Post
Topic
Board Economics
Merits 2 from 1 user
Re: Can One Get Rich or At least Not go Broke During a Recession?
by
BRINIRHA
on 12/11/2022, 10:40:49 UTC
⭐ Merited by fillippone (2)
Recession is coming and we know it. In some places it is staring us right in the face. Unemployment, rising cost of living, increasing food prices, falling stocks etc are some of the negative effects associated with recession. Despite this seemingly bad news, Warren Buffet said “In short, bad news is an investor’s best friend”. And another quote by someone goes thus "millionaires are made during a recession". I have been recently laid-off work due to the recent economic crisis in my country. I do not want to see this as a bad thing. So I ask what hidden opportunities does this recession offer? How can one take opportunity of the recession to become rich or at least not go broke?

I think that the Recession is like hunting/shopping season for the elite (people with lots of money). they will compete in the hunt to buy every thing that has good potential in the future. like hunting for property that will fall in price during a recession. because there will be many people who sell property but there will be few enthusiasts. so prices will continue to decline due to lack of interest. well that's where the elite people will enter to buy from the lowest price. Now, it's not just property that will experience a price drop. but the stocks will be the same i.e. the price will fall very badly. but here is the opportunity. our task as ordinary people should be able to see the movements of the global elite and predict their movements and also study them. not that we have to buy what they buy. because our abilities may not be able to match them. but at least we learn from them, that is, we must be able to see hidden potentials and see opportunities for the future. well there is no doubt that new rich people will be created and they are the ones who are good at seeing a hidden pearl. and they invest in it. and yes the answer is investment.

but unfortunately for the lower classes will be very difficult during a recession. perhaps the lower classes will also be able to see the potential for the future in a hidden pearl. but they are forced to prioritize their daily needs. so actually a recession will actually widen the gap between the rich and the poor. I hope the economy recovers quickly.