Topic: Recession? How to face It? (Read 1188 times)

Last year, news about the Recession continued to be featured in many news media and was always hot news to discuss. But strangely everything began to be forgotten when the war conflict heated up. It's as if news of the Recession has faded. But unfortunately the fading news about the Recession was not accompanied by an improvement in the global economy. In fact, it could be said that currently the economic situation is getting worse. Layoffs are everywhere, unemployment is increasing, and in fact, although inflation is said to be starting to come under control, unfortunately people's purchasing power has actually decreased.

Maybe the Recession has actually started without us realizing it. And Op you have made good tips through this topic. And I think your tips are still relevant even today. And for those of us who have made preparations to face a Recession, now we should not be so surprised by the situation that is happening. Because we may have been making preparations since last year. But what I'm worried about right now is the impact of increasingly widespread war conflicts. Whether it will worsen the global economy or not. Although currently the impact does not seem to be felt that much in the country where I currently work. But worry is still in my mind. And I think we also have to be prepared about these concerns.

Yeah same here I need extra income as well that is why aside from getting an honorarium I also do signature campaign to give me more earnings than usual. If possible I will find another way to make money in preparation for possible instability.

Of course, mental and emotional problems will be disturbed if an economic recession occurs. Because many unexpected things happen, prices rise, layoffs and many other impacts of the recession, if your mental condition is not good, of course you will experience stress. Yes I agree with you. In situations like this, it is the family who is able to provide encouragement and always provide support to you.

The role of the government is of course the most important thing in dealing with a recession, the government must have a special strategy in dealing with a recession. Since Recessions are part of the economic cycle, all you can do is make sure you are prepared and plan accordingly. Apart from seeking additional income, you should also enter the investment market as it is still a great tool for building wealth, so it is wise to consider investing even if you don't have a lot of money to spare, but investing is still something to think about.

There's a wider problem in how certain terms and language get distorted and twisted to the point it's becoming harder to even accurately describe reality.
The use of the term "recession" is one of the examples. This word is being tossed around very loosely, often by news outlets that are looking for eye-catching headlines to generate more clicks. They will cry recession even when there's economic growth, just because it was lower than in past periods or lower than expected.
Then we end up with situations when so-called experts can't even agree if we are in a recession or not.

The term should be reserved for a PROLONGED downturn in economic activity, otherwise it's just scaring people for no good reason.

The term recession seems like bone in the neck to many individuals,it tends to deposit tension,people panic and soon become hypertensive.Nobody wants to be stucked in the situation called "recession".Recession in general,it applies to every aspects because it disrupts the normal living activities of people.
 
 To survive in recession,you must be financially stable than before or even now.We've heard so many times that a recession is coming this may sound scary but if you've lived through a few recessions,you should know what to do or how to prepare for the upcoming recession.People will always say save more money that can last you for the whole time but on the contrary,how do you intend to save with no money?how do you intend to save when you don't have an extra source of income.

Build up your emergency fund;create another means to make more money so that you can have enough to save.You need to play smart and not play safe,Get a side hustle,don't go into debt.
Instead of emphasizing on saving,focus on generating more ways that will source for income and get more strategies for enhancing your financial strength.
 Let's normalize been prepared at all times to unforseen circumstances!

A recession is not scary for citizens who know all their expenses. You need to have an application installed on your phone that allows you to keep track of all your expenses. I have it installed and it was just a matter of habit to accustom myself to it.
But now I know all my expenses, down to the last penny. I can predict how much I will spend in the next month. Based on this, I figure out how much money I need, how much additional income I need to find. Of course, during a recession you need to be able to repair things and take care of them, for example, equipment and clothes - this is a very important skill. This also applies to household chores, such as plumbing services, cooking and cleaning.

In fact, saving is easy, the main thing is that you have the desire.

Dealing with an economic recession can be challenging, but there are steps individuals and families can take to lessen its impact.
A simple example is Mental and Emotional support:
Recessions can cause stress and mental pressure, so don't hesitate to seek support from family, friends or professionals if needed.

Apart from that, the government also has an important role in overcoming recessions with appropriate fiscal and monetary policies. But as an individual, the steps above can help you be better prepared to weather tough economic times like a recession.

Periodic ups and downswings in the level of economic activity are more prominent in capitalist and developed countries. These are usually caused by fluctuations in aggregate demand. A recession is a situation of negative growth for two successive quarters ( 6 months). It's a situation in which the growth rate drops drastically to a very low level. The next is recovery; it's a situation in which output, employment, etc. increase. When an economy recovers from recession (or depression), it is called the recovery phase. Physical measures and monetary policy are the steps that the government takes.

What do you mean by this exactly? Why would developed countries want a shortage of food in developing countries?
I've heard stories (from a while back) about big corporations like Monsanto lobbying/corrupting poor countries' governments to force farmers to use their GMO seeds (with the "terminator" gene), to make them dependent and unable to produce their own organic, unpatented seeds.

If you understand what I mean above, it might be interesting for us to continue the discussion, recession and inflation are big problems, the government has a constitutional responsibility to solve them. Facing recession and inflation requires collective work and does not rely entirely on the government to face this problem. The government can play its role in regulating the supply of needs, prices of goods and stabilizing the market and if these prices can be resolved then the problem will be easier to solve.

This collective work is intended to help solve problems in the midst of a recession or inflation. The role of individuals is also very much needed and working on the side to increase income is also quite necessary so that we can face this problem. It takes a careful plan and a special strategy to make money in these conditions because it will be much more difficult when we don't have any way to deal with it.

Recession is man made and not Natural product, it is only affecting those families that that not part of the national cake or have nothing to do for the survival. God always provide a way to face and over man made recession and Economics Depression. And because of the fear of the unknown we are to plant crops and fruits to sustain ourselves whenever the economic hardship comes. Agriculture is the only solution to overcome this present inflation and the economic hardship in the world.

The world can not solve this inflation issue because inflation has been on ground to suffer the people. No there is another trend on ground now. The advance countries are using the terrorists to dis-stabilize the farmers in the third world countries to lack food products.

It's always wise to be prepared. The best time for that is during the "good times" when people don't have to worry about their daily living too much. But the problem is that the average person is not thinking about what could go wrong in the future and would rather spend all the resources on pleasant things right now.
The other problem - with the geopolitical situation changing so fast and with super-fast technological growth, it's hard to anticipate where things could go in the next few years. We might be expecting a recession, but could be surprised with World War 3 instead.
I think that ultimately those who live in largely self-sufficient homesteads or sustainable communities (like the Amish), are best-positioned for any type of scenario.

A global approach to addressing a recession would involve coordinated efforts between countries and international organizations. These may include fiscal stimulus measures, monetary policy coordination, trade policies that promote economic stability, and cooperation in research and development to encourage innovation and create new economic opportunities. In addition, support for developing countries, social safety nets, and sustainable development initiatives can be essential components of a comprehensive global strategy to mitigate the impact of the recession. As global trends evolve, economic challenges are expected to become more complex. Factors such as technological advances, climate change, and demographic changes are likely to contribute to these difficulties. Adapting to these changes will require innovative solutions and international cooperation.

Recession and inflation are bad for the economy but not for you if you know how to use them in your favor. In times of recession people sell off their assets and land due to unemployment and financial instability. This is a hard time for most of the people and unemployment creates fear within society that there will be famine so people try to save their money as much as possible. This causes a lack of cash and a drop in demand in the market which declines the price of gold, silver and real estate. I think this is the best time to buy an asset as you can get it below market price if you keep your eye open for such an opportunity.

On the contrary wealthy people use inflation in their favor by taking long term loans from the bank and using those assets to invest in assets like gold, silver and land that have small effect from inflation. The value of their wealth increases when their debt remains the same in number but drops in value.

It is really just that a foolish thing on making yourself that totally relying about government aids on which we know that it isnt something that you could really depend on for the rest of your life.
Not anytime on which the government could really bring out solutions in speaking into these common situations on which it does really need up that budget on which we know that not anytime that gov't could be having that kind of budget on supporting or making some aids into those people who are really that been affected. Therefore, it would really be that so wise that you should really be acting accordingly or simply you would really be that finding ways or methods on making yourself that sustainable if these economic problems would gotten worst.

How? Find another sideline on which you could be able to make earn more money aside from your day job on which you could really be able to double out your source on which you could be able to
save up or something that do talks about having investment or business on which it is really that always been smart on trying out to deal with things that could potentially give out that kind of benefit
but of course you should not make yourself that too optimistic because chance of failure is there because of the risks but well everything on this world does have its own risks but of course you wont really be
getting something if you wont risk in the first place.

We should be always ready and prepared for the worse because the era that we are now is a jet era when things seem to come to us so quick that we have ever expected. There are conflicts everywhere just like we are seeing between Israel and Palestine people, Ukraine and Russia etc. Preparation for what might comes is what is going to safe us from recession or whatsoever. We need to have different sources of income for us to be bouyant and stand tall so in case we are faced with economy meltdown or something else that might affect our financial capability.

Recession and inflation are not simply words; they are harsh realities that severely affect communities and families. And of course, preparation is important. You cannot simply wait for the government to make the necessary changes. No, you must act and own responsibility

Savings, investments, and financial planning are the weapons and tools you need to have in your toolbox. Having a sound, unbreakable plan is even more important than simply having one. It involves comprehending the subtleties of international finance and the complexities of the economy. It all comes down to being organized and aggressive. It has to do with group consciousness and group action. It all comes down to doing the correct and required thing. It all comes down to intelligence and strategy. It's all about assuming command and responsibility. It's about doing what needs to be done, doing it right

When a country's economy is deteriorating due to decreased activity in the trade sector, of course starting a business is not a good idea unless we have the skills and can sell services, but for a trade business it will not be good, quite the opposite.
There are several things that we can prepare for things that we don't want to happen and one of them is to prepare early and start saving so that we can meet our needs in the next few days when bad things happen, and several other things that we can prepare for are by look for several sources of income so that we don't just focus on or expect from just one source of income.

It is indeed very difficult to be able to build a business when economic conditions are experiencing a downturn, we have to really think about business ideas that can attract other people to look at the products we market, because during a recession of course people will think more about saving on their expenses. in order to be able to meet their needs and if we create a business that has very few enthusiasts of course the business we build will certainly not be able to run well so we have to close it early before we can make a profit from the business we build.

Starting your own business is not some golden solution to everything, especially not during the recession. Even during the "good times" the vast majority of start-ups fail to get traction and go under. And attempting to start a business during the hard times, could turn out to be the worst idea ever. When facing financial difficulties and/or dealing with unemployment, people will not be looking to spend their money on any new products/services, they'd be cutting down on all expenses as far as possible.
Obviously it all depends on the type of the business. If you somehow manage to offer something that allows people to save more money, recession could be a great time for that.