Recession? How to face It?

[topbitcoin]

Recessions have happened a lot in the past and we may have experienced them several times in our lives. In this way, we should be able to learn from experiences and from events that have occurred in the past. This learning is needed to enable us to better prepare ourselves every time a recession occurs. And experts also do this, they learn from history and experience so that theories are formed and used as scientific studies which are also taught in economics colleges and the like.

A recession will not be so scary if we are prepared to face it. And in essence, we must have good financial management, and have a stable and sufficient source of income. And we should always have backup plans like emergency funds and such.

True, but what surprises me the most is that people act as if it is completely impossible for such a thing to occur again, because if you were to ask people about what they are doing to protect themselves in the case of a recession they will look at you with an incredulous face as if you asked them something that could only happen in movies, and then when it does happen those people are taken by surprise by such event and have no idea at all how to react to it.

Recession is something that has happened times without numbers and it is something that can still happen anytime which nobody can tell when,  one thing about Recession it always happens as a surprise to people,  it takes people unaware that is why even with the experience of Recession in the past people still get unprepared whenever recession take place.  I don't really blame people who are not prepared for recession because it occurs as a surprise and the recession is a season that many people are been affected .

Things are becoming worse and the government may be trying to cocktail the actual circumstances but the effect is still not working. The government can only provide the necessary basics amenities to her citizens although that may be different from region to region where the government provides funds for her people even when they don't have a job. This is a tough time when we need to work on our spending because things are getting worse will time and we don't even know what will be the market condition in months coming. The war between Russia and Ukraine had become a bug catastrophe to other countries in term of gas, food etc.

The recession and the impact of the war between Russia and Ukraine are a frightening specter where commodity and oil prices continue to increase, but meanwhile employee salaries remain the same without experiencing a single cent increase in wages so that the wages earned cannot meet existing needs. . However, if they decide to stop working then they have to think twice because finding work is currently very difficult.
And it is true that in current conditions many companies are experiencing bankruptcy because they are unable to compete and solve existing problems. Companies that still exist are reluctant to increase their employees' salaries even though their needs continue to increase, companies are reluctant to increase salaries because they are aware of their own condition which is currently in the stage of company financial recovery due to the Covid-19 pandemic and now they are again shocked by the existing economic problems, this is what makes companies reluctant increase the salaries of employees because their finances are not yet stable.

[bitgolden]

The reason people are not preparing themselves for recessions is that there's not much they can do really. If you look at the average person, they don't hold any massive investments so are not really bothered with the markets' performance. All they can do is hope they won't lose their job.
Another thing is, that the word "recession" is used very loosely. In a situation when even experts can't quite agree on whether we are or aren't in a recession - the recession doesn't seem so scary.
Whatever happens, things are not very likely to get so severe as it was the case in the past, i.e. during the great depression, when people genuinely struggled to feed their families.

A recession certainly has a very bad impact on the economy and affects the order of human life. Even though sometimes a recession is just considered normal by some types of people, the risks are really very dangerous. Recession is definitely avoided by business people and the country is also very worried about it.

I actually don't really agree if there are people who say that recessions are a common thing and often happen repeatedly and can be overcome without any significant impact. But if we look at it as a whole, everyone should be sensitive to such situations and prepare themselves well so that the effects of the recession are not able to hamper the economy to the smallest level.

Recession is a period where you can reinvent yourself. Because, since there aren't all that many job opportunities during the recession period, that means that we are going to end up with a lot of people who are unemployed, and finding a new job will be very hard and you are going to end up with results that are not that good when you seek another job.

However if you end up with finding any job that you want, not just what you worked before, but what you want to work in, then you can start from fresh and not really make that much different money. So that would be a great time to reinvent your whole life, and that's what recessions are good for.

Basically it is going to suck and be terrible so if it is going to suck at least make it worth to suck by finding a job you want to do, otherwise why would you want to look for a job that you hate while also having no chance getting one quickly? It is not going to be good for you on the long run at all.

[MarjorieZimmermanGinger]

This is a phenomenon that often occurs in the economy, not a natural phenomenon as you say because recession and inflation arise through economic changes that are not controlled by the parties involved so that it can cause bad things to happen within the economic scope, such as in the example of recession and inflation that has been felt by everyone throughout the world. And the good option is to continue to work hard and save money because only with this can everyone fight recession and inflation through their own lives.

Saving and working hard are efforts that everyone must make, but working hard is not enough if it is not accompanied by smart work. Inflation and recession have killed several sectors and caused economic decline for people to make money. In the end, people's lives have become increasingly difficult because they are unable to meet their needs. Fighting inflation and recession is not always about saving and working hard because it requires collective work from the government, society and suppliers of goods in the market.

Recessions have happened a lot in the past and we may have experienced them several times in our lives. In this way, we should be able to learn from experiences and from events that have occurred in the past. This learning is needed to enable us to better prepare ourselves every time a recession occurs. And experts also do this, they learn from history and experience so that theories are formed and used as scientific studies which are also taught in economics colleges and the like.

A recession will not be so scary if we are prepared to face it. And in essence, we must have good financial management, and have a stable and sufficient source of income. And we should always have backup plans like emergency funds and such.

Adjustments between several conditions that occur and if a recession and inflation occur are caused by several events, then there are preventative solutions that can be carried out by society, the government or certain parties who have responsibility. Inflation and recession will destroy the economy of every country that experiences it and will spread to other sectors that are much more widespread. At this stage, the condition of fulfilling needs becomes an attraction that will continue to worsen and the prices of basic necessities in general will experience an uncontrolled increase.

When this sector experiences severe pressure, conditions will get worse because people in general will find it difficult to face the pressure of high selling prices for basic commodities in the market. The solution is like our previous discussion and the role of the collective is a way to deal with this condition because without collective awareness, this condition will take a long time to resolve.

[bestcoins1]

The impact of a recession is very big, like it or not, we have to prepare as early as possible to face a recession. Because many workers will experience layoffs. What affects the poverty rate is increasing and the unemployment rate is also increasing which will directly impact on decreasing capital income.

The solution is to open your own business with existing capabilities because when we need to face these impacts from now on, it must start by creating our own business to be able to overcome these problems. Because when some people get laid off from the company where they usually work, the solution is to continue working under any conditions by opening their own business in order to maintain their income to continue living their lives because being unemployed will trigger more problems in life.

In my personal opinion, the solution to survive the economic crisis is to save money from unnecessary expenses. Second, have an additional source of income just in case. Third, if necessary, have an insurance policy to deal with emergency conditions. And finally, increase investment. Always look back at your investment portfolio, if global market conditions start to decline then immediately rearrange your investment portfolio into a safer form such as bitcoin. Lastly, perhaps the most important thing is to continue living your life as usual and don't panic.

Maybe there is one more solution that needs to be added to the several solutions that you have explained, namely that we must continue to have work as usual in any form as long as the work can provide better results for us personally. Because everyone will not be able to manage their finances if there is no source of income through their work, so for this final solution there must be additional work because more sources of income come from that. Meanwhile, saving, investing and having insurance are technical parts that must be done after we receive income from our work in life or after the source of income becomes clearer.

[uswa56]

The impact of a recession is very big, like it or not, we have to prepare as early as possible to face a recession. Because many workers will experience layoffs. What affects the poverty rate is increasing and the unemployment rate is also increasing which will directly impact on decreasing capital income.

The solution is to open your own business with existing capabilities because when we need to face these impacts from now on, it must start by creating our own business to be able to overcome these problems. Because when some people get laid off from the company where they usually work, the solution is to continue working under any conditions by opening their own business in order to maintain their income to continue living their lives because being unemployed will trigger more problems in life.

That's very true, the right solution is to open your own business but still look at opportunities to maintain stability and money circulation even with a small profit.
At a time when the world is currently experiencing many problems that have a big impact on all sectors which make it very possible for the economy to be disrupted, especially among the lower classes due to job loss, you have no other choice but to put your hope in yourself by opening your own business.
These things have to be thought about from now on, even though we have not been affected or experienced these bad things, because we will never know what will happen in the future, so we must be ready to face bad situations like that.

[BRINIRHA]

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Adjustments between several conditions that occur and if a recession and inflation occur are caused by several events, then there are preventative solutions that can be carried out by society, the government or certain parties who have responsibility. Inflation and recession will destroy the economy of every country that experiences it and will spread to other sectors that are much more widespread. At this stage, the condition of fulfilling needs becomes an attraction that will continue to worsen and the prices of basic necessities in general will experience an uncontrolled increase.

When this sector experiences severe pressure, conditions will get worse because people in general will find it difficult to face the pressure of high selling prices for basic commodities in the market. The solution is like our previous discussion and the role of the collective is a way to deal with this condition because without collective awareness, this condition will take a long time to resolve.

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

[blckhawk]

Yeah income stream is very important. I have some gov. pensions . Some mining income. And lastly a signature campaign here.  I normally don’t do a signature but times are a bit hard so I needed more income.

You're one of the lucky few to have a lot of income streams so you can keep yourself afloat in a time where recession is imminent, a lot of Americans aren't as lucky as you are, I've watched the movie The Big Short and a lot of the Americans were homeless when the bubble popped and the recession started. I feel bad that not everyone has the means to make multiple income streams or has the opportunity because I do agree with you, that it's a good idea to have more income streams so the effects of recession is alleviated. I'm not from US so I can't really accurately say how to survive that but if I am right, there should be some kind of help that's going to be given to people that's affected like unemployment benefits or other stuff like that and so my tip based on what little that I know about the stuff in recession is for everyone feeling the effects to try and make sure that you take all the government help that you can get.

[bayu7adi]

Whether a recession is the same as an economic crisis or not, I think it has a very bad impact on all of society. There may be riots such as looting of food in supermarkets by residents who cannot afford to buy food and are trying to survive. The economy is the heart of human activity, therefore when a country's economy collapses due to a recession, it is likely that it will only cause the country to experience ruin.

What I fear is not food, but the uncontrolled anarchic actions of citizens who want to survive. I am more afraid that people's emotions will get out of control and start to make the atmosphere even more chaotic.

To anticipate this, I will allocate some of my assets into several investment instruments such as gold, Bitcoin and shares related to development. I use gold as the safest hedge, hopefully Bitcoin can protect the value or even grow the value of savings and shares for building construction. I plan that when the recession is over the price will increase because it is certain that demand will also increase.

[slapper]

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Adjustments between several conditions that occur and if a recession and inflation occur are caused by several events, then there are preventative solutions that can be carried out by society, the government or certain parties who have responsibility. Inflation and recession will destroy the economy of every country that experiences it and will spread to other sectors that are much more widespread. At this stage, the condition of fulfilling needs becomes an attraction that will continue to worsen and the prices of basic necessities in general will experience an uncontrolled increase.

When this sector experiences severe pressure, conditions will get worse because people in general will find it difficult to face the pressure of high selling prices for basic commodities in the market. The solution is like our previous discussion and the role of the collective is a way to deal with this condition because without collective awareness, this condition will take a long time to resolve.

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

It is true that going from inflation to recession is a complicated and long process, and recovery does take time. Even though the government tries, it's often hard for them to solve such complicated economic problems right away. It is very hard to turn around a situation that is already going badly

As you rightly say, facing the socio-economic problems, especially after a global crisis, requires a constant understanding on the part of everyone. Pandemics, recessions, and wars have all happened at the same time, leaving people trying to make ends meet. Finding side jobs and working more hours are two methods that many people are using to stay alive. The next question is how long this can go on for and what will happen in the long run

[MarjorieZimmermanGinger]

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

There is nothing much easier to recover from post-recession or inflation because collective awareness is needed for this problem to be resolved. If our age is at the maturity level where we already have a family that needs to be supported then there will be a big impact when inflation or recession occurs because we have the responsibility to meet the costs of life that we live with our family. Preparations for dealing with inflation and recession cannot be done once the event has occurred because it will be quite troublesome to deal with it. We have to have a plan and a financial plan long before it happens, the aim is so that we can control the severity caused by the event and most people don't think long before it happens.

Like the previous discussion, how a person has a good financial plan for living life, has savings and other preparations to deal with it if this event occurs. Sometimes waiting for the government to find a solution is not right because we have responsibilities that need to be prepared for the family as a daily staple food. This is the collective awareness of each individual to reach the stage that needs to be done and there is always a way if someone has a thorough plan to face it.

[pawel7777]

The solution is to open your own business with existing capabilities because when we need to face these impacts from now on, it must start by creating our own business to be able to overcome these problems. Because when some people get laid off from the company where they usually work, the solution is to continue working under any conditions by opening their own business in order to maintain their income to continue living their lives because being unemployed will trigger more problems in life.

Starting your own business is not some golden solution to everything, especially not during the recession. Even during the "good times" the vast majority of start-ups fail to get traction and go under. And attempting to start a business during the hard times, could turn out to be the worst idea ever. When facing financial difficulties and/or dealing with unemployment, people will not be looking to spend their money on any new products/services, they'd be cutting down on all expenses as far as possible.
Obviously it all depends on the type of the business. If you somehow manage to offer something that allows people to save more money, recession could be a great time for that.

[barisbilgili]

Starting your own business is not some golden solution to everything, especially not during the recession. Even during the "good times" the vast majority of start-ups fail to get traction and go under. And attempting to start a business during the hard times, could turn out to be the worst idea ever. When facing financial difficulties and/or dealing with unemployment, people will not be looking to spend their money on any new products/services, they'd be cutting down on all expenses as far as possible.
Obviously it all depends on the type of the business. If you somehow manage to offer something that allows people to save more money, recession could be a great time for that.

It is indeed very difficult to be able to build a business when economic conditions are experiencing a downturn, we have to really think about business ideas that can attract other people to look at the products we market, because during a recession of course people will think more about saving on their expenses. in order to be able to meet their needs and if we create a business that has very few enthusiasts of course the business we build will certainly not be able to run well so we have to close it early before we can make a profit from the business we build.

[Xcode7]

Starting your own business is not some golden solution to everything, especially not during the recession. Even during the "good times" the vast majority of start-ups fail to get traction and go under. And attempting to start a business during the hard times, could turn out to be the worst idea ever. When facing financial difficulties and/or dealing with unemployment, people will not be looking to spend their money on any new products/services, they'd be cutting down on all expenses as far as possible.
Obviously it all depends on the type of the business. If you somehow manage to offer something that allows people to save more money, recession could be a great time for that.

It is indeed very difficult to be able to build a business when economic conditions are experiencing a downturn, we have to really think about business ideas that can attract other people to look at the products we market, because during a recession of course people will think more about saving on their expenses. in order to be able to meet their needs and if we create a business that has very few enthusiasts of course the business we build will certainly not be able to run well so we have to close it early before we can make a profit from the business we build.

When a country's economy is deteriorating due to decreased activity in the trade sector, of course starting a business is not a good idea unless we have the skills and can sell services, but for a trade business it will not be good, quite the opposite.
There are several things that we can prepare for things that we don't want to happen and one of them is to prepare early and start saving so that we can meet our needs in the next few days when bad things happen, and several other things that we can prepare for are by look for several sources of income so that we don't just focus on or expect from just one source of income.

[slapper]

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

There is nothing much easier to recover from post-recession or inflation because collective awareness is needed for this problem to be resolved. If our age is at the maturity level where we already have a family that needs to be supported then there will be a big impact when inflation or recession occurs because we have the responsibility to meet the costs of life that we live with our family. Preparations for dealing with inflation and recession cannot be done once the event has occurred because it will be quite troublesome to deal with it. We have to have a plan and a financial plan long before it happens, the aim is so that we can control the severity caused by the event and most people don't think long before it happens.

Like the previous discussion, how a person has a good financial plan for living life, has savings and other preparations to deal with it if this event occurs. Sometimes waiting for the government to find a solution is not right because we have responsibilities that need to be prepared for the family as a daily staple food. This is the collective awareness of each individual to reach the stage that needs to be done and there is always a way if someone has a thorough plan to face it.

Recession and inflation are not simply words; they are harsh realities that severely affect communities and families. And of course, preparation is important. You cannot simply wait for the government to make the necessary changes. No, you must act and own responsibility

Savings, investments, and financial planning are the weapons and tools you need to have in your toolbox. Having a sound, unbreakable plan is even more important than simply having one. It involves comprehending the subtleties of international finance and the complexities of the economy. It all comes down to being organized and aggressive. It has to do with group consciousness and group action. It all comes down to doing the correct and required thing. It all comes down to intelligence and strategy. It's all about assuming command and responsibility. It's about doing what needs to be done, doing it right

[Bushdark]

We should be always ready and prepared for the worse because the era that we are now is a jet era when things seem to come to us so quick that we have ever expected. There are conflicts everywhere just like we are seeing between Israel and Palestine people, Ukraine and Russia etc. Preparation for what might comes is what is going to safe us from recession or whatsoever. We need to have different sources of income for us to be bouyant and stand tall so in case we are faced with economy meltdown or something else that might affect our financial capability.

[carlfebz2]

Well, preventatively or repressively, it may have been done, but to deal with this situation, collective awareness is also needed, as you said. And actually, after a recession occurs after inflation, of course it will take quite a long time for the economy to recover so that it is back on a better track. And the government has also made efforts in this regard. It's just that sometimes something that has already happened becomes more difficult to deal with. This is different from when we already have thorough preparation from the start. But the current economic crisis, inflation and recession do not give everyone enough time to make preparations. Because everyone has just finished dealing with the Pandemic. And this crisis occurred as a result of the post-pandemic impact. So it's natural that currently not many people are ready for the current situation. Coupled with war and conflict in the country, everything is getting out of control. All we can do now is just try our best to survive individually. Either by increasing working hours by looking for side jobs or something else.

There is nothing much easier to recover from post-recession or inflation because collective awareness is needed for this problem to be resolved. If our age is at the maturity level where we already have a family that needs to be supported then there will be a big impact when inflation or recession occurs because we have the responsibility to meet the costs of life that we live with our family. Preparations for dealing with inflation and recession cannot be done once the event has occurred because it will be quite troublesome to deal with it. We have to have a plan and a financial plan long before it happens, the aim is so that we can control the severity caused by the event and most people don't think long before it happens.

Like the previous discussion, how a person has a good financial plan for living life, has savings and other preparations to deal with it if this event occurs. Sometimes waiting for the government to find a solution is not right because we have responsibilities that need to be prepared for the family as a daily staple food. This is the collective awareness of each individual to reach the stage that needs to be done and there is always a way if someone has a thorough plan to face it.

Recession and inflation are not simply words; they are harsh realities that severely affect communities and families. And of course, preparation is important. You cannot simply wait for the government to make the necessary changes. No, you must act and own responsibility

Savings, investments, and financial planning are the weapons and tools you need to have in your toolbox. Having a sound, unbreakable plan is even more important than simply having one. It involves comprehending the subtleties of international finance and the complexities of the economy. It all comes down to being organized and aggressive. It has to do with group consciousness and group action. It all comes down to doing the correct and required thing. It all comes down to intelligence and strategy. It's all about assuming command and responsibility. It's about doing what needs to be done, doing it right

It is really just that a foolish thing on making yourself that totally relying about government aids on which we know that it isnt something that you could really depend on for the rest of your life.
Not anytime on which the government could really bring out solutions in speaking into these common situations on which it does really need up that budget on which we know that not anytime that gov't could be having that kind of budget on supporting or making some aids into those people who are really that been affected. Therefore, it would really be that so wise that you should really be acting accordingly or simply you would really be that finding ways or methods on making yourself that sustainable if these economic problems would gotten worst.

How? Find another sideline on which you could be able to make earn more money aside from your day job on which you could really be able to double out your source on which you could be able to
save up or something that do talks about having investment or business on which it is really that always been smart on trying out to deal with things that could potentially give out that kind of benefit
but of course you should not make yourself that too optimistic because chance of failure is there because of the risks but well everything on this world does have its own risks but of course you wont really be
getting something if you wont risk in the first place.

[DVlog]

This is a phenomenon that often occurs in the economy, not a natural phenomenon as you say because recession and inflation arise through economic changes that are not controlled by the parties involved so that it can cause bad things to happen within the economic scope, such as in the example of recession and inflation that has been felt by everyone throughout the world. And the good option is to continue to work hard and save money because only with this can everyone fight recession and inflation through their own lives.

Saving and working hard are efforts that everyone must make, but working hard is not enough if it is not accompanied by smart work. Inflation and recession have killed several sectors and caused economic decline for people to make money. In the end, people's lives have become increasingly difficult because they are unable to meet their needs. Fighting inflation and recession is not always about saving and working hard because it requires collective work from the government, society and suppliers of goods in the market.

Recession and inflation are bad for the economy but not for you if you know how to use them in your favor. In times of recession people sell off their assets and land due to unemployment and financial instability. This is a hard time for most of the people and unemployment creates fear within society that there will be famine so people try to save their money as much as possible. This causes a lack of cash and a drop in demand in the market which declines the price of gold, silver and real estate. I think this is the best time to buy an asset as you can get it below market price if you keep your eye open for such an opportunity.

On the contrary wealthy people use inflation in their favor by taking long term loans from the bank and using those assets to invest in assets like gold, silver and land that have small effect from inflation. The value of their wealth increases when their debt remains the same in number but drops in value.

[Essential10]

A global approach to addressing a recession would involve coordinated efforts between countries and international organizations. These may include fiscal stimulus measures, monetary policy coordination, trade policies that promote economic stability, and cooperation in research and development to encourage innovation and create new economic opportunities. In addition, support for developing countries, social safety nets, and sustainable development initiatives can be essential components of a comprehensive global strategy to mitigate the impact of the recession. As global trends evolve, economic challenges are expected to become more complex. Factors such as technological advances, climate change, and demographic changes are likely to contribute to these difficulties. Adapting to these changes will require innovative solutions and international cooperation.

[pawel7777]

We should be always ready and prepared for the worse because the era that we are now is a jet era when things seem to come to us so quick that we have ever expected. There are conflicts everywhere just like we are seeing between Israel and Palestine people, Ukraine and Russia etc. Preparation for what might comes is what is going to safe us from recession or whatsoever. We need to have different sources of income for us to be bouyant and stand tall so in case we are faced with economy meltdown or something else that might affect our financial capability.

It's always wise to be prepared. The best time for that is during the "good times" when people don't have to worry about their daily living too much. But the problem is that the average person is not thinking about what could go wrong in the future and would rather spend all the resources on pleasant things right now.
The other problem - with the geopolitical situation changing so fast and with super-fast technological growth, it's hard to anticipate where things could go in the next few years. We might be expecting a recession, but could be surprised with World War 3 instead.
I think that ultimately those who live in largely self-sufficient homesteads or sustainable communities (like the Amish), are best-positioned for any type of scenario.

[Mate2237]

Recession is man made and not Natural product, it is only affecting those families that that not part of the national cake or have nothing to do for the survival. God always provide a way to face and over man made recession and Economics Depression. And because of the fear of the unknown we are to plant crops and fruits to sustain ourselves whenever the economic hardship comes. Agriculture is the only solution to overcome this present inflation and the economic hardship in the world.

The world can not solve this inflation issue because inflation has been on ground to suffer the people. No there is another trend on ground now. The advance countries are using the terrorists to dis-stabilize the farmers in the third world countries to lack food products.