Do you feel that the global economy is declining?

[shanhaigamefi]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

[Charles-Tim]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

I do not believe this or the country that your friend is living is somehow not good at all. If the salary are lower than before, the price of goods supposed not to be increasing. What I noticed in almost all countries, as the price of goods and services are increasing, the salary also will increase in such a way that everything will balanced, but the government do the manipulation for their own good.

If you want to know if the global economy is declining, you will need to check the world gross domestic product. If it is higher in total than the previous years, that means the global economy has not declined in value.

You can compare 2021, 2022 and 2024 using the data on this link: https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal). Click on list of countries by GDP (nominal), scroll down to table and click on it to see it.

[Plaguedeath]

It means the salary growth is lower than the CPI (Consumer Price Index) growth.

If the CPI in your country is 10% and your friend's salary growth less than 10%, you will feel there's big difference in long term because the interest is compounding. Your friend need to make a research about the real CPI in your country, don't use a manipulated stats from government.

So when you friend already know how big is the CPI, all he need is to find an investment that can surpass it, Bitcoin is the example.

[legendbtc]

Do you feel that the global economy is declining?

It's not that the global economy is in recession, it's that this has been going on for hundreds of years, and has never stopped. I mean recessions will still happen even when we think we are living in prosperous economic times. Inflation will never stop because the government will always continue to print money and distribute it to the economy. But most don't realize and don't care about this until things get worse and more than they can bear. If there are no preventative measures or solutions for your economy, 5 years from now you will see it will be worse than it is now.

[btc78]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Yes that is the product of inflation.

Although some countries may have it worse than the others. Rich countries have strong currencies but have really expensive living costs which still proves to be a problem to them still.

While with third world countries, they are struggling to have ends meet as the money they are earning barely can buy anything these days. In my country it is now better to just leave and seek job opportunities abroad.

[laijsica]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

It is really sad that many companies are not trying to increase the salaries of the working employees with time or with the country's commodity prices. In this case he has to take out another income source besides the job - I would ask the victim to be more diligent to meet his family's expenses and save a part of the money in BTC. If he could have saved $100 dollars per month for the past 5 years, his financial position would have been much stronger.

[Alpha Marine]

Is it that he lost his job and got another job that pays less than his previous job or it's still the same but with lower pay? It's very rare for a person to earn less than he makes in a particular job after 5 years. With the increase of inflation comes an increase in salaries and minimum wage, so you find out that the salary has increased but the value of the salary has reduced or not increased at all and this affects his purchasing power.

If you want to know if the global economy is declining, you will need to check the world's gross domestic product. If it is higher in total than the previous years, that means the global economy has not declined in value.

Using GDP alone to measure an economy might not always be accurate. Per capita income, purchasing power, inflation, etc. If you look at countries like Nigeria their GDP is increasing but the state of the country is getting worse.

[SAHASAN]

Prices of all commodities are increasing day by day this is a clear inflationary effect.
In my opinion money is never right to be controlled by the government.

[Charles-Tim]

Using GDP alone to measure an economy might not always be accurate. Per capita income, purchasing power, inflation, etc. If you look at countries like Nigeria their GDP is increasing but the state of the country is getting worse.

To know about economy power, DGP is used. Go and read more about GDP to know what it is.

About Nigeria, the GDP the country has in 2014 which was almost $570 billion. It was $441 in 2021. $477 in 2022. $390 in 2023. According to Wikipedia, it has decreased more significantly in 2024.

[passwordnow]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

No, his salary didn't went down but it is inflation that cost his salary to be down. This is a normal thing for most of the workers nowadays, whatever your work is and if you didn't received that much increase then the value of your salary has gone down compared to the prices of the commodities today. It's sad that when it should be a continuous rise against the inflation rate for the salary of every hardworking person but not every company can do that as it also depends on the revenue that they're having. But many of them are abusive despite that the economic situation of many that are experiencing hardship and if the company is doing good, they should give the random raise to all of their employees that deserve it so that they will have at least a mark up or increase against the nonstop cost of inflation.

[Miles2006]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

No doubts, underdeveloped countries suffer from such situation but I think the world economy has not gotten to this, how do you expect people to live comfortable if citizens salaries keep decreasing. The only situation I've seen is lack of development and citizens battling with fixed salary despite the inflation. These are common reasons poverty rate keep increasing in an underdeveloped country, price of goods rising is a problem cause when there's lack of productivity and inadequate resources to produce goods it becomes a burden to the nation. The limitation of food supply can build inflation so fast, if countries facing such problem manage to get limitless production of goods etc, the inflation rate will definitely reduce. Lack of all this things can contribute to a poor economy cause you can't expect a country that's dependent on crude oil, cocoa farm etc to perform accurate without the necessary resources.

To know about economy power, DGP is used. Go and read more about GDP to know what it is.

About Nigeria, the GDP the country has in 2014 which was almost $570 billion. It was $441 in 2021. $477 in 2022. $390 in 2023. According to Wikipedia, it has decreased more significantly in 2024.

Yeah, GDP can be use to measure the economy power and GDP is the most common cause it gives information about domestics product only like within but if talking about GNP we're including both domestic and foreign.

[Uhwuchukwu53]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Yes that is the product of inflation.

Although some countries may have it worse than the others. Rich countries have strong currencies but have really expensive living costs which still proves to be a problem to them still.

While with third world countries, they are struggling to have ends meet as the money they are earning barely can buy anything these days. In my country it is now better to just leave and seek job opportunities abroad.

The problem is never centered on the salary but on inflation as many has pointed, here in my nation inflation has triple fron what it has originally been and that has leads to strong rise in all commodity that even some salary struggle to survive in terms of given the citizens Three square meal.
I believe this inflation is as a result of COVID in connection with some of the nation that is already engage in war such as Russia and Ukraine it's coursing global economy inflation though it may not be too visible to some nation but nation like my is heating hard, experiencing it most base on third world country.

[Jawhead999]

No, his salary didn't went down but it is inflation that cost his salary to be down. This is a normal thing for most of the workers nowadays, whatever your work is and if you didn't received that much increase then the value of your salary has gone down compared to the prices of the commodities today. It's sad that when it should be a continuous rise against the inflation rate for the salary of every hardworking person but not every company can do that as it also depends on the revenue that they're having. But many of them are abusive despite that the economic situation of many that are experiencing hardship and if the company is doing good, they should give the random raise to all of their employees that deserve it so that they will have at least a mark up or increase against the nonstop cost of inflation.

The company has nothing to lose, they know that the employees already fine with their jobdesk, environment and colleagues, so they will not going to resign because for some people they value mental health over money. If the employees resign, there always be a lot people want to get this job, it makes the former employees can't go back if they're not happy with the new company.

This case is really hard and you can't wish the boss will be kind to the employees, working abroad in low populated country is better.

[Mauser]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

How is this possible, does this include bonus payments or only his fixed salary? Which would mean that he agreed for his salary to be lowered, or he could ask for the full pay based on his contract. I think it's a bit misleading to compare current salary to the pre covid levels. Especially with bonus and Christmas payments there was more money being paid out. As for the global economy I think the world is doing fine. Stocks as an indicator or future corporate earnings are near ATHs. Some countries are expected to lower their interest rates again later this year which should give another boost to the economy. With the Ukraine war still ongoing and no end in sight and also a possible Iran Israel war looming the world is going well at the moment.

[Die_empty]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

I don't think salaries have reduced compared to the past few years in my country. Salaries have kept increasing because there have been periodic minimum wage adjustments but the problem is that inflation has been high. Due to inflation money has consistently lost value. Inflation has also resulted in high cost of goods and services which affects the purchasing power of the people negatively. Currently, people receive high salaries that have no value. A few years ago people earned $5 as a monthly salary and they could afford almost everything basic things they need for a whole month. Now people earn more than $250 monthly but it is not enough to cover the cost of living for a month.

[peter0425]

Prices of all commodities are increasing day by day this is a clear inflationary effect.

It’s really shocking when you buy goods and you compare it to its old prices. Nowadays, everything is just so expensive

In my opinion money is never right to be controlled by the government.

The government controls its money to keep their economy healthy. I agree that we should have our own control over our own money however without a government governing the entire financial system, a lot could go wrong.

Hyperinflation would be worse actually and the poor will most likely become poorer.

[YOSHIE]

One of my colleagues told me that his salary is lower now than it was five years ago. Sadly, the price of goods is rising.

Almost all countries are experiencing an economic crisis, this is happening in almost all countries, as you said globally, but it's not that your salary is low, the value of the currency is deteriorating, needs such as goods are soaring, this phenomenon is close to disaster. callinflation.

Lately the price of goods has soared, in the past you had a salary of $1000, for example, with that amount of salary you could buy a motorbike and still be able to save, now you no longer have to add another $500 to be able to buy a motorbike, This means that if your current salary is equated with minus goods, things like that cannot be blamed on salary, what should be blamed is on the goods we need.

In this way we realize that the current value of money is no longer valuable if it is exchanged for goods, if this problem the government does not solve it, In the future, maybe after receiving it, you will only be able to get one sack of wheat. The problem you are feeling right now is a big threat to the world.

[kryptqnick]

If we're looking at 5 years, then I agree that in many countries, including mine, things are getting worse. Salaries are higher in local fiat, of course, but the purchasing power is lower than it used to be, so to improve your life, you need to be in active career growth to outrun these changes.
That being said, I'm not sure if it's a global trend, because in my country it has regional causes that aren't relevant elsewhere. I tend to agree with Charles-Tim that objectively, the global economy isn't on decline.

[bittraffic]

The global economy has been falling since COVID and it's getting worse since. The number of credit card delinquents is increasing and homelessness is getting worse than it was back 10 years ago therefore global economy is really declining. There may be parts of the world where the economy is better like in the Middle East and Asia but they are still affected by money printing and the wars.

[el kaka22]

It has been declining for many years now, nothing new. I think it was late 80's that we first seen a crash that was caused by the modern financial companies, not some big crash, crashes happens all the time, even in middle ages they happened. I am talking about modern financial companies such as wall street and investment firms and all that making something that would not be acceptable and they just go for the highest risk possible to make more money from money and they ended up causing a big trouble.

Ever since those years, we keep having these companies going for bigger and bigger profits and failing and then causing us to have terrible finance because they keep getting bailed out, and in return we pay for that.