Lets’ talk Inflation.
And recession.
Regardless of whether we want to admit it or not, things have been a little different in the past 6 months.
That being said, I am not an economist nor working in finance, however, I will talk about something related to inflation, recession and how you can respond to it in the way you THINK and ACT.
Before we dig deep into this awesome topic, I know there may be some people who would rather sing Kumbaya all day, holding hands and chanting mantras. How will the world change for the better just by holding hands and singing happy songs?
They tried in the 60s and that ended with Watergate. It will not. Period. What is inflation? According to the mighty internet (more precisely Investopedia.com), inflation is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy.
What is recession?
A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters – basically declining economic activity.
Let’s go deeper into history and list 5 of the World’s Most Devastating Financial Crises:
• The British Credit Crisis of 1772
• The Great Depression of 1929–39
• The OPEC Oil Price Shock of 1973 (Jackal, Carlos Ramirez Sanchez – 1975, kidnapping)
• The Asian Financial Crisis of 1997
• The Global Financial Crisis of 2007–08 I do remember inflation in the 1980s – allegedly because of the Iran revolution but I didn’t know better, I was just a teenager with big dreams, like owning a pair of Nike sneakers.
But what I do remember was that petrol was sold to car owners like, if your rego ends with an odd number on an odd date, you can put petrol in your car, as well as many winter nights where the electricity was shut down around 4pm.
I was doing homework under candlelight as if I was Galileo and Copernicus. I would finish my homework, no excuses.
Full article HERE
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