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Recently, the economic news media has always been busy with discussions regarding inflation and recession. Because perhaps this is indeed a global problem or a problem that is being faced in many countries.
Actually, news like that has two impacts on news readers. that is
1. Panic and fear
2. Be more alert and make preparations to face the recession itself.

Personally, I am actually sometimes influenced mentally, namely panicking and a feeling of fear that arises after reading a lot of news related to the economy which is experiencing a prolonged crisis which is causing inflation and is approaching recession. Several countries have even been declared to be in a state of recession themselves.

But I realized that panic and fear will not solve any problem. So I changed my mindset, namely making more effort to study the recession itself and how to deal with it if it also happened in my country. Because after all, I want to continue to have a strong economy even when there is a recession.

What I understand about a recession after reading several references is a prolonged decline in economic activity over a certain period of time. Which then causes the following things:

1. Unemployment Increases
2. Consumers are decreasing because they are becoming more thrifty and reducing their daily shopping allowance.
3. The investment zone also experienced a decline, especially from large companies who became more careful.
4. The increasing difficulty of running a business or what is usually called business uncertainty.
5. Financial instability on a large scale, such as many banks experiencing bankruptcy and the like.
6. Panic arises in the market as prices begin to become highly volatile. An example is the many price increases that have occurred irrationally recently.

We need to know more about what a recession is so we can make preparations to face it. Because if we are not ready then we may have difficulty maintaining our own economic stability. Because this recession can also increase poverty rates due to decreased levels of social welfare and even mental health problems can also occur. Like many people who are depressed when facing an increasingly difficult economic situation.

To face all of that, I think we need to make preparations in an effort to face a recession, namely with small steps like the following:

1. Start planning to prepare emergency funds for us to use when unexpected situations occur.
2. Start reducing expenses by adopting a frugal lifestyle.
3. Start looking for additional work that can make us have additional income.
4. Increase our insight into financial education. So that we can be smarter in managing finances.
5. Start preparing yourself to face a career change. By learning more skills in fields that we haven't even mastered before. So that we can be better prepared to work in any field that we can use to get more income. Because looking for additional work will not be easy if we don't have many skills that we can use in competition in the job market.
5. Maintain physical and mental health.
6. We have to be more patient and also have to push ourselves to become people who can adapt more quickly in difficult situations. Because people who cannot adapt are the ones who will lose in competition in a market that is more volatile when a recession occurs.

But we also shouldn't push ourselves too hard which can make us mentally exhausted and experience stress or depression. And we also have to realize that recessions are a natural phenomenon in the economic cycle. So don't panic and keep doing your best.

Hopefully you all can survive when the recession comes. Be the person who wins and can still maintain financial stability well. Good luck.

Recession don’t mean anything to you if you have enough passive income from your investments. Having some hard physical cash is important too. If your only cash flow is your pay-job, then you can worry a little bit because if you get fired, you will lose your cash flow but you’ll still have to pay the bills (rent, electricity, water, internet etc…) So you either have to have a side income which is mostly recession-proof or you need to have some cash so you can pay your bills in case of an emergency. If you don’t have any of these back up plans then the recession will ruin your life. Alternatively, you can cut down your expenses too. Just unsubscribe from the services you don’t use much.

Yeah income stream is very important. I have some gov. pensions . Some mining income. And lastly a signature campaign here.  I normally don’t do a signature but times are a bit hard so I needed more income.

In a recession, the country's economy shrinks, and the unemployment rate increases. We should be proactive in dealing with these kinds of emergencies. In a recession, it is very important that you have a somewhat steady cash flow, limit your expenses, earn more through different means, and diversify your investments (Bitcoin, stocks, real estate, bonds, etc.). It is also necessary to have liquid investment. Emergency funds, rental income, pension funds, etc., are important in fighting difficult financial situations. Adapt to the situation quickly and have a problem-solving approach. " Where there's a will, there's a way". 
Hopefully, all of our hardships will be over in the coming months.

The advantage of getting to know the status of your country's economy is that you can prepare. But sadly, too many citizens don't prepare for such situation because all they think is that they're living a happy life and tomorrow's gonna be fine. And there's no need for them to worry about tomorrow's situation. Then pandemic came and everyone starts to look for some survival strategies especially those that don't have jobs and have been laid off. This is the importance of having an emergency fund of at least 6 months and more. Before it was like okay to have 3 months of EF but then when things have changed, it should be more and prolonged. What's being lowkey on a recession is the emotion effect and impact that it brings to everyone that's having tough times. Yeah, you can all of that money and savings and needs but when you're hit mentally even having those, you'll have hard time to get up.

On a personal level, I can only advise that people be more optimistic about things in this life, these difficulties are only temporary and we will get through this together.
The issue of inflation and recession may have been talked about a lot recently, but I think we need to have an attitude of being prepared and ready for every situation. Although this is undesirable, we still need to make a lot of efforts to get out of this stage.

#1, too late since the unexpected situations already occur.

#2, not all people can live with frugal lifestyle, most of people are forcing themselves to live with luxury lifestyle.

#3, it's easy to say than to be done.

#4, people are scared to invest and they always think every financial assets are haram.

#5, they don't want to learn because it's boring for being consistent in a same thing, they're looking an instant profit like invest in ponzi scheme project.

#6, that's true, but not all people will survive even they adapt to the current technology. Example you're a reseller from X company, X company sell a product to you $10/each, but they're also sell it to other people $10/each. It's mean you need to sell higher than $10 to earn profit, how it's possible to compete against the company that can sell $10/each and still earn profit?

Actually, this point is one of the things I am working on. I'm learning more things at the moment. Because I realize that one skill alone is not enough if we want to win in today's competitive job market.

It's just that the most difficult obstacle to face is feeling lazy and always putting off work. Even in the learning process, this is the case. So one of the things I'm currently facing is feeling lazy. Sometimes in the initial period I am enthusiastic about learning new things but then I always stop halfway due to being lazy and inconsistent. I know this is my weakness. And I'm trying to fix it now.

But then I found out an easier and more fun way to learn new things. Namely by studying business opportunities in the fields we like. For example, I am a person who likes taking videos in real life. And I developed it in a direction that could produce results by learning to become a video creator on social media. Even though I'm still learning. But I'm sure someday it will pay off.

In our country, we are not in the stage of recession, but our average unemployment here is actually very high. And many degree holders here accept jobs that are not suitable for their completed courses in the hardships of life instead of just hanging out at home.

How can it be that if our country has entered this recession, there will be more and more people who will find ways to survive in situations like this? I think that two sources of income will probably not be enough for sure at this time. Our source of income should be at least three or more.

My country has a pretty bad economy, and we've been through very high inflation, so generic news about recession don't affect me at all.
The consequences of a recession seem accurate in the original post, but things to do aren't all similar to what I would do. Some emergency funds are good, but if your currency is likely to experience hyperinflation, it's important to think of keeping those funds in something else (a more stable fiat or perhaps Bitcoin). As for reducing expenses, I wouldn't do that because it's that kind of attitude that makes the recession worse, actually, as people reduce expenses and stall the economy this way. On the contrary, I spend when there's something nice or useful to buy, and think of it as my contribution to trying to stimulate the economy by keeping the money circulating. As for education and additional income source, it sounds reasonable. Maintaining health is always a good thing to do, and being patient should be a part of that.

Living within means is always ideal even if there's no recession, we should start investing now and continue to make our money grow.
Live with contentment as well, and buy the things that you only need, in my country we are already poor economically and we are forced to look for alternatives on everything.
If there's a big recession again, we should be more prepared and invest wisely because not all can survive the recession also look for other source of income as much as possible.

I think people should change with the times.... there are lots of opportunities out there, if you are innovative enough to find them. Look at the basic things that do not change and focus on that. (People need a roof over their heads / People need to eat / People need basic services like their hair being cut .....)

We can also not rely on one income, but finding two jobs ..when unemployment are on the increase... might be very difficult. So you will have to think out of the box... and create a job out of a hobby. (Example : You might like flying drones... so rent your service to people who might want to use drones)  :P

Preparation is very necessary for anyone in a country that has not yet reached the recession stage. Because when a recession actually occurs, it will not be easy even to maintain financial stability in our own lives. So I think it is very fortunate for people who are currently still in a country whose economy is still under control and has not experienced a recession. You have to make preparations now before it's too late. Because I read that some users on this forum are even in countries experiencing a recession, aka the economic crisis there has been going on for quite a long time. So now they can only struggle to survive.

When a recession has occurred, finding additional income will not be easy. Because there are many people who would do the same thing. But I think what the OP said is correct. It's just that it won't be easy to do. Everything requires determination and high motivation to do it.

Is there a competition for the longest post? :) I'm tired of reading all this. It could have been a little more concise.

No matter what the media says, you should always act on the opposite principle and should not take their words as the truth. This talk about a recession looks like a way to instill fear into people's minds. The crisis of 2008 comes to mind, when all the media around us shouted that everything would be fine with us, but in the end everyone screwed up with their forecasts. The media is empty chatter and is not at all a source of correct information. Their goal is not to convey the truth to listeners, but to attract people's attention in order to monetize it, for example, through advertising. That’s why hype topics are most often used that touch people’s emotions, and this is the best way to attract attention.

It's too late to prepare for a recession if it's already here. It was necessary to prepare for the recession long before it began, when the economy was on the rise and to accumulate financial resources. This is the same as “it’s too late to drink Borjomi when the kidneys have fallen off.”

Not everyone will survive a recession. And that's a fact. "Weak hands" are doomed. And these are the rules of the “game”.

If you have family to feed, that is gonna be nightmare for you, trade stock and crypto on lunchbreak, and win the trading darwin award competition, to earn a living!
for doomday prepper, and alone guy, they have nothing to loss, so a big recession would make their already negigible remains look even more negigible.

When defining recession, there are two types of recession in economic terms. Technical recession and real recession. Real recession definitions are based on NBER (National bureau of economic research) data.
Based on NBER data, for a real recession to occur, there must be a contraction in production, employment, consumption and income at the same time. A technical recession can be defined as a contraction in GDP (Gross Domestic Product) in two consecutive quarters.
Based on technical recession data, a technical recession is related to national income, while a real recession is long term and has a much larger impact. In a real recession, monetary policies are seriously
there are interventions.

The 1973 oil crisis, the 1997 Asian crisis and the 2008 crisis are examples of real recessions. In the US, the 2020 crisis was a real recession as production, employment, consumption and income contracted. As soon as historical peaks are seen after the great recession, all stocks, commodities and derivatives are exited because very large corrections take place. In this case, I think there is no need to exit commodities and derivatives because the recession continues. If you are in a recession, i would not hesitate to invest. If you are dependent on one income during this period, you should definitely look for extra new businesses that will increase your income before investing. To be prepared for everything in life, you should invest when things are going well.

During a recession it's important to be proactive & make wise financial choices. It’d be smart to start by creating a budget to track your expenses & cut back on non essential items. Look for ways to increase your income such as taking on freelance work or a part time job. Build an emergency fund to cover unexpected expenses & prioritise paying off high interest debt. Seek out free or low cost entertainment options, cook at home instead of eating out & explore thrifty shopping alternatives.

Be savvy.

Like anything you do, you need to take a look if it's wise for you to spend with that money. Of course with food, we shouldn't let ourselves starve just to save.

This is like the time that we must be financial savvy because we're on our own at these times. Lucky you are if you've got parents or a partner that will help you with what you're dealing with right now.

But for a lone survivor or just alone in your family that earns money for everyone, you really need to lessen all the unnecessary spending.

The traditional way is to have gold so whenever the market crashes you become richer so the same can still apply even now because gold is still stable after a lot of economic crises all over the world. Honestly, if you are a middle-class person you will get stuck no matter what unless you found a way to make more money in a short time which happens for one in a million so all the remaining will become the prey of the crisis.

There is a lot of discussion going on all around the world about how USD is gonna fall after BRICS and others but still, I don't believe it is going to happen in the near future. And also if there is a change in the presidency then we may expect drastic changes in the policies which can postpone things further.

If we are talking about a global approach on recession, only you cannot face it, but if you're considering the way you could seek your personal interest towards not being affected by the consequences of this same recession, then you need to sit down and think on how you could live an independent economy, how you will be a producer and not a consumer and how you could offer something that will be generally acceptable to the people which will be your own source of livelihood, the more you're less dependent the more likely you're not going to be affected by the global recession because you've already prepared yourself down against such.

Well because during the time of difficulties, we just need enough to sustain our needs. Especially food, water, and energy. I remember during the pandemic, money was nothing. No one cared because what people needed during that time was their health and security. No one needs money, they need food. I'm telling you this because recession doesn't come for no reason, it happens because there's always an economic crisis behind it.

The best thing to do during a recession is to have enough to put in the table. A stream of income where you don't need to get out of your house. Enough to provide security to yourself and your family. Enough is enough. And after a recession, make sure you have enough money, because all the risk assets will be at their lowest and discounted best buys.

Michael Saylor has many ideas about people who want to find financial safety in the face of various challenges. One of them is by speeding up owning Bitcoin.
In my opinion, the way to deal with it is to have a lot of savings that are sufficient for the long time this condition lasts because when it comes, it is difficult to get all the income.
The explanation in this cointelegraph video (https://www.youtube.com/watch?v=t5XAgL9rkpo&list=TLGGf6tx2T2-64gzMDA5MjAyMw) is interesting about the recession and Bitcoin.

There will be many difficulties that we will have to face and depending on each situation and each country, the level of impact will be different, so each person will have different plans to overcome the crisis. I agree with you, I believe that as long as we are optimistic and always remember that these difficulties are only temporary, I believe we will find the best way to overcome them.

People always come up with solutions, but they all boil down to finding ways to increase income, save...I think everyone is aware of that, but it depends on the area we live in to make the best choice. As long as we stay calm and optimistic, we will always find a way to overcome no matter how difficult it is.

Good advice. The good thing about it is that most of it I already do, so I don't have to start doing it to prepare. If you start saving and diversifying sources of income when there is no recession, when it comes you will obviously be more prepared because you will have accumulated more savings and investments than if you start shortly before the recession begins. Also, times of crisis are good times to buy on the cheap, so you can even take advantage of them.

These 2 conditions have become shadows that are quite attached to my mind, and I sometimes reflect on such situations. Panic and fear are clear because I am not from the upper middle class so panic and fear require us to be able to take advantage of the situation while it is still under control. As for preparing oneself for the worst possibility, it is also not fully supported, unstable finances to meet needs cannot guarantee survival longer in the midst of a prolonged recession.

Fear like that is normal, but it doesn't have to be mourned and makes us weak. However, right now we can still do various things and for whatever reason, don't make what we have achieved seem like it was in vain. The global recession will not happen all at once, it will be gradual, and in a gradual process, there will be many ways that both the government and the world can use to get out of the pressure.

if you do all the possible activities for getting good revenue then recession will have no effect on your situations. People are aware of the situations of country so if they don't think about their future then surely it will be their mistake.

Investment is the only way to be able to continue your daily routine in a well manner way. Those people who are utilizing their money with specific planning are also living a better life while there occurs a recession.

Look into your mean and if you think that some material is not necessary then don't he rushes towards that because saving is a way to minimize your worries while there is an inflation and recession.

Taking advantage of conditions that are still stable is a good way to prepare ourselves to face these two conditions, but it would be better for us to have some income so that we can survive if we have entered these two conditions. Everyone has a different way of dealing with a recession, there are those who think too much about this condition and there are those who live their lives by continuing to work to meet their needs and they will save money to survive this condition, and those who think too much about it will be lazy to do their work. so they don't get the income to be able to meet their needs. In my opinion, when facing conditions like this, we must continue to do what we can to earn income and spend the money we earn well and not use money for needs we don't need.

Op your are absolutely write and share very good information for Recession. Everything you point out is very informative and it will help us. You wrote that a recession is not for a long time but when it comes to how to face it is a big challenge and you provide very good tips but besides your tips, I want to add something more about how to face a recession and that is the online business.  Yes, online businesses or jobs are the effective things that will help us more from everything during the recession. There are more online businesses but I would like to share some of them.

1-E-Commerce business
2-Freelancer bussiness.
3-Consulting business
4-Affiliate Marketing Bussiness.

Many of you think about how it will help us in recession then let me explain it in a few words. Online businesses give us a good amount of money which will be passive and will help us in a recession the best thing about online business is that it does not need that high amount of money but a small one and needs a laptop or mobile phone and internet. In online business, we have the right to whether to expand it with time or limited and these businesses are independent of location you can run your business from anywhere in the world.

Starting online businesses before the recession starts, will expand and give us a big support in times of recession.

Recession or not, life is for the living. The underlined sense is to be preferential in expenses and opt for alternatives where and when necessary.

It is important to keep doing what we do to earn a living, but what's more rewarding is to invest in knowledge to gain experience in other money making ventures, hence, living more comfortable despite any economic situation.  
Trading crypto or doing some remote tech work is quite good and a venture into food business will surely make one too full to care about economy or recession.

A recession now is more of a mirage than the truth.    There are almost no real preconditions for a real recession now. Fear of recession is more an excuse for manipulation. Therefore, decisions should be made with a cool head, carefully thinking through each step.

If the person had an periodic income,he should ready to save the money for the future.Holding the money in the bitcoin will be the far better option for the saving.The bitcoin is the assets which can be hold for the longer period to get good profit by just holding.The recession in the economy will affect all the people expect the people who save their money for the future.We all know the things happened in the COVID,many people suffer to survive.Only the people who hold good money was escaped at that panic time.

Not only limited to Bitcoin or cryptocurrency but also in other investment or having a business as well on which it could really be able to save up your ass when recession hits and this is something that most people do really fail on doing so just because they arent mindful about those probabilities or chances that they would suffer when the time comes. They would really be just simply freak out and having those regret times on the moment that it would happen or on the time that they do realize that they dont have savings or back up plans on making themselves that able to survive.
You wont really be making yourself to be able to survive if you arent really that setting up those plans or back up whatsoever and just minding about the present and dont care about the future.

As much as possible then you would really be needing to be wise in regards with investment on which it is really that something
that it is really he only way on saving up yourself in terms of recession or whatever economic decisions you would really be taking, as long it would really be talking about
your survival on which you would really be needing on doing so.

A country's economy experiences a decline during a recession. My heart breaks when I see how Covid-19 has worsened the existing economic situation in recent years. But in the midst of this chaos, I am surprisingly grateful that I was able to persevere through the difficult times. My country is currently undergoing a period of economic rehabilitation, with the aim of emerging from this situation stronger and more advanced than before.
Currently, I am trying to stabilize my family's financial situation. To achieve this, I improve my knowledge and skills, which will help me in making profitable investments. Apart from that, I am focusing on increasing my creativity, with the aim of building my own business so that I am not too dependent on the job I am currently doing.

do remember that it is yourself who will truly help you in your situation. the government may have plans for its people, but for your day to day survival, it is yourself that will find ways how to provide for your basic needs.
hence, one should always find contingencies on how to augment his needs. you can't rely from anyone on this. just few examples, sell gadgets or anything that you think you don't need anymore, tend your own small garden, be frugal with your expenses and so on. and as you mentioned as well, improve your knowledge and skills, you may find alternative jobs if you equip yourself with additional skills.

As an average guy with a salary that you can just get by and all that, it's going to be exceptionally hard getting by on that particular salary. It's hard enough that you're a cog in the wheel that could easily be replaced by someone else should the company deem you ineffective or unnecessary, it's also even harder to wrap your head around the fact that you're basically barely scraping by, so you won't have the liberty of saving money, financial freedom, and all that awesome stuff you get to experience as someone who's on a better state of living. And this is the reality for millions of us as of now. They'll be the first to experience the brunt and the after-effects of a massive recession and yet the whole world couldn't go on without them. Isn't that just a new level of fucked up?

So it is best to prepare while the economy has yet to fall into recession.  Saving money in any form can also help.  Buying precious metal so that we have something to sell in times the difficulty of recession kicks in also helps.  Any kind of money-saving technique will most likely help since a recession is a time when people will start losing their jobs, companies will go bankrupt and the price of commodities skyrocket.

If one is too conscious about recession he can then move to a rural/province place, and plant vegetables, fruits, rice, or wheat in order to have self-sufficiency, though he has to forget the luxury the city offers.

Even the frugal lifestyle is now difficult because of the non economical nature of some things.
We have to be careful with this because if you look and get the wrong type of work, it will take up your time and you will not have any other time to take up any other productive skill. If you need to work, be sure that you have a personal skill already.
Many things enough to make you run mad, you gotta maintain your sanity at all cost.

I know we're on Bitcoin forum, but seriously, don't treat Bitcoin as some sort of "guaranteed profit" investment. Nothing is guaranteed here, so don't put all your savings in it.
The 4-years cycle can't be happening forever, and even if we see the new ath at $100k, for someone who bought in at the previous ath, that's only ~12% annual yield, given we've seen 2-digits inflation rates, that wouldn't be anywhere near as impressive as returns in the previous cycles.
And having to wait for up to 4 years for your investment to become profitable is not something most people would tolerate.

I think the first one, preparing emergency funds is the most important thing in facing the recession. But with the current condition of fiat inflation and the risk of crushing stock market, and the bearish on Bitcoin market continuing, it's really hard to find the best way to safe our funds. I mean if we safe our funds in fiat, we have the security and we can immediately use it to buy our needs, but if the inflation rate is keep raising, then it's bad. And we can safe our funds in stock or bitcoin or other assets, but we can guarantee that the value of those investment will stable, and we still need to sell those assets to get the money we can used for living.

While amny may think recession can simply be overlooked, with passive income system and stock investments.

it will be good to also put into consideration that recessions sometimes results to inflation, company stock and proceed reduction,which may reduce once passive income value.

Another step that has to be taken is to avoid debt as much as possible, someone that has no significant debt can more easily deal with any economic crisis that may appear, now I understand this is a hurdle as it is difficult to live our lives without having some debt, but it has to be done.

As I know some people that had not recovered fully from the 2008 crisis, and then they had to deal with the pandemic and most likely another economic crisis will come soon, and they will be yet again unprepared to face such an event.

If we are good at seeing opportunities, then as you said, we can even turn our hobby into a profitable opportunity. Being a vlogger does look good. But remember it's not easy. And as you said it won't work quickly. Meanwhile, the recession will not wait for you to earn income from vlogger activities.
So I think it would be better if we also train skills that previously didn't really interest us. Keep working well in your main job so that you can stay in that job. And if you have a hobby that has the potential to produce results in the future. So yeah, continue with that too. But you also have to have other skills that are intended so that we are always ready to take every opportunity that comes. Being multi-talented is not easy. But it can help expand the opportunities we can tap into to generate additional income.

But you also have to be good at managing time because if we are not good at managing time then our lives could become disorganized. And it has the potential to make us lack rest time. We still have to set limits at work and set rest times too. So that our health is maintained.

Good point on this one. Honestly, this is what I'm trying to do these days. Although I already have a stable job that gives me a good source of income that steadily pays for my food, utilities, and needs, and even allows me to invest and save, I still feel like there are better jobs out there that can give me more. Seeing some of the people I am acquainted with live a better lifestyle from their work makes me want to adapt and learn their skills and try working on a different field that provides better salary and work environment.

It depends on the average monthly income of a person. I think, in your country per capita income is on the lower side, and you guys are facing a higher inflation rate. This is the only possible situation when you can not afford the commodities with two sources of income.
I am of the opinion that you should try to settle in some other country, where income is higher, and inflation is in the single digits. This way, you can generate more income and send remittances to your family for their financial support.

If you are someone who always has a savings fund and an emergency fund, I believe you will not need to borrow money to live. Therefore, as long as we find ways to increase our income and always have savings, we will never have debts that cannot be paid. Economic recession means we face economic difficulties, so if we always prepare carefully such as saving and increasing our income, it will not be too difficult to solve.

Even when there is no crisis or economic recession, we should always be prepared for those things because life always has surprises. Many people still have difficulties even in times of economic development because they never prepare anything for life.

Be more alert and prepare for the recession itself. Panic and fear will not solve any problems. We must learn what is needed to survive when a recession comes or we are already in a recession. You have written down the steps needed to prepare yourself before the long recession comes so that you can be better prepared to face it.

We hope to survive and emerge from the recession by making preparations starting now. We don't need to worry or panic because as long as we prepare ourselves well, we can survive during a recession. And don't forget to prepare some money to survive because, during a recession, prices of basic necessities can rise.

Hopefully, we can all survive the recession well and get out of the recession without any problems.

          When a country has a recession, does that mean that all countries are affected? isn't that right? Then, why should we wait for that to happen when we can prepare for it, whether the recession happens or not, at least we have prepared for the things that will suddenly come into our lives.
         Instead of when it's there and it's already happening, we'll prepare when it's difficult to do it, instead of when we're still relaxed and we didn't prepare. Let's not allow ourselves to add to the problem that can happen in situations like that.

Thinking about adding extra skills is quite good but some time diversification is not always favorable as one may thought. If you have a stable source of income, you should focus on making it work better and grow bigger. Your friends are successful in their field or skills is not guarantee that you might prosper in that aspect too if you switch skills. One of my friend experienced such situation years back and regret attempting to change skills because he almost lost the two. What is good for the goose is no longer good for the gander. It actually works perfectly for some but you should apply caution in doing so in order not to lose your stable source and the new one fail to favor you. I wish you good luck in whatever decision you take.


We all hope but how many people are comfortably living up to standard in terms of feeding, housing and clothing as well? You can only prepare for the recession if you are surviving the current situation comfortably. You don't expect average man who feeds once in a day to prepare for recession while he's already in recess. Sadly, appropriate authorities are not putting any reasonable measure to contain this.

The recession won't stand a chance over you if you are making a good income every month or every week, those who are nailed badly to the wall in recession periods are those who are already struggling to feed themselves and have a good life, the solution for those who are struggling and poor is to be prepared, they should have some emergency funds saved somewhere and such people need to learn some skills to increase whatever they are making presently.

It's going to be an easy life if you are making enough money, you will be able to take care of your family and yourself, and there will be money to build a hopeful future, like investing in stocks or Bitcoin.

I don't have a problem with recession because I have good business and I also make money online via trading and I am still stacking up some BTC here and there, I am fully prepared for any worse situation.

Economic management. Bitcoin investment is one way to deal with a recession. Saving in the form of gold can also or other investments. Everything that does not unravel the value is included in a good way to face a dying economic problem.
Bitcoin investment is increasing the interest of people rather than the choice of other types of investment to anticipate economic permission such as recession.
A 2020 data shows the situation related to the level of investment that I took from Saylor (http://).

https://talkimg.com/images/2023/10/01/PV8jc.png

Covid is a lesson and when large companies have a greater level of bitcoin adoption than other types are also learning why they do it.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Recession, recession... Everyone's talking about it, right? How many get its meaning? Basically, your knowledge is at a beginner level.

Recessions aren't only about unemployment or thrift. A complicated interaction of economic forces. Do you think reading a few articles makes you an expert? Think again. Preparing for a recession goes beyond conserving money and working. Understanding the economy and making decisions is key.

You suggest emergency money and spending cuts. Have you considered how these activities affect the economy? Will everyone saving and not spending worsen the recession? What about employment? You talk about learning new skills, but is switching careers that easy?

It's easy to list recession preparation procedures, but understanding the economics is harder. Before giving advice, try to grasp the topic. After all, a little knowledge is a dangerous thing, isn't it?

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 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?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

But one of the funniest things about recession it comes as a surprise most times, like the last recession that took place in 2020 it was as a surprise though before then inflation was increasing but people never thought recession was around the corners too. If people are able to see recession when coming I think they will do the possible best to store foods and to save emergency funds during this critical period.

It is very good to always prepare to have emergency funds because anything can happen at anytime, I have  learnt a lot from recession and other crisis years back that people could only survive because of the emergency funds they have at hand.

What you said is true; the poor, not the wealthy or members of the middle class, will be particularly impacted by the recession. The wealthy individuals may experience the unpleasant impacts of the recession, but they definitely won't go hungry.

But the poor are the ones who will be defeated by the recession attack, so what needs to be done is to be strategic and prepared in all situations. For example, one of the best things to do is to save money for the future, even if there is no good to be ready all the time really.

Recession is a phrase that separates people into different social levels and life experiences. You're right on with your insights. Upper middle class? They see and feel it, yet they're protected. They have safety nets, plans, and strategies. They're protected. The lowest classes? They're sensitive to economic fluctuations

Break down the middle class. They're prudent, they're wise, they're saving. They have something to save. They've had a base, a place to begin. Lower classes? They've been scurrying since before recession was mentioned. And now? They can't avoid it like they can a hurricane

It's an economic-emotional problem. The lower classes are the backbone, heart, and soul. They deserve better, more. We must give every person an equal chance to succeed

Yes, you are right that those who are most affected or who suffer the most when a recession occurs are poor people. Because they don't even know about the Recession but they are the ones who feel the most difficulty in the recession. Meanwhile, rich people even receive information much earlier about when a potential recession will occur. So the rich people started making preparations early.

Meanwhile, poor people don't even understand the term recession. All they feel is that life is becoming more and more difficult. So they don't have time to make preparations and even if they were informed from the start I doubt they would be able to make preparations. Because for them, even in normal economic conditions, it still feels difficult. So when a recession occurs they will definitely have more difficulties. That's very sad. But we can't do anything about that.

Recession is just liquidity issues and it also it has to do a lot with the war . Still today we can see it going on and this becomes more natural more often .

Indeed, poor people will really feel the impact of the recession because they will have more difficulty meeting their needs compared to before the recession. For those who know when a recession will occur, it will be easier for them to prepare their funds to be able to face a recession so that they will not feel worried whenever the recession occurs. So whatever the current situation, it would be better if we knew how to manage finances and prepare emergency funds so that when a recession occurs we can still meet our own needs.

In summary, everyone must continue to work hard in order to be able to fight economic crises and recessions on a global scale, because when crises and recessions occur, almost everyone must think about themselves without complaining and getting rid of the feeling of laziness that is still nestled in their bodies. . In fact, the problem is that you have to keep working hard, not only during recessions and crises, but in general, everyone has to work hard under any conditions so that they can be better prepared to face economic conditions when they change for the worse.

The recession that occurred that year was something that had never been expected before because that year was also characterized by pandemic conditions, which immediately caused many people to be unemployed and also people who could not leave the house, so those who had food and drink stocks More people will feel very safe and those who usually often work from their own homes will also be comfortable enough to continue living in conditions like that in 2020. So this is a condition that many people cannot deny at that time.

In terms of emergency funds, you actually have to always have them and prepare them when it is still easy to get money, because when it starts to become difficult for us to get money, emergency funds will always be more valuable for survival. So in conditions like now everyone has to continue looking for income in order to be able to make preparations for unexpected things and one of them is an emergency fund as you suggest.

Their upper class people may experience considerable losses such as due to decreased profits in their businesses. But still like you said they won't starve. So the impact of the recession for them is still within safe limits for their lives. This is different from lower middle class people, where the impact of a recession can even threaten their welfare. for example, many of the lower middle class have lost their jobs due to mass layoffs that occurred due to the closure of a company or a reduction in employees by a company. So, when unemployment increases, the crime rate usually also increases. Even today people are starting to take out loans to meet their living needs. and it is a very worrying situation.

Economic downturn can be a curse in life if not planned ahead. Many people are discussing that economic recession will come and it will be on a very large scale. Many people discussing the same topic means that something like this is definitely going to happen in the future. As experienced economists are warning us in advance, we need to be alert about this as well as do some pre-planning to overcome the economic downturn. It is natural that people will lose their jobs when there is an economic recession, so after losing a job, you have to think about how to get good financial support from some other means. If we have alternative businesses and if we can save money for the future as well as invest in a site then I think we will be able to weather the economic crisis.

I've been hearing people talk about a looming recession for a decade now.  Literally it's been about that long.  Working in finance, being a financial advisor, this is obviously a topic that I deal with on a day to day basis. All I know is that the markets god up and they go down and that will never change so just make sure you've got a well diversified portfolio that can "handle" any market downturns.

Up, down, sideways - it's like a never-ending roller coaster, but without the fun screams. You are entirely correct in saying that markets rise and fall. That's just how the game works. You're right in the heart of things, don't you, being in the finance industry, particularly as a financial advisor?

Let's discuss this recessionary issue now. For years now, people have been discussing it nonstop. As if they have nothing better to do! The thing about recessions, though, is that they come and go. It's the way the economy rises and falls. Being organized is crucial, really crucial. Also, how do you get ready? through a portfolio that is diverse. Spread your wings, wide, wide! The secret to surviving any storm is this. Thus, continue as you are and never forget to stay diversified and intelligent

Diversification is needed now. Even before the recession happened. And now it certainly needs to be paid more attention. Because diversification can also minimize risks and maximize profits at the same time. For those who are familiar with financial management, carrying out portfolio diversification is a common thing to do. But for those who are still not used to or not disciplined in financial management, it tends to be difficult to do. They sometimes always prefer to take big risks in order to get bigger potential profits.

And nowadays I prefer to press it on everyone to become multi-talented people. Well, we have to start exploring other skills that can help us be better prepared for more difficult job market challenges when a recession is occurring. with the many skills that we can have, the opportunity to earn more income can also be large.

The period where you lose your job until you find a new job is the hardest and the weirdest part of the world and not usually all that common as well. I have worked all my life, with some months in between when I did not work and I can guarantee you that I did not had any financial trouble during the non-working parts of my life whereas I had huge huge huge financial trouble during the times when I worked.

The main reason for that is the fact that I always had a small savings during the non-working part, like the company pays you when you leave, and I knew that I was not working so there was no income, and I spent very very  very little, like barely anything, just surviving, nothing big, not even spend big on food, very tiny amounts.

However, when I am working, I know that I have a salary, so I get to end up spending even more because I trust on the money that will come soon enough and that was the issue that I faced with and that caused some trouble.

It is true that discussions of economic recession are now frequent in the media. However, the same problem has been created all over the world. While this kind of news affects somewhere but not everywhere, its advance guidance has been massively disappointing. Some are cutting all their expenses in preparation. There has been some downward impact on business. No new investment is taking place. Unemployment continues to rise. Rising commodity prices are depressing people. This type of panic should be overcome. In recent times, due to war, the ongoing process of economy has been interrupted in almost many countries. Now we should prepare ourselves at this time instead of being disappointed. We have to create an environment where we can live in the difficult times. Everyone including the government has to come forward at this time. So we need to figure out how we can face this economic recession without fear and panic.

Economic challenges in the future will be increasingly difficult, it is not strange if inflation or economic recession occurs because currently more and more countries are very dependent on commodities from other countries so that when problems occur it will create a chain of problems, what we can do of course is invest , not wasteful and continue to look for sources of income.

It's still not fully clear if we are heading towards a recession or not. In some countries there will be a technical recession this year, whereas other countries manage to keep in the 1-2% GDP growth rates. Nonetheless the global growth is slowing down and the economic outlooks are negative. It's important to prepare for the worst-case scenario to have some options to lower the burden on our family. Financial stability is after health the most important thing to look after before and during a recession. The priority should be to secure our monthly pay checks and to make sure that our job is going to remain stable during the recession. That is why I try to keep a good communication with my colleagues so I hear as soon as there are some issues. Just last month I heard that they are going to be layoffs by a friend in HR. The townhall meeting is only coming in November, but it's good to be have informal communication and be prepared. I am already starting to look for a new job just to be prepared for the worst case. Even if it's only a small job that I can do on the side or on the weekends the additional income is going to be helping out a lot.

You're right, we should prepare for bad things, not the time to get depressed or panic. But I think we don't need to find a way because there is no other way but to find more income and save as much as possible. Apart from that solution, we do not have any solution to help us survive in times of crisis and recession.

But it will be quite late if we start those things now. We should save and increase our income even when we live in a stable economy because unexpected things can happen at any time, not just recessions or crises, which are the only threats we face.

What I want to know is which country are you referring to? Because everyone needs to see evidence of several countries that are dependent on other countries for the commodities you mean and also several countries that are able to provide these commodities to other countries. So you need to say which countries are related to each other so that everyone can continue to prepare themselves to be able to face inflation or economic recession which may still occur for all countries. And the matter of continuing to invest, not being wasteful and continuing to look for sources of income, I think that is something that everyone should continue to do under any circumstances.

Recession is a disaster that affect the economy, but when we consider the rate at which this is felt on a country compared to how the people are being affected, it will be seen that people habe gone far with the experience of the negative influence through what inflation had caused, recession usually occur beca of the government poor economy performance which yielded it results on the people that depends on the government, i hope they all can relate well to this and understand the role they play contributing to the economy failures.

Yes, it's true, in the next few years we will face difficult years and a recession. There have been many disasters, earthquakes, especially now that there have been wars in several countries, of course this will have an effect on the global economy. An economic recession in a country will definitely happen and it is impossible for us to avoid it.

In my opinion, we have to be more careful in terms of spending, don't spend on consumptive things, because income may be limited. Moreover, in the previous year we were twice affected by the recession. The point is, we have to be careful in spending, we have to have bitcoin assets and savings. Take advantage of Internet technology to develop skills so that we can make money via the internet.

Saving money , learning money management and also having some Bitcoin would be a good start during a recession but all of these must be made before it really hits its boiling point. Other than this , there is really nothing to do because I remember the 2008 crisis and so on and it wasn't pleasant at all with financial situations.

Personally , I think we will avoid the massive recession but we will see the effects of it in the next coming years in all domains , in every country , on every continent. Some of them will be less affected and some will be more affected but that is up to each and every nation to protect their citizens.

Except it does affect everyone, even those with passive income avenues as you're trying to put it. Picture this my friend, you're a tiktok influencer talking about passive income and how to live off of that. You're urging your viewers to look into rental properties, you've invested in these as well. But what you failed to remember is that it's the height of an economic recession, and people aren't so eager to really spend more money than what they could, even if it meant living in a nice rental property such as yours. Now all of your real estate properties are on the shitbox, and you're basically contemplating whether you're supposed to sell these properties off or not, but you know you would be at a loss since it's the recession and no one's going to buy your houses. See everyone's affected when recession happens, no one is safe from it except the 1%

Right. I think before anyone become so familiar on the market, they are already aware about how they can face recession. Its not like you are feeling all confident with your investments and when recession happens you dont know what to do. Anyway to be ready, its the usual don't put all your digital eggs in one virtual basket. Investors always spread their investments across different things because this way, if one goes down, hopefully, the others can balance things out. Markets tend to recover over time so we should maximize our time to take a break once things doesnt go the way we wanted it to be. Don't rush into selling everything in a panic.

It cannot be denied that inflation is something that worries everyone, especially if you are a businessman because the continuous increase in prices of goods due to inflation means that many people's finances cannot be controlled, thus having an impact on future financial balance. And this can happen in every country.

I also agree that one way to deal with inflation that will always be recommended is investing in bitcoin. Because, investing in bitcoin will help protect your finances from the impact of inflation. Apart from not being wasteful and having to look for additional work, you also have to avoid debt. Moreover, if you use debt only to fulfill your lifestyle and are consumerist in nature, it is actually less useful.

Sorry, but that's just plain wrong. Bitcoin is not really a good hedge against inflation, especially not for an average person/family struggling to make ends meet. So far, Bitcoin's price has been moving in roughly 4-years cycles, which is not guaranteed to keep happening, and even if, waiting for years for the price to rise is not something that such people could afford.
And even if the BTC hits $100k in the next bull run, that's only 12% a year (since the previous ATH) which not much above the real inflation.

Its already been true recession is apparent because of the growth in monetary supply exceeding the inflationary figures.  When the growth realized is mostly from increased nominal figures related to inflation then you have a recession.  The workers of any country suffering lower currency value like that will experience and understand recession is occurring, when do your full work and receive less for it people dont often miss this effect is occurring.  My point being recession isnt new, we are just seeing greater amplitude on the charts.

I guess this thread's OP is supposed to be in top social media platforms and not just this forum as the information in it is meant for the whole world.

The recession being talked about isn't subject to a particular state or an economy or a region but can happen across the globe, hence, the reason why the world is supposed to have this information at their finger tips, else, the government will be blamed and then the impact will even get worse. We all contribute to the economy and therefore must be prepared to salvage whatever is left of it as a human being on earth.

Inflation! The word bothers every businessman. Price rise, financial balance fall... Every nation faces this difficult game. We must face this universal challenge

On to Bitcoin. Everyone's discussing Bitcoin, right? Like the financial golden ticket. Some claim it's the inflation solution. Why? Because Bitcoins are limited. No unlimited printing like cash. The huge but is that it's not a one-size-fits-all answer. Knowing the ins and outs and not putting all your eggs in one basket are essential

And debt? Lifestyle debt? That's poor business. Living beyond your means with debt is a recipe for failure. It's foolish, inept, and unsustainable. Live within your means, invest intelligently, and always look ahead. Make finance great again

Not much different from yesterday's Covid pandemic, the recession has weakened the purchasing power of people around the world and caused great concern. There are still many people who don't realize that almost all countries in the world are experiencing a recession which has weakened people's financial capabilities. I am grateful to get good reading almost every day on this forum, from the many posts there are, managing finances well is something that many posters recommend. Recession comes unexpectedly, so preparing an emergency expenditure - income - budget must be started as early as possible.

Unfortunately, currently it seems that not many people are preparing themselves for a recession. So the economic crisis is clearly becoming more visible around me. Even the currency in my country continues to weaken compared to the dollar. So now, without realizing it, all prices are gradually rising again. And currently more and more companies are closing and making many people lose their jobs. The recession has really had a big impact and it is clearly visible now. People are starting to complain that life is increasingly difficult nowadays. Even loan applications are the most sought after today. The result is that many people are unable to meet their daily living expenses. But for those who have prepared from the start, they can be said to be very lucky. Because when the Recession happened they were ready to face it. Different from people who haven't had time to make preparations. They're going to have a really hard time right now.

It is happening in every country but for a very few, they're able to slow it down but they can't escape inflation.

Investing overall is a good way to fight inflation. And investing in Bitcoin is just one of the best choice as there have been a lot of choices that everyone can make if ever you're fortunate to have money to invest.

It's a hedge against inflation and others need to know that too.

Actually, most of the countries (at least the Western ones) have been able to reduce the rate of inflation with increased interest rates. The problem is that increasing interest rates have a negative effect on the economy and can lead to many undesirable things like e.g high unemployment. So if not done carefully, it's just like replacing one problem with another.
That's why, in the past, we'd often see that recessions actually came in pair with deflation.

It is true that Bitcoin is an excellent investment. But what you said is that you should always recommend Bitcoin investments to deal with inflation. So do you have any proof that Bitcoin can end inflation or that it can help reduce the impact of inflation on finance? If you have any arguments, then give them to us so that we will also be aware. But it is not possible, with the excuse that you have zero tolerance, that Bitcoin can end inflation.

While I can tell you why Bitcoin cannot eliminate or improve inflation, it has a volatile nature, and there is no evidence that its market condition will remain the same tomorrow, which means price movement. It will be the same tomorrow. To prevent inflation, you need a consistent method by which interest rates are raised by reducing the supply of money in the economy, and inflation can be reduced.

It is clear that Bitcoin has high potential to prevent inflation because of its fixed supply and decentralized nature. And this is the thing that can keep Bitcoin as a hope for an inflation hedge, but Bitcoin, despite so many advantages, also has a weakness, and that is its volatile nature, due to which Bitcoin is classified as an inflation hedge or financial status. They hesitate to use it because nobody has tried Bitcoin so far, and no country is ready to try it because there are risks in something based on volatility, and economic status is a serious matter with a small risk. It will also put the financial career of a country at stake. I hope you understand my point.

overall whatever investment there is so long its return rate more than the inflation incurred, its fine, but with bitcoin, we get additional benefit of growing our capital into another level.
I would say that, cryptocurrencies so far is best investment for fighting against inflation, even some random alts could gain 30% increase within short amount of time.
but requires adequate skill and sufficient knowledge to do the investment.
from my observation, not everyone cut it to become investor in cryptocurrency, even more so those that don't really have the patience, therefore its best to test the water first.
seeing if its truly effective way fighting inflation.

Recessions have occurred long before we were born and this happens every time the global economy changes and several other causes. Inflation also occurs due to an erratic increase in the price of goods and people's purchasing power weakens due to a lack of balance. Both are natural phenomena that often occur, but with varying levels of severity and what people need to do is follow several steps of advice from experts and live as frugal a life as possible and not wastefully live in these conditions.

We have gone through several critical events caused by recession and inflation and outwardly we have come through well, despite the complications and difficulties. For example, when Covid-19 happened and almost everyone experienced big problems at that time and in the end we were able to get through it on our own with some advice, our own way and assistance from the government.

Every possible solution that a country will do, there's always an opposite reaction. It may not be entirely to the economy but to the people. So whatever a government does to slow down or contain the inflation, they'll still have hard time in removing it all along but reducing it is like the goal of most of them.

It's a very crucial thing to be done by most of them and I agree to you, they need to do it carefully.

Yeah, it shouldn't just be an investment that will gain them profits but they need to consider that it should be way above the inflation rate.

Your money is still not going to be valuable if it's on an investment and the increase is way below the inflation rate.

This is a phenomenon that often occurs in the economy, not a natural phenomenon as you say because recession and inflation arise through economic changes that are not controlled by the parties involved so that it can cause bad things to happen within the economic scope, such as in the example of recession and inflation that has been felt by everyone throughout the world. And the good option is to continue to work hard and save money because only with this can everyone fight recession and inflation through their own lives.

Things like recession and inflation actually cannot be fought by relying on ourselves alone, so to overcome this and fight it in a better way, of course every citizen still needs help from the government and intervention from other related parties because This is related to the global economy so there needs to be broader handling from all parties in order to get through this like we got through the pandemic disaster that has come to everyone throughout the world.

The threat of a recession makes some people panic, because this recession is associated with various terrible things such as declining business, increasing unemployment levels and besides that, other impacts are certain that basic needs will increase, and people's purchasing power will decrease. And other negative impacts, yes, in facing a recession, we have to prepare ourselves, the main thing is that we prepare cash, cash is king when facing a crisis. Just maintain assets that are ready to be liquid, liquid assets are assets that are easy or easy to sell, namely like gold. Yes, it's true what you said, another solution is to increase your business or other income as your own emergency fund. Before mass layoffs occur, we need to save or manage our money well.

Recessions have happened a lot in the past and we may have experienced them several times in our lives. In this way, we should be able to learn from experiences and from events that have occurred in the past. This learning is needed to enable us to better prepare ourselves every time a recession occurs. And experts also do this, they learn from history and experience so that theories are formed and used as scientific studies which are also taught in economics colleges and the like.

A recession will not be so scary if we are prepared to face it. And in essence, we must have good financial management, and have a stable and sufficient source of income. And we should always have backup plans like emergency funds and such.

True, but what surprises me the most is that people act as if it is completely impossible for such a thing to occur again, because if you were to ask people about what they are doing to protect themselves in the case of a recession they will look at you with an incredulous face as if you asked them something that could only happen in movies, and then when it does happen those people are taken by surprise by such event and have no idea at all how to react to it.

The reason people are not preparing themselves for recessions is that there's not much they can do really. If you look at the average person, they don't hold any massive investments so are not really bothered with the markets' performance. All they can do is hope they won't lose their job.
Another thing is, that the word "recession" is used very loosely. In a situation when even experts can't quite agree on whether we are or aren't in a recession - the recession doesn't seem so scary.
Whatever happens, things are not very likely to get so severe as it was the case in the past, i.e. during the great depression, when people genuinely struggled to feed their families.

Because for some people they don't even know the term recession. They know everything that disrupts the economy and an economic downturn is an economic crisis. They don't even know the term inflation. They experienced it but most of them didn't learn it and didn't prepare themselves if economic difficulties occurred again. Yes, it's true that it seems like they really think that the recession that happened might not happen again. Those who are careless are those who will have difficulties because they do not have sufficient preparation. That's why we see many rich people always able to maintain their wealth even though the economic crisis occurs and inflation and recession also have an impact on them. Because they already had thorough preparations long before the economic crisis occurred again. Even if some companies close their business, it doesn't mean they are completely bankrupt. In fact, the brand only reduces the burden. Because sometimes conditions are difficult and if we want to survive then there are times when we have to take off a little of the burden.

That is why it is important for us to always learn from everything that has happened in human history. Not only on what we have experienced but also on things that we have not even experienced but that generations before us have experienced. Learning from history can make us better prepared to face the future.

A recession certainly has a very bad impact on the economy and affects the order of human life. Even though sometimes a recession is just considered normal by some types of people, the risks are really very dangerous. Recession is definitely avoided by business people and the country is also very worried about it.

I actually don't really agree if there are people who say that recessions are a common thing and often happen repeatedly and can be overcome without any significant impact. But if we look at it as a whole, everyone should be sensitive to such situations and prepare themselves well so that the effects of the recession are not able to hamper the economy to the smallest level.

The problem is, is not entirely clear what the "recession" means. It has been used so loosely (especially in recent times) that it can have different meaning to different people. We've seen so called experts and journalists referring to recession in situation when economic growth has slowed down, but still was positive.
And I don't understand why so many people believe that constant, uninterrupted growth is somehow a natural situation and any deviation from that is a tragedy. To me, it's kind of expected to see some periods of both, ups and downs.
And again, the mass outcry and comparing recession to some sort of cataclysm is usually vastly exaggerated. I've seen the effects of 2008 recession but I don't know anyone who would be affected by it in any significant, long-term way.

What is most needed during a recession is a stable cash flow. A person must be able to ensure that they have a stable cash flow that can meet their needs and to save/invest in shares or other investment instruments. Without a stable cash flow, it might be quite difficult for someone to survive this recession, because the prices of goods will tend to fluctuate and a person must be able to meet their primary needs first.
And then cutting spending on things that are not important is necessary and allocating the money to things that are more necessary or saving it.

you are right about that and as much as possible we have to manage our expenses and income well, we can make expenses because after all we have to fulfill primary, secondary and tertiary needs but what we need to pay attention to is to make sure that we buy things that are really needed and not just a desire.

investment is one way to deal with a recession and is known as an effective way to increase income, but in this case we are required to be more careful in determining where we will invest so that we can guarantee that the investment can still provide profits amidst the threat of recession and Of course, to be able to do this you need to be wiser and smarter.
and one more thing, as much as possible we must avoid long-term debt because clearly this is very risky and will cause us to be in debt in the future because when a recession occurs, interest rates will increase, causing the value of our debt to increase.

Yes, it is important to face a recession to be able to stabilize our cash flow, because without this everything will fall apart. Maybe this is a good way to stabilize our cash so that we can manage our finances when an economic recession occurs. I learned this from my experience when the Covid virus occurred several years ago.

1. Increase emergency funds. It's best to start recording expenses and income.

2. Increase investment. If we haven't started investing, it's best to invest immediately, the easiest investment is gold because it's easy to disburse when there's a sudden need, and don't forget if you have extra money to invest in bitcoin.

3. Consider your career because the career we are focusing on must know, this could be long term or only temporary. For example, in a temporary career we can look for additional income.

4. If you currently have debt, it's a good idea to note down how much debt needs to be paid. Pay in installments. and live frugally and lastly, don't get into debt again.

5. Don't let expenses be greater than income. So that our income is greater, continue to increase creativity... Continue to learn new things, have additional income so that you can increase your income better, and still live frugally

Hopefully the finances we currently have remain stable.

I think rather than saying they didn't prepare well then I would probably say that they were confused about how to prepare for it.
Indeed for some people it will be easy but for some especially for those who are poor then they will not be able to do that other than being desperate to accept without preparation. It is not that they do not want to prepare, it is just that they are confused about what they should prepare because after all, before the recession they already had difficulties with their economy so that when the recession occurred they realized that the conditions would definitely be worse but on the other hand they also could not do anything other than accept and face it.

We should really be that indeed smart and wise when it comes to this because if we arent really that prepared then we would definitely be experiencing the bitter things specially if we do speak about recession or inflation.
Yes, its true on which rich people cant really be that easily affected when it comes to this scenario which they could really be that easily be able to adjust or survive considering that they do have other income
or stream of money earning things on which its really that supporting them on the time that it would really be that happening. This is why it would really be always that wise to do on making
things to be prepared rather than caught up yourself off guard.

Being wise and being mindful is the best approach that you could really be having. Facing it out might not be simple as it sounds but doesnt mean that it would be impossible on doing so.
There are really just that people who are really that wise on preparing things on whats ahead.

The impact of a recession is very big, like it or not, we have to prepare as early as possible to face a recession. Because many workers will experience layoffs. What affects the poverty rate is increasing and the unemployment rate is also increasing which will directly impact on decreasing capital income.

In my personal opinion, the solution to survive the economic crisis is to save money from unnecessary expenses. Second, have an additional source of income just in case. Third, if necessary, have an insurance policy to deal with emergency conditions. And finally, increase investment. Always look back at your investment portfolio, if global market conditions start to decline then immediately rearrange your investment portfolio into a safer form such as bitcoin. Lastly, perhaps the most important thing is to continue living your life as usual and don't panic.

The problem during the recession is that many businesses are closing and many investments are going down. If someone who relies completely on those affected businesses and assets of their have been terribly affected by the recession, that stable cash flow won't be stable anymore.
That's the hard part for those who have been completely reliant on this and that's not a problem because that's really one of the keys to becoming stable in this world and having a solid foundation with your cash flow and passive income. But whenever these incidents come that the recession will just go through with any assets and business that you own, you'll be affected on it but as long as you can keep up with what's happening on the global market and you're skilled enough to adopt. It is possible that you'll find another way to have that stable cash flow or else you'll have to sell all of those assets that you have as well as the closure of your business even if you don't want to. The recession is savage and if you have come unprepared for it, you'll deeply feel sorry that there seems to be no hope at all with it.

Cutting your spending on unusual things is one step for you to survive. When you've got that much stuff that you don't need and you are spending money on it, it's not just worth it at all.

Recession is something that has happened times without numbers and it is something that can still happen anytime which nobody can tell when,  one thing about Recession it always happens as a surprise to people,  it takes people unaware that is why even with the experience of Recession in the past people still get unprepared whenever recession take place.  I don't really blame people who are not prepared for recession because it occurs as a surprise and the recession is a season that many people are been affected .

Things are becoming worse and the government may be trying to cocktail the actual circumstances but the effect is still not working. The government can only provide the necessary basics amenities to her citizens although that may be different from region to region where the government provides funds for her people even when they don't have a job. This is a tough time when we need to work on our spending because things are getting worse will time and we don't even know what will be the market condition in months coming. The war between Russia and Ukraine had become a bug catastrophe to other countries in term of gas, food etc.

The recession and the impact of the war between Russia and Ukraine are a frightening specter where commodity and oil prices continue to increase, but meanwhile employee salaries remain the same without experiencing a single cent increase in wages so that the wages earned cannot meet existing needs. . However, if they decide to stop working then they have to think twice because finding work is currently very difficult.
And it is true that in current conditions many companies are experiencing bankruptcy because they are unable to compete and solve existing problems. Companies that still exist are reluctant to increase their employees' salaries even though their needs continue to increase, companies are reluctant to increase salaries because they are aware of their own condition which is currently in the stage of company financial recovery due to the Covid-19 pandemic and now they are again shocked by the existing economic problems, this is what makes companies reluctant increase the salaries of employees because their finances are not yet stable.

Recession is a period where you can reinvent yourself. Because, since there aren't all that many job opportunities during the recession period, that means that we are going to end up with a lot of people who are unemployed, and finding a new job will be very hard and you are going to end up with results that are not that good when you seek another job.

However if you end up with finding any job that you want, not just what you worked before, but what you want to work in, then you can start from fresh and not really make that much different money. So that would be a great time to reinvent your whole life, and that's what recessions are good for.

Basically it is going to suck and be terrible so if it is going to suck at least make it worth to suck by finding a job you want to do, otherwise why would you want to look for a job that you hate while also having no chance getting one quickly? It is not going to be good for you on the long run at all.

Saving and working hard are efforts that everyone must make, but working hard is not enough if it is not accompanied by smart work. Inflation and recession have killed several sectors and caused economic decline for people to make money. In the end, people's lives have become increasingly difficult because they are unable to meet their needs. Fighting inflation and recession is not always about saving and working hard because it requires collective work from the government, society and suppliers of goods in the market.

Adjustments between several conditions that occur and if a recession and inflation occur are caused by several events, then there are preventative solutions that can be carried out by society, the government or certain parties who have responsibility. Inflation and recession will destroy the economy of every country that experiences it and will spread to other sectors that are much more widespread. At this stage, the condition of fulfilling needs becomes an attraction that will continue to worsen and the prices of basic necessities in general will experience an uncontrolled increase.

When this sector experiences severe pressure, conditions will get worse because people in general will find it difficult to face the pressure of high selling prices for basic commodities in the market. The solution is like our previous discussion and the role of the collective is a way to deal with this condition because without collective awareness, this condition will take a long time to resolve.

The solution is to open your own business with existing capabilities because when we need to face these impacts from now on, it must start by creating our own business to be able to overcome these problems. Because when some people get laid off from the company where they usually work, the solution is to continue working under any conditions by opening their own business in order to maintain their income to continue living their lives because being unemployed will trigger more problems in life.

Maybe there is one more solution that needs to be added to the several solutions that you have explained, namely that we must continue to have work as usual in any form as long as the work can provide better results for us personally. Because everyone will not be able to manage their finances if there is no source of income through their work, so for this final solution there must be additional work because more sources of income come from that. Meanwhile, saving, investing and having insurance are technical parts that must be done after we receive income from our work in life or after the source of income becomes clearer.

That's very true, the right solution is to open your own business but still look at opportunities to maintain stability and money circulation even with a small profit.
At a time when the world is currently experiencing many problems that have a big impact on all sectors which make it very possible for the economy to be disrupted, especially among the lower classes due to job loss, you have no other choice but to put your hope in yourself by opening your own business.
These things have to be thought about from now on, even though we have not been affected or experienced these bad things, because we will never know what will happen in the future, so we must be ready to face bad situations like that.

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

You're one of the lucky few to have a lot of income streams so you can keep yourself afloat in a time where recession is imminent, a lot of Americans aren't as lucky as you are, I've watched the movie The Big Short and a lot of the Americans were homeless when the bubble popped and the recession started. I feel bad that not everyone has the means to make multiple income streams or has the opportunity because I do agree with you, that it's a good idea to have more income streams so the effects of recession is alleviated. I'm not from US so I can't really accurately say how to survive that but if I am right, there should be some kind of help that's going to be given to people that's affected like unemployment benefits or other stuff like that and so my tip based on what little that I know about the stuff in recession is for everyone feeling the effects to try and make sure that you take all the government help that you can get.

Whether a recession is the same as an economic crisis or not, I think it has a very bad impact on all of society. There may be riots such as looting of food in supermarkets by residents who cannot afford to buy food and are trying to survive. The economy is the heart of human activity, therefore when a country's economy collapses due to a recession, it is likely that it will only cause the country to experience ruin.

What I fear is not food, but the uncontrolled anarchic actions of citizens who want to survive. I am more afraid that people's emotions will get out of control and start to make the atmosphere even more chaotic.

To anticipate this, I will allocate some of my assets into several investment instruments such as gold, Bitcoin and shares related to development. I use gold as the safest hedge, hopefully Bitcoin can protect the value or even grow the value of savings and shares for building construction. I plan that when the recession is over the price will increase because it is certain that demand will also increase.

It is true that going from inflation to recession is a complicated and long process, and recovery does take time. Even though the government tries, it's often hard for them to solve such complicated economic problems right away. It is very hard to turn around a situation that is already going badly

As you rightly say, facing the socio-economic problems, especially after a global crisis, requires a constant understanding on the part of everyone. Pandemics, recessions, and wars have all happened at the same time, leaving people trying to make ends meet. Finding side jobs and working more hours are two methods that many people are using to stay alive. The next question is how long this can go on for and what will happen in the long run

There is nothing much easier to recover from post-recession or inflation because collective awareness is needed for this problem to be resolved. If our age is at the maturity level where we already have a family that needs to be supported then there will be a big impact when inflation or recession occurs because we have the responsibility to meet the costs of life that we live with our family. Preparations for dealing with inflation and recession cannot be done once the event has occurred because it will be quite troublesome to deal with it. We have to have a plan and a financial plan long before it happens, the aim is so that we can control the severity caused by the event and most people don't think long before it happens.

Like the previous discussion, how a person has a good financial plan for living life, has savings and other preparations to deal with it if this event occurs. Sometimes waiting for the government to find a solution is not right because we have responsibilities that need to be prepared for the family as a daily staple food. This is the collective awareness of each individual to reach the stage that needs to be done and there is always a way if someone has a thorough plan to face it.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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!

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.

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.

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.

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.