Was just watching the big short. Why do the times suddenly feel similar?

[beerlover]

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.

The issue is that someone who has 50 million dollars do not have to care about the regular life spending, they do not think about buying food, they can eat whatever they want, buy any sofa they want, whenever their car breaks down they do not have to worry about the service, they just live normally without worrying about money, and they can invest easier.

People like you and me and him, we care about those things, because one bad thing and we are done, and two in a row? That almost means bankruptcy unless we get some help, I lived that recently, my wife needed operation and then our car broke down, both of them together meant financial debt that I would have to pay for 2 years, but thankfully my boss helped me out, otherwise I would have been in debt for 2 years.

[KiaKia]

I lived through a bear market before and I know how challenging it can get, but my experience isn't like someone who is new to crypto space anymore, now I am fully prepared for whatever happens, I believe that surviving in the bear market is where many people will fail and many have failed in the past too, it's better to be prepared for gbs hard times if you want to successfully see a new bull market.

Right now I am still waiting for the final flush out and it could be the most brutal so far, but still this doesn't stop me from using my DCA strategy now and then, because I am human not a god, there is no way I can read the future.

There is still few months left before the halving and even after the halving the bull market won't start instantly, think about how you will survive for that long, make plans on buying foods and save some money aside or else your crypto assets won't see the next bull market sitting their asses in your wallet.

[Silberman]

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.

The issue is that someone who has 50 million dollars do not have to care about the regular life spending, they do not think about buying food, they can eat whatever they want, buy any sofa they want, whenever their car breaks down they do not have to worry about the service, they just live normally without worrying about money, and they can invest easier.

People like you and me and him, we care about those things, because one bad thing and we are done, and two in a row? That almost means bankruptcy unless we get some help, I lived that recently, my wife needed operation and then our car broke down, both of them together meant financial debt that I would have to pay for 2 years, but thankfully my boss helped me out, otherwise I would have been in debt for 2 years.

While it is true the rich have an easier time than us, it is not as if they cannot be destroyed by a black swan, after all a great deal of their wealth is on their companies or other paper assets, and in the case of an economic crisis a great deal of their wealth just disappears, and if they were heavily indebted then this can easily cause them to lose everything they had in a short amount of time, something that we saw happening a lot during the last major crisis we went through.