Quote from: Sanitough on Today at 08:41:10 PM

Quote from: xSkylarx on October 22, 2022, 08:15:29 AM

Quote from: Davidvictorson on October 20, 2022, 01:46:22 AM

Please share your personal experiences on how people in your country are preparing for or dealing with a recession.

With the continuous weakening of our local currency and continuous climbing of inflation rate, people here don't care anymore if a recession will happen. I live in a 3rd world country so most of the people here just go with the flow on their daily living. Minimum wage is not enough to sustain oneself since prices of basic commodities have shoot up to the point that whatever saving techniques you do, it is not enough. Only the people that belongs to middle-class and above are able to prepare if a recession is bound to happen soon.

Well, with poor people they are always facing a recession even before so this is certainly not new to them. In fact, it becomes harder for them to survive these days seeing the never ending price inflation. However, for middle class and rich people in society, most likely they focus more on investments right now and limits their spend in fiat because that will enable for them to see growth and development in their investments. Otherwise, they will end up suffering too from this endless inflation effects.

The sad reality is that those poor would get poorer, even they do have those kind of investment plans or something that would really enhanced their way of living but since they do have money to start on then they woul really be ending up on being poor in the end due to lack of capacity which is really a sad thing but there are people who do really strive on achieving goals despite of their condition.There are really just things which cant really be done if you dont have the money to move out.Its true that middle class or rich class would really be thinking on having businesses or diversifying their funds
for having that probability on creating more income but of course it would be accompanying such risk.