.png "Why Jeff Bezos gave a big warning to the world about the recession? | Recession Once again | Job crisis.")
Jeff Bezos gave a big warning to the world about the recession:
Recession, you must be hearing these words continuously. Now Jeff Bezos, the founder of Amazon and included in the list of the world's richest people, has recently given a big statement while talking to a TV channel about this word. In this conversation, he warned people about the coming economic recession and also gave some advice.
What did Bezos say about the recession and what advice did he give to the people? We will tell you all this in the article. Talking to CNN, Jeff Bezos said that in the year 2023, there could be a recession in the whole world including America. In such a situation, people need to have money in times of recession.
Along with this, he has advised people that in this era people should avoid buying things like expensive cars, and TV. People need to have money. Jeff Bezos said that people should avoid buying things like TV, fridge, and car during the festive season of Christmas and New Year. It can be a wise decision to save this money for tough times, as the impact of a recession can be long-lasting.
Apart from this, he has also advised saving small businessmen in this difficult time. He said that if the risk is reduced a little for small businesses, then it can prove to be very beneficial for them. Bezos believes that many companies around the world are laying off their employees. In such a situation, people need to spend money wisely in these difficult economic times.
But many people are also criticizing Jeff Bezos. Many experts have criticized him after this advice. Jeff Bezos has prohibited Americans from investing in the auto sector. In such a situation, the expert believes that due to problems in the supply chain, the auto sector has suffered a lot in the last 2 to 3 years. After this, Jeff Bezos's advice could harm this sector further.
The auto sector is considered a very strong pillar of the American economy. At the same time, after this advice, there can be a lot of differences in the auto sector and in such a situation, the founder of Amazon said that he will donate most of his $ 124 billion wealth to deal with climate change. Although Jeff Bezos did not clarify how much of his wealth he was planning to give away.
When asked whether he would donate a large portion of his wealth to charity during his lifetime, then he replied Yes, I do. Talking about charity, he has recently donated $10 billion to the Earth Fund, an organization working for climate change. Apart from this, he has also announced a donation of $ 200 million to the Smithsonian Space Museum to work in space technology.
Recession Once again; Job crisis:
The sound of recession is being heard all over the world.
Many people lost their jobs and faced unemployment, due to the economic crisis
and epidemic in the past. Now once again the clouds of economic crisis have
started hovering over the world, and big countries were put in tension.
Everyone from rating agencies to IMF i.e. International Monetary Fund and World
Bank has already expressed their apprehensions about the recession.
Inflation is at its peak in America and Europe. Inflation exceeded 10% for the first time since the reunification of Germany. At the same time, Britain is also in the grip of an economic recession. After the Russia-Ukraine war, most of the countries of the European Union are going through a severe recession. Its big impact is visible on employment.
This is the reason why the big companies of the world are doing layoffs. With the sound of the recession, retrenchment has started in many sectors. The retrenchment phase has started in American tech companies like Meta, and Twitter. Companies have banned new recruitment. When everyone's throats are dry due to the sound of recession, the effect of recession can be reduced by taking some necessary steps.
For this preparation has to start from now. First of all, you have to strengthen your resume. Now up scaling has to be done, which means you have to learn new and relevant skills so that you have a variety of skills and if needed, you have the option of working in some other field. Along with this, you should always have more than one income option.
Income diversification is necessary so that if the extreme is affected, money keeps coming from other streams. You should also have a sizeable emergency fund to tide over tough times. You should have so many savings that your work can go on for the next 3 to 6 months. If you are investing for the long term then do not leave it at all. What is your investment goal, what is the timeframe, and make your strategy according to your risk appetite?
When the country's economy becomes slow and sluggish for a long period, then that situation is defined as an economic recession. Even though the world is facing the changes in economic crisis, it will not affect India's strong economy. The International Monetary Fund i.e. IMF has said in a recent report that India is in a better position than other countries.
When the global economy will decline in the coming times and recession will take the big countries of the world, then India will be seen in a strong position at that time also. The threat of recession has brought down India's economic growth forecast for the financial year 2022-23 from 7.4% to 6.8 %, which is much better than China, the US, and the UK. Despite this, we also have to take some precautionary steps to avoid the impact of the recession.
You have to strengthen your portfolio. Along
with this, such preparations have to be made regarding investment and career,
which will save us from being scattered even in difficult times.