Is the current economic situation really that bad?

[N.O]

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

All these problems have affected the whole world economically, especially Asian countries have been affected to a greater extent. If I talk about my country, it has suffered many times more than what my country suffered due to covid-19 and other problems due to last week's quota reform movement in government jobs.  Many important public and private buildings of the country have been burnt and billions of dollars have been lost due to the complete disconnection of the internet for 1 week across the country which has affected the country's economy.

In most of countries, situation is also critical. There are no jobs for an educated person and poor people are becoming more poorer and rich people are becoming more richer because Government is providing allowance to the business people and government said that they will not give seat to anybody in education department and WAPDA and many more departments and due to which rich people are going to abroad and they earn Millions of dollars and poor people cannot go to abroad and they are earning only few rupees and from which they spent them on basic needs and they have nothing to save.

[Bright0515]

Actually I don't know where you are writing from, but before you decided to write this down it simply means the economy situation of your country is not working as expected. Yeah honestly right now the whole world are experiencing bear run in market in one area or the other no one can boldly come out to say that their country is 100% ok. What everyone should be thinking of right now is how to cope with whatever situation the economy would be.

Most people today find it very hard to cope with the economy situation because they are always believing that tomorrow will be better that today instead of making it  yourself. So what if tomorrow get worse? That's the problem let everyone prepare for the next situation and not only focus on the present if not most people will be left behind.

[Distinctin]

The current economy situation is extremely bad, due to the economy we are living in now, I don't think that they will be getting the actual inflation rate, because inflation has become a daily basis now in some country, especially Nigeria, since the COVID 19  pandemic things has been getting out of hand, and we have been thinking that maybe it was because of the situation we were back then, but even after the pandemic things was getting worse and till date is still worsened day by day, a lot of people are dieing due to hunger.

That is very sad when you say that there are many people dying of hunger at this time in Nigeria, because in some other countries after experiencing the impact of the COVID-19 pandemic they were still able to recover by improving their own economic sectors even though the changes themselves were not immediate and significant. But at least no one is dying of hunger due to worse conditions like what you said, especially for countries that are not experiencing war or anything like that at this time so that is really very sad.

When you say some people are already dying of hunger, then what's the immediate action of the government? I know Nigeria is quite overpopulated and has the fastest growing population compared to other countries but I don't think that's a valid reason to see them starving to death. Most likely, the government is not well managed and they chose wrong persons to become their heads.

[Hanadawa]

When you say some people are already dying of hunger, then what's the immediate action of the government? I know Nigeria is quite overpopulated and has the fastest growing population compared to other countries but I don't think that's a valid reason to see them starving to death. Most likely, the government is not well managed and they chose wrong persons to become their heads.

Corrupt government and bad political situation will make a country to be destroyed in the global economic condition like this. I am very sad and angry when there are people dying of hunger while the government officials can enjoy themselves with the luxurious facilities provided by the state. They use tax money for their personal and family interests. I strongly condemn what the Nigerian government did by letting its citizens die of hunger. My country is also in bad condition because of corruption but no one is dying of hunger.

[Fara Chan]

Corrupt government and bad political situation will make a country to be destroyed in the global economic condition like this. I am very sad and angry when there are people dying of hunger while the government officials can enjoy themselves with the luxurious facilities provided by the state. They use tax money for their personal and family interests. I strongly condemn what the Nigerian government did by letting its citizens die of hunger. My country is also in bad condition because of corruption but no one is dying of hunger.

Citizens who died of starvation are indeed very unfortunate because their rights were not fulfilled by their own government, even though citizens are the main part that must be protected by every government so that there is no need for corruption in the country that can cause bad things to happen like that. And if you are an Indonesian citizen, of course I can understand what you are saying because we are in the same country with conditions that are not much different at this time, but the thing that I can still be grateful for at this time is that none of our citizens died of starvation unless they were already dead.

[Rabata]

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

Global economic conditions have deteriorated significantly over the past few years and continue to do so. There are very few countries where this situation is stable. In some countries, the cost of living has increased significantly due to a significant increase in the natural inflation rate. And its effect is bringing destructive situation in public life. Inflation on the one hand and lack of employment on the other have reached intolerable levels in some countries. If the world leaders forget their differences and do not simultaneously play a role in controlling this situation, restless that has been created in the entire world will never stop. Pandemic and war is now a deadly threat to the whole world.

[AirtelBuzz]

When you say some people are already dying of hunger, then what's the immediate action of the government? I know Nigeria is quite overpopulated and has the fastest growing population compared to other countries but I don't think that's a valid reason to see them starving to death. Most likely, the government is not well managed and they chose wrong persons to become their heads.

Corrupt government and bad political situation will make a country to be destroyed in the global economic condition like this. I am very sad and angry when there are people dying of hunger while the government officials can enjoy themselves with the luxurious facilities provided by the state. They use tax money for their personal and family interests. I strongly condemn what the Nigerian government did by letting its citizens die of hunger. My country is also in bad condition because of corruption but no one is dying of hunger.

Economic infrastructure is deteriorating in most countries of the world. The citizens of the country suffer the most through dictatorships and corrupt governments. However, this problem seems to be more prevalent in South Asian countries at present. If I mention our country, you will see that for the last few days, students have been agitating for quota reforms, while the government of this country has completely shut down the internet for seven consecutive days. As a result of which the economic condition of this country has worsened even though the economic condition of this country is not very prosperous.

In our Country, as inflation is increasing day by day, the employment system of people is decreasing day by day. As a result, there is always scarcity among people, which has made people's lives miserable.

[DeathAngel]

Seems things have taken a turn for the worst following the figures released yesterday regarding unemployment. The figures suggest we are in or very soon will be, in a recession. Usually money printing will begin in this scenario to prop up the economy. Make sure you sell some stocks/crypto in the next year because things could get gery messy.

[N.O]

The current economy situation is extremely bad, due to the economy we are living in now, I don't think that they will be getting the actual inflation rate, because inflation has become a daily basis now in some country, especially Nigeria, since the COVID 19  pandemic things has been getting out of hand, and we have been thinking that maybe it was because of the situation we were back then, but even after the pandemic things was getting worse and till date is still worsened day by day, a lot of people are dieing due to hunger.

That is very sad when you say that there are many people dying of hunger at this time in Nigeria, because in some other countries after experiencing the impact of the COVID-19 pandemic they were still able to recover by improving their own economic sectors even though the changes themselves were not immediate and significant. But at least no one is dying of hunger due to worse conditions like what you said, especially for countries that are not experiencing war or anything like that at this time so that is really very sad.

When you say some people are already dying of hunger, then what's the immediate action of the government? I know Nigeria is quite overpopulated and has the fastest growing population compared to other countries but I don't think that's a valid reason to see them starving to death. Most likely, the government is not well managed and they chose wrong persons to become their heads.

In any country, hunger could not be dominant if Government is progressing and they are utilizing the funds for the relief of public. But if government is withdrawing the funds from public money then there will be hunger and there is no solution of that. Election should be again and public should choose best leader for the country and they should come on the road for the election. Democracy is good and also bad and it has two sides. If leader will work on the projects and he will give relief to the poor people then there will be calm in the country and country will progress and from countries people will come in that country in search of work and job.

[AYOBA]

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation.

This world now is facing a lot of financial problems and is not that there money in this world, but this inflation has make everything become so hard and the government is aware of all this but he over look I don’t know how he wants make people survive the cause of living wanted to kill the living. Mate this is not only your own personal observation this issues is for everybody so many of peoples are felling the pain.

Moreover, and that’s why I didn’t blame those that are leading this protest, because if they didn’t do something like government will not take any action against us, so I also support the motions of this protest is good for us to fight for our own rights.

[doomloop]

Seems things have taken a turn for the worst following the figures released yesterday regarding unemployment. The figures suggest we are in or very soon will be, in a recession. Usually money printing will begin in this scenario to prop up the economy. Make sure you sell some stocks/crypto in the next year because things could get gery messy.

People tend to convert their fiat and deflationary assets to crypto and other inflationary assets so that they can be saved from economic crises and problems caused by such things, so I don't think selling earlier will give them any benefit because the fiat they will get after selling at the moment will lose purchasing power later on if things take a turn.

I would rather keep my funds in cryptocurrencies or gold or any other asset that I know wouldn't lose value if things go bad so that I can sell them later when there is high inflation so that I get more value for my assets and the purchasing power can be intact.

Selling early and regretting later is not a good choice, one needs to think twice or more before they make such decisions.

[Abiky]

Seems things have taken a turn for the worst following the figures released yesterday regarding unemployment. The figures suggest we are in or very soon will be, in a recession. Usually money printing will begin in this scenario to prop up the economy. Make sure you sell some stocks/crypto in the next year because things could get gery messy.

And the stock market crash of the past few days, tells us how bad the economy is right now. Can you imagine what will happen once central banks turn on the "money printer"? Inflation will rise to levels never seen before. Out of desperation to "boost the economy", central banks will further exacerbate the crisis.

I don't think we're heading towards a "soft landing". It's going to be all of the contrary. In the US, the FED will have its next meeting by September. Not sure whenever the central bank will decide to cut rates or raise them a little more to help keep inflation under control. The first option is most likely giving the recent turn of events. Prepare yourself for a bumpy ride. The question is: Are people accumulating enough BTC and Gold before this happens?

[MissNonFall9]

It goes without saying that the economic stress that the entire world is going through at the present time is understandable when it comes to meeting the cost of living. If you go to the market today and pay the market price it is seen that you have to pay about 2/3 times the price of the previous price. However this inflation difference may be slightly higher depending on the country. But be that as it may the current economic situation is a worrying situation for all kind of people. So we have to be aware of our position.

[fuguebtc]

Actually, to evaluate whether the economic situation is stable or not, I think it depends on each person. In general, the general situation is that our world is increasingly unstable, not only geopolitical instability, but climate change instability and global warming are also directly affecting the economy, affecting our daily lives. And I believe that life will get more and more difficult instead of thinking that everything will soon return to normal as before.

For people with good jobs and high incomes, they will not feel insecure about today's economic situation even if commodity prices increase. But for people with low income or unemployment, they will clearly feel that the economy seems to be suffocating them, making it difficult to breathe.

[CageMabok]

When you say some people are already dying of hunger, then what's the immediate action of the government? I know Nigeria is quite overpopulated and has the fastest growing population compared to other countries but I don't think that's a valid reason to see them starving to death. Most likely, the government is not well managed and they chose wrong persons to become their heads.

What you said is also very possible if we look at the consequences that have happened to the citizens who have starved to death. So we can imagine that the government of the country really does not care about its own citizens to the point that someone causes such deaths even though their own country is not at war for a territory. I feel very sad when someone dies of starvation like that in a country while other citizens can still eat and feel a better life in their own country.

[Akbarkoe]

Actually, to evaluate whether the economic situation is stable or not, I think it depends on each person. In general, the general situation is that our world is increasingly unstable, not only geopolitical instability, but climate change instability and global warming are also directly affecting the economy, affecting our daily lives. And I believe that life will get more and more difficult instead of thinking that everything will soon return to normal as before.

For people with good jobs and high incomes, they will not feel insecure about today's economic situation even if commodity prices increase. But for people with low income or unemployment, they will clearly feel that the economy seems to be suffocating them, making it difficult to breathe.

I think this will also be felt by people with high incomes, especially those who always budget their money for their own needs, of course it will be felt, some people who have a middle to upper economy always use a monthly budget for their lives for the next month will definitely be felt by them, unless they do not use it to stabilize their finances.

For me, being in the lower class, it is much more pronounced, because basic commodities have gone up, so in this situation it is very difficult to be able to save and so on, even though I have a decent salary, but at the end of the month I can't save like in previous years.

[CryptopreneurBrainboss]

Seems things have taken a turn for the worst following the figures released yesterday regarding unemployment. The figures suggest we are in or very soon will be, in a recession. Usually money printing will begin in this scenario to prop up the economy. Make sure you sell some stocks/crypto in the next year because things could get gery messy.

Everything is just lining up perfectly, after next year we should be getting the bear market and we should have already sold some crypto to fiats to use during the bear market to help us to hold the remaining crypto we have for long term investment. Next year is also going to be the peak of the market (if we're looking at the market history) and the best time to convert some crypto to fiats. The annoying thing about this whole situation is that, the economy isn't getting any better, things are going to become more costly and we won't be able to afford them. The world is due for some recession so we shouldn't be surprised if it happens sooner than expected.

I think this will also be felt by people with high incomes, especially those who always budget their money for their own needs, of course it will be felt, some people who have a middle to upper economy always use a monthly budget for their lives for the next month will definitely be felt by them, unless they do not use it to stabilize their finances.

No wealth class is free because everybody is going to feel the impact of the recession. The only difference is that some persons will be able to avoid the recession but they'll be spending more money than they would had and for those that didn't have a replacement, they'll become broke in no time. Nobody should say that they don't care because they have some money. Lets not forget that money gets devalued during this times

[Antotena]

It seems like the whole world is facing a financial crunch. Based on my personal observations, I think several factors contribute to this situation:

International Instability: Ongoing conflicts such as the Russia-Ukraine war and the prolonged tensions in the Israel-Palestine region.
Rising Interest Rates: The U.S. dollar entering a cycle of increased interest rates.
Post-Pandemic Aftermath: The lingering effects of the COVID-19 pandemic.

To be honest, the inflation in my country is not smiling at all to people and you know what happened when money is not valuable, too much money in circulation, too much corruption and yet no job employment, there is not good health facilities, there is high cost of living, services and goods are too high and the worst of it is that the minimum wage is too small to buy things or pay basic bills that a normal worker can afford. These are the current difficulties in my country.

Most of the things we are seeing now is global because covid 19 was global sickness but there are some things that are inherent to what has been happening in some countries. If I look at how the westerners complained about hardships in their country, I just smile because that's what some people wish to see in their own country but perhaps Krchoffs law is taking effect.

[fuguebtc]

Actually, to evaluate whether the economic situation is stable or not, I think it depends on each person. In general, the general situation is that our world is increasingly unstable, not only geopolitical instability, but climate change instability and global warming are also directly affecting the economy, affecting our daily lives. And I believe that life will get more and more difficult instead of thinking that everything will soon return to normal as before.

For people with good jobs and high incomes, they will not feel insecure about today's economic situation even if commodity prices increase. But for people with low income or unemployment, they will clearly feel that the economy seems to be suffocating them, making it difficult to breathe.

I think this will also be felt by people with high incomes, especially those who always budget their money for their own needs, of course it will be felt, some people who have a middle to upper economy always use a monthly budget for their lives for the next month will definitely be felt by them, unless they do not use it to stabilize their finances.

For me, being in the lower class, it is much more pronounced, because basic commodities have gone up, so in this situation it is very difficult to be able to save and so on, even though I have a decent salary, but at the end of the month I can't save like in previous years.

Anyone will feel the increase in the price of goods , but what I want to say is that people with high incomes do not feel insecure about those things, unlike people with middle and low incomes.
Like in my country , the government has just passed a bill to increase salaries for civil servants and public employees by up to 30% . That has helped many people feel that it is still not too suffocating compared to the increase in commodity prices these days . But on the other hand, farmers and workers , who have low incomes and do not enjoy the same benefits as state employees are struggling with soaring prices . 

[MinMan]

More companies are making their business work with less people, and that means there aren't enough jobs to go around, that's the issue. I mean we are talking about finite amount of resource, and we are asking to be infinitely available.

You can't have million new jobs every year in a country, so that means there are more people joining the work force every year, than the amount of jobs created that year, which means some has to be unemployed, there is no other way around it. I get that it may not feel like that sometimes, sometimes it feels like people are unemployed because there aren't good jobs or there aren't good candidates for jobs, but that's a smaller percentage of it, main issue is that there aren't that many jobs.

Yeah, like for example if a nation has 10 million unemployed people, usually they have like 800k vacant job offers, meaning some of those people could be maybe employed if they were good, but 9+ million would have stayed even if all those vacancies were filled.

We do need to figure out a way to put out more jobs in the world, but I do not have any clue how that would happen, so only reasonable approach would be to realize that we need a small UBI for everyone, would help every nation a lot.