Topic: Notable people on current and upcoming economic issues - should we be worried? - page 2. (Read 349 times)

When financial advisors lack good advice, they preach diversification. Throw your money at everything and hope something works! The same principle could apply to inflation and economic recession atm.

Commodities were one of the first options people turned to when discussions of "transitory inflation" arose. Real estate was another hot topic, although with the steep decline in home loans a housing crash is expected despite abysmal levels of new real estate construction. While there is a relatively new thing called fractional real estate investment which can allow small cap investors to invest in real estate, I'm not certain whether or not those small cap shares are too diluted.

Which leaves the best option for most being entry level commodities. The price of lumber has exhibited several massive spikes recently starting with COVID in 2020. It is possible that wood, lumber and trees are all deflationary assets. Considering they are being cut down at a far faster rate than they can be replenished. To add to price strains, firewood has become a well performing asset during winter as many search for alternatives to heat their homes.

While gold, silver, platinum and other high priced commodities might exist outside the reach of most investors. Metals may not be the best commodities market to invest in. Technology and mining methods are constantly improving. Allowing for minerals and metals to be stripped from the earth more quickly and efficiently.

I think wood and lumber might be a decent asset class given them being long term deflationary. Even if people wanted to regrow lost forest, they couldn't do it as they would lack space. The quantity of arable land on the planet shrinks every year leaving less available space to regrow lost trees. Even if we have a current influx of lumber which is temporarily maintaining an affordable price for lumber. Over the long term I think the chart will correct and the price will rise.

The crypto space is a sub-system of the global economic system, which means that it might also be affected by recession. Inflation which leads to high cost of goods and services might reduce the spending power of most people, thereby discouraging them from investing in the crypto market. Apart from diversifying ones skills or income, it might also be good to cut down on expenditure. Families should ensure that as they increase their income and their expenses should be low to a large extent. Spending more than your income this period would lead to disastrous debt.

Regarding the advice of Jeff Bezos, I just bought a new deep freezer because it would help me to save more money. Buying food items in bulk and storing in the refrigerators have been one of the ways my family have cut some expenses this period.     

I won't be rude, so I won't say how much advice from a billionaire who got rich on modern slavery means to me, or even less from some so-called expert who wants to be the new Dr.Doom. They are not notable people (at least not for me), and if I want to buy a new TV or refrigerator, then I will do it, regardless of what they all think.

False moralists and hypocrites whose workers can't even go to the toilet during working hours, and who spend years building the status of some kind of philanthropist with claims that they will donate everything to charity, are actually the bottom of human society, not the other way around as some think.

And as for inflation, recession and other evils that threaten us, unfortunately crypto is not the ultimate solution. Of course, it can help if you invested in Bitcoin in the past, or you sold and saved cash at the last ATH, but many times it has been shown that you should not keep all your eggs in the same basket.

What you say makes sense, economists spend their whole life studying their work, specifically here economic forecasting. But if they're really better than those billionaires, why don't they get rich? I mean they can make predictions about the development of an economy, then they seize the opportunity to enrich themselves. I don't believe there is anyone who doesn't want to become rich, their purpose as an economist is also for money. Everyone's advice is completely helpful or sometimes not, billionaires if not good, can't become billionaires.

The crypto ecosystem and our natural world order operates an almost parallel financial system and a fall on one end doesn't necessarily mean the crash of the other neither can we entirely hope on ceypto for a saving grace. It just might be but, that would depend on several constraints as to what individuals are willing to do when the recession comes if it does come. I like to believe that its coming, followinv the series of events taking place in our world today with inflation on the rise everywhere and not because some billionaire says so. For all I care, them billionaires are out for there money as always and we should be too. Tread carefully and invest.

The best investment you could possibly be making right now is in yourself, expanding your skillset and looking for multiple revenue streams is the best way to go. The world is constantly changing and what you think are solid companies can sometimes be too slow to adapt, ultimately leading them to falling over. You should understand that an employer would drop you in a second if required and have to somewhat tailor your own career path with that mindset. However if you have deep education with good exposure to some high quality companies, then your CV can easily stand out from the crowd if you ever need to dust it off or decide to improve your salary by switching jobs up the ladder regularly.

When talking about economists or billionaires there may be a slight difference because at least economists are clear that they have deductions from what they really know, so that does not rule out the possibility of this happening and that has now been proven.
But of course we can't completely do whatever they say because we have our own way of life even though what the experts say is true but of course when it doesn't agree with our heart then we can't fully believe it.
I personally will take those words with me, but to do what is suggested, maybe I will first look at the situation and conditions that I experienced first, because what other people think is right, not necessarily what we think is right.

One of the main effect of recession is that interest rate would be lower so that means thee is a good chances that some cash will flow into crypto but we are talking about global recession so thats the whole world economic in decline and anything could have happened including crypto market crash as most people could be cashing out their crypto reserve

If you have decent amount of cash then once everything hit the new low then you could start purchasing all those

I think that makes sense if they're aware of something that's about to happen and like a recession to be specific. They're making it look that they've got insiders and understands what's about to come.

We can take it seriously but if you doubt what they say, you can add some effort to do researching just to get yourself be prepared of anything that will happen.

For those people that have multiple sources of income, they wouldn't worry about it at all especially those that have been tested and saw that they've got pandemic and crisis proof sources.

Whatever they say, I would say take with a grain of salt and DYOR.  You have to watch some of the billionaires though.  Some are good at FUD, buying on the cheap, and hodling to sell at big profit.

Whatever that they say may not be far from what will happen but when it will really happen is what we should be conscious of so that we could take the kind of decision we want to take or what they advise. For example if we take the decision of trying to dump then it will be happening so early that the crypto market will crash far earlier than expected. So we only need to behave normal and do whatever we want to do as normal and live our lives and that recession will naturally happen then the economy will get back than dumping in panic and forcing the market bear to come early. It dropped in 2017 and it happened that btc later got to $64k.

If notable economists say the same thing then yes, we should be a little concerned. If only billionaires are saying it then perhaps we should look for confirmation first. Billionaires may have been successful and have lots of money in the bag, but they aren't gods in economics although they may know an indicator or two on whether something is bad or not. Economists however, they have their entire career focused on determining these things even from a mile away. I'd listen to an experienced economist any day more than Bezos or Kiyosaki regarding this matter but yeah, all signs point towards economic recession, and it may not be long before we experience its full-blown effects.

Today all finance related newspaper are flashing only one headline - what Jeff Bezos said on upcoming recession! Let's have a look at it.

https://www.ndtv.com/world-news/hold-onto-your-money-jeff-bezos-warns-of-recession-advises-people-not-to-buy-tv-fridge-this-holiday-season-3536961

Now back in May, another notable person like Robert Kiyosaki said similar thing. Read it here,

https://medium.datadriveninvestor.com/biggest-depression-ever-is-comming-according-robert-kiyosaki-da51d1e82d9e

When billionaires and notable economists are warning us about upcoming recession and rising interest rate, should crypto investors need to be worried? Or do we have sufficient protection against the recession when we have cryptocurrencies in our portfolio?

Want to know your thoughts? If the recession is coming, can crypto save us from that?