Economic recession and what it can do to you

0
0
0
0
0
0
0
0
0
or copy the link

Economic Recession and Exactly what it Can do to You

The country’s economy operates in a cycle. At times you are up and often you are down below. A fiscal recession is the low part of that routine. People do not notice that it is occurring before because federal government was swift to do something on it and its policies and clout could actually stabilize the country’s economic system before much damage is done. However, lately, the efforts from the government and their policies were not enough to avoid the downward spiral of the country’s economy.

Together with rising costs in oil affecting the costs of basic products, people are scrimping on their purchases. This has affected organizations leading to job losses and financial difficulties. The real estate industry has additionally crashed leaving numerous foreclosed properties because people just can’t afford to give the monthly premium any more. The same goes with the banking and insurance sectors that are also feeling heat of the economic recession.

However what is it really about How can economic recession affect our daily lives and just how is the government addressing it. Here are some of the things that you should know about recession and the things that it can caused by you if you don’t watch out.

1. It can make you drop your job
Economic recession is really a period known for job cuts. When need for products lessened and companies lose their money, in order to they can survive would be to cut jobs. Which they cab justify as there will also be reduction in production. If you are one of the unlucky few that are working for a company going through such losses, you might stand to lose your task.

To prepare for this scenario, try to check the background of your company. Tune in to the office grapevine about potential losses. Generally, you will know if a business is losing money. If you think that your company is losing money, produce a back up plan for those who lose your job. This is especially true if you are working in the assembly line or even in the production line.

2. It could make life more difficult
Prices will often be high during an economic recession. This is because fewer supply of goods will cause a rise in the prices. Although government will try to stability the situation out through introducing tax cuts, this may not assist the situation especially if there were many job losses.

Besides this, outlook in life will also be much more pessimistic and sadder. Individuals will try to scrimp on their own expenses, no longer opting for their usual entertainment. Although, there has been a report that movie tickets sales go up throughout recession. This is perhaps because those want to forget their problems for a while and simply enjoy the world of the particular make believe.

3. It isn’t forever
One optimistic thing that people looks forward to is the fact that financial economic breakdown is not forever. As i’ve already explained, recession is a routine and when you are lower, the only way you can move is up. That is why, for your meantime the goal during these trying times is to journey the waves and also survive. There is no need to panic or to be worried about the future. You’ll see, almost everything will right itself.

Comments: 25

  1. Ahmad March 19, 2013 at 3:12 am Reply

    Is an economic recession a good thing or a bad thing for the common people?

  2. Catarina September 17, 2013 at 12:40 am Reply

    What are the causes and effects of an economic recession?
    What can the government do to prevent one?
    How can the government deal with it?

  3. Roger September 26, 2013 at 3:05 am Reply

    What was the cause of this economic recession, could it be because of the war in Iraq, what?

  4. Edison September 26, 2013 at 3:10 pm Reply

    We “learned” about it in Economy from watching an extremely boring video about it…. I absorbed nothing from it.

    Can you please provide me with links or a summary of how this economic recession occurred?

  5. Porter October 14, 2013 at 7:16 am Reply

    Top economists say that the US is in a economic recession.. but upon reading the definiton of “Recession” it states that a recession is two consecutive quarters of negative economic growth. The US economy grew .06% last quarter.

    How are we in a recession…?

  6. Sonja November 5, 2013 at 2:50 pm Reply

    What is the recent economic recession, in which the decrease in GDP led to deflation rather than inflation?

    Explain and contrast the situation with an increase in the price of oil to lead to both recession and inflation.

    Thank you!

  7. Justin December 9, 2013 at 2:38 pm Reply

    I have already taken some economics courses at university but still wondering about the future duration of the current economic downturn. As the unemployment rate is quite a tough issue right now as companies are laying off, I am always concerned about my future careers.

    Also can anyone tell me what we can do to fight against it as individuals? Try to spend more money or to save more?

    P.S. I am in Canada but I think Europe is also affected by this economic recession to some extent.

  8. Belle December 15, 2013 at 9:54 am Reply

    we are discussing this topic and i have to represent USA and come up with some solutions.
    how can countries possibly recover from an economic recession without risking sovereign debt crisis?
    also, what are some sovereign debt crises that occurred in the past, and what went wrong there?

    thanks so much.

  9. Cody December 15, 2013 at 3:27 pm Reply

    I am 17 years old and I have a Mock Interview this Tuesday evening for an application to a Midwifery course. I presume I will be asked about how this career and jobs in this career have been affected by the economic recession however I do not know any midwives! Please answer, thank you !

  10. Zackary December 16, 2013 at 6:58 pm Reply

    What are you thoughts on the current situation? This week will be very interesting. Will you be making any changes personally? Do you think it would be wise to start to consider the possibility of a full economic recession? Unlike the US, Australia doesn’t automatically guarantee savings in the event a bank goes into liquidation. Are you confident in the government reassurances that our money will be protected?

  11. Lanny December 31, 2013 at 7:17 pm Reply

    How has your lifestyle changed for the better as a result of the economic recession?

  12. Wilburn January 13, 2014 at 2:17 pm Reply

    Does anyone else feel like in today’s economy, it is impossible to get ahead. You need debt to buy just about everything!

    I am a 25 year old guy who live in NJ. I make what many would consider good money. I am not a lavish spender, I drive a Honda Civic. Yet, I can barely afford any of the houses in the area.

    Are you in a personal economic recession?

  13. Latia January 18, 2014 at 12:51 am Reply

    hey everyone i have to make a general studies project on economic recession where will i get information for the same? Please help…

  14. Lorriane February 21, 2014 at 1:15 pm Reply

    What’s your GUESS ?

  15. Maria February 21, 2014 at 1:16 pm Reply

    just a short summary of it.

  16. Kathy February 22, 2014 at 1:53 am Reply

    What do think caused the U.S economic recession ???

  17. Gita February 22, 2014 at 2:01 am Reply

    Will it end in a war like second world war.

  18. Christian February 22, 2014 at 2:02 am Reply

    With the economic recession, have rates for return on investment – specifically GIC rates – increased or decreased? Why would this happen?
    I have noticed that the rates are somewhere between 10 and 15% on average. Is this accurate?

  19. Myron March 6, 2014 at 6:11 pm Reply

    I want to know from the beginning what this economic recession is. I am a young boy so try using some easy to understand words. Thank you in advance.

  20. Lance March 16, 2014 at 2:03 am Reply

    I am conducting a research paper on the economy and how the downturns have affected *students* in particular.I’m looking for answers for these questions, but anyyyyyyyy feedback would be greatly appreciated!!!

    Is the economic recession affecting you at all? On a scale of 0-10, 0 being “not at all” 10 being “Highly affected”
    Has the recession made you more pessimistic? About what?
    Are you resorting to criminal activity because you can’t get money?
    How is the recession affecting you school life – no extra money for books or extra classes and such? Are you reconsidering your career choice because of it?
    What about your social life? Has it caused you to stop going out because you’re in a tight squeeze?
    Would you even go so far to say that it makes relationships a bit more strained? (I mean, marriages are falling apart cause of it,so why not family relationships or friends even?)
    What about your morals? have they changed because of it?
    And your health? Is it being affected at all by the recession? How so?

    I really appreciate any answers I get =) thank you!!

  21. Melaine March 22, 2014 at 6:20 pm Reply

    Michael Moore is making a movie about Capitalism, saying that it’s the reason why we’re in this economic recession. I’ve heard a lot of Americans tell me that Capitalism is flat out pure evil, greed, and needs to be done away with. Is Capitalism really the reason why we’re in this economic mess?

  22. Salena April 7, 2014 at 9:38 am Reply

    The 1930’s saw one after all the reckless excess of the 1920’s, so is this a likely occurrence in the near future?

    Also, have HIGH ENEGRY COSTS helped a lot to move the economy in that direction?

    Also who swallows the costs of overnight high gasoline price spikes in the USA?

    Where does the money come from, how is this paid for….more credit?

    p.s.
    Please no “Gas has always been high in Europe or ___” type answers please, since this is focused on the USA and the world by default of economic impact.

    So, USA depression similar to or WORSE than the 1930’s or not?

    If not, then why?

    If so then why?

    Thank you.

  23. Virgina April 7, 2014 at 9:57 am Reply

    I hear talk of a possible recession in Aus, but I was not around when the last one occurred. Can someone tell me what excactly ( I know that it has an impact on the eccomony ) but what sort of impact does it have on the individual or family?
    Any info will be helpful thanks

  24. Alex April 8, 2014 at 8:03 am Reply

    …in the US…economists said it was a very short recession–8 months
    I don’t care when it started…2000 or 2001…what caused it?

  25. Tamie May 13, 2014 at 3:58 pm Reply

    By ‘doing well’ I mean they either see upturn in popularity/sales/importance.

Leave a Reply

Your email address will not be published. Required fields are marked *