is yes in my opinion it all started when covid is come gov print more money and inflation is started

The truth is that the current economic situation is very bad at the moment and I don't think the media is spreading wrong information concerning what is happening in the world right now even though what they always publish sometimes may not be totally correct but they have created a lot of awareness regarding how the economy of most of the countries in the world has suffered so much as a result of bad governance since the outbreak of the covid 19 pandemic.

There is a high rate of inflation all over the world and the government has not made anything meaningful to salvage the situation, the economic situation in my own country is suffering as the rate of unemployment is increasing on daily basis,the economic situation will not change until there is a change in the political system all over the world.

erep

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Quote from: CageMabok on July 21, 2024, 10:15:01 AM

Of the three impacts that you have mentioned, I think only two impacts can still trigger economic instability at this time, namely through war and also through the interest rates that you mentioned. Meanwhile, regarding the pandemic, I see that it is no longer a big trigger or influence on economic matters because it was handled properly by everyone throughout the world two years ago. So you only need to look at and analyze two other things without having to include the pandemic problem in something like this because it has long been resolved by everyone.

The pandemic has passed and there should be no need to add any more to the current economic problems, even though the initial start of inflation occurred due to the pandemic factor until now the impact of war and rising interest rates continues, every country must have a strategy to maintain market price stability by utilizing natural resources to people's needs without exporting them abroad, the government must prioritize local companies producing more basic necessities products for the community because the prices of local products are more affordable to prevent the impact of inflation from getting crazier in all countries.

CageMabok

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Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

Of the three impacts that you have mentioned, I think only two impacts can still trigger economic instability at this time, namely through war and also through the interest rates that you mentioned. Meanwhile, regarding the pandemic, I see that it is no longer a big trigger or influence on economic matters because it was handled properly by everyone throughout the world two years ago. So you only need to look at and analyze two other things without having to include the pandemic problem in something like this because it has long been resolved by everyone.

dansus021

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Is the current economic situation really that bad? In my opinion yes but i dont really that bad but the media nowadays is crazy I mean news is spread is rapidly fast.

But if the question is our economic is bad at the moment the answer is yes in my opinion it all started when covid is come gov print more money and inflation is started

kryptqnick

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Political situation in very unstable in the world right now. 2020 was a bad start of apparently a terrible decade, if not longer. The long-term tendency of reduction of warfare and casualties from wars, as well as success in combatting poverty are broken, and we see that the world is full of tension, injustice, and hardship.
But if we're talking about the global economy, it is actually doing alright. The world economy is still growing; we are not in recession, and recession seems unlikely to happen. I think the problem is not that we're not producing enough stuff or not forming enough wealth, but in how these resources and wealth are distributed and what they are being spent on.

Ozero

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Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

Every generation has had similar difficulties in their lives. Large and small wars, epidemics and other disasters, deterioration of the economic situation have almost always occurred periodically. And each new generation raised the question of whether the apocalypse was coming to them. Everything passes, and these difficulties will pass. But if you look at this issue more globally, then with each new generation people’s lives become more comfortable and better. So, whatever doesn't kill us makes us better.

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Quote from: shinratensei_ on July 21, 2024, 01:27:19 AM

but the main culprit i think is the housing price and rent price, it takes up big chunk of our salary that I don't think it's normal.
the amount that I consider healthy for the price of rent is just 30% of salary, more than that I think it will greatly reduce purchasing power of many people and speaking of now, it usually takes up 60% of our salary, pretty crazy if you ask me.

I think it will depend on the region and country you live in. In countries like the United States, house prices and rent are everyone's obsession, but in my country it's not a big deal. As far as I know, because the economy is in crisis, the real estate situation in my country is also in crisis. In urban areas, many real estate and apartment rentals have prices close to the bottom but still have no tenants. Some people cannot afford to rent or some will not want to take the risk at this time, they are ready to retreat to the countryside to hide for a while until things return to normal. Meanwhile, in rural areas like where I live, real estate is much cheaper because demand is still not high.

Helena Yu

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The world is fine, only in 2008-2009, 2020 and 2022 where the whole country suffer bad economy condition, 2023 is back to normal, 2024 should back to normal since there's no big change.

The reason why we're keep seeing so many people are unfortunate, in debt, poor etc because the world is evolving. In 19's, people who can typing and understand basic computer will get high salary, in 2024 most people already have that skills, when there are so many supply, the demand would be lower and lower.

They're too late to adapt.

https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?end=2023&skipRedirection=true&start=2003&view=chart

shinratensei_

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People are drained of their savings when pandemic hit, the commodity price remain the same as it was when there was sudden inflation due to pandemic doesn't help either.
so many people are living paycheck to paycheck these days that they are just few steps away from poverty so yeah it's kind of bad in my opinion.

but the main culprit i think is the housing price and rent price, it takes up big chunk of our salary that I don't think it's normal.
the amount that I consider healthy for the price of rent is just 30% of salary, more than that I think it will greatly reduce purchasing power of many people and speaking of now, it usually takes up 60% of our salary, pretty crazy if you ask me.

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Quote from: mindrust on July 20, 2024, 10:32:12 AM

On a macro scale it is all fucked up. China is becoming a big problem. They want to be the only manufacturer and kill competition completely. That only means one thing: war

It's not actually China that's being problematic it's others who aren't able to work as hard as those Chinese people. They're working hard to be top in manufacturing and they're also trying to be the world no 1 super power and which country doesn't want to do that?

If I'm not wrong then each country is somehow expanding their armies and also expanding their armed weapons and other destructive weapons only so they can be safe from other countries. I know China's huge growth in manufacturing industry is a threat to many countries but it's because of those Chinese workers we get things for cheap values.

Let's say if those things were manufactured somewhere else than China then their cost would be 2x to 10x more than what we get right now. Actually, China is somehow helping in reducing the cost of things with its business approach.

Baki202

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Quote from: rodskee on July 20, 2024, 05:28:50 AM

inflation has always been expected to rise but it continues to do so with the government helplessly watching it happen

i think that the economic instability is caused by many factors and each factor varies depending on country to country

education, jobs and housing are things that need to be looked at as i think these are the core of a good and stable economy

Inflation is the major problem and it has been on the rise for a very long time now and if this issue is not addressed on time, they will continue to face more challenges. The price of commodities are not reducing. The government them self are looking confused. The solutions they are coming up with, are causing more problems, the instability in the economy, every country varies in factors of affection. So let’s see what ever solution every government will come with to tackle the challenges they have concerning the economy since different countries with different problem, jobs and housing are one of the major problems we all are facing, and this are general problems that every country battles with, and even advance countries still battle with this issues likes, maybe in the future they would have gotten solution.

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Quote from: mu_enrico on July 20, 2024, 08:10:00 AM

Just stop watching the news; it's always negative, as far as I remember. The economy always returns to the mean/order when there's volatility/chaos. It's like a cycle that is unimportant for working people to pay attention to on a macroscopic scale. Just work hard, save for bad times, and enjoy the good times. There's no need to pay attention to things outside your circle.

Unfortunately, there are no sources for obtaining information other than the well-known international media, which in turn is subject to certain political agendas. Given the lack of credibility and objectivity of most news agencies, the news they issue must be treated with caution and rationality. The most important thing that can be concluded is that the global economy is actually going through one of the most severe crises given that economies are interconnected with each other. Therefore, a crisis in Taiwan, for example, could affect major economies connected to Taiwan’s products.

Currently, there are international crises affecting the whole world, such as the Ukrainian war and immigration issues, and this has led, as a direct result, to the rise of the extreme right and the emergence of new poles that threaten the influence of the old poles. This in turn affects global economic and financial policies. Yes, it can be considered that we are in a crisis era, coinciding with rapid technological development.

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Quote from: mu_enrico on July 20, 2024, 08:10:00 AM

Just stop watching the news; it's always negative, as far as I remember. The economy always returns to the mean/order when there's volatility/chaos. It's like a cycle that is unimportant for working people to pay attention to on a macroscopic scale. Just work hard, save for bad times, and enjoy the good times. There's no need to pay attention to things outside your circle.

You have also a point here. All we can do is just to witness how difficult the world's economy is, and we can't do nothing but to rely on the government how they will manage to recover and make such progress or development after. With that, it's a lot better to just focus on our own work and do better. Save and invest as much as possible, so that one day we will be able to help one another's economy when we are capable enough to extend some financial help.

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Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

The whole world isn't facing an economic crisis, for example, my country Georgia is doing better today than it was doing before the Russia - Ukraine war. This war led many rich Russian people to fly here with their families and move their businesses and assets to our country. They are always paying huge rent prices. Apartment prices in my country are now more expensive than in Europe because of Russian and Ukrainian migration here. People make significantly more money today than they were doing one or two years ago.

In overall, the current economic situation is very bad for many countries but exceptions happen everywhere. Covid + War really negatively affected many countries.

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Quote from: shanhaigamefi on July 19, 2024, 04:13:33 AM

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

The impact is felt by all elements of society, especially the lower middle class. There is no certainty regarding the increasingly serious economic situation. Inflation continues to soar so that the prices of goods and services also increase while income remains unchanged. The minimum wage received is not sufficient to cover daily needs. I don't really pay attention to the situation in foreign countries, but the effects we feel come from the things you have mentioned. Regardless of whether it is a conflict or trade war, the industry is damaged by illegal goods entering and destroying market prices.
For example, when the world begins to recover from the pandemic, we are required to adapt to the competitive world of work. The effect can really be felt, as if the economic growth that has been running after the pandemic all has to start from zero.

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