Can One Get Rich or At least Not go Broke During a Recession?

[Smartprofit]

Recession is a difficult thing to survive especially to increase the wealth of or get rich, but I was inspired by the documentation of the film that at that time occurred war and inflation was very high, then he made a food product and it turned out that the food was liked by many people, this was natural because When the war of course the production of large and agricultural factory cannot be effective so that by making processed food will get a good response, the point I want to convey is many things we can do to increase wealth even with difficult conditions.

Difficult but possible. I am sure that even the poor families have ways to survive a recession because if not then they will die. Trying to increase our wealth during a recession must be a silly idea because we are already struggling to buy our basic needs so how much more of trying to make more money?

Mostly people are jobless and then the demand for business are low because the price of the goods are at their all time high. The story that you share is inspiring. There's also a similar story like that but the plot happened during the covid pandemic. It was like a blessing in disguise because it helps people to become creative and unlock their hidden talents.

Yes, in my opinion, there are chances to get rich during a recession in the global economy. 

During a recession, many companies will go bankrupt. 

However, other companies will survive and gain the customer base and resources of those companies that did not survive the recession. 

For example, people will stop buying new shoes.  Instead of buying new shoes, people will repair their old shoes.  People who repair shoes and clothes will be able to increase their income.

In general, the quality of life of people will deteriorate.  At the same time, individual businessmen will be able to succeed.

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[BRINIRHA]

Yes, in my opinion, there are chances to get rich during a recession in the global economy. 

During a recession, many companies will go bankrupt. 

However, other companies will survive and gain the customer base and resources of those companies that did not survive the recession. 

For example, people will stop buying new shoes.  Instead of buying new shoes, people will repair their old shoes.  People who repair shoes and clothes will be able to increase their income.

In general, the quality of life of people will deteriorate.  At the same time, individual businessmen will be able to succeed.

there will always be those who fall and there will always be those who survive the recession. and those who will benefit are those who survive. as you said some parties might be able to take advantage of the recession to become a good opportunity. But I think it's only a minority of people who have been able to turn the recession into an advantage. because during a recession the majority of the people are going through more hardships. and usually those who can survive during a recession are those who have large capital savings such as the elite. so that the rich will be more likely to be richer. while people who are not financially capable will be increasingly depressed.

[Jody.Drummer]

Making the right decision must really be made in this case and of course when referring to this, every action must clearly be calculated carefully so that we are not wrong and feel sorry at the end.
Facing a recession will obviously be a bit of a hassle but at least in this kind of case keeping the business running well of course would be great by minimizing the existing budget.
It is still possible to become rich in the midst of a recession, but only for some people and of course those who have the capital and finances can make it happen, but for businesses in small circles keeping the business running while bringing a little profit is more than enough according to me.

You could argue that people who have enough finances and capital to take advantage of cheap offers during a recession were already rich before the recession started. Companies who sell essential goods are usually less severely affected by a recession and will keep to operate like before. Any business owner of such a company will be doing fine during a recession. It is mostly the smaller business that are affected stronger by a recession. When things are getting really bad than politicians like to save big companies first as there are more workers involved and more potential voters to be convinced. That is why I agree with you, for small business owners surviving a recession should be the main goal. Trying to become rich during a recession is so much more difficult than during a bull market. There are not many anti cycle businesses were we could invest easily. My main goal is now to save as much as possible to have capital available when the recession is over and to profit from rising prices again.

Saving from now on is not too bad because if indeed you are a business person, you will definitely need a lot of capital, which must be prepared to minimize problems that will occur later, even though you can say that this has taken too long because you should have prepared it from the start, but it is better to prepare from the beginning. now rather than never because it's quite clear that this will have an impact on all walks of life, it doesn't matter if it's a small or big businessman, the only difference is the impact felt because small business people will feel the impact far more than big ones.
On the other hand, with the current conditions, there is really nothing that can be done for them other than by strengthening the reserve fund so as not to make it even worse and the business will continue to run because it is certain that when a recession arrives, not a few of the business people start to feel that finances are dwindling so they don't there is nothing to do but give up and that is of course the worst decision and should be avoided.

[posi]

Recession is a difficult thing to survive especially to increase the wealth of or get rich, but I was inspired by the documentation of the film that at that time occurred war and inflation was very high, then he made a food product and it turned out that the food was liked by many people, this was natural because When the war of course the production of large and agricultural factory cannot be effective so that by making processed food will get a good response, the point I want to convey is many things we can do to increase wealth even with difficult conditions.

Difficult but possible. I am sure that even the poor families have ways to survive a recession because if not then they will die. Trying to increase our wealth during a recession must be a silly idea because we are already struggling to buy our basic needs so how much more of trying to make more money?

Mostly people are jobless and then the demand for business are low because the price of the goods are at their all time high. The story that you share is inspiring. There's also a similar story like that but the plot happened during the covid pandemic. It was like a blessing in disguise because it helps people to become creative and unlock their hidden talents.

During the pandemic, I have also seen many people become rich within a year. While people were looking for ways to save their lives, many people risked investing and working and in the end they actually got the desired reward. Many people around me get rich because they see the needs of people during the pandemic, they invest in the production of masks, hand sanitizers, disinfectant sprays...all are essential necessities during the covid 19 pandemic.

It can be said that recession or crisis does not mean that everyone has difficulties, opportunities are always available in all cases, sometimes other people's difficulties are their own opportunities.

[bestcoins1]

When a recession of course many people become dizzy because of the price that continues to increase, but this is a good opportunity to create a business even when recession, a unique tourist business is a very good and profitable thing because people need different things and a good choice.

The tourism business requires very large capital if the location is not located in a more strategic area. But for those who live near the mountains or the coast, yes it's definitely good to get a business up and running in these tough conditions. However, it should also be noted that at times like today not everyone can afford to open a tourism business.

Because in addition to the capital which is not small, the number of visitors also needs to be considered because everyone always prioritizes the most important needs before spending more money at tourist attractions.

[blockman]

During the pandemic, I have also seen many people become rich within a year. While people were looking for ways to save their lives, many people risked investing and working and in the end they actually got the desired reward. Many people around me get rich because they see the needs of people during the pandemic, they invest in the production of masks, hand sanitizers, disinfectant sprays...all are essential necessities during the covid 19 pandemic.

It can be said that recession or crisis does not mean that everyone has difficulties, opportunities are always available in all cases, sometimes other people's difficulties are their own opportunities.

The rich got richer during the pandemic because they've seen every opportunity that they can make. I've seen people that have got nothing but still made that much money during the height of the pandemic. They looked for suppliers of alcohol and face masks and then sold them during the peak as the supplies were having some issues back then and the demand was too high. That's the type of people that really sees every opportunity in different situations, like the term and quote about selling lemons and making lemonades.

[Fatunad]

During the pandemic, I have also seen many people become rich within a year. While people were looking for ways to save their lives, many people risked investing and working and in the end they actually got the desired reward. Many people around me get rich because they see the needs of people during the pandemic, they invest in the production of masks, hand sanitizers, disinfectant sprays...all are essential necessities during the covid 19 pandemic.

It can be said that recession or crisis does not mean that everyone has difficulties, opportunities are always available in all cases, sometimes other people's difficulties are their own opportunities.

The rich got richer during the pandemic because they've seen every opportunity that they can make. I've seen people that have got nothing but still made that much money during the height of the pandemic. They looked for suppliers of alcohol and face masks and then sold them during the peak as the supplies were having some issues back then and the demand was too high. That's the type of people that really sees every opportunity in different situations, like the term and quote about selling lemons and making lemonades.

This had been always the reality on which rich people do even gets richer since they do have the capacity on taking advantage into something which they could really easily adapt nor take up those businesses
which does really suit out for a certain period or situation which make use of that for their advantage.This is why its pointless on making out argumentations that they shouldnt be doing that.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

[19Nov16]

Recession is a very difficult thing we refuse, economic recession occurs because of dependence with many things that make human needs more complex, the easiest thing to be able to fight the recession is to continue to increase the source of income, and Cryptocurrencies investment can be the main choice to be able to overcome inflation.

[DrBeer]

Getting rich is as important as maintaining the wealth accumulated and one of the things that makes one not to go broke is consistency in business and the flow of income towards the business direction which one the doing for sustainability, we cannot expect a single business not to have a backup and yet maintain regular flow when there's volatile economic situations just like the one we are into presently.

Well noted. But if there is not quite a vacuum in the head, and judging by the fact that we are talking about a person who can earn, then there is a brain, then finding assets for saving is not an issue. From primitive gold to assets such as cryptocurrencies, real estate, etc. There would be something to save!
And if you are serious - then the best times for earning are either some kind of breakthrough and market growth, or, on the contrary, sharp stagnation/world crisis/pandemic/war - remember the history of the formation of major capitals

[posi]

.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

Indeed, when a crisis occurs, we should not seek to withdraw in self-defense such as saving or cutting spending, all of those things are worth doing, but we should also reach out, step outside our comfort zone, and look for new opportunities are available to us. To me, other people's difficulties are my own opportunities, opportunities do not come to you, but seek them yourself. Similar to the current bear market, bitcoin is cheap and you have to decide if it's an opportunity or a problem to ignore.

[Sang Prabu]

The presence of cryptocurrencies provides good opportunities for investment so that in a recession condition then everything is not a problem, we deserve to be grateful because we know cryptocurrencies and can earning in many ways such as trading, farming, staking and so on.

[lizarder]

Recession is a very difficult thing we refuse, economic recession occurs because of dependence with many things that make human needs more complex

Not really, the recession has been going on long before we were born in this world, but because humans used to have a simple lifestyle, when a recession occurs they have the choice to survive and not affect economic resources as a support for life.
A small example, in the past people had a large yard, where they planted several crops such as vegetables or had a large field that could be used to grow all their food needs. So when a recession hits, they have food availability to meet their basic needs as a support during the recession.

A recession is more closely related to food, because this is a necessity that cannot be avoided. If the example I mentioned above is still being practiced today, then rest assured that society will not be affected if a recession occurs. But unfortunately, nowadays we are used to living instantaneously, recessions take place and cash is no longer in balance, so meeting basic needs will be much more difficult to control.

the easiest thing to be able to fight the recession is to continue to increase the source of income, and Cryptocurrencies investment can be the main choice to be able to overcome inflation.

I am sure that if there is a recession and inflation, it will be quite difficult to increase sources of income, especially in the current conditions, jobs are quite difficult to get, if someone does not have skills and is not willing to take risks.
While I agree, not many people understand the concept of cryptocurrency investing, let alone talk about cryptocurrencies that are still fairly common without specifically mentioning one such as bitcoin.

[virasisog]

.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

Indeed, when a crisis occurs, we should not seek to withdraw in self-defense such as saving or cutting spending, all of those things are worth doing, but we should also reach out, step outside our comfort zone, and look for new opportunities are available to us. To me, other people's difficulties are my own opportunities, opportunities do not come to you, but seek them yourself. Similar to the current bear market, bitcoin is cheap and you have to decide if it's an opportunity or a problem to ignore.

Being content with what we have during this period will not be enough. We should double our earnings as much as possible especially if we have a family to support and sustain. We should find ways to earn better than the ordinary season. Everything is rising and getting expensive these days so we must also be tough to deal with it.
Earning more, saving, and investing will be wise things to do than focusing on how to endure and survive the recession. Look for more opportunities and never get tired of hustling.

[Party24*7]

The presence of cryptocurrencies provides good opportunities for investment so that in a recession condition then everything is not a problem, we deserve to be grateful because we know cryptocurrencies and can earning in many ways such as trading, farming, staking and so on.

Yes, cryptocurrency should also be seen as an opportunity to make us rich during the current economic crisis. Many people are scared and panic selling but if someone sees the potential of cryptocurrencies, they can invest now. As long as the economy recovers and the market goes crazy, whoever holds it will become rich from now on.

[len01]

Recession is a very difficult thing we refuse, economic recession occurs because of dependence with many things that make human needs more complex, the easiest thing to be able to fight the recession is to continue to increase the source of income, and Cryptocurrencies investment can be the main choice to be able to overcome inflation.

I'm not sure if investing in crypto will help someone survive a recession. because we know that crypto fluctuates when there is a recession we should be able to continue to make money to survive or at least not go bankrupt but instead investing in crypto is like entering crypto which is full of the risk of losing more money and making depression.
the best way if you really want to continue to benefit during this recession is to try daily trading in crypto but still with proper analysis. otherwise it will be the same

[blockman]

The rich got richer during the pandemic because they've seen every opportunity that they can make. I've seen people that have got nothing but still made that much money during the height of the pandemic. They looked for suppliers of alcohol and face masks and then sold them during the peak as the supplies were having some issues back then and the demand was too high. That's the type of people that really sees every opportunity in different situations, like the term and quote about selling lemons and making lemonades.

This had been always the reality on which rich people do even gets richer since they do have the capacity on taking advantage into something which they could really easily adapt nor take up those businesses
which does really suit out for a certain period or situation which make use of that for their advantage.This is why its pointless on making out argumentations that they shouldnt be doing that.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

They're intelligent no doubt and that's why most of their businesses are successful. But many of them too are taking advantage of the situation of others in able for them to succeed.
Needless to say, the rich become richer because they have the experience on how to run a business and they know what they must do. Just use them as an inspiration and if they can do it, you must be better at something too which can make your passion into a source of living, I've heard of stories like that.

[n0ne]

.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

Indeed, when a crisis occurs, we should not seek to withdraw in self-defense such as saving or cutting spending, all of those things are worth doing, but we should also reach out, step outside our comfort zone, and look for new opportunities are available to us. To me, other people's difficulties are my own opportunities, opportunities do not come to you, but seek them yourself. Similar to the current bear market, bitcoin is cheap and you have to decide if it's an opportunity or a problem to ignore.

Agreed, rather than limiting our spending it is good to find additional opportunities to cope up with the needs. This isn't possible when we're at the recession period. In recent weeks the job cut by the corporates have reached its peak. This means, already there is a big increase in the number of people losing their opportunity. Now when we get into competence it make things go worse. As mentioned, someone's difficulty is our opportunity. If we take it that way then it is possible.

[Hamphser]

The rich got richer during the pandemic because they've seen every opportunity that they can make. I've seen people that have got nothing but still made that much money during the height of the pandemic. They looked for suppliers of alcohol and face masks and then sold them during the peak as the supplies were having some issues back then and the demand was too high. That's the type of people that really sees every opportunity in different situations, like the term and quote about selling lemons and making lemonades.

This had been always the reality on which rich people do even gets richer since they do have the capacity on taking advantage into something which they could really easily adapt nor take up those businesses
which does really suit out for a certain period or situation which make use of that for their advantage.This is why its pointless on making out argumentations that they shouldnt be doing that.
Lets just accept the fact and this is really that part of reality.This is why if you are really that thriving on making yourself able to survive even on recessions then you should be mindful
with having several other income sources and not really just sticking with your day stable job.

They're intelligent no doubt and that's why most of their businesses are successful. But many of them too are taking advantage of the situation of others in able for them to succeed.
Needless to say, the rich become richer because they have the experience on how to run a business and they know what they must do. Just use them as an inspiration and if they can do it, you must be better at something too which can make your passion into a source of living, I've heard of stories like that.

Not all do ends up on a success though which it is really having that risk whether you would fail or succeed so its a matter of risk taking in the end of the day.You cant really be that so sure if the plans you do have

in mind will really bear up a fruit or would really be just totally losing those money instead.Its one of the reason on why people do really hesitate nor have second thoughts on dealing with business or other venture

because they are really that hesitant on the capital or money that would be spent up.They are afraid on losing it and thats why people do really miss out those opportunities because
they dont really take up the risk.So its a personal choice whether they could bare it up or would just depend on their day job just like on what others been saying on here.

[blockman]

Not all do ends up on a success though which it is really having that risk whether you would fail or succeed so its a matter of risk taking in the end of the day.You cant really be that so sure if the plans you do have

in mind will really bear up a fruit or would really be just totally losing those money instead.Its one of the reason on why people do really hesitate nor have second thoughts on dealing with business or other venture

because they are really that hesitant on the capital or money that would be spent up.They are afraid on losing it and thats why people do really miss out those opportunities because
they dont really take up the risk.So its a personal choice whether they could bare it up or would just depend on their day job just like on what others been saying on here.

Starting a business or investment is all about taking risks, you're unsure at the end of the day if you'll be successful or not. But you know what, the thing here is that when you start any of those, you should have the knowledge to start with so that you know what and which path you're taking. Without which, you're really just gambling and the essence of experience is there but it's up to you whether you'll extract the lessons or not afterwards.

[Smack That Ace]

Not all do ends up on a success though which it is really having that risk whether you would fail or succeed so its a matter of risk taking in the end of the day.You cant really be that so sure if the plans you do have

in mind will really bear up a fruit or would really be just totally losing those money instead.Its one of the reason on why people do really hesitate nor have second thoughts on dealing with business or other venture

because they are really that hesitant on the capital or money that would be spent up.They are afraid on losing it and thats why people do really miss out those opportunities because
they dont really take up the risk.So its a personal choice whether they could bare it up or would just depend on their day job just like on what others been saying on here.

Starting a business or investment is all about taking risks, you're unsure at the end of the day if you'll be successful or not. But you know what, the thing here is that when you start any of those, you should have the knowledge to start with so that you know what and which path you're taking. Without which, you're really just gambling and the essence of experience is there but it's up to you whether you'll extract the lessons or not afterwards.

Certainly, knowledge needs to be prepared, but in my opinion, we need to have courage; knowing how to seize opportunities is the important thing. Knowledge is one thing, but when we experience reality it is another, sometimes the knowledge we learn in school or in books cannot be applied in practice, we need to improvise to suit the situation.

Starting a business or investing does not guarantee success, but if we hesitate, do not have the courage to start, we will never succeed. So, for me, business requires bravery as well as taking risks.