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April 09, 2020, 11:47:46 AM
 #61

We will indeed suffer a terrible economic recession. After Covid19 there will be a lot of unemployment, food shortages, medicine and other kinds of problems. I am the provider of my family I have worked hard all this time and now I must do more work.
I am hopeful that with BTCitcoin and the cryptocurrencies we can have a lifesaver. But any thought that fact is unpredictable. We are working hard to achieve it since we use it as our digital money. We just have to keep fighting and thank God for a new dawn.

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April 09, 2020, 12:31:25 PM
 #62

We will indeed suffer a terrible economic recession. After Covid19 there will be a lot of unemployment, food shortages, medicine and other kinds of problems. I am the provider of my family I have worked hard all this time and now I must do more work.
I am hopeful that with BTCitcoin and the cryptocurrencies we can have a lifesaver. But any thought that fact is unpredictable. We are working hard to achieve it since we use it as our digital money. We just have to keep fighting and thank God for a new dawn.


There is nothing we can do except to keep hard and do more work so we can cover the daily needs that we need. It is a hard situation for everyone, I guess, but we don't need to give up, as long as we could still search for the other opportunity, we can get it. Yes, this pandemic brings many people to suffer, and they still try to get the way how they can fill their daily needs. I hope that we still have a chance to hard work from many sources and people out there still have the same opportunity as what we did.

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April 09, 2020, 12:58:13 PM
 #63

I have limited my funds from the beginning. I make a priority for urgent needs and never spend money on unnecessary ones. I have heard from many sources about the possibility of a global economic recession, so I prepared everything that I can. FYI, in my city, the prices of daily needs are growing but all of us must stay at home and no jobs. In this condition, we must be smart to manage our money.

I have the similar strategy. I'm not spending on anything that isn't necessary and I'm trying to enlarge my rainy days funs while I still can
I think that even before corona pandemic the world was heading towards new economy crisis and now I.think it could be only worse than expected. Probably the price of all peoducts and services will go up, people will continue to lose jobs and economy will recover very slow and in years. The situation isn't bright, that is for sure.

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April 09, 2020, 01:09:44 PM
Merited by The Pharmacist (1)
 #64

I have limited my funds from the beginning. I make a priority for urgent needs and never spend money on unnecessary ones.
This is a situation most of us are facing and it would be wise if we could cut down unnecessary spending as we have no idea about the extent of this situation and how long it will last.

I have heard from many sources about the possibility of a global economic recession, so I prepared everything that I can. FYI, in my city, the prices of daily needs are growing but all of us must stay at home and no jobs. In this condition, we must be smart to manage our money.
There will be a recession as majority of the market place are shut down and the production is reduced because of the seriousness of the pandemic and to enforce social distancing and if the production goes down the price goes up naturally. The only option is to wait for the government funds to reach you and survive this situation.


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April 09, 2020, 01:17:26 PM
Merited by The Pharmacist (2)
 #65

This is the reason why emergency funds is so important, and I realized this thing when I have no work for almost 2 months now. You have to think for a good alternative, don’t take any loan for now because the economy might suffer for a year or long. We are all struck on debts, but I’m sure banks will make a good terms to repay the loans. The pandemic outcome is really back, and we might experience worse things in the next few months. Luckily, bitcoin is here and allows us to earn at least while the whole market is down.

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April 09, 2020, 02:36:46 PM
 #66

I have limited my funds from the beginning. I make a priority for urgent needs and never spend money on unnecessary ones. I have heard from many sources about the possibility of a global economic recession, so I prepared everything that I can. FYI, in my city, the prices of daily needs are growing but all of us must stay at home and no jobs. In this condition, we must be smart to manage our money.

It is sure that we are going to endure a global economic recession.
Banks are going to start printing money in order to tackle it.
Oil prices are going to head to the moon again which will lead in a bigger increase of prices in products that savor daily needs.

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April 09, 2020, 03:10:12 PM
 #67

Don't take any loans, keep some cash, keep some crypto (depending on your risk apetite) and you'll be fine.
I agree that all of those things are great, except for a lot of folks that advice is impractical.  There are quite a lot of people who are currently (and hopefully temporarily) out of work and have had to sell some of their investments in order to free up some cash for living.  There are also those who never had any investments--like stocks, bitcoin, whatever--to sell in the first place, as they were working paycheck-to-paycheck before the outbreak happened.

Things have gotten very ugly as of late, but in my area at least I still see a lot of businesses still open and that's a good sign.  However, I think we're going to start seeing the repercussions of layoffs and business closures months down the road, and I'm expecting a stock market correction worse than what we've already seen.  I could be wrong about all of this, but I get the feeling that it's going to be a while before things start getting back to normal.

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April 09, 2020, 04:51:10 PM
 #68

Don't take any loans, keep some cash, keep some crypto (depending on your risk apetite) and you'll be fine.
I agree that all of those things are great, except for a lot of folks that advice is impractical.  There are quite a lot of people who are currently (and hopefully temporarily) out of work and have had to sell some of their investments in order to free up some cash for living.  There are also those who never had any investments--like stocks, bitcoin, whatever--to sell in the first place, as they were working paycheck-to-paycheck before the outbreak happened.
Everyone is not prepared for all this events to come, even the government so might as well we should start thinking of investments in the future after we get this done. I'm seeing a lot of people begging for government assistance, and now the government is crumbling where to get the money they need to feed their poor citizen. After this is the time the government should think of what we need during crisis not all just buying weapon for a war and ugly stuffs.

Things have gotten very ugly as of late, but in my area at least I still see a lot of businesses still open and that's a good sign.  However, I think we're going to start seeing the repercussions of layoffs and business closures months down the road, and I'm expecting a stock market correction worse than what we've already seen.  I could be wrong about all of this, but I get the feeling that it's going to be a while before things start getting back to normal.
The majority of businesses are close due to covid, what is booming business right now is those who produce the necessity of the people however the unemployment rate rather the closure of that majority comes to suffer to their workers. Good news, the situation is going well as the origin epicenter of the pandemic is having a pretty high recovery rate.

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April 09, 2020, 05:48:14 PM
 #69

It is sure that we are going to endure a global economic recession.
Banks are going to start printing money in order to tackle it.
Oil prices are going to head to the moon again which will lead in a bigger increase of prices in products that savor daily needs.

Recession is already underway (most of the stock markets have lost anywhere from 40% to 50% of the market cap), but I don't understand how the oil prices can go up. With the demand for crude oil going down sharply, there is going to be a huge oversupply in the markets and I won't be surprised even if the prices go below the $20 per barrel level. Any new deal between OPEC and Russia will be having a very limited impact.

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April 09, 2020, 06:25:44 PM
 #70

This is the reason why emergency funds is so important, and I realized this thing when I have no work for almost 2 months now. You have to think for a good alternative, don’t take any loan for now because the economy might suffer for a year or long. We are all struck on debts, but I’m sure banks will make a good terms to repay the loans. The pandemic outcome is really back, and we might experience worse things in the next few months. Luckily, bitcoin is here and allows us to earn at least while the whole market is down.

thats what normally happen  . people realize a things and regret it at the end but they dont act it as early as possible even they know the posibility of it can happen in the future   .  sure it was hard to save but it wouldnt hurt that much too seperate small amount of funds  either from your work or from your sideline job  . those who are involved on btc and still have a funds left on btc and on cryptos are lucky because they can earn on it and they can use these earnings to support thier needs under this pandemic  period  . if not well there are institutions that provide loans

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April 09, 2020, 09:19:38 PM
 #71

The out come of this pandemic is really a great crisis in my country our president is running out of budget because of the home quarantine people stay at home and force not to work so that the virus well not continue to spread that is why government need  to provide the needs of the people and the budget from the national is now slowly gone so i believe that the outcome is really worst.

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April 09, 2020, 10:37:47 PM
 #72

Don't take any loans, keep some cash, keep some crypto (depending on your risk apetite) and you'll be fine.
I agree that all of those things are great, except for a lot of folks that advice is impractical.  There are quite a lot of people who are currently (and hopefully temporarily) out of work and have had to sell some of their investments in order to free up some cash for living.  There are also those who never had any investments--like stocks, bitcoin, whatever--to sell in the first place, as they were working paycheck-to-paycheck before the outbreak happened.
Everyone is not prepared for all this events to come, even the government so might as well we should start thinking of investments in the future after we get this done. I'm seeing a lot of people begging for government assistance, and now the government is crumbling where to get the money they need to feed their poor citizen. After this is the time the government should think of what we need during crisis not all just buying weapon for a war and ugly stuffs.

Things have gotten very ugly as of late, but in my area at least I still see a lot of businesses still open and that's a good sign.  However, I think we're going to start seeing the repercussions of layoffs and business closures months down the road, and I'm expecting a stock market correction worse than what we've already seen.  I could be wrong about all of this, but I get the feeling that it's going to be a while before things start getting back to normal.
The majority of businesses are close due to covid, what is booming business right now is those who produce the necessity of the people however the unemployment rate rather the closure of that majority comes to suffer to their workers. Good news, the situation is going well as the origin epicenter of the pandemic is having a pretty high recovery rate.

I like your idea that the government "should think of what we need during crisis not all just buying weapon for a war and ugly stuffs". Actually, a lot of countries are spending a huge ton of money in warfare. If they can spend it to its people to uplift their economic status by providing decent and sustainable jobs, people might have good savings in this time of crisis. The government will not be agitated where to get money for people not to get hungry. I think this pandemic teaches us all about the lessons that we can get from this crisis, not only for the government but also for ourselves.

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April 09, 2020, 10:55:03 PM
 #73

Such thread with worried posts can compound panic. Chinese is over with the crisis at the moment and are doing fine, they are back at work and migration is controled with some changes in lifestyle. The country is even exploiting the crisis in the world to build their economy, while exporting goods to all countries in crisis. I believe if we look at Wuhan we can pick the understanding of where we head.


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FlightyPouch
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April 09, 2020, 11:21:37 PM
 #74

Such thread with worried posts can compound panic. Chinese is over with the crisis at the moment and are doing fine, they are back at work and migration is controled with some changes in lifestyle. The country is even exploiting the crisis in the world to build their economy, while exporting goods to all countries in crisis. I believe if we look at Wuhan we can pick the understanding of where we head.

Wuhan is in lockdown and now it is being lifted making those people travel outside the place again. Slowly they are going back to normal and I think that would be the same to those countries that don't have that many cases right now or those countries that controlled well the virus. Here in our country, the extension of ECQ is extended but here in the province that I am in, it might not be needed an extension since we only have 4 cases and the people controlled it well.

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April 10, 2020, 08:25:55 AM
 #75

Crisis already here. Uneployment numbers are growing every week in the whole world. We will see new great depression in every country

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April 10, 2020, 11:24:29 AM
 #76

We are all in the same boat here even those who are in a bigger boat.
They are losing money daily without their businesses running.

I think everything will be fine but there are those who are really making more money by now.
The production may be slower but people are still buying.
Donations in canned goods and other needs are also being bought in supermarkets.
I think they are the ones who are making most even with the pandemic that is happening.
I mean, have you ever see them giving away their products? No, I don't think so. They are still selling it.

We may get slow on standing back up but in a year it will be normal again.
Employers will still need employees and clients will still need the service afterwards.

turkandjaydee
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April 10, 2020, 12:43:27 PM
 #77

For countries that do lockdowns, do they not provide compensation in the form of money?

I read from the news that my country won't do any lockdown because the government can't afford to provide compensation to their people, so I think countries that do lockdown are providing compensation to their people. Is that true?

With the current pandemic situation, people here start to sell homemade foods, markers, and any other medical needs. They're trying their best to help their finances.

Anyway, doesn't the Chinese government feel guilty about spreading the virus because it is caused by them? How far have they helped other countries?
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April 10, 2020, 04:03:41 PM
 #78

It is very likely that we will be soon witness another crisis after this pandemic event many people around the world are becoming jobless, in other word no financial to face the reality when this such phenomenon exit, add up the mortgage and bills to pay for, it is sure pain in the back to workaround and see what we can do for the upcoming month during this pandemic.

After medical crisis we will get economic crisis and after that we will get political and society crisis. In some countries will be bigger then in others but almost no will be able to avoid them.

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KrisAlex18
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April 11, 2020, 09:53:42 AM
 #79

The best thing to do for now is to invest, this is really good for investing as bitcoin is still dumping, it will be profitable if we invest now when the bitcoin is still low then wait fot the bull run. Do not sell your bitcoin because cryptocurrency will rise again, it is like what we have experienced before when bitcoin reaches 1700$ and bounced back again.

Do not lose hope and still believe the bitcoin and other cryptocurrency, let us just wait for the bitcoin to pum again, believe on it, cryptocurrency is supported by so many people and big whales, they wont let bitcoin to be dead.
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April 11, 2020, 10:51:37 AM
 #80

It is very likely that we will be soon witness another crisis after this pandemic event many people around the world are becoming jobless, in other word no financial to face the reality when this such phenomenon exit, add up the mortgage and bills to pay for, it is sure pain in the back to workaround and see what we can do for the upcoming month during this pandemic.

After medical crisis we will get economic crisis and after that we will get political and society crisis. In some countries will be bigger then in others but almost no will be able to avoid them.
Yes, no one will be able to avoid it because everything must be faced with confidence and a strong mentality, any crisis will come at any time because of the catastrophe that occurred not only this pandemic, there are still many other disasters that occur in different parts of the country together with the continued increase in pandemic cases. So indeed, there will be a lot of work and or other matters that must be dealt with after the pandemic or disaster has passed and we must be prepared to face it because the recovery period will also be the hardest period to be done in the future.

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