Bad economy is not good for either super rich or very rich

[macson]

snip

However right now with the way how inflation is going crazy there isn’t much that central banks can do. They need to raise interest rates to control inflation. If they don’t it’ll get much worse in the near term.

my country has even been doing this since mid-2021, to avoid severe inflation that occurred due to the global crisis due to the pandemic.  now the war that is going on between russia and ukraine adds to the burden of many countries, many even increase taxes in their countries.  but for those who are rich, who already have a lot of savings can survive in very bad conditions.

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[chikading2016]

Bad economy is not good to all not only for super rich or very rich people around the globe, because we can all become affected with the bad economy, i believe that even children or the aged persons will suffer also the effect of bad economy it will reflect us all super rich and very rich will always stands up after bad economy happen while ordinary people takes a lot of time to stand up again one example of the bad economy is when we experience the pandemic.

[lixer]

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

Perhaps, it will depend on the government in managing their economy because if they can put the state budget in the right position, the economy will hopefully run well. It requires the integrity of every government employee in distributing the state budget so that no one will run out of budget or misstep. But indeed, the economy of a country is also related to conditions that occur in other countries so every country must have a reserve fund if a bad economy comes.

Yeah that’s right, but sometimes the government are reluctant of performing their duties very well and that leads to citizens facing the consequences. It’s also very important that the head of states work on the level of security in their country and assure the citizens that they are safe no matter what.

Law enforcement agencies should be urged to carry out their duties in ensuring the safety of people and properties. And again the government should always make sure that the economy is running smooth, and citizens should as well do their best to urge their leaders into doing what is right.

[stepwilli]

Anyone who is rich would be mindful of their movements at a time when the economy is really bad and crime rate is high because they know for sure that they would be target. In my country there are some rich people who live abroad in countries where it is safe for them and they never want to return back to the country because they feel that things are not safe for them since the economy is bad and they think that they might be main targets since they are rich.

But, both the rich and the poor are equally affected, because when those who commits those crimes don’t get to see the rich to feed on, they will jump on the poor next and collect whatever little that they have.

[KingsDen]

Anything that is bad will definitely affect everyone. The super rich is always affected but to what level compared to the poor?
Compared to the poor, they are not even affected.
The rich is affected much in bad economy in the aspect of security. But then they can relocate at anytime and still live big in their new country or residence.
Then, it is the poor that is vulnerable in the bad economy. Inflation affects the poor, security affects the poor, government policies on SME business affect the poor aswel.

[adaseb]

It’s does affect most of the rich. Most businesses and real estate is owned by the rich. If there is a recession then they will get less sales and make less money. Some might lose their job and not be able to pay rent. This is not a good situation.

Only people that might benefit are those funds which shorted the top of the stock market and bought everything back very cheap and entered a long position. However this is a small amount of the rich population. Those with business interests will do poorly in a recession.

[rhodelmabanal]

I think it is bad to all, it is called bad because it has no good effect to people bad economy can affect all people even a simple or poor person will also become affected, because if the economy is bad there is a possibility that the basic needs price rise and the poor will suffer and also the people that has a minimum wages will also affected. Because most of the rich people who owns big company will sure reduced the minimum wages.

[awik p]

Anything that is bad will definitely affect everyone. The super rich is always affected but to what level compared to the poor?
Compared to the poor, they are not even affected.
The rich is affected much in bad economy in the aspect of security. But then they can relocate at anytime and still live big in their new country or residence.
Then, it is the poor that is vulnerable in the bad economy. Inflation affects the poor, security affects the poor, government policies on SME business affect the poor aswel.

at least the more broad-minded rich can still move even if inflation continues to climb. even if their business goes bankrupt they can still work hard and many people don't have a hard time getting back to being successful again. In contrast to the poor, many of whom have a limited mindset, when the economy is bad they can only think about how to stay alive, as if there is no way to live a better life than today.

[Freeesta]

I don't think the super rich will suffer from a bad economy. They make the economy bad for their own benefit. For them it's just a game. They control the fate of people and they are not worried that it is hard for someone to live now, from these actions they become even richer. This is a game for them with big stakes and big profits. For these people, there is nothing but money.

[Xampeuu]

I don't think the super rich will suffer from a bad economy. They make the economy bad for their own benefit. For them it's just a game. They control the fate of people and they are not worried that it is hard for someone to live now, from these actions they become even richer. This is a game for them with big stakes and big profits. For these people, there is nothing but money.

Let's take an example like the covid pandemic here where many people have economic difficulties, and many companies fire their employees, but new rich people appear whose wealth has skyrocketed. On the other hand, for those who have money, they are playing with the price of necessities for Covid at that time. such as hand sanitizer, marker, etc. so they actually make the poor people suffer even more

[southerngentuk]

The economy is critical for the continuation of many social relations activities, as well as providing a motivating foundation for more progressive development.But I see the problem as this: when we have not given up greed, control, and inequality in society, it seems this is not a favorable time for business. However, your resilience over a period like this can give you the credibility you'll enjoy in a decade. Inflation is inevitable for any country. Once steady states are reached, there will be instability, and the poor will get poorer again, and the rich will continue to get rich. We may not yet accept that fact, but it is still happening. Those who adapt to the changing times will continue, and those who do not will be left behind. It can be seen as a purification, very bad as well as very good, depending on each of us.

[Marykeller]

So idea i just said its only solution otherwise you better get friends and gun becouse everybody will protect themselfes first

I won't do that. Although I know that a lot have been doing that in other countries by having their own firearms. I don't have it on my plan. I've got a friend in the states who have already purchased himself a gun and I understand his reasoning because it's common there.
But in my place, it's not so whether there is a good or bad economy, I wouldn't do that, and I have my other ways of protecting myself and I don't really have to do that although having a bad economy is what I don't desire. If we can choose to survive, well, that's for the better economy.

A bad economy can lead to so many bad vices in the society or country at large. The poor and middle class tend to do unbearable things just to survive in a hardship situation. A bad economy leads people to kidnap, armed robbery, prostitutes and defraud. They are not doing it with a good mind, just that the economy of the country pushes them to be bad

[Darker45]

Bad is economy is bad economy. So it is bad to both rich and poor. But bad economy to the poor means there's no food on the table while bad economy for the rich means a huge property in Paris could be sold. And even in the worst economy, there's a rich man taking advantage and getting richer.

Anyway, forget about governments using USDT or USDC or any other stablecoin. First, these are privately-owned coins; the governments won't like it because they are not under their sole control. Second, these are pegged on the value of USD. A bad economy could mean a weakened USD and, therefore, a weakened USDT or USDC.

[bustabitsboy]

We have seen many ups and downs in recent years. Everyone knows that in bad years it is difficult to be afloat, to do your own business. Even if you have a lot of money, it is difficult to survive in bad times. This applies to the rich and the super rich. The ability to find the right solution and choose the right course in difficult times can save. And it doesn't matter how rich you are.

[South Park]

No one benefits from a bad economy, from the poor to the very rich of course never expect a bad economy to happen, a bad economy will disrupt security and political stability so that very rich people are always afraid to do anything, and massive crime and robbery will occur so that people are always anxious.

Unfortunately those conditions are created by the mismanagement of the governments around the world, every single country has some resources they can use to their advantage and increase the wealth of their citizens, but when those resources are used not with the goal of helping the population but to help a bunch of politicians and rich people that is when we begin to see economic problems in many countries, and when we add the pandemic and how much money was printed because of it then it is not really a surprise to see so many people suffering due to the bad decisions governments have taken during the last years.