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

There is a lot to gain by creating fear, when there is an economic crisis it may seem as if the money just disappears but in fact what is happening that there has been a transfer of wealth, this may seem odd but when there is a deep economic crisis that is when the most money can be made if you are invested in good assets that are in high demand during such a crisis, now I am not saying this is what the people quoted on the OP are doing but without a doubt there is an incentive for them to do so.

Nearly all assets are going to sink during a recession, don't expect crypto to save you.

UK's entered a recession and the projected unemployment rate is something like 6+ percent. Global recession's probably already here and will last well into next year. You don't need to look towards economist or whatever notable people and have them opine on the obvious. The economic forecasts all predicted a recession many quarters ago, and those models are fairly reliable.

All those who think that some of these billionaires want to help them with good advice are really living in a big delusion - they didn't get rich by giving free advice, especially not to the common people on whose backs they got rich. Either they want to appear smart and get some attention from the public, or they have some other hidden agenda, for me it is less important - as I wrote in the previous post, their opinion means nothing to me.

It is clear that the recession has caught the attention of many crypto investors so far and made them cautious about investing. I agree with this concern among investors mainly because they don't want to buy higher and prefer to wait for prices to low due to the impact of the recession.

Actually the current price is really not confirmed for a good trend because I think the price tends to fall due to panic and other things. But over time, I think the market will continue to strengthen especially as the impact of this troubled economy actually wears off. It is feared that interest rates will continue to increase, but when the adjustment feels good, we can definitely get through this difficult time.

What will they gain by creating fear? These guys are billionaires who got their wealth from their own businesses, I don't think they need to cook up some fake story just to steal money.
There intention to warn the public may be genuine so that people don't get cut up unexpectedly. After all,  they have enough money not to worry about recession, they can afford a wealthy life in any economic situation.
If they don't care they won't be warning people to be on the look out, they can easily ignore and enjoy their wealth.

You don't need to be a billionaire or notable personality to know what's gonna happen.
Recession or not, we need to take care of our financials to be prepared for all possible crises that we may encounter.
Just like what happened during the pandemic days, I believe, most people understand the importance of being frugal with your lifestyle.
So whatever these known people are saying to the public, is not really something new. But most already know what to do to combat any possible bottleneck with their financial aspect. A lot have learned their lessons and priorities during this past covid pandemic.

Jeff Bezo's might have more insight than many when it comes to slowdowns in consumer spending but it's obvious to everyone that inflation being so sky high will eventually lead to a recession. If you've got wages stagnating and prices raising by 20%, 50% or even 100% in the space of a year then something will eventually fall over. It actually requires a recession to rein in consumer spending because many people are still living like they were in the days of super low interest rates - many borrowed large sums in the good times that ultimately needs to be paid back. Now we're seeing a gradual uptick in job losses as certain sectors start to shrink and it's going to have wide effects.

These people know the rules to the game that we all play so of course their words must be taken seriously when they are serious. Robert Kiyosaki himself has been good at predicting economic struggles, becoming a notable figure back in the 2007 collapse and right now, his words are still worth their weight in gold. As for Jeff Bezos, he is a decorated businessman and just like Kiyosaki, his words regarding his prospect of the current market is still as important as anyone in his field. Looking at things the signs of an economic depression is afoot, the outside market just needs a massive push and everything will come toppling down which is a really scary thing when you come to think about it. It is still yet to be tested whether the cryptocurrency market could be affected by the collapse of the fiat market, save for the 2020 pandemic.

when the rich say sell at a crash.. you obviously buy the dip
when the rich say buy the hype.. you obviously sell at the bubble

when they know a TV/washing machine will be a higher price in 2023 than 2022, you know to buy it in 2022

i am not saying all elite influencers say the opposite to good advice, but before using your money to test their theory. do research and use a calculator to test their theory

back in march when the crisis ramped up.. i bought new TV's and washing machines, etc. i totally re-kitted home. and still got to buy back in some coin at a profit

selling 0.2btc at $60k got me $12k
bought appliences/devices for $6k
bought $6k of btc in late summer at $30k/btc
got 0.2btc

im happy
plus i know goods will be higher price in 2023-2024 so no point waiting to buy goods in future years of the next cycle of halving event

however....
its a bad time to sell coin now to buy goods and hope to buy back coin again early 2023 to recoup coins

so buying and stocking up on goods in spring-summer 2022 using coin  was a great deal then but a bad bad deal now.

if you have fiat to spare throw it into crypto while crypto prices are low.

but they are right for crypto advice dont use crypto money to buy goods now.

however if you are pure fiat and have no involvement or no intention to get involved in crypto.. dont hold fiat for a year(to buy goods next autum-winter). buy goods while cheap this winter (january/winter sale is optimum)

just dont take anyones opinion as fact(dont auto trust someone without thinking) to blindly follow.. get out a calculator and run some scenarios and do some research based on their advice and see which ones fit the narrative.. and then trust the one that fits best

buy low, sell high. always applies

Do we need the speculations of others before we know that there is something wrong with the system. Like, isnt the world going through something in our current word order and its getting worst by the day?

Crypto or not, it's a part of our world as we have it now and i think, one ought ought be making some decisions on what is to come if it does come and cryptocurrency isn't some asylum although it might help in a big way. We still need to be worried for the uncertainties ad not live like its all cool because we've got cryptocurrency. Make investment decisions, diversify!

First things first, Robert Kiyosaki is not a notable economist. He does make a great book, but just that, nothing further that he deserved to be claimed as a notable economist. I don't know where that notable claim emerged. Also, IIRC, Kiyosaki was already predicted the "crash" will be happening way earlier than this time, so in the meantime, he just reiterating again the "crash" will soon come.

Regarding the recession with the crypto issue, well, the cryptocurrency market hasn't yet been big enough that it dictates the whole world market. It is very unlikely that cryptocurrencies are recession-proof. So to be completely relied on cryptocurrencies to embrace the future outlook of the concerning economic situation is a bad take.

I would guess that's actually good reason to get into crypto. What you do not understand is that crypto is not something you could only invest as an asset and nothing else. Crypto is a whole world where you could make a lot of money and that's the point.

If we end up with working in the crypto industry then we could get out of this recession without a problem. Look at how amazing and big crypto world is, there is a whole business world going on in there and you can find a freelancer job in there, and work in even 2-3 different jobs and make money. This means that 2-3 salaries could be earned and you could live a very comfortable life thanks to it, sure you would work 14-16 hours a day, but be richer at least.

What if billionaires have other agendas? say what the media wants to process so as to create fear. They can indeed escape with a large capital of money and go to a place where they can secure their assets, then do people who only live above their limitations need to worry? they don't care about recessions, crises, or anything that threatens the global economy because they feel that everyone at the top will survive while those at the bottom will still be oppressed. It doesn't matter what the media says and that is because the fact is that they issue statements after they really feel safe.

I think that a big economic hardship is settling in already and is going to worsen over the next couple of years. It will be worse for some countries and better for others, just like it will hit some people harder than others, but it will be a tough time. As for cryptos, they are not directly dependent on the global economy (sure, people need to have funds to spare on buying cryptos, but the market is small enough that even a very small amount of those capable of doing that will do). The market is currently down, but I don't see why Bitcoin can't reach its new ATH in, say, a year, while the global economy is still going down. We can't rely on that happening, we can't know how it will go. So preparing for an economic crisis if one has a way of doing that is reasonable, but maybe crypto investors will have it better than others, we'll see.

What kind of protection?
Crypto is driven by public ledger and crypto is going to work until there is no one left to trade it in between two wallets/peers.

Though there remains no one to exchange it then also bitcoin is ideally going to be there forever over blockchain which is permanent and has already made N-nodes thus preserving all the bitcoins that were mined, transacted, exchanged, stored and more.


If you specifically talking about what will happen to bitcoins value then it could go to zero in terms of “fiat” measurement.

However Bitcoin is still going to exist. 1BTC=1BTC

I guess so, we've seen into the pandemic and with the war and these are all crises that we have never expected to come altogether. And even with those, the market still did better. That's why no matter what the notable people are telling about the big crash is coming to the economy, it's a good thing that they're warning us and I'll take it. We've got plenty of time to prepare whether it will be coming for real or not. I guess we've been always prepared on how volatile the crypto market is.

We already know the capability of crypto to rise and fall and to survive even during an economic crisis so I guess it's better not to fear their warnings but rather be optimistic and think of more ways on how we could invest more in crypto in the preparation of the possible recession period in the future. Anything could happen and get worse so we have to face them boldly since we can't control all these crises. This will test how we trust the market.

Why should we get worried and loose hope even before the arrival of the economy challenges, many believes that there's manipulations ongoing with the way the world economy system is running in favour of some particular category of people, the solution we should sought first is in dealing with our own present time challenges we are unable to handle befor it got escalated to a global problem whereby everyone is affected, we must guide the economy collapse individually before it turns an inevitable world challenge.

Worry is very basic, so it's very natural when we have that worry. However recession will hit in every aspect and here I think cryptocurrencies will also be affected too, although I can't say for sure how much impact will be felt by cryptocurrencies that are hit by recession.
Worry is necessary, because by having a sense of worry, we will be more careful. With a note, don't let the worry be excessive and control us. That will actually have a bad impact on ourselves, because it will affect us in making decisions.

That is only possible if people have cash in hand and this can be possible if the companies and businesses are earning normal revenues and sharing to their employees. Usually during a global recession, we will see a huge number of job cuts which will create cash flow issues within economy. So the chances are very slim to see an influx into crypto market. Rather, we may see a lot of people trying to sell their crypto assets for survival regardless of what the interest rate is.

The key here is money! What the economists say is very simple - have some cash in hand or in such assets which you can sell off at any time to maintain the cash flow at hand. Currently all major companies are firing people in order to reduce their operating cost and trying to figure out a bare minimum structure to keep the operations on. This is not really sending out a good sign to be honest!

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?