RE: The Recession Events (What will Happen During this Recession)
Dear @gbenga
Interesting choice of topic. Very HOT and kind of depressing.
This period like every other isn’t different because it is a recession period just like every other recession
I actually do not agree with this statement. We've witnesses few different crashes and recessions within past 100 years. But we didn't witness anything similar to current situation. Ever.
At the same time: financial system is crashing, supply chain is down, manufacturring down, customer confidence is crashing. Unemployment never in past 100 years was as bad as it is now, just weeks since virus start spreading. And on top of all that: we need to handle this virus.
In my humble opinion, current crash will be greately bigger than this one from 2008/2009.
Government bailing out the Rich and Businesses
Goverments are mostly trying to bail out those businesses, which needs it. Those who are hiring many people are priority. However many of those businesses and rich people are abusing current "rescue plans" :/ Quite a shit move, but what to do.
Reality is, that majority of goverments do not seem to know what to do. They are bailing out whoever they can, printing money like there is no tomorrow. Soon we will all have to deal with enormous lose of value by all major FIAT currencies. Wouldn't you agree?
Enjoy your day, upvoted already.
Yours, Piotr
Thanks for reading my friend,
Okay!! Maybe this is worse as everything is on a standstill compared to other recessions.
The government is going to bailout a lot of companies in so many industries but this bailout might cause a very high inflation rate in the country.
Very true. I expect many investors running away with their wealth from FIAT currencies to gold,silver and crypto.