The Global Recession has been a topic that’s been around for a few years now. Everyone was “predicting” that next year would be the year that we would have a global market meltdown and that we should prepare for it.
If you are always saying something is going to happen, eventually you will get it right, and then you can pull the “See? I told you so!” card.
But I get it… Titles and content should be captivating to generate clicks and drive traffic. The better title wins the click. The problem is when the title is captivating and the content is pure garbage, not explaining why a recession would occur or how people should prepare for it. This takes away all the credibility.
And so, last year there were again, hundreds of posts talking about the 2020 recession, and this time they got it right… Or did they?
Early December 2019 the COVID-19 was reported on the city of Wuhan and it spread like wildfire. It has reached every continent (maybe except Antarctica) and is now considered a Pandemic disease and it should not be taken lightly.
People are being warned to stay at home in quarantine, markets are closing, schools are closing, and every event is being canceled. This has made a huge impact on the global markets and it’s much worse than what anyone could have predicted.
On February the S&P500 was trading at $3,337.75 and now (March 14) is at $2,711.02.
As for the cryptocurrencies, this could be even worse, as it is the first major global crisis it is facing and no one knows how the market will respond to it. Bitcoin was trading at $9,457.45 and it is currently evaluated at $4,894.10.
I think this crisis is much worse than a “normal” financial crisis because people are not only afraid of losing their money, their jobs or houses, they are also afraid to lose their lives.
No one knows when this pandemic disease is going to end and what scars will it leave, but it is in times of crisis that we must stay calm and do our best not to aggravate the situation and not believe misinformation.
If you have some extra cash and want to invest, it could be the right time to use it, but now more than ever, be careful on what you invest and never invest what you cannot afford to lose.
Be fearful when others are greedy and greedy when others are fearful.Warren Buffet
I hope that everyone stays calm and safe, if there anything else you would like to add let me know in the comments.
If you are interested in knowing more about how to prepare for a recession (although we are already living it) check out this post from Jeff Rose. I’ve been following Jeff for quite a while and he is one of the few with actual solid good advices.
If you want to start an online business check out this post:
Online Businesses to start from scratch