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.

[1715266754]

1715266754

[1715266754]

1715266754

[1715266754]

1715266754

[1715266754]

1715266754

[1715266754]

1715266754

[1715266754]

1715266754

[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.

[Cryptomultiplier]

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.

I too don't think for one that the global economy is on a decline. Am sure any economic problems may be more due to the causes of government policies and regulations within your region or country.
Also, I think that the global economy is nearing a time when change gets to flush out certain reliance on some currency policies that are no longer favorable to the citizens and with the emergence of cryptocurrency and the BRICS currency initiative, more is expected to happen to alter certain economic ties and create new ones to bolster the macroeconomics of the countries of which the change is to happen within .

[Jatiluhung]

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.

This is a fact. Currently, it seems that most of us are also aware that the global economy is declining. But in the country where I am now, things are actually still going quite well. Even when other countries are experiencing difficulties due to soaring natural oil prices. But it doesn't feel like it here. It's just that inflation is clearly felt. Well, our salaries might increase every year. Whether it's because of a promotion or something like that. But the fact is that its value continues to decline quite clearly. And that can be proven by the fact that 5 years ago we could buy a lot of things with the salary we got for 1 month of work. But today 1 month's salary cannot buy many things even though the amount has become more and more growing.

[dothebeats]

The value of your friend's salary has declined, that is a fact. Even though its face value is continuously increasing due to appraisal, bonuses, and promotions, the things that can be bought with it has surely diminished over time. The prices of goods are continuously rising, and it does not match the salary increases across all economies. This is why it's important to have a hedge on what we receive for our salaries, perhaps gold, crypto, or other investments that are outperforming the inflation on our own countries.

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.

Even promotions no longer provide security against inflation. Unless you're promoted into an executive position, most promotions only increase your responsibilities but not the reward based on my experience. Companies no longer value their best performing employees, they just use them for their own benefit.

[passwordnow]

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.

I agree about that going to countries with low population as the demand there is high for workers. And with that, it is setting the salary of the most to be in that kind of expected salary of yours. It's a fact that when a company wants to fire you, you'll just get fired for whatever reason they'd do, like cost cutting, underperformance or any of the reason that they can set. It's hard for those employees to absorb that especially if they've been loyal to them for a very long time but, they can't do anything about that if the company decides to. However, for the past decade, I've seen companies although they're only few but they do value their employees and takes care of them as a real family. That's why for somebody who has got type of company, I understand that it's not all about the salary why they're staying but it's about the treatment that they're getting.

[Poker Player]

Well, no, I don't feel it. What I see is a lot of people with big cars for the salary they earn, acquired with leasing or 10-year financed and in some cases rolling in negative equity of the previous car, high-end cell phones also financed, restaurants full, and idyllic lives on Instagram. Which makes me think that, apart from the few who have real money, what I see reflects that access to and use of credit has hardly reduced, despite interest rate policies, which is consistent with recent inflation data.

[retreat]

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.

If that was the case, why didn't he try to find a better paying job somewhere else? why should he stay in a place with a fairly low salary. Because the prices of these products will indeed increase every year due to inflation. You cannot expect that food prices in 2016 will be the same as food prices in 2024, there will definitely be an increase. That's why the government increases the minimum wage every year to adjust to inflation, so when someone gets the same salary every year without any increase it means the company is at fault and they can be reported to the authorities.

[wxa7115]

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.

You cannot really use a sample size of one to come to that conclusion, however due to the pandemic it is true there are many countries that suffered severely because of it, and in a way many of those countries have not recovered yet.

But at the end each person is responsible for their economic future, so if the salary your friend receives is smaller than what it was 5 years ago, maybe his occupation is being replaced by AI or other forms of automation, and maybe it is time he looks for other ways to earn a living.

[bitLeap]

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.

Lower salaries or because their value is influenced by inflation, while traders in the market respond more quickly by increasing prices. Some responsive countries and compliant companies will create new policies by increasing wages, but not all companies do this. Instead of increasing salaries, they actually impose more additional tasks on employees in exchange for working overtime if they want to get more salary. Traditions like this no longer apply, and the government often does not care about company operations which impose additional burdens beyond the main duties of an employee. However if you look at the global economy, there are many factors that influence its decline, such as war conflicts which usually cause trade relations with related countries to decline, demand in the market experiences negative things while domestic production continues, workers have to be paid while target goods on the market are hampered. As a result companies will take action to reduce employees or other options to reduce salaries because product demand in the market is decreasing.

[0t3p0t]

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.

Inflation at it's best. I am wondering where your colleague is at the moment. Here in my country it's all the same local currency is depreciating it's value while prices of goods are getting high so yeah something is wrong in the economy that needs to be fixed immediately.

[Alpha Marine]

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.

I know that the Nigerian GDP has shinked a lot over the years, that's why they have been in a recession a few times over the years.

I agree that GDP is the factor used to measure economic growth, I am not disputing that fact. I am only making an observation that I usually see when looking at GDPs of countries. I mentioned Nigeria because I read recently that the GDP has increased by a certain percent in that particular quarter, but how has that affected the average Nigerian?

In Africa, Nigeria has the second best economy in terms of GDP after Egypt, but can we use that to say Nigeria is the second best country to do business or the second best country to work in?

Nominal GDP of African countries
In the link above you'll see that the difference between between the nominal GDP of Egypt and Nigeria is very little, but looks at the per capita of those countries. You'll find out that Nigeria has one of the worst per capita among the top countries of the continent. When you consider the fact that inflation in Nigeria is around 30%, you'll realise how bad it is for the people despite the GDP being one of the best in the country. Also when you look at the percentage of people living below the poverty line, you'll see that Nigeria is on 40%, there are reports that show that that figure is around a 70% region, but I'm sticking with Wikipedia.

I'm stating all these so we can get a picture of how things really are. My point is, using GDP to tell if a country is progressing is okay, but in few cases, it doesn't really tell the whole story.

[Charles-Tim]

Nominal GDP of African countries
In the link above you'll see that the difference between between the nominal GDP of Egypt and Nigeria is very little, but looks at the per capita of those countries. You'll find out that Nigeria has one of the worst per capita among the top countries of the continent. When you consider the fact that inflation in Nigeria is around 30%, you'll realise how bad it is for the people despite the GDP being one of the best in the country. Also when you look at the percentage of people living below the poverty line, you'll see that Nigeria is on 40%, there are reports that show that that figure is around a 70% region, but I'm sticking with Wikipedia.

Even that link above is for 2023.

This is the current one: https://en.m.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

Just look for African countries and you will know Nigeria is the fourth.

This was yesterday news on Bloomberg:

I have just seen this on Bloomberg which was yesterday news.

Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show.

The IMF’s World Economic Outlook estimates Nigeria’s gross domestic product at $253 billion based on current prices this year, lagging energy-rich Algeria at $267 billion, Egypt at $348 billion and South Africa at $373 billion.

The GDP recently is less than half of what it was in 2014. It is quite unfortunate for Nigeria.

[bitzizzix]

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 seems that no company will reduce salaries as low as or below the minimum wage because if that happens the government will act or workers will quit because they cannot meet their needs. Because from year to year the salary will definitely increase and adjust to the increase in all goods due to inflation.
Perhaps the increase in inflation is not balanced by existing salaries, and there are also salaries that are still below the minimum wage standard, even very low. Because it's not a big company or it could also be because the minimum wage in the area is very low, and if that's the case why not look for or apply for a job that provides a standard minimum wage or more.

[Despairo]

It seems that no company will reduce salaries as low as or below the minimum wage because if that happens the government will act or workers will quit because they cannot meet their needs. Because from year to year the salary will definitely increase and adjust to the increase in all goods due to inflation.

That's your thought, but not every nations, companies and positions will follow that.

Reduce salaries is hard, but during pandemic, they can cut whatever they want and the employees don't mind with that.

Even the workers choose to resign because they feel the salary is too low, there's always be a person will to work for the same position with less salary. So this is a win-win situation for both former workers and companies.

if that's the case why not look for or apply for a job that provides a standard minimum wage or more.

It's easy to say that done, if there are many high paying jobs opened, the @OP friends won't complain.

[Marvell1]

It seems that no company will reduce salaries as low as or below the minimum wage because if that happens the government will act or workers will quit because they cannot meet their needs. Because from year to year the salary will definitely increase and adjust to the increase in all goods due to inflation.

That's your thought, but not every nations, companies and positions will follow that.

Reduce salaries is hard, but during pandemic, they can cut whatever they want and the employees don't mind with that.

Even the workers choose to resign because they feel the salary is too low, there's always be a person will to work for the same position with less salary. So this is a win-win situation for both former workers and companies.

Yes, it depends on each country. In my country, some companies do not hesitate to reduce workers' salaries on the grounds that there are not enough costs to maintain the company during difficult economic times. Those who can accept it will continue to work, those who cannot accept it can quit immediately.

According to the provisions of labor law as well as the regulations of any company, the salary will increase according to working time, experience... but on the condition that the company develops well and does not encounter difficulties. But once difficulties arise, those regulations will no longer be effective and that is a disadvantage that workers must accept.

[Volimack]

The world economy is shrinking because inflation has raised the prices of many goods that are difficult for low income people to afford. The economy has many problems some of which are very fundamental. As long as these are not resolved the country's economic development will not accelerate. No government is able to function peacefully due to political instability. Due to political instability economic development has been greatly hampered.

[suzanne5223]

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.

He/she was right. Although the salary paid to workers now is increased from 5 years ago salary but judging by the fiat currency de-value it is much lower than the previous year's salary and this shows that the global economy is on a downslide motion.
Sadly, the government never agree to this and always tell the people everything is fine while the main cause of the problem start from the yearly printing of new fiat currency.

[wiss19]

If we're looking at 5 years, then I agree that in many countries, including mine, things are getting worse.

I think it's better to not feel that way or be negative because I'm sure you won't like its effects. Instead, what mindset we should have is to be positive at all times and believe that things will only get better.

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.

At least, the government or the employer made an effort to increase our salaries even though inflation might still rise because it is still fighting its effects but if we want to ensure that our monies are still valuable, we can do investing. To have an active and growing career is also great, as this ensures financial stability. For now the decline may not be global but there will be times that all will now experienced what the others have experienced. So don't be confident and always prepare your selves.

[BD Technical]

In the current situation, all countries do not always have the same worm and the condition of the world where worms are very good, in fact, our Bangladesh is in this category of people.  The pictures are very good in the country or many categories are very high but there are many categories in Bangladesh and here the salary in garment or any other factory is very low.  The salary of our country should be increased because a minimum or a small person who has lehlpar or a category wage earner should get twenty thousand rupees even if the salary is minimum.  A career or a helper's salary is not equal to the salary of a person who does bad business for a living and develops finances and it becomes difficult for him to live his life.

[Kriptogram14]

At least, the government or the employer made an effort to increase our salaries even though inflation might still rise because it is still fighting its effects but if we want to ensure that our monies are still valuable, we can do investing. To have an active and growing career is also great, as this ensures financial stability. For now the decline may not be global but there will be times that all will now experienced what the others have experienced. So don't be confident and always prepare your selves.

Yes, that's right, because of the aggressive increase in reference interest rates carried out by the central banks of various countries in an effort to reduce the rate of inflation, yesterday was hit by Covid-19 until now the economy has not recovered properly. Due to the increase in energy prices and reference interest rates in various countries, inflation has soared , until now we still feel inflation, because the world is also facing the challenge of climate change which will greatly affect state finances, the economy and people's welfare, therefore we have to look for solutions so that the economy in our country improves again, such as improving the quality of ourselves. and develop innovations so that our country can quickly recover from the impact of the economic downturn.

[Cryptoprincess101]

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 am yet to comprehend what you said about your friend because is it that the amount he earns is no longer enough to Carter for his daily expenses? If his salary is lower than it was 5 years ago that should imply that the cost of living has reduced as well because I don't see any reason why a government, individual or organization will reduce the salary of it's worker even when the cost of earning a living is very difficult in such a country. Maybe you should have given a proper and more comprehensive information about what you said.

Global economy is meant to decline and also increase some times as that is what keeps the world economy in a balanced state so you don't expect the world economy to keep flourishing without recording recession, because normally, when a country experiences recession it makes  such a country to realize that the economic team are not doing enough to stabilize their economy so it also gives room for more economic awareness on how to manage a country's resources judiciously.

[slapper]

Top leaders' purposeful choices impact the global economy. Your friend's pay falling? That's not bad luck; it's the system working exactly as intended. Policies that prioritize profits above people are to blame. Prices rise, the gap between rich and poor grows, and we're expected to handle it like a natural disaster?

Falling salaries and increased costs aren't a coincidence. This is a rigged game where the powerful call the shots and we pay the price. Greed and working-class neglect have caused this storm. Will we see this ship sink? Or will we take a bucket and bail? A major renovation is needed. We must level the playing field and distribute riches. Hold leaders accountable. Because if we do nothing, tomorrow will be worse

[_BlackStar]

Top leaders' purposeful choices impact the global economy. Your friend's pay falling? That's not bad luck; it's the system working exactly as intended. Policies that prioritize profits above people are to blame. Prices rise, the gap between rich and poor grows, and we're expected to handle it like a natural disaster?

Falling salaries and increased costs aren't a coincidence. This is a rigged game where the powerful call the shots and we pay the price. Greed and working-class neglect have caused this storm. Will we see this ship sink? Or will we take a bucket and bail? A major renovation is needed. We must level the playing field and distribute riches. Hold leaders accountable. Because if we do nothing, tomorrow will be worse

You can't expect a system to be completely fair - that's simply impossible. The system is created for personal gain - while the consequences are borne by the common people. You must have seen the fact that the poor get poorer - while many officials become very rich after only a few years as officials. This is something that is commonplace in the government system that has been built so far - you can complain, but you can't demand that things change completely.

The national and global economies are both unhealthy - meaning there are unresolved problems. As bearers of all consequences - we must be smart enough to manage our own finances and do everything we can to get more. It's impossible to become rich with just one source of income - it's only a step before you fall into poverty. Having more than one source of income is mandatory to maintain financial stability - while we must ignore issues that are essentially the government's responsibility.

[Woodie]

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.

This is definitely the literal definition of inflation: "too much money chasing few goods"

But the thing is that every country has its own indicators to show how an economy is performing, and things like technology, politics are among some factors that will influence how a country's economy will perform and can't be based on a global scale...And if we talk about our current times, so many indirect factors affecting our economies such as COVID, Drought, Floods, Earth 🌍 quakes, Climate Change, the War in Russia, Now conflict in Isreal and all this affects us direct or indirectly... Can we still say the global economy is declining, well it all depends on what safe guards individual countries have put but the factors described do leave a negative impact on economies for sure!!!

Btw read some article few days ago saying Russian economy is booming even with the war at hand, so like I said we can't use a global scale but individual countries scale to tell the performance of a country...

[Juse14]

It cannot be denied that the current global economic situation is not good. With all the conflicts that occur, this makes the economic situation uncertain, where the prices of goods and services continue to increase along with the skyrocketing price of petroleum. So there is a disparity between income and expenditure, and quite a few people even have to take out loans to survive and meet their daily needs. And maybe these will be difficult times for those who don't have enough savings and investments. Where they might be overwhelmed enough to be able to meet their needs and pay their bills.

Apart from the current situation which shows how important it is to have savings and investments, the situation we are currently facing also shows how important it is not to only rely on income from one source.

[NeuroticFish]

It cannot be denied that the current global economic situation is not good.

I do agree with the first post: the salaries tend to remain small and the prices are skyrocketing; what happens with the prices is normal, since all the central banks are printing money like crazy since the COVID days. What happens with salaries.. is not.

But the signals I've read here and there about the industries are better than in the last 2-3 years, quite some businesses seem to be recovering. And that would be the opposite of decline, even though it needs more time on this trend in order to gain the so needed confidence.

[Fortify]

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.

The global economy declining? Nope. What you'll find is that incessant globalization will mean every job is scrutinized for the possibility that it can be outsourced or automated. That means that many average IT jobs will now have wages suppressed, because there are companies out there who might offer up an Indian worker for a fraction of the salary of a "Western" worker. Whether they are the same quality or competent is up for a debate, but company directors are often only interested in the bottom line and results can take a long time to deteriorate and show through a difference in standards. Ultimately salaries across the globe are equalizing, which means people in richer countries will get less and in poorer countries, slowly they will get more.

[Mate2237]

 No one salary is reducing but it is stagnant in one place while price of things in the rising side and from your topic global economy is not declining but individual country economies are declining and even the decline happened and affect the African countries more than the others. If the world economy is declining then Economic depression will occur and I don't think such is happening for now.

But my country economy is declining and dollar.is rising. And even at that things are rising while minimum wage or salaries are stagnant in one place so Civil Servants who are working on the government parastatal.arw still complaining and suffering like the jobless.

[Mrbluntzy]

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.

If your colleague is receiving exactly the same value he has been receiving in the previous year but the value of the money have reduced its understandable to say that inflation has caused the price of everything to go up. Inflation can make money to lose purchasing power so badly to the extent you can not even use your salary to achieve so many needs. You can advice your colleague to look for another high paying job better than the one he already has.

[Hypnosis00]

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.

Inflation affects an individual's budget making most of us think that our salary is not enough anymore. Unfortunately, the majority are unprepared for this situation and feel that we're pushing down to poverty. The economic growth of the country is a way to measure the current situation and how it looks in the coming years. Seeing declining growth makes people think negatively and will affect their mindset.
We are not yet in the dark about feeling that we're going to lose hope but the government should never disregard the situation. But of course, we don't need to depend on them either. We also need to find ways how to overcome this inflation and one thing we can do is to increase our sources of income.

[avp2306]

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.

He is defeated by inflation and it seems your friend didn't do anything to get another source of earning since maybe he's relying only on his job that's why he's been hurt so bad on current situation happened nowadays.

This is how important to step out on our comfort zone then try to find a lot more ways to legally earn so that once if there's uncontrolled changes will happen we can still leave according to our means and will just ignore those inflation discussion since we are fine and comfortable because we have a lot of sources to grind. Each situation change and we cannot go back before if we think we are fine for having one job for sure in future this is not enough so we need to grind to avoid experience hardship or worse to get broke.

[macson]

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.

everyone in the world is currently feeling the same thing, unstoppable inflation means that many people can no longer afford to buy goods at the same price 5 years ago, even those who are running a business are also feeling it, the price of basic materials for running a business has risen several percent, some have even increased by 100% while the costs charged to customers are still the same as before the costs increased.

nowadays we have to live wisely and frugally, don't let excessive spending make us run out of money quickly.

[MissNonFall9]

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.

When the price of goods in a country increases relatively much and the per capita income of the country does not increase in that proportion, it means that the rate of inflation of the country has increased a lot. This means that either the expenditure has increased compared to the country's income or the level of money laundering has increased in that country. So I think that such an incident happening from country to country is an internal problem of that country. I don't think it has relation with the global economy.

[tabas]

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's true that the price of goods are rising and that's areality that everyone has to accept. Now, I see a couple of things that are being experienced by your colleague that didn't foresee.
1. Your company isn't giving a yearly raise or performance raise.
2. Your colleague isn't upskilling and the company are limited in budget for pay raise.
3. Your colleague didn't planned for his future raises and personal economy and that's why he became stagnant.

[shield132]

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.

In poor countries, it doesn't work that way. Usually, product and service prices go significantly up and salaries stay the same or in some of the worst circumstances, they might get lower. For example, salary in informational technology in my country is going significantly down because there are too many software developers locally and competition is very high. Inflation is super high and salaries of UI/UX designers and developers are going down. As soon as many local people start working online on websites like Upwork, that situation might be fixed but I am not sure. My family could buy more with 50% of our salary 7-8 years ago than it can buy today with 100% increased salary.

But the signals I've read here and there about the industries are better than in the last 2-3 years, quite some businesses seem to be recovering. And that would be the opposite of decline, even though it needs more time on this trend in order to gain the so needed confidence.

In my country, businesses are doing way better today than they were doing years ago but their appetite went up and they want to keep as much profit as possible. I mean that if business owner is a pig, even if it recovers, it wont care about employees because it senses that profit is increasing and his own appetite should grow big.

[gunhell16]

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.

When it comes to prices rising, that is not actually new in these circumstances that all countries are facing. As a matter of fact, there are even other countries where the salaries of ordinary people are more severe, such as in the countries of Africa and other ASEAN countries.

I don't understand what you're saying, op, if the person you're referring to has lost his job or his previous salary, which was small, has decreased even more now that we are facing the problem due to inflation.

[tsaroz]

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.

Of course it is. The largest factor is decrease in population rising rate.
Our economy is designed considering an increase on demand for everything be it product or services. Every company compared their yearly finance looking for growth. That was all good considering the rapid pace the population was rising. The demand for smartphone is an indicator how large the demand of a new tech was for the growing population from 6 billion to 8 billion. Now the demand has halted. People use a smartphone for years and if it's working, there are people willing to buy it second hand.
The population of the world is rising but at a very slower place, the growth too are in poor and conflict zones where people still lacks capacity to buy stuff. When there's no demand of product and services, there are lesser jobs and with more competition, lesser wages.

[NeuroticFish]

But the signals I've read here and there about the industries are better than in the last 2-3 years, quite some businesses seem to be recovering. And that would be the opposite of decline, even though it needs more time on this trend in order to gain the so needed confidence.

In my country, businesses are doing way better today than they were doing years ago but their appetite went up and they want to keep as much profit as possible. I mean that if business owner is a pig, even if it recovers, it wont care about employees because it senses that profit is increasing and his own appetite should grow big.

That's 100% correct. Just then the correct way to put it is that common mortals like us get less fiat for same work and our life is getting more difficult(*), not that the world economy is declining, isn't it?

(*) of course, Bitcoin fixes this and the usual morale is that we should still stack sats as long as we can

[harapan]

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.

Additionally,there seems to be no remedy to recession.Recession has been on for years now and we've all survived it in diverse ways.Recession could end but it takes times for a country to recover from her losses and economic slumps.

Normally,recession is a significant decline in economic activity across different sectors that lasts for several or more months,which in turns slows the economic growth and impede the country's resources and penetrate individuals livelihood.
The future continues to depicts that there are greater chances of going into recession but its relatively not important,just sort out preventative measures appriopriately.

[Egii Nna]

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 can actually happen, but it will be due to the place of his work, or, as a result of the work load, maybe the quantity of the job he was doing before has been reduced, or the organization or company where he is working has a drop in their revenue as before, which, as a result of that, will make them reduce their worker, or rather reduce the payment of their worker's salaries. so that they can sustain their business, which is caused by inflation, and the high cost of goods can affect both the worker and the owner of the business.

So I can classify this as a result of the inflation that is affecting the country, which also has a solution that will help you tackle the problem of the inflation because, for the companies, they will have to negotiate with the supplier so that they will find a sweet-able price of their commodity in order to sell it to consumers, and for the workers, their solution will be to look for another source of income or just to have a meeting with the manager of their workplace to get more allowances in order to be able to afford the goods they need in the market.

[CageMabok]

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.

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

[AmoreJaz]

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.

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

And this is the very reason why aside from your major income earner, one has to find alternatives or other sources of income. It is up to you also on how you will manage your finances. If you think you need to tighten your budget, then, don't buy unnecessary things. Stick to your plans. You can always buy what you want if you have extra money.

Below are just few simple tips to survive in this economic challenge -
> Pay your monthly bills, don't delay as it may incur further charges
> Don't take a loan, if you don't need it (do take note of the interests involved)
> Use public transport as much as possible
> Make your own meal
> Live simply, don't buy extravagant/unnecessary items
> Tend your own garden, even a small/terrace-type one
> Practice de-cluttering, sell things that you feel you don't need anymore

[Reatim]

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 am yet to comprehend what you said about your friend because is it that the amount he earns is no longer enough to Carter for his daily expenses? If his salary is lower than it was 5 years ago that should imply that the cost of living has reduced as well because I don't see any reason why a government, individual or organization will reduce the salary of it's worker even when the cost of earning a living is very difficult in such a country. Maybe you should have given a proper and more comprehensive information about what you said

There’s so many ways to understand what op said.

Do they still have the same job after 5 years or did they get demoted or did inflation strike as harder as we would have liked and now even though we have the same salary, it has less purchasing power? Either way I can feel that way too.

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

[_BlackStar]

-snip-

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

I really want to say that it's not something that many people want - but it can't be helped, that's the reality they have to accept. Of course there is still an opportunity to increase their income level if they are interested in business and investment - however, most employees are those who are too absorbed in their comfort zone and find it difficult to consider risks.

There is no room for improvement if they don't want to move forward and accept risks - if they are only busy with their comfort zone, then real difficulties will await in old age. Businesspeople are those who have good hopes for the future, especially in preparing for their old age without having to work - but employees always find it difficult to get that if they don't have a side business.

[eightdots]

-snip-

So many goods are now x much more expensive than they were before yet we are still stuck with the same salaries.

I really want to say that it's not something that many people want - but it can't be helped, that's the reality they have to accept. Of course there is still an opportunity to increase their income level if they are interested in business and investment - however, most employees are those who are too absorbed in their comfort zone and find it difficult to consider risks.

There is no room for improvement if they don't want to move forward and accept risks - if they are only busy with their comfort zone, then real difficulties will await in old age. Businesspeople are those who have good hopes for the future, especially in preparing for their old age without having to work - but employees always find it difficult to get that if they don't have a side business.

Not everyone may have the opportunity to increase their income. Therefore, the fact that salaries do not increase, but product prices increase, reduces the living standards of many people. The failure of states to prevent this puts these people in a difficult situation.

Some people who have the capacity to invest do not prefer to take risks and try to live on their salaries. I'm not criticizing what these people do because they have the possibility of losing their money in risky markets. That's why these people do not prefer to invest in the risky market, and as the economy deteriorates, the purchasing power of their salaries decreases. There may be different ways to deal with this situation, but getting out of your comfort zone may not be as easy as you think.

[InfinityExists]

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.

In my country and experience salaries have increased but are still lagging behind inflation and rising prices.

[MiF]

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.

In my country the salary is not lower it is rising, but the price of goods is also rising 65 to 75% of its price five years ago. That is why even if the salary is rising the salary is still short to support the needs of the family almost every year the price of goods is rising but the salary is not so poor will become very poorest.

[Strongkored]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

[Smack That Ace]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

[angrybirdy]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

This is exactly what we need to do, believe it or not, those in government are just fooling us so it's better that we put ourselves first because nothing will happen if we continue to rely on what they do, we are the one who will adjust to what is happening because if we don't prioritize ourselves, we will be left behind. Yeah right, the only thing that we can do is to adapt the changes and just go with the flow.

[MissNonFall9]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

[Promocodeudo]

COVID19 had a very big effect on the global economy, Les we for during that period many country economy was already experiencing problem before COVID hit very hard and it happened very sudden, what some countries are facing today is as a result of the consequences of COVID, this is really a big issue and it will take a strategic plan from a good economic team to solve this kind of problem that is been faces by the world, another problemost countries are encountering today is bad leadership, th government of many country has failed to come open to tell their citizens the truth,mainly African countries, many African countries are experiencing food shortage and scarcity because their government refuse to do the needful, so for me the global economy is declining though many countries has been trying not to allow it to excalate to failed level.

[Smack That Ace]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

[Assface16678]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Exactly! With current situation right now in global economy or in your own country economy we cant solely rely on government yes they maybe doing something in order to help us but the thing is inflation rate or anything that could make our lives hard is inevitable, so its ab indication that we people as an individual should be the one that will make our lives better, or in order to survive in every daily basis, what I mean is that if you kmow your salary is not enough for you and your family and it is not enough for you to buy what you want and needs then you should do something, something that could maake you have extra income, for example doing investments or business, simple mske use of your intellectual or your talent in something, I'm sure all of us has its own talents and capability, make use of that in order to earn money in that way you will mot rely on government and wait for their promise that they will make the lives of its citizen better.

[wxa7115]

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

[slapper]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Exactly! With current situation right now in global economy or in your own country economy we cant solely rely on government yes they maybe doing something in order to help us but the thing is inflation rate or anything that could make our lives hard is inevitable, so its ab indication that we people as an individual should be the one that will make our lives better, or in order to survive in every daily basis, what I mean is that if you kmow your salary is not enough for you and your family and it is not enough for you to buy what you want and needs then you should do something, something that could maake you have extra income, for example doing investments or business, simple mske use of your intellectual or your talent in something, I'm sure all of us has its own talents and capability, make use of that in order to earn money in that way you will mot rely on government and wait for their promise that they will make the lives of its citizen better.

Government handouts in this economy? Forget it. Inflation's a monster, eating your money for breakfast. But waiting around? That's a loser's game. We do things differently.

The truth is, you've got the potential for greatness. Skills, ideas, whatever; that's your goldmine. Turn it into something real; side hustles, smart investments, maybe your own business. This is how you make it, not with your hand out. I know it's tough. But easy doesn't build empires. Stepping up, pushing yourself, that's where the true power lies.

Waiting on the government? Waste of time. What do YOU love? What are YOU driven to do? Figure that out, hone it, and we'll build financial security ourselves. Because at the end of the day, true freedom comes from knowing you made your own success. Isn't that the American dream, the human dream, after all?

[HONDACD125]

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

There is no doubt that everyone needs to strive to have more sources of income so that they don't face difficulties in hard economic conditions, but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

[Iranus]

In fact, what makes salaries smaller is because of the increase in the price of goods that has occurred at this time so that many people feel that their salary has been reduced at this time and have to find another job to support their own income at this time. So that everyone should not complain about any conditions other than having to keep trying in other, more different ways so that they can face the current conditions of increasing prices of goods.

There is no doubt that everyone needs to strive to have more sources of income so that they don't face difficulties in hard economic conditions, but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

I believe that governments and businesses want to increase wages for their people and employees. But that is not as easy as we think because if we also increase wages to match the increase in goods, controlling inflation will be even more difficult, and may even cause economic collapse. 

Similarly, instead of increasing wages, why doesn't the Government find ways to reduce commodity prices, simply because they cannot do it and face many difficulties due to related factors. With the design of fiat money that can be printed freely, inflation is inevitable. We need to adapt and the solution of finding extra income is what I find most effective.

[m2017]

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.

Wage indexation occurs less than inflation increases, and over a long period of time, wages become less due to a decrease in the purchasing power of the money received.

There is no doubt that everyone needs to strive to have more sources of income

Each source of income requires time investment, and there are only 24 hours in a day. This creates a limit on income.

but what should actually be done about salaries is that the government and private sectors should increase the wages when there is an increase in the prices of good and services knowing that the cost of living is higher compared to past times and their employees would need more value to sustain in such conditions.

What should be done does not mean what will be done. Employers rarely index salaries, because it is unprofitable for them. Why do this if employees are already working at the same rates.

Don't you think this will create a vicious circle? Prices are rising -> Salaries are rising -> Purchasing power is increasing -> Demand is increasing -> To please supply, prices are rising again.

The result is exponential economic growth with inflated prices and inflation. This is how a bubble grows in the modern financial system.

However, we don't see such things happening. There might be one or a few private companies that might think of the well-being of their employees and start an initiative like that but the majority won't do it and their employees will suffer badly in bad economic situations.

These employees will simply be fired as a result of business optimization.

[justdimin]

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

Governments may not be all powerful, but at the same time we are talking about the place where we pay so much of our money. If they are capable of taking our taxes so much, I mean most governments literally get half of our income, then they should be able to help us during bad times as well, otherwise why are we even paying them?

I think we should be asking and demanding a lot more from governments and we are not really making it work and people who like to vote for certain people, end up not saying anything against people they vote for, which makes those people a lot more confident on taking our money and they just end up not making any improvements. We should reconsider that and start to just consider how we could make it work with a lot more demands from them in exchange for paying that much tax.

[MissNonFall9]

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.

If the salary he gets is lower than five years ago then he has to look for another job whose salary can meet current needs, but I guess that what is meant by lower than five years ago is the value, not the amount, and that is the result of inflation so over time It will be increasingly difficult for people to meet their basic needs if their income is fixed or the increase is not commensurate with the increase in inflation.
Your colleague needs additional income and is starting to plan investments so that the increase in groceries doesn't make it difficult for him to keep buying them, and it cannot be denied that those who live in poor or developing countries have difficulty increasing their income because of limited job opportunities.

People in the third world or poor countries will feel this most clearly. Wages do not increase much while commodity prices increase day by day, making people's lives increasingly difficult. But one thing we need to realize is that the government won't be able to improve anything, they don't have any solutions for that so what we can do is adapt to them. By all means, we must find additional sources of income, otherwise we will be eliminated from this harsh society. Save yourself, don't rely on the government.

If a country's government and system of government is dictatorial or corrupt and not accountable, then that government cannot ensure development for the country and its people. But it is also an eternal truth that the awareness of the citizens of the country is very important for the ultimate and lasting development of any country. In other words if everyone has an additional source of income other than their main source of income then maybe the standard of living of everyone will improve and the economic status of the country will change significantly. But if the country's economic policies are not strictly implemented and controlled, then at the end of the day it will not bring benefits to the country and the people. Therefore in my opinion the country's government system and self-awareness are both very important for the development of the country's economic condition.

Of course, the government plays an important role in determining that country's economy, people cannot do anything else if the government still refuses to change policies to change the country's situation. But if we wait and believe in the government's false promises without saving ourselves first, I think we will be eliminated from this life before the government does what it promises. Without the government's help, we will face many difficulties, but that does not mean we should just sit and wait for the government to save us without doing anything. Try every possible way to save yourself first instead of sitting around and doing nothing.

That is why we should raise our productivity by inculcating economic values ​​along with self-awareness and by applying practical knowledge of financial management and accelerating the trade of essential goods and services. Since the global economy depends on the individual economy of each country, that is the development index of each country is determined depending on how much each country is contributing to the global economy, so each of us should work with awareness from our place as well as every government should support the efforts of the people in all these developmental works strengthening and extending cooperation.

[wxa7115]

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

Governments may not be all powerful, but at the same time we are talking about the place where we pay so much of our money. If they are capable of taking our taxes so much, I mean most governments literally get half of our income, then they should be able to help us during bad times as well, otherwise why are we even paying them?

I think we should be asking and demanding a lot more from governments and we are not really making it work and people who like to vote for certain people, end up not saying anything against people they vote for, which makes those people a lot more confident on taking our money and they just end up not making any improvements. We should reconsider that and start to just consider how we could make it work with a lot more demands from them in exchange for paying that much tax.

I get it but a great deal of that money you pay as taxes will never come back to you on the form of services or timely help, so if you are in a difficult situation and you receive the help of the government, that is great, but if not then you should have a plan to get out of any predicament on your own.

A difficult thing without a doubt but it must be done, and since this is a bitcoin forum, it should be obvious that part of my plan is to use bitcoin to deal with whatever adverse circumstances I may have to face due to a declining economy.

[blckhawk]

In my country the salary is not lower it is rising, but the price of goods is also rising 65 to 75% of its price five years ago. That is why even if the salary is rising the salary is still short to support the needs of the family almost every year the price of goods is rising but the salary is not so poor will become very poorest.

They don't want us to stop working so we can give them more profit, throw in as much bread as they can so we don't have to get angry that while we can survive with meager amount of money, that we won't turn against them and destroy everything that the capitalists have built for themselves. I don't know much about global economics but I don't think that we never have seen any really increase in the past 100 years, countries that are poor are still poor and exploited today.

[d-baet guns]

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.

This may be caused by inflation which causes the price of goods to rise, while wages do not experience a commensurate increase which results in the price of goods continuing to rise. A decrease in purchasing power for goods can be a problem for some people because it can reduce their ability to meet their daily needs.
In this case, various countries have experienced very significant inflation which has caused the public economy to be unstable, the government should be able to overcome this, so that significant inflation does not occur which creates many problems for some people.

[|MINER|]

Wages are not going down. In fact, there has been inflation around the world. It has taken a terrible form.  Along with this, the increase in the price of goods has made public life more dangerous. People with low income are not able to adjust the expenditure with the income. Which makes their life low. For example Those who used to spend monthly with 500$ are now not able to get through the month on this budget.  The problem is seen in almost every country in the world

[dothebeats]

Wages are not going down. In fact, there has been inflation around the world. It has taken a terrible form.  Along with this, the increase in the price of goods has made public life more dangerous. People with low income are not able to adjust the expenditure with the income. Which makes their life low. For example Those who used to spend monthly with 500$ are now not able to get through the month on this budget.  The problem is seen in almost every country in the world

Wages haven't moved much since then. It cannot keep up with the prices of goods and no longer offer a liveable wage for a single person. This is why a lot of people are forced to look for second jobs or other things to make money on the side to supplement what they are receiving for their wages. Governments are obviously not helping the general public to improve their lives. They are just there to enforce laws for the benefit of a select few, and obviously not for the majority.

[leonair]

The economy of the world is going down and that's why I don't think anyone is happy or will be happy because the world economy is going down which means the economy of his own country is going down and as a result inflation will increase and also the price of daily necessities will increase as a result of living. The quality will be worse. Especially I think the third world countries will face this kind of problem more. And I think the main reason for the decline of the world's economy is that the big superpowers don't understand that they are causing more danger to the world by fighting wars for arms trade.

[Ever-young]

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.

That's the effect of inflation.
Inflation has proven to be a global pandemic that's been seriously feeding on the global economy for years now.
One of the effects of inflation is decline in purchasing power and that's what your friend is experiencing. And having a stagnant income in such an economic situation could also be very frustrating, especially when the cost of living is also drastically increasing.

Inflation has the ability to slowly reduce the value of money, making it pretty hard for people to be able to afford the same goods and services they've been able to afford few years back, so rather than depending on that source of income, one should always give room for adaptation and growth, sort for other means to update your income to fit the new standards of living.

[tygeade]

Governments are powerful but not all-powerful, whenever there is a disaster of some sort, people always think that the governments must do something, however the one that really has the most power over your life and current circumstances is yourself.

So if you find yourself in a difficult economic situation then you need to do what you can to get out of it on your own, since by the time you could receive the help of the government, it could be too late already, so there is no point waiting for a help that may come late or it may never come.

Governments may not be all powerful, but at the same time we are talking about the place where we pay so much of our money. If they are capable of taking our taxes so much, I mean most governments literally get half of our income, then they should be able to help us during bad times as well, otherwise why are we even paying them?

I think we should be asking and demanding a lot more from governments and we are not really making it work and people who like to vote for certain people, end up not saying anything against people they vote for, which makes those people a lot more confident on taking our money and they just end up not making any improvements. We should reconsider that and start to just consider how we could make it work with a lot more demands from them in exchange for paying that much tax.

That is basically the eternal question, but the response is a simple "then elect people who would take taxes from you and use it so well that your nation will become better", and yet we fail to elect people like that, instead we elect people who are against the people we hate, that's all we look at.

There are type of people we "hate" and whoever hates those people together with us, we elect those people and we look basically at nothing else about them, they could be crooked thief politicians who would spend our taxes to enrich their friends, but if they hate the same group of people that we hate then we are going to turn a blind eye to everything they do. Which is why I believe that we are not going to end up with anything crazy in the future, things will stay the same way for a long time.

[barisbilgili]

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.

That's the effect of inflation.
Inflation has proven to be a global pandemic that's been seriously feeding on the global economy for years now.
One of the effects of inflation is decline in purchasing power and that's what your friend is experiencing. And having a stagnant income in such an economic situation could also be very frustrating, especially when the cost of living is also drastically increasing.

Inflation has the ability to slowly reduce the value of money, making it pretty hard for people to be able to afford the same goods and services they've been able to afford few years back, so rather than depending on that source of income, one should always give room for adaptation and growth, sort for other means to update your income to fit the new standards of living.

Currently, in almost all countries, prices of goods are increasing but income/salaries are still the same or even decreasing, making it very difficult to meet living costs.
The impact of inflation is very large, but whether we want it or not, we have to be able to get out of this situation in order to meet living costs, so the only way is to be able to adapt and get out of this zone by looking for a much bigger income.

[bitgolden]

Having bad results give or take during this period is not really that shocking, world is coming out of a pandemic period, recovering from that can't be too quick. Everyone assumes that just because it got "little" bit better, they assume that it could be much better, but what we do not realize that is that for a whole year it was just locked business who didn't do well, and for two years it was not financially good, which means that we have a lot of time to recover and a lot of stuff to handle before we are back to where we were.

I think people are reacting to all of this like they think we could do fine right away, that is not possible and should be considering how we could do better later on. Just assume that it will take some time.

[wxa7115]

Having bad results give or take during this period is not really that shocking, world is coming out of a pandemic period, recovering from that can't be too quick. Everyone assumes that just because it got "little" bit better, they assume that it could be much better, but what we do not realize that is that for a whole year it was just locked business who didn't do well, and for two years it was not financially good, which means that we have a lot of time to recover and a lot of stuff to handle before we are back to where we were.

I think people are reacting to all of this like they think we could do fine right away, that is not possible and should be considering how we could do better later on. Just assume that it will take some time.

Assuming there is enough time for all of those businesses and people to recover, after all even if the pandemic has officially ended, it did not took long for two wars to start, and those conflicts created once again uncertainty on the markets and affected the lives of many people as well.

So not only the world economy has not recovered, it is even possible it could get worse, and if that were to happen, I do not know how long people could endure their difficult situation.

[DeathAngel]

The global economy is currently facing challenges & uncertainties which have led to a slowdown in growth rates. The situation differs across countries & sectors. Trade tensions, geopolitical issues & the COVID-19 pandemic have contributed to economic fluctuations. While some countries may be experiencing a decline others may be showing signs of recovery. The global economy is facing headwinds but the extent of decline varies & is subject to ongoing developments & policy responses.

[boty]

Wages are not going down. In fact, there has been inflation around the world. It has taken a terrible form.  Along with this, the increase in the price of goods has made public life more dangerous. People with low income are not able to adjust the expenditure with the income. Which makes their life low. For example Those who used to spend monthly with 500$ are now not able to get through the month on this budget.  The problem is seen in almost every country in the world

Wages haven't moved much since then. It cannot keep up with the prices of goods and no longer offer a liveable wage for a single person. This is why a lot of people are forced to look for second jobs or other things to make money on the side to supplement what they are receiving for their wages. Governments are obviously not helping the general public to improve their lives. They are just there to enforce laws for the benefit of a select few, and obviously not for the majority.

If the government cannot pay workers a decent wage, of course this requires them to look for side jobs that can give them additional income to meet their needs because if they only rely on the income they get from a job, of course they won't be able to. enough for their needs and if the government doesn't care about this of course the people will continue to experience difficulties in living their lives and for the government which only thinks about their own group of course they will not think of the right solution for their society, but if the government can provide a solution The right thing is of course that their community can meet their needs with the income they have.

[moneystery]

Wages are not going down. In fact, there has been inflation around the world. It has taken a terrible form.  Along with this, the increase in the price of goods has made public life more dangerous. People with low income are not able to adjust the expenditure with the income. Which makes their life low. For example Those who used to spend monthly with 500$ are now not able to get through the month on this budget.  The problem is seen in almost every country in the world

i can say that this is true. in the past, 200 usd a month was enough for me, where i could buy bread, meat, milk, etc., but now with 300 usd it is quite difficult for me to manage it for my various needs, and this is getting worse with increasing costs. electricity and internet bills at my house.

inflation is really worrying now, but the government seems to be still very busy with their political agenda, so they ignore this serious problem. i don't know how long this condition will last, but hopefully my income can increase in the future, so that my life will not be too difficult.

[TEBTC]

The truth of the matter is that the economies all over the world 🌍 are experiencing decline or problem this is due to the rise in population as we have scar's resources with too many people relying on it
And again government need to come up with new strategies to solve the economic problems of the world because every year inflation is always on the rise but the salary structure is still the same