People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
I think that in several countries a recession is currently occurring. And several other countries are also struggling to avoid recession. But I think after the inflation that occurred in previous years it will be quite difficult to avoid a recession in the end. We personally just have to be prepared for all the possibilities that could happen. So I have been preparing myself since the previous years. Because I saw that the potential for a recession was very large after hearing that the Central Bank had increased interest rates in previous years. Since then I started preparing myself. But now several countries are starting to recover economically. But the majority are still in a situation that is quite difficult. Because it seems like most people are trapped in a recession at the moment. But it seems that quite a lot of Asian countries can avoid the current recession.
The economic situation of each country is different, some countries have been confirmed to be in recession since last year, but some are not yet. Most major economies such as the US or China have almost escaped recession and their economies are gradually entering the recovery phase. That is shown by the fact that the Fed is planning to start lowering interest rates this year.
Personally, I don't think there will be a large-scale recession. Although corporations continuously announce layoffs, if you pay attention, most companies report quite good revenue and profits. All stocks are growing very well, how can you say they are facing difficulties?