A decade after the global recession, the world’s economy is vulnerable again. Ryan Avent, our economics columnist, considers how the next recession might happen—and what governments can do about it
Click here to subscribe to The Economist on YouTube:
Daily Watch: mind-stretching short films throughout the working week.
For more from Economist Films visit:
Check out The Economist’s full video catalogue:
Like The Economist on Facebook:
Follow The Economist on Twitter:
Follow us on Instagram:
Follow us on Medium: …(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
The next global recession is not a matter of if, but rather a matter of when. Many financial experts predict that we are overdue for another economic downturn, and it is important to be prepared for this eventuality.
In order to prepare for the next global recession, there are several steps that individuals and businesses can take.
1. Reduce debt
One of the main factors that contributes to the severity of a recession is the amount of debt that individuals and businesses carry. When times are good, it can be easy to accumulate debt, but when the economy turns, this debt can quickly become a burden.
To prepare for the next recession, individuals should work to reduce their debt load as much as possible. This can involve paying down credit card balances, student loans, and car loans, and avoiding taking on any unnecessary new debt.
Similarly, businesses should work to pay down any outstanding loans or lines of credit, and avoid taking on new debt unless it is absolutely necessary.
2. Build up savings
Another key factor in weathering a recession is having enough savings to fall back on. In the event of a job loss or other financial emergency, having a solid emergency fund can help individuals and businesses get through tough times without having to resort to extreme measures.
Ideally, individuals should aim to have at least six months’ worth of living expenses saved up in an emergency fund, while businesses should aim for even more.
3. Diversify investments
During a recession, certain industries and sectors may perform better than others. By diversifying investments across a range of industries and sectors, individuals and businesses can help protect themselves against the worst effects of an economic downturn.
For individuals, this may involve investing in a variety of stocks, bonds, and other assets, rather than focusing on just one area. For businesses, diversification may involve expanding into new markets or industries, or investing in new products or services.
4. Develop a contingency plan
Having a contingency plan in place can be invaluable during a recession. This can help individuals and businesses stay ahead of the curve, and make necessary adjustments before things get too dire.
For individuals, a contingency plan may involve identifying ways to cut back on expenses or increase income in the event of a job loss or other financial setback. For businesses, a contingency plan may involve identifying ways to reduce costs, such as laying off employees or cutting back on non-essential services.
By taking these steps, individuals and businesses can help prepare themselves for the next global recession. While it is impossible to predict exactly when this downturn will occur, being proactive and taking steps to protect your financial interests can help make the difference between weathering the storm and being swept away by it.
The error is mine. Does this indicate that it would be unwise to get in the market now? With the recent price movement and the situation of the economy, I've been somewhat hesitant, but I also believe that now is the ideal time to. Your opinions on the dollar?
2023 ☹️
Personal advice to help people fretting about a recession is to look at the mutual funds industry as an indicator of real households
Make the puzzle, this channel just as the news blad, is from the Rothschild family.
Just you know!!
Sir this video is very very important
So basically WW3 is the only net result/ solution to human naivety /greed, bankster ponsi schemes and financial / political corruption that leads to fiscal Deficits, market correctional mayhem and Centralisation of control of industries!
It's 2022 and the recession is here. Oh and it started in the US again so….yeah
coming before 2022 recession
Greetings from 2022!
Yeah anything to blow the bubble bigger and bigger without a hiccup. That makes the world such a great place……. Spend spend spend and spend some more so the slaves have something to do.
Watching this for the first time in Nov 2021 is very disturbing…especially if you believe (as I do) that the Covid-recession was not "the big one"…
No one expected covid though all countrys incured debt to deal with its effects and vaccine global economic collapse coming
help
W
Online conference "GLOBAL CRISIS. THIS ALREADY AFFECTS EVERYONE" on July 24, 2021! with translation to 60 languages. Join ALLATRAUNITES. COM
They always increase tax and services when ever they have finish using their funds and need more.
We're set up for another major recession because the banking system hasn't been changed a jot. When nothing is changed, nothing will change for the better.
How to prepare… Make money
this aged like milk
buy gold and silver – be your own central bank!
In my opinion Biden/Harris policies will explode our deficit leading to a greater depression. Your votes have consequences.
No point at all made. Clickbaitshit
It's now
From wasting money foolish spending
Youtube has excellent videos on the coming financial downturn. Everyone should prepare now!
2021
Sooo…
The recession was predicted and it was decided that it would be better to preempt it and control it using a virus.
lol
That’s why you decentralised crypto currency Like bitcoin.. if you’d buy that every month the video was posted you would’ve made 3x of your money
Plans for a resession.
Plan A. Walk in front of a bus.
Plan B Go nutts & start killing people.
Not sure which one I will pick just yet but at least I have a plan ..lol
Corona
I know i shouldn't have commented on your post but am sharing this because I've been blessed with Mr Andrew Dennis ..He guidance and techniques has helped me achieve a lot in the stock investment. to anyone who wish to setup a trading investment with him can shoot him a DM on his Instagram page to know how to get started @Dennis_forex09.
I’ve decided to get a puppy.
I got help from expeditetools,com financially .They helped me with a transfer of $30,000 yesterday .