While we are focused on Crypto and other hot trends let me remind you of the 'Recession' in case you have forgotten or never heard of it. The recession is coming probably will start in the first half of 2023 and can be even hit earlier and trust me you wouldn't want to be unaware of this term.
A recession is a business cycle contraction in which there is a massive decline in Economic activity affecting the whole world and its people. During this time unemployment rates rise, jobs decrease, businesses suffer losses, consumer purchase decrease, etc. This also leads to a rise in inflation.
Signs We Are Close To Recession Days
Jeff Bezos alarming people about the Recession is no Joke, he is one of the most successful Entrepreneurs of this Era and we shouldn't neglect his words.
Unemployment rates increasing people losing jobs is the major signal of recession. A prime example is Twitter, and Meta, even in India many big stable companies including Byjuus and Zomato cut off their employees even Amazon did it. You know employment matters a lot and if someone with a job loses it, it affects a lot of people connected to them directly and indirectly contributing to the Recession.
China, the leading tech and business sector has been slowed down to a great level due to Covid and recently even Apple company suffered a manufacturing decline and so it has been increasing its branches to many places all over the world.
War, and Covid these two factors still affect global business, and when global business goes down, GDP decreases and we are in a Recession phase.
What Can We Do To Minimise It's Effects
Save money in cash, no Crypto or stocks or any type of bank investment work, as this time everything goes more down. And if the Recession hits early Crypto can go down more.
Stop yourself from buying things that cost a big amount. Jeff Bezos suggested not to buy Vehicles And Electronics like TV and Refrigerator. The recession really creates bad days and a lack of money during this time will create a very big regret.
Hustle more increase your source of earnings.
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To survive a recession without heavy casualties best option is to save. We humans are good at adapting. Calm your nerves and save cash and spend wisely.
And it is a global Phenomenon each and every country will experience this. How people and the government handle this one will be real challenge as we are back to the same level in which we were earlier post Covid.
If you know more ways to deal better in Recession feel free to share.
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It is hard to fir us to do such things for recssion even here in our place they do that thats why small people are so much affected
Life is a downside rollercoaster now for us, I can only hope good days will come.
I am afraid now. This is first time I am learning about recession and it scared me alot
If you have a job and savings no need to get scared much and it's not life threatening, you will just have to live in more simplicity.
I remember in 2020 when Covid hit and almost made me stressed because I almost lost my job. but now I'm grateful that everything is back to normal even though covid is still lurking 😥
That's good to hear that situation turned normal, I just hope everyone's situation turns normal as it was earlier as personally I am on a edge now don't know how long can I bear it.
Just reading your title gives me 😬😬😬. But what I have learned since covid happened is saved money
That's great I kind of wanted to spend a little got fed up saving only, lol. But these situations don't give me any hope for that.
Here in my country Nigeria, we are already in recession even though the government refused to announce it
Damm that's too bad , announcing it early can minimise the sufferings of people to a great level.
They wouldn't bro. Election period is almost here
Heh-e, election above anything else their number one priority no matter whatever happens to their people.
Thanks it fir the sponsorship sir. I really appreciate
Oh my God This means that even worse days await us. god help us
I guess the tests of our life hasn't finished at all, be prepared.
Definitely dear friend definitely 😔
Keeping ahead and updated with such news is a must. Good you share such information. Hope we dont face another covid time in the form of recession. Spent wisely - I accept and agree with this fact.
Yeah if covid strikes again that would kill business and jobs more, making people and economy suffer more.
Amongst all, Unemployment is the most basic factor that's affecting recession nowadays, covid 19 just came to add to it
We already have high unemployment rates and now it will be more.
A horrible situation about to hit . We are already uncertainty in Crypto but your analysis frightened more that worst is still on the way . Scary things!
After covid it looks are problems have only started for us. I hope this doesn't hits hard we already have suffered enough.
I feel like the recession has already come. Cost of living now has become too ridiculous.