Counting the Cost: Will a Worldwide Economic Downturn Occur in 2023?

by | May 23, 2023 | Recession News | 31 comments




If there is one word that has caught everyone’s attention in 2022, it is inflation.

It has been a major concern for millions of people around the world and will remain so in 2023.

All around the world, everyday goods and services are becoming more expensive. Rising costs are making life more difficult for many people, who are struggling to buy groceries, pay their bills and fill up their tanks at fuel stations.

Global inflation is forecast to decline from 2022’s staggering 8.8 percent to 6.5 percent in 2023, while the world’s output will slow to 2.7 percent in the new year.

Counting the Cost looks at what global economies can expect in 2023.

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There has been much talk in recent months about the possibility of a global recession looming in the year 2023. Such an event would have serious consequences for businesses and ordinary people around the world, leading to job losses, decreased spending, and rising levels of poverty. In this article, we will take a closer look at the factors that could contribute to a global recession, and explore what individuals and businesses can do to protect themselves.

One of the primary concerns is the ongoing COVID-19 pandemic, which has wreaked havoc on economies and societies around the world. Despite the roll-out of vaccines in many countries, the pandemic is far from over, and new variants continue to emerge. This has led some analysts to predict a slowdown in economic activity in the coming years, as people are forced to stay home and avoid travel and social gatherings.

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Another factor that could contribute to a global recession is the ongoing trade dispute between the United States and China. These two superpowers have been engaged in a tit-for-tat of tariffs and other measures, which has led to decreased trade and investment between the two countries. This could have serious consequences for businesses and industries that rely on global supply chains and markets.

At the same time, there are other factors that point to a more positive outlook for the global economy. For example, many governments have launched stimulus measures designed to keep their economies afloat during the pandemic. These measures have included direct payments to citizens, tax breaks for businesses, and increased spending on infrastructure projects. This injection of funds could help to offset any downturn in economic activity.

So what should individuals and businesses do to prepare for the possibility of a global recession in 2023? For individuals, it is important to save and invest wisely, build up an emergency fund, and avoid taking on excessive debt. For businesses, it is important to diversify their customer base and supply chains, and to invest in technology and innovation that can help them weather any economic storms.

In conclusion, while the possibility of a global recession in 2023 cannot be ruled out, it is important to remember that there are many factors at play. The best course of action is to remain vigilant and prepared for any eventuality, while continuing to invest in the future and look for opportunities to grow and innovate. By doing so, individuals and businesses can help to ensure their long-term survival and success, regardless of what the future may hold.

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31 Comments

  1. Stanley Zac

    It's always a pleasure to hear your considerate and reasoned critique. Whether the market is bullish or bearish, I don't care. Trading worked well for me because I was able to raise over 6 figures when I started with 4 figures in only a few months by putting Rodger Michael Karl's advice into practice. Instead of trying to time the market by getting in and out every couple of weeks, trade a little portion of your portfolio.

  2. Maria Okopenko

    With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $120,000 bond/stock portfolio

  3. Tosha McCarty

    If you don't find a means of multiplying money, you will wake up one day to realize that the money you thought you had, has finished. Investment is key. with the help of a professional broker Mrs Tiessen michell i make a good profit

  4. Patricia Carlos

    Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.

  5. Steven Juan

    My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.

  6. Jane Daniel

    I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement.

    I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it,Investing is a long-term game, so I try to focus on the long term.

  7. Windarti Allison

    <<Don't take your eyes off the PRIZE ….. no matter what the distractions maybe be around you. UNDERSTAND YOUR PURPOSE, I went from living an average life to making over 63k per month. It's amazing. The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. The key is knowing where to focus. Well appreciated, Rodger Michael Karl.

  8. Oliver Adams

    I'm in complete awe at how I went from living an average life to making over 63k per month. It's amazing. The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. The key is knowing where to focus. Well appreciated,
    MARCIA ANN BICE .

  9. silent spectre

    Al Qaeda channel funded by china cannot help pimping for china pathetic feeble minded morons ROFL

  10. Salma Begum

    Priyanka husband wadra Danger injurious to health congress bjp trs

  11. Aden Mall

    With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio

  12. Dūm Dūm Brown

    Australia is ‘different’ — many Aussies think that the RBA’s job is to worry about greedy property investors or homeowners caught up in the houses & holes economy. The AUD was at 70 US cents at the end of January 2023 on the hope that China’s economy might pick up — energy costs are high, taxes are killing, food inflation is ridiculous, and mortgage repayments are a nightmare as Aussies get mired deeper an deeper in debt — however, the RBA will keep hiking interest rates because if it doesn’t then the Au$ will fall like a stone worsening core inflation… and remember — the AUD is a litmus test for the global economy i.e., if the global economy is good the AUD is strong, and otherwise the AUD will fall, as it is now. A falling AUD increases core inflation (grocery costs etc). While the RBA may not hike rates at the US Fed’s pace, it doesn’t really have a choice. Negative equity and a stagnant economy await Aussies in the next few years as fewer international students choose Australia, Europe declines, China’s working population declines and global coal, iron and tourism demand falls.

  13. ediddysmith2500

    Well with the world economic forum members leading the world to collapse the world economy to usher in authoritarianism and CBDC and digital ID,

  14. Magic readings Magic readings

    It’s getting worse! We lose chip oil and ⛽️! This problem not reversible! And new solution takes years!

  15. Tawidwid Kasit-an

    Economy collapsing not True, they( governments) will just print monies and Economies will Rise again, business as Usual..and Wars can Never Collapse Governments. .Revelation 16:18-20 is not about collapse of Economies…It is due to the Greatest EarthQuake, Governments(symbolize as mountains) & Cities of Nations will Collapse anytime..

  16. Alexander Webber

    Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

  17. M Z -another man

    I hope not to see a horrific recession this year as we saw in 2022

  18. Deborah Sharon

    I can unequivocally say that trading is one of
    the most profitable and lucrative business for
    every investors with the right expert

  19. Selena jack

    The maket trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investrs is at its lowest point. I read an article of people that grossed profts up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

  20. joesph cu

    My wife and I did very well in the amount of money that we amassed for retirement. Well over 80% of that money averaging about $2 million was made because of taking advantage of buying high-end stocks at a deep discount during the Great Recession. 2009 I fired the stockbroker got rid of all mutual funds and bought individual dividend stocks. Be patient don't get scared and do your homework and you can make a killing.

  21. Seventh child

    WE ARE ALREADY AT A PREDEPRESSION STATUS!…THIS IS GLOBAL!….GREED, CORRUPTION, MANIPULATION, LIES, MORE GREED!

  22. Juan Felipe

    Even with this current situation of the nations economy, the market has been pretty bad until today it decided to surge. Everybody was Practically Crying then. It kept dipping. That's what you get when you feel you can navigate the process on your own. Big thank to Hilder Ferguson. I'm not bothered with how bad the Market is because my assests are insured due to her advice and I still receive my profit

  23. Sarah Farooqi

    As an economy Neanderthal, this was a very well moderated panel with insightful guests.

  24. NHAN HA

    How is it able rebound. In the 2023.

  25. Mark Atkins

    The best way to cause a recession is to start talking about one.

  26. Afua Warner

    how does growth occur!? It is man's behaviour towards each other that causes instability and uncertainty. One group controlling all other misinformed, ignorant, uneducated groups to ensure the status quo of capitalistic greed remains intact, along with all the trimmings that goes with so called "Demoncracy" The poor remains poor due to the machinations and plots of the wealth grabbers by any means necessary.

  27. FRANCISCO FERNANDEZ RUA

    Both the US and China will fare better in 2023 than the GDP OF 2022. China will overcome the Covid easing results by June. The housing reform has been set in motion in helping the real estate industry to concentrate on living needs rather than speculation. Government will help industries to responsibly finish contracted buildings. The US restrictions on China have spurred investment in China to innovate. There was a reduction in the purchase of foreign chips and the development of indigenous photobits and other Chinese innovations. China will have some difficulty in the short run. The Chinese supply chain is strong and resilient. As time elapses it is possible that parallel supply chains will develop. China on energy has been a leader in renewable energy development while extending its gas purchases from Russia. New pipelines will be openned in 2023 as Russia fortifies its integration with China. Projected GDP is 4.7% increase. Year to year. This year will also bring an expansion of BRICS and SCO with a possibility of a Brics CENTRAL BANK CURRENCY that will begin to compete with the DOLLAR and THE SWIFT SYSTEM . The multipolar alternatives will conti9nue to make headway, as The Ukraine war reaches some degree of maturity and the world avoids a nuclear confrontation.

  28. Klimbo93

    The guest from Spain is one of the most talented divulgators I have ever heard, especially considering spanish averages.
    Such an amazing skill on English, information synthesis, straight to the point in perfect delivery format and gracious rethorics.
    Astonishing

  29. jhonson

    Given the high inflation, the use of coupons is more widespread than ever and many people rely on them not only for the purchase of food but also for clothing and much more. The transition to the 8112 digital coupon format is imminent.

    Qples by Fobi is the only platform able to provide physical / digital coupons anywhere in the world redeemable in real time! This is very valuable for the big CPG brands as they allow them to improve their Roi but above all customer loyalty, which has proven to change brands if the situation is advantageous.
    McDonalds, burger King and many other brands could use Qples by fobi coupons to increase customer loyalty, Roi and improve their margins. Given the high inflation that has led to the reduction in consumer purchasing power, CPGs are looking for new ways to attract customers. I think the arrival of digital coupons and the transition to 8112 has been accelerated by all of this. The decline in margins and profits that we are witnessing of many tech companies, once considered leaders, confirm the shift of the consumer in search of better opportunities and bargains offered by coupons.

  30. Daniel Jiminez

    Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?

  31. Rangsit Sutthakarn

    I hope as I moved in china company. It won't effect my economics and income

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