Notable people on current and upcoming economic issues - should we be worried?

[avikz]

Today all finance related newspaper are flashing only one headline - what Jeff Bezos said on upcoming recession! Let's have a look at it.

https://www.ndtv.com/world-news/hold-onto-your-money-jeff-bezos-warns-of-recession-advises-people-not-to-buy-tv-fridge-this-holiday-season-3536961

Now back in May, another notable person like Robert Kiyosaki said similar thing. Read it here,

https://medium.datadriveninvestor.com/biggest-depression-ever-is-comming-according-robert-kiyosaki-da51d1e82d9e

When billionaires and notable economists are warning us about upcoming recession and rising interest rate, should crypto investors need to be worried? Or do we have sufficient protection against the recession when we have cryptocurrencies in our portfolio?

Want to know your thoughts? If the recession is coming, can crypto save us from that?
 

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[dothebeats]

If notable economists say the same thing then yes, we should be a little concerned. If only billionaires are saying it then perhaps we should look for confirmation first. Billionaires may have been successful and have lots of money in the bag, but they aren't gods in economics although they may know an indicator or two on whether something is bad or not. Economists however, they have their entire career focused on determining these things even from a mile away. I'd listen to an experienced economist any day more than Bezos or Kiyosaki regarding this matter but yeah, all signs point towards economic recession, and it may not be long before we experience its full-blown effects.

[Gozie51]

Whatever that they say may not be far from what will happen but when it will really happen is what we should be conscious of so that we could take the kind of decision we want to take or what they advise. For example if we take the decision of trying to dump then it will be happening so early that the crypto market will crash far earlier than expected. So we only need to behave normal and do whatever we want to do as normal and live our lives and that recession will naturally happen then the economy will get back than dumping in panic and forcing the market bear to come early. It dropped in 2017 and it happened that btc later got to $64k.

[2stout]

Whatever they say, I would say take with a grain of salt and DYOR.  You have to watch some of the billionaires though.  Some are good at FUD, buying on the cheap, and hodling to sell at big profit.

[jossiel]

I think that makes sense if they're aware of something that's about to happen and like a recession to be specific. They're making it look that they've got insiders and understands what's about to come.

We can take it seriously but if you doubt what they say, you can add some effort to do researching just to get yourself be prepared of anything that will happen.

For those people that have multiple sources of income, they wouldn't worry about it at all especially those that have been tested and saw that they've got pandemic and crisis proof sources.

[arallmuus]

Want to know your thoughts? If the recession is coming, can crypto save us from that?

One of the main effect of recession is that interest rate would be lower so that means thee is a good chances that some cash will flow into crypto but we are talking about global recession so thats the whole world economic in decline and anything could have happened including crypto market crash as most people could be cashing out their crypto reserve

If you have decent amount of cash then once everything hit the new low then you could start purchasing all those

[ajiz138]

When talking about economists or billionaires there may be a slight difference because at least economists are clear that they have deductions from what they really know, so that does not rule out the possibility of this happening and that has now been proven.
But of course we can't completely do whatever they say because we have our own way of life even though what the experts say is true but of course when it doesn't agree with our heart then we can't fully believe it.
I personally will take those words with me, but to do what is suggested, maybe I will first look at the situation and conditions that I experienced first, because what other people think is right, not necessarily what we think is right.

[Fortify]

Today all finance related newspaper are flashing only one headline - what Jeff Bezos said on upcoming recession! Let's have a look at it.

https://www.ndtv.com/world-news/hold-onto-your-money-jeff-bezos-warns-of-recession-advises-people-not-to-buy-tv-fridge-this-holiday-season-3536961

Now back in May, another notable person like Robert Kiyosaki said similar thing. Read it here,

https://medium.datadriveninvestor.com/biggest-depression-ever-is-comming-according-robert-kiyosaki-da51d1e82d9e

When billionaires and notable economists are warning us about upcoming recession and rising interest rate, should crypto investors need to be worried? Or do we have sufficient protection against the recession when we have cryptocurrencies in our portfolio?

Want to know your thoughts? If the recession is coming, can crypto save us from that?
 

The best investment you could possibly be making right now is in yourself, expanding your skillset and looking for multiple revenue streams is the best way to go. The world is constantly changing and what you think are solid companies can sometimes be too slow to adapt, ultimately leading them to falling over. You should understand that an employer would drop you in a second if required and have to somewhat tailor your own career path with that mindset. However if you have deep education with good exposure to some high quality companies, then your CV can easily stand out from the crowd if you ever need to dust it off or decide to improve your salary by switching jobs up the ladder regularly.

[Smartvirus]

The crypto ecosystem and our natural world order operates an almost parallel financial system and a fall on one end doesn't necessarily mean the crash of the other neither can we entirely hope on ceypto for a saving grace. It just might be but, that would depend on several constraints as to what individuals are willing to do when the recession comes if it does come. I like to believe that its coming, followinv the series of events taking place in our world today with inflation on the rise everywhere and not because some billionaire says so. For all I care, them billionaires are out for there money as always and we should be too. Tread carefully and invest.

[Minecache]

If notable economists say the same thing then yes, we should be a little concerned. If only billionaires are saying it then perhaps we should look for confirmation first. Billionaires may have been successful and have lots of money in the bag, but they aren't gods in economics although they may know an indicator or two on whether something is bad or not. Economists however, they have their entire career focused on determining these things even from a mile away. I'd listen to an experienced economist any day more than Bezos or Kiyosaki regarding this matter but yeah, all signs point towards economic recession, and it may not be long before we experience its full-blown effects.

What you say makes sense, economists spend their whole life studying their work, specifically here economic forecasting. But if they're really better than those billionaires, why don't they get rich? I mean they can make predictions about the development of an economy, then they seize the opportunity to enrich themselves. I don't believe there is anyone who doesn't want to become rich, their purpose as an economist is also for money. Everyone's advice is completely helpful or sometimes not, billionaires if not good, can't become billionaires.

[Lucius]

I won't be rude, so I won't say how much advice from a billionaire who got rich on modern slavery means to me, or even less from some so-called expert who wants to be the new Dr.Doom. They are not notable people (at least not for me), and if I want to buy a new TV or refrigerator, then I will do it, regardless of what they all think.

False moralists and hypocrites whose workers can't even go to the toilet during working hours, and who spend years building the status of some kind of philanthropist with claims that they will donate everything to charity, are actually the bottom of human society, not the other way around as some think.

And as for inflation, recession and other evils that threaten us, unfortunately crypto is not the ultimate solution. Of course, it can help if you invested in Bitcoin in the past, or you sold and saved cash at the last ATH, but many times it has been shown that you should not keep all your eggs in the same basket.

[Die_empty]

The best investment you could possibly be making right now is in yourself, expanding your skillset and looking for multiple revenue streams is the best way to go. The world is constantly changing and what you think are solid companies can sometimes be too slow to adapt, ultimately leading them to falling over. You should understand that an employer would drop you in a second if required and have to somewhat tailor your own career path with that mindset. However if you have deep education with good exposure to some high quality companies, then your CV can easily stand out from the crowd if you ever need to dust it off or decide to improve your salary by switching jobs up the ladder regularly.

The crypto space is a sub-system of the global economic system, which means that it might also be affected by recession. Inflation which leads to high cost of goods and services might reduce the spending power of most people, thereby discouraging them from investing in the crypto market. Apart from diversifying ones skills or income, it might also be good to cut down on expenditure. Families should ensure that as they increase their income and their expenses should be low to a large extent. Spending more than your income this period would lead to disastrous debt.

Regarding the advice of Jeff Bezos, I just bought a new deep freezer because it would help me to save more money. Buying food items in bulk and storing in the refrigerators have been one of the ways my family have cut some expenses this period.     

[Hydrogen]

When financial advisors lack good advice, they preach diversification. Throw your money at everything and hope something works! The same principle could apply to inflation and economic recession atm.

Commodities were one of the first options people turned to when discussions of "transitory inflation" arose. Real estate was another hot topic, although with the steep decline in home loans a housing crash is expected despite abysmal levels of new real estate construction. While there is a relatively new thing called fractional real estate investment which can allow small cap investors to invest in real estate, I'm not certain whether or not those small cap shares are too diluted.

Which leaves the best option for most being entry level commodities. The price of lumber has exhibited several massive spikes recently starting with COVID in 2020. It is possible that wood, lumber and trees are all deflationary assets. Considering they are being cut down at a far faster rate than they can be replenished. To add to price strains, firewood has become a well performing asset during winter as many search for alternatives to heat their homes.

While gold, silver, platinum and other high priced commodities might exist outside the reach of most investors. Metals may not be the best commodities market to invest in. Technology and mining methods are constantly improving. Allowing for minerals and metals to be stripped from the earth more quickly and efficiently.

I think wood and lumber might be a decent asset class given them being long term deflationary. Even if people wanted to regrow lost forest, they couldn't do it as they would lack space. The quantity of arable land on the planet shrinks every year leaving less available space to regrow lost trees. Even if we have a current influx of lumber which is temporarily maintaining an affordable price for lumber. Over the long term I think the chart will correct and the price will rise.

[avikz]

Want to know your thoughts? If the recession is coming, can crypto save us from that?

One of the main effect of recession is that interest rate would be lower so that means thee is a good chances that some cash will flow into crypto but we are talking about global recession so thats the whole world economic in decline and anything could have happened including crypto market crash as most people could be cashing out their crypto reserve

If you have decent amount of cash then once everything hit the new low then you could start purchasing all those

That is only possible if people have cash in hand and this can be possible if the companies and businesses are earning normal revenues and sharing to their employees. Usually during a global recession, we will see a huge number of job cuts which will create cash flow issues within economy. So the chances are very slim to see an influx into crypto market. Rather, we may see a lot of people trying to sell their crypto assets for survival regardless of what the interest rate is.

The key here is money! What the economists say is very simple - have some cash in hand or in such assets which you can sell off at any time to maintain the cash flow at hand. Currently all major companies are firing people in order to reduce their operating cost and trying to figure out a bare minimum structure to keep the operations on. This is not really sending out a good sign to be honest!

[Fesatmas]

Worry is very basic, so it's very natural when we have that worry. However recession will hit in every aspect and here I think cryptocurrencies will also be affected too, although I can't say for sure how much impact will be felt by cryptocurrencies that are hit by recession.
Worry is necessary, because by having a sense of worry, we will be more careful. With a note, don't let the worry be excessive and control us. That will actually have a bad impact on ourselves, because it will affect us in making decisions.

[348Judah]

Why should we get worried and loose hope even before the arrival of the economy challenges, many believes that there's manipulations ongoing with the way the world economy system is running in favour of some particular category of people, the solution we should sought first is in dealing with our own present time challenges we are unable to handle befor it got escalated to a global problem whereby everyone is affected, we must guide the economy collapse individually before it turns an inevitable world challenge.

[Cling18]

We already know the capability of crypto to rise and fall and to survive even during an economic crisis so I guess it's better not to fear their warnings but rather be optimistic and think of more ways on how we could invest more in crypto in the preparation of the possible recession period in the future. Anything could happen and get worse so we have to face them boldly since we can't control all these crises. This will test how we trust the market.

[tabas]

If the recession is coming, can crypto save us from that?

I guess so, we've seen into the pandemic and with the war and these are all crises that we have never expected to come altogether. And even with those, the market still did better. That's why no matter what the notable people are telling about the big crash is coming to the economy, it's a good thing that they're warning us and I'll take it. We've got plenty of time to prepare whether it will be coming for real or not. I guess we've been always prepared on how volatile the crypto market is.

[so98nn]

What kind of protection?
Crypto is driven by public ledger and crypto is going to work until there is no one left to trade it in between two wallets/peers.

Though there remains no one to exchange it then also bitcoin is ideally going to be there forever over blockchain which is permanent and has already made N-nodes thus preserving all the bitcoins that were mined, transacted, exchanged, stored and more.

They preserve a blockchain's transaction history, sync, store, copy and distribute data while also validating new blocks. They continuously regulate rule adherence, creating a trustworthy database that stays honest.

If you specifically talking about what will happen to bitcoins value then it could go to zero in terms of “fiat” measurement.

However Bitcoin is still going to exist. 1BTC=1BTC

[kryptqnick]

I think that a big economic hardship is settling in already and is going to worsen over the next couple of years. It will be worse for some countries and better for others, just like it will hit some people harder than others, but it will be a tough time. As for cryptos, they are not directly dependent on the global economy (sure, people need to have funds to spare on buying cryptos, but the market is small enough that even a very small amount of those capable of doing that will do). The market is currently down, but I don't see why Bitcoin can't reach its new ATH in, say, a year, while the global economy is still going down. We can't rely on that happening, we can't know how it will go. So preparing for an economic crisis if one has a way of doing that is reasonable, but maybe crypto investors will have it better than others, we'll see.