Is the entire world in a recession right now? If so, how should you prepare for the financial crisis or depression?
Firstly, what does it technically mean to be in a recession? A recession is determined as two straight quarters of negative GDP growth, or, a reduction in business’ sales. That’s how a financial crisis is classed. But actually, reducing in sales isn’t a massive problem, its what happens as a result of these reducing sales that’s the issue.
When business’ aren’t performing well they typically tend to make redundancies, this causes an increase in unemployment, causing people to lose their homes which therefore causes a flood of houses onto the housing market and eventually a housing market crash, or a real estate crash.
So how can you prepare for the financial crisis or the financial depression? Its important to ensure that you preserve your wealth. Holding only cash in a bank account might not be the best idea. Diversifying your wealth into the stock market, or bonds, or gold/silver is a good idea.
But remember, not all stocks rise and fall at the same time, some are more or less susceptible to recession. Also remember that interest on bonds is paid in USD or GBP, which could become worthless if inflation rises rapidly.
Silver and gold are good options to store wealth as more of these metals cant be ‘printed’. The Silver Price appears much more stable than the Gold Price because gold has already had a very extended run up, remember, the plan is to buy low and sell high. Not buy high and sell a little higher or even worse, buy high and sell low.
If you’ve made it this far be sure to leave a comment down below letting me know 🙂
My Favourite Investing Books;
Rich Dad Poor Dad - https://amzn.to/3gqVJBW
The Big Short - https://amzn.to/2ExjIB5
The Wolf of WallStreet - https://amzn.to/2PgVeyo
The Four Hour Work Week - https://amzn.to/30hr3xe
Think and Grow Rich - https://amzn.to/2XkLyHg
Intelligent Investor - https://amzn.to/2BUqEYg
The Equipment I use to make these videos;
Camera - Canon EOS M50 - https://amzn.to/3225DVx
Microphone - Rode Video Mic Go - https://amzn.to/2F4C5On
Lighting A - 2x Softboxes - https://amzn.to/331O1IW
Lighting B - Neewer Ring Light - https://amzn.to/3309wda
Small whiteboard - https://amzn.to/2R6urW5
If you enjoy these videos and want me to continue making more, consider becoming a member of the channel here; https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA/join
Buy bitcoin using Coinbase here - https://coinbase.com/join/smallb_1u?src=ios-link
DM me on Instagram to get a free share worth up to £200 with FreeTrade - ThomasJamesYT
Social media
Instagram - ThomasJamesYT - https://instagram.com/thomasjamesyt
TikTok - ThomasJamesYT - https://tiktok.com/ @thomasjamesyt
Subscribe for more related content - https://youtube.com/c/ThomasJamesPropertyInvesting
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.
Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
Inspired by Graham Stephan, Meet Kevin, Shaf Rasul, Andrei Jikh, Nate O'Brien, The Credit Shifu and more.
#Recession #FinancialCrisis #Depression