Is the 2023 Recession Cancelled?
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Title: The 2023 Recession Is Cancelled: Signs of Economic Resilience
Introduction
As the year 2023 rolls in, anticipation and apprehension loom over the global economy. Speculations about an impending recession have dominated conversations among economists, analysts, and everyday individuals alike. However, recent developments and insights suggest that the predicted recession might not materialize as previously feared. Several factors have emerged, pointing towards economic resilience and optimism for the coming year.
1. Robust Recovery: A Strong Rebound from COVID-19
The COVID-19 pandemic wreaked havoc on the global economy, leading to widespread concerns of a prolonged recession. However, significant progress has been made in combatting the virus, with vaccination efforts gaining momentum. Countries worldwide are gradually reopening, which has resulted in a strong rebound across various industries. As consumer confidence increases and business operations normalize, there is a growing consensus that the worst impacts of the pandemic may already be behind us.
2. Strengthening Job Market
A key indicator of economic health is the state of the job market. Despite initial forecasts of prolonged unemployment, many countries have witnessed a rapid recovery in employment rates. Governments have implemented supportive policies, such as stimulus packages and incentives for businesses, leading to increased hiring activities. As job opportunities expand and income levels improve, consumer spending is likely to receive a significant boost, contributing to overall economic growth.
3. Investments in Infrastructure
Governments around the world have recognized the importance of infrastructure investments in stimulating economic development. In an effort to create jobs and bolster growth, large-scale infrastructure projects are being planned and executed. Such initiatives inject capital into the economy, promoting the creation of new businesses, increased demand for raw materials, and job creation. The resultant multiplier effect helps to maintain stability and ward off the risks of recession.
4. Technological Advancements and Digital Transformation
The ongoing digital revolution has proven to be a catalyst for economic growth. The pandemic has accelerated the adoption of technologies, particularly in sectors such as e-commerce, remote work, and online services. This digital transformation has led to increased productivity, reduced costs, and enhanced efficiency for businesses. By leveraging these advancements, economies are better positioned to adapt and remain resilient in the face of external shocks.
5. Strong Financial Sector and Policy Support
Following the 2008 global financial crisis, regulatory frameworks and risk management practices were fortified, ensuring a more stable financial system. Central banks and governments now possess a broader range of tools to manage economic downturns effectively. Additionally, supportive monetary and fiscal policies remain in place, providing a safety net and preventing any significant shocks from derailing the economy.
Conclusion
While the prediction of a recession in 2023 seemed inevitable, recent indicators suggest a more optimistic outlook for the global economy. The robust recovery from the COVID-19 pandemic, strengthening job market, investments in infrastructure, technological advancements, and strong financial sector all contribute to this promising scenario. However, it is important to remain cautious, as numerous unpredictable factors can still influence the future trajectory. The lessons learned from previous crises have helped shape the strategies employed today, ensuring that economies are better prepared to weather potential storms. As we move forward, let us remain vigilant, adaptive, and hopeful for sustained growth and prosperity in the coming years.
My bank account is cancelled either way.
When there is inflation rich are getting rich. This system is dumb. It’s built so that interests rates go up to help banks
They could control this. It’s ridiculous man
People need to teach themselves, Pay cash, if you can't you don't need it.
Work on that for a year and you would do as I have, cant believe all the money I wasted over the years on this system of things.
No recession
Unfortunately this disgusting debt based system will only allow one result. Recession is a hope and a prayer because we started a recession last quarter its just hidden in fluffed up data. We will be lucky if we don’t have the worst depression in US history by Q3 2024. They are talking about consumer spending and saving and home equity lines. A credit crunch has already started, saving are fleeing banks increasing lending restrictions. Home prices have begun to reverse any one who took out a home equity line will be completely upside down on their mortgages by Q1 2024. Residential defaults will begin to crash the markets and by Q3 2024 we will be laughing at how soft of a landing 2008 was.
It looks like a great time to invest in staple companies. 😀
America is becoming a debt trap where very few people have breathing room financially speaking.
All money is fake if it’s not back by Gold or Silver so mmm idk feelin Brics more than this whack corporation
The recession has been cancelled for the investing class, but not the working class.
So is stock market going to crash??
Very talented you sir , not only for the topic but for the easy way to understand.
Why are you never mentioning the corporate price gouging. These companies are causing 40-50% of the increase in pricing. That's not an accident!
Investment in stocks is a great way to invest your money. The team is constantly checking the market for changes and make sure that you are always informed about the best time to invest. As a result, I have made more money than ever before, and I don't have to manage my portfolio on my own! Invest in stocks, it's worth it!
I have had a lot of bills lately put on no interest card will pay it off before time is up .
is the labor market high because more people are forced to take a second job to pay for the increased costs of goods and services?
Jesus.. the Feds really know how to fu*k things up..
I’ve never heard someone talk about the economy so soundly
i give this a like because of that card trick
Well everyone and myself in my shift at work are being laid off. They atleast gave us a 2 week notice, so it feels like a coming recession to us.
People act like the stimulus actually helped us. What they give us a couple grand over a couple of years? Literally nothing
America is presently besieged by the hydra-headed evil combo of inflation and recession. The worst aspect about this crisis is that consumers are piling up credit card debt. Credit card debt increased by 20% in April alone, while interest rates have doubled in a year. Inflation is so severe that customers are essentially going into debt to buy basic essentials. The collapse has certainly begun.
Thank you for explaining bank-to-bank rate vs bank-to-consumer rate!!
There will be no recession
If it happens it will be mild
Great video as usual. What’s the best way to protect yourself against a recession? Thanks
Im definitely feeling the effects of the recession, idk if it’s exactly canceled
Yes, but no. It's not that easy… 100% it's crashing later this year?
I work as a cashier at a discount department store. I ring up $150 -$250 in purchases, to which the customer used their credit card. When the card is rejected, they pull out cash, and pay part of the bill with what cash they have, and use their debit card for the balance. Two days later they are back returning the bulk of their items because now they realize they can't pay for essentials they need. Its a vicious cycle played out dozens of times a day. Eventually these people's finances are going to crash and THAT is when the recession becomes real. These people need to realize they must to stop buying things they don't absolutely need.