Contest - My Thoughts On The Global Recession | It Is Coming

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First of all, what is a recession? The easiest definition is that a country falls into recession when it has negative Gross Domestic Product growth for two consecutive quarters. Of course going into this it means many things, the buying power of people is diminished production in the country falls, unemployment grows, the most dangerous part to me is that people fall into a state of despair, there is hopelessness and even a rise in suicides. We also see government financial entities running to create economic factors that will inhibit this fall in economic output. Like nearly always these programs fail.

I live in Honduras, we have been having economic growth for years until we are hit by a natural disaster, the GDP falls but the economic signals grow the following year because the economy was hit so hard by the disaster, so technically we never have two quarters of negative growth. Of course starting from rock bottom growing is easy. Yet we can see the effects of a recession in the simple fact that tens of thousands of people go in caravans to try to enter the USA and find work, most of them try to pass as political asylum seekers, the truth is they are economic migrants. As far as I can see the employment situation in the country has gotten a lot worse since last year.

But to be honest, it is not our government's fault, as bad as it is, at the moment we are facing a World wide crisis, we have environmental problems, fuel prices at moments going to crazy heights, more than a few wars being fought, and at least the war in Ukraine has a direct effect on the availability of food worldwide. I go every week to the supermarket and every week at least ten percent of the products available have had an increase in price. This makes it that much harder to make it through the month as most people here are tied to a stable salary so every week our buying power is diminished.

This will have a hard impact on the job market as people having less purchasing power producers will be forced to lay off people because they are not selling as much, this means even less money available and less products bought, this is a crazy circle of poverty. In my country I would say half of the population relies on informal work to live, you know like shoe shiners, newspaper vendors, salesmen of anything, these guys are seeing their already meager incomes become less. So this adds another problem, if you don't make enough to feed yourself and your family you probably resort to even criminal activities, so security forces have to be reinforced reducing the already dwindling government funds.

A recession is terrible and at this moment I think it is inevitable that we will be seeing a world wide one. Yes, we could start of by negotiating treaties to stop all wars, this would at least reduce fears of hunger and fuel shortages, I guess governments have to cut costs to the minimum, in my country I have always wondered why we have an army, that would save a lot of money, yes soldiers would find themselves unemployed temporarily, but the money saved could be used to directly create jobs in the most essential industry, food production, and this requires lots of people.

What skills will be required? Well we are in a technological age so I think basic knowledge of technology will be essential, but we will also need basic skills, like agricultural workers, fishermen, drivers, even street vendors who for some reason sell cheaper than stores, probably because of no overhead.

It seems recessions hit a few countries every few years, this time I think it will be nearly Worldwide. What can you learn from past recessions? Well practically all recessions have been badly managed so I think doing exactly the reverse of what has been done before could be a starting place to try to make this difficult situation shorter. A recession is one of those times where hard work does not solve things, you need smart work, finding that smart is the difficult part.

As for me, what am I doing to try to get through this probably coming recession without so many problems? Alas I am doing nothing, apart from writing on Crypto Social Media, here we have an unknown, will crypto survive this recession in good shape or will it nose dive? Strong Crypto prices could mean personal well being for many, that is why I am writing at least twice as much as usual. I Am 61 and the job market for me is out, in this country after 40 in the job market you are already old, so for me Crypto it is.

I invite @cryptopie, @petface, @romanie