Topic: Recession? How to face It? - page 6. (Read 1188 times)

The impact of the recession will truly be felt by all groups. Not only by the lower classes but also by the upper classes. Large companies definitely also have higher concerns. Especially if the company is an electronics manufacturer or something like that. Because their consumers will definitely decrease when the Recession occurs. Because people will start buying the most important things first, such as food needs.

Even during a recession, many large companies cannot survive and go bankrupt. Many large banks have even gone bankrupt at this time. And that is proof that the recession really has an impact on all groups. But it is still the lower classes who will feel that life is not easy the most. The impact on the lower classes will be more severe.

Exactly. Whatever happens, things will never get as bad as in the past, say, during the great depression in the 1930s, when even people in developed countries were becoming homeless en masse or even starved to death.

But still, it is better to be prepared than sorry. Moving some of your wealth into more recession-resistant assets is probably a good move. Whether Bitcoin is one of those assets - time will tell.

I would guess that when you are wealthy, inflation would definitely help you if you are smarter about it as well. Inflation hurts people who do not get their income growing while their spending grows, if you are making 500$ a month and spend 500$ a month but due to inflation you spend 800 a month and yet earn 700 a month, that's the issue. Majority of the world had that during the inflation that happened recently.

However, if we are talking about a business person, they could earn more because they are selling something and yet they are the ones who do not pay enough to their workers with whatever the inflation rate is. This is why businessman have a chance to earn more during this period and they should be able to do that if they are given the chance. I personally believe that's the most probable situation given what has happened.

Everyone is of course very worried if this condition occurs in the country they live in, but in my opinion life will continue as it should and we must be able to survive whatever the conditions are. I agree with you, we must be able to overcome it by looking for various solutions to overcome the recession the most important thing is that we must still be able to meet the needs of our families.

It is not simple to survive in a country when there is a recession. Even if we say you're wealthy, those folks will be concerned about the impact on their asset firms. To be honest, that is also a source of anxiety. Because a big sum of money, as well as profit, can be lost.

So, if I were the businessman, I would be concerned as well, but I wouldn't show it. Of certainly, I will find a solution to this type of situation. This is the time when everyone touched by the recession must truly endure.

Thank you friend. U are right. It seems that I have forgotten the difficulties that are worse than the recession, namely the Covid-19 pandemic. At that time, the economy was even paralyzed due to quarantine in several areas. If we compare economic paralysis and economic recession then I think Recession becomes more trivial. It's just that we still have to have thorough preparation.

And we have indeed learned from the pandemic that came several years ago. So we should be able to overcome the recession more positively. The news media continues to exaggerate it. But sometimes this makes people more prepared when a recession actually occurs.

There is this forecast in my country that this is going to last up to the end of this year. The price of most things is going to be up which will be led by the gas prices. And when it does increase, everything goes on high and that trend continues until something happens globally.
I am facing this by having myself set mentally and not breaking down because being anxious about everything now is going to lose my sanity.

I've done this, I've got subscriptions that have been sucking a little part of my monthly income and then I found it not useful anymore since they're all for entertainment and not for my personal growth and fitness. Remember the comparison about a ship that has a little leak, despite being big in size but with very small leak, that's going to put it down just as us with small unusual expenses.

In some cases, recession also affect some investment especially physical investment. In most cases, when recession hit the population, it will definitely affect most business owners as passive income may not be made from same investment as before. 

Getting a recession-proof investment isn't look easy. I think online investment is highly important here. Getting done with Bitcoin can be a good recession-proof investment for you.

This is a very important point that could help during recession. Money management is highly important during recession.

Many media blow up the news about recession or inflation because it can attract readers. They get advantage if many people read/watch the news.

Indeed. The news can make someone to feel panic/fear if he has no good mentality. But if someone has strong mentality, he never feels panic but he must try to get the solution about how to deal with the recession. TBH, I never feel panic/fear about the news about recession/inflation. I believe we must have the ability to face it. As long as our government wants to try their best to support us and every people can cooperate together to face it, we can to face it well. We already have the experience about facing worse situation together, it was when the pandemic happened. So, we don't need to panic because we already have the experience about worse situation previously.

Since you are already anxious about this looming recession, you might as well be ready if it comes. There is so much bankcruptcy going on these days, people are losing jobs so it's best to be prepared. A plan B should be in place for you and for your family. There will be chaos actually, so it's best to be prepared when it comes to food security. Spend less as well.

Some are saying the recession is already here. If you haven't felt the prices going up yet, then maybe you are not buying your groceries yourself.

Have stable passive income and enough your saving fund seems not really impact with your economic condition, but we are not have dependent financial and working for getting income in daily day and need to be smart manage with our income when facing recession. Indeed have recession and inflation values of fiat or not we have prepare all bad possibility in the future by manage well and have balance between income or outcome. Pus few percent of income or salary for emergency fund where unpredictable thing will happen in the future, to make reduce of recession or inflation we have use income and take increasing trough investing in property or cryptocurrency.
All manage well with financial depend with how much capital earn from working, I don't have ideas with small capital how to make it balance for daily needed, investment until for emergency funds.

We should not rely too much and hope on the government to solve economic problems because I am sure they are also thinking about this, and only time will tell because economic problems occur in all countries.
And now we are required to be smart and independent in responding to the economy, not to lament the situation or only expect rewards from other people or the government, because there are limits. And we also have to have a job or those who already have a job have to have a side job or additional income so that our economic problems are okay, so find our talents or abilities to make money and also don't be too wasteful and don't buy things that are not needed.

Help in what way?
Capital or providing job-related information that they need?
There are many ways we can help those below us.

When you don't have a steady job and are mostly unemployed and don't have a steady income, it can be quite a difficult situation.
But as long as they are still enthusiastic and want to work, as long as it is a good job and earns, of course it will be a way out.

Or think about investing gradually with small capital, that's also one good suggestion.
But choose the type of investment that is safe and can provide greater benefits within a period of time that is not too long.
Like buying Bitcoin or top altcoins like ETH, it will have good potential in the future.

You are right about all that, that no one cares enough about us apart from ourselves. But there is a small hope for me that the government can handle all existing economic problems so that people can be more calm in living their lives and can get prosperity, because after all I am a citizen who does have the right to demand and get all of this. and in facing this difficult situation, I have to face it as seriously as possible and full of responsibility because the capital I currently have is quite limited so I have to keep turning my head around and trying everything that is considered good to be able to find a way. get out of all this. Apart from that, in facing situations like this as much as possible we must be able to make good use of every opportunity that comes and never waste it.

It's a little scary to look at the situation and think about this recession. but however we can't run away from all of this. I will not blame people who say the solution is investment and definite income. So what if they are already unemployed and it is even very difficult to earn a little money, how about they think about investing? Yes, I believe we have to think about this to help those who are less fortunate under us. it will be a kindness that will be remembered by them.

Well, I think that's up to each of us of course, but considering the conditions of world market uncertainty that are becoming increasingly evident before our eyes and the impacts are already starting to be seen, I think everything must be prepared from now on and whether it's time or not at all because this will also have an impact on whether each individual is ready or not in the end and one more thing I want to add is that Bitcoin is not a bad investment because Bitcoin has been proven many times so that it increases more sharply when political and economic issues develop.

People who are very ready to face any conditions in their lives, including recession conditions, will certainly not think about it as a complicated matter. Because basically they are very ready for anything that will come in their lives and will continue to try as wisely as possible to strengthen their economic and health conditions forever. But we also have to know that not everyone is able or ready to face this so some people may still see this as a very complicated matter to face.

The difficulties that come must be faced wisely so that we can be in a better condition, because facing difficult conditions there is no word for relaxing in it. And it would be much better for anyone who wants to prepare themselves early to face the difficulties that sometimes come unexpectedly in life. So I think there is no reason to remain silent in any condition now, except to continue working to prepare each of us to become more mature in facing every difficult situation.

That's what I mean, a lot of it is about the recession and how to get through it now that we're in a recession. Many people even complain and blame the government for causing them to have this difficult life. Why do many people still live very leisurely lives and not worry too much about what is happening while we constantly complain about everything? Has anyone ever asked that question? It's all our fault for not preparing well for our lives, we have been too subjective about life and forgotten that without a recession, unwanted things can still happen to us.

Certainly, a recession doesn't mean much to someone with passive income but depending on the type of passive income, the income stream may be affected by the recession. For example, someone who earns rental income by buying and renting a house will have passive income but if the tenant loses his/her salary or job there will be disruptions in payments. Since this person cannot be removed from the house immediately in accordance with many laws, this passive income will be negatively affected for a few months. On the other hand, for someone who earns passive income through dividends, their capital will decrease and their dividend income will decrease after the companies lose value and shrink. In other words, it would not be correct to say that someone who has a fully passive income will not be affected by the recession.

On the other hand, it is absolutely very important to have physical cash in such a period because cash is more in demand during the recession. In addition, since banks are negatively affected during the recession, serious problems such as not being able to use all the savings in the bank or not being able to physically convert them into cash are also observed.

Unfortunately, those who feel the most serious impact during the recession are unfortunately salaried employees because companies undergo various downsizings and many people lose their jobs in such periods. On the other hand, while there is no increase in the salaries of individuals who have not lost their jobs there is also a decline in purchasing power due to the increase in the prices of all products by recession.

If you have accumulated bitcoins many years ago, that investment is actually saving you from a crisis and possibly a recession because its value has increased many times over. If you invest now and deal with a future recession maybe in the next 10 years, that's also a good idea, because in the long run, bitcoin will increase significantly.
But if we're talking about what's happening and what's about to happen, I don't think bitcoin is going to help us. Many people even have difficulty finding income to cover their daily needs, how can they invest in bitcoin and what guarantees that bitcoin will pump next month? In the short term, bitcoin does not help us fight a recession, and it could even be negatively affected if a recession occurs.

The economic situation during the Covid pandemic is completely different from the time of economic recession. Don't be mistaken that bitcoin will also increase in price or react positively like during the Covid pandemic.