Topic: Recession? How to face It? - page 5. (Read 1222 times)

In my opinion the upper class is more aware of the recession, the effects received by someone who has money or assets is more felt in a movement of business values or the value of their wealth, so they are more anticipating what might happen when the economic atmosphere becomes a recession, because they are Feel more impact and therefore they always take preventive actions, some of them have mentioned.

On the other hand, the lower class people, on average, they do not know the recession because they work and live life as a work for eating, and as you explained, they are quite difficult and only focus on working to meet their daily needs, they certainly also feel The increase in prices and conditions is increasingly difficult, but on average does not understand what is happening, and what is the economic flow, they are only able to feel their conditions.

Maybe you will be more understandable in the end everyone will address himself first before saving others.

Having an emergency fund and has a lot of income is good for a recession situation or economic crisis, having cash for one semester needs is very good for financial health when recession, on the other hand, don't be able to depend on emergency money because there may be a lot of funds not suspected that sucking money quickly runs out, then the importance of having other ability to increase other sources of income.

The effects of a recession are so bad that it's important to have an emergency fund and multiple sources of strong income within your means. Individuals need to think long term when it comes to investing and diversify holdings as well as be realistic about how much risk they can handle. So there is no danger of the economy collapsing due to various crises including recession, even if it passes through difficult times in the social and economic field. To help prepare for job loss or other financial setbacks aim to build an emergency fund that covers three to six months of living expenses.

This recession is actually really felt if you live in the lower classes. But it doesn't feel that way if we are in the upper middle class. Because usually the middle and upper classes already have preparations to face a recession. Because usually they already have emergency funds and such. In fact, they also had investments in various things before the recession occurred. And they also have sufficient cash savings. One thing that high-end people may complain about is the lack of customers in their business.

The middle class tends to be more frugal when a recession occurs. But they still have a comfortable life because they already have quite a large income from the start. In contrast to the lower classes, even before the recession occurred, they were already having difficulty surviving. They struggle every day to buy daily food. They are eager to make preparations but the money they earn is not enough to save. their income is just enough for their living expenses that day. So for the lower classes everything will be more difficult. They have experienced difficulties from the start and with the addition of economic crises such as inflation and recession, they have even more difficulties. And very few people pay attention to the lower classes and even government assistance rarely reaches them. Even if it arrives it is no longer intact.

I think one of the main impacts of recession is when a company lays off its workers. So indeed that when our job are still stable or the company, we need to take advantage of it by working properly and harder. Who knows, we might get promoted and it will now be hard for our boss to remove us.

We also need to save up more money as we can, just in case the bad thing happens. " Dealing " can also mean to solve the issue but thinking too much without any actions taken are useless and it can only worsen the situation. Not all who are like that are lazy but some can also make a move. Things that we spend money is the thing that we need. It's just that some are more important. We need to prioritize them first especially if our budget is tight.

Unfortunately, many people live below the poverty line, from paycheck to paycheck, and they simply do not have the opportunity to save something. In order to register at the labor exchange, you need to have a lot of certificates, and there they give the lowest-paid jobs. Thus, a person is simply limited in his financial possibilities.

Unfortunately it doesn't. We do expect it to change but that doesn't mean that it does, it doesn't change at all. We have to face the reality is that we are going to be the simple humans that we always were, even though some things change and the technology keeps improving, the human mind stays about the same and that is always going to be the issue.

I mean we used to fight with sticks now we have nukes, but it is still the same draw to violence in some people that we always had since the early days.

Humanity is "capable" of drawing conclusions, like look at world war two and say that was a bad thing, but also it is capable of ignoring those conclusions as well, they always keep finding a "valid" reason for chaos and war unfortunately. No matter who you ask, during a war, each side always will find themselves right, and will never end up backing down and saying "war is bad, we need to figure out a different way of doing this and getting what we want", that's sad reality.

However not many people are going to be able to take precautions against the upcoming crisis as they live their life as if economic crises do not happen, and by the way the same is true when it comes to businesses.

So when things begin to get rough those people are completely surprised this is the case and the precarious balance in which their life depended disappeared, and now they have no way to deal with the new circumstances they have to face,  and only a minority of people plan on how to face those conditions and as you may guess they are the ones that tend to do better due to the preparations they took.

Can we really faced recession individually without being adequately prepared for it, there are many factors that would have constituted the  incident with how recession occur, some of these are not really what we can tackle independently than having a collective efforts altogether because of the nature of it indepth and cause, we all know that the use of agricultural farming benefits and advantage that could have helped in this isn't invoke as before because of oil boom and other human political activities that have deviated them from concentrating on the remedy to recession through farming.

i completely agree, there are major obstacles to consider such as the surge in food expenses and faulty agricultural plans. When facing a time of upheaval, possessing a grasp on financial aptitude can enable us to make informed judgments. As an additional measure, we ought to urge for better policies that uphold farming without endangering financial stability. By interfacing with local and national authorities to press for beneficial upgrades in these issues, we can create permanent resolutions.

Honestly, we need to prepare for the worse because more to this might come again or become worse than what we are seeing now.
The recession might become worse with time the way I am looking at it that is why is we need to make sure that we make a big plan for ourselves from now for the future. Things might not be easy in time coming looking at the way the price of food and other things are getting hike. Population is increasing and the production of food keep decreasing due to poor policies that is not being enforced to help agricultural products grow better.

Government doesn't have its own money. When they give it to one, they have to take it from another. Of course they could also just print more money, but that's like taxing absolutely everyone on the money they've already paid tax on.
I agree that sometimes governments need to take action, especially if unforeseen events occur, but most of the time, governments' actions are what get us in the mess, being high inflation and/or recession.

Panic and fear are definitely there. we experience this because we don't want to adapt to changes in the existing world. Recession will continue to happen whether we are ready or not. the most we can do is to do something we can. for example, we have to start from the bottom again if we fall, or we always anticipate investment if we don't fall too much. this is my strategy for dealing with a recession.

These advices are only applicable to those who have the privilege to do these things you've mentioned.

The people who doesn't have any stable job, or a job that pays well can't do these things you've said, because they are always providing food in the table using their whole salary per day, nothing left for savings, bills, sometimes even for their children education. The right thing to say is how the government and us should help each other to face the recession just in case, because not all of us can face the recession alone.

It’s very difficult to say anything for sure, I also used to think that we live in a fairly civilized world that should strive to avoid war, but it turns out that nothing changes for humanity, each generation needs to go through this on its own, no one wants to learn stories.

Therefore, I now do not dare to say that humanity will never again face one of its worst times. Everything is fine when it doesn’t affect you personally and you can think about everything in safety, but if you are in the epicenter of events, then everything changes.

I want to believe that humanity is capable of drawing conclusions from studying history, but I cannot be completely sure of this.

In reality, a country experiencing a recession is extremely concerning. Of course, those who are harmed are the poor, who have few sources of income and rely solely on the salary received from the company if they are employees.

What if you are not an employed and rely solely on side hustles or extra income? You then have a family and children to send to school. We should be prepared for such a situation, whether we realize it or not. The essential point is that we won't be concerned now that we're aware of the problem, right?

There should be an amount a person has who is going to use in his bad times. I say about myself, I stored the amount for at least one year because I know about my country's situation that it will be in any time's danger, that's why I prepared for it from the very start. The same in the case with any other person who didn't have a jobs, and he didn't have anything other except his one eating. Then if he didn't prepare himself for it from the start, it would be too difficult for him to deal with the inflation and to deal with other difficulties in a country that can occur at any time.

In my country price of goods rises by more than 100%. The situation is getting worse for the poor. There is enough food but people don't have the money to buy it. Food prices spike but they are getting the same wages. Life has become difficult for most of us. The unemployment problem makes the situation extremely challenging for a large chunk of the population. I don't think there is any plan B for these people. Most of them will perish.

Not only really just that limited to Bitcoin but also in other business or investment as well like real estate or whatever business that you could really be able to done with. Making no move
or having no plans on trying out to back up your financial and just simply keeping your money at the banks would never do good for you specially on running years to come. We do know on how
inflation works and on the time that recession happens then for sure you are fucked up.This is why it would really be always that ideal and wise thing to be done that you do need to root yourself
and make out those sensible decisions which you do look that it would really be beneficial for you once things do happen.

Might not last forever but it do becomes worst over the years passing by. 
This is why it would be wise that you should not make yourself get caught into the situation that you would really be struggling in terms of finances.
This is why back up plans would really be crucial most of the time.

It's important to know what to do and prepare ahead of it, but knowing hard times does not last forever.
Just like what you mentioned, people in this situation should stop living luxury life and accept the situation at hand although most people can't just stop leaving their normal lives in situation like this. But in my own opinion people facing challenges like inflation should be more productive, learning skills to advance their career such as web development, software development.

While you and I understand the positive aspects of the initiatives you mentioned, there are many who do not think about tomorrow.  Any disaster can happen anytime in life. We all should think about the future.  Just because I'm good today doesn't mean I won't be bad tomorrow. Along with being good today, I have to think about tomorrow.  You have to prepare yourself for this. You have to increase your work efficiency, you have to be frugal, you have to increase your interest in work.  And you said that in this case, I think that any one work should be done with attention. If the attention is in more than one place, no work will be good.