I saw this on my Twitter feed earlier today and not something we want to see but in all honesty does make sense. The economies around the World are shot to pieces and can't take much more punishment.
I have seen it with my own business and the clients we service with the majority buying far less than they were over 2 years ago. What is relevant is the goods I am selling is packaging material and they are a must have for these businesses and by what they are ordering tells me how much their business has shrunk. The majority are hovering around the 60% whilst others are down as much as 75% and yet everyone says the economy is recovering?
Who is everyone trying to kid as I am not buying it for a second as I can see we need to hit rock bottom before a full recovery will happen. There will be bloodshed in the markets and funny enough very optimistic abut crypto if this does happen. The last recession was pre bitcoin and crypto happening in 2007 so what effect will this have and will crypto suffer as badly as stocks and shares?
Not forgetting we have our very own HBD offering 12% which is rather comforting.
The one good thing is everyone is in the same boat unless you have crypto and from my understanding that is still a small percentage compared to the rest of the population. Little do they know what wealth is being generated through the likes of DeFi and staking and I say bring it on as the mindset remains the same no matter the price. You sell your stocks and shares into FIAT and where are you going to keep it? Wow you may be able to get 0.5% from a friendly bank or you could stick it on a stable coin earning double digits in interest and not lose, but earn whilst the financial storm passes.
All this does for me really is think logically as I need to get the builders doing the alterations on the second house to hurry up so it can hit the market. The last time around property prices did suffer and I do not want to lose more than necessary by a month or two due to bad luck and bad timing.
Funny how crypto changes your mind set from doom and gloom to one of opportunity as they are all around us offering us a selection of fine choices.