Do you feel broke in the 2023 economic recession? Turn's out you're not alone. People are saving money at the slowest rate in 15 years. This is due to inflation, Jerome Powell (over at the Federal Reserve) raising interest rates, and many Government assistance programs being shut down. But is it going to change anytime soon? New Money Clips: My Podcast: If you'd like to try Sharesight, please use my referral link to support the channel! :D (remember you get 4 months free if you sign up to an annual subscription!) ★ ★ PROFITFUL ★ ★ Learn to Invest with Brandon van der Kolk (BUNDLE OFFER) ► Learn to Master Your Tax Return (SPECIAL OFFER) ► ★ ★ CONTENTS ★ ★ 0:00 Do You Feel Broke? 0:38 Reason 1 3:35 Reason 2 6:00 Reason 3 7:35 Is It Going To Get Better Soon? DISCLAIMER: Neither New Money or Brandon van der Kolk are financial advisers. The information provided in this video is for general information only and should not be taken as professional advice. There are risks involved with stock market investing and consumers should not act upon the content or information found here without first seeking advice from an accountant, financial planner, lawyer or other professional. Consumers should always research companies individually and define a strategy before making decisions. Brandon van der Kolk and New Money are not liable for any loss incurred, arising from the use of, or reliance on, the information provided by this video. Contact email: hello@newmoney.contact Note: I do not have the ability to answer all emails, but know that each email is read. If enquiring about sponsorship, New Money is currently only seeking sponsorship from established brands that do not deal in a financial product (as per Australian Law)....(read more)
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The year is 2023, and people all across the globe are feeling the pinch of a severe recession. Empty wallets, dwindling savings, and increasing debt have become the harsh reality for almost everyone. But why does it seem like everybody is feeling broke right now? In this article, we will delve into the factors contributing to the 2023 recession and explain the gloomy financial state the world finds itself in. One of the primary causes of the recession is the bursting of the housing bubble. Over the past few years, rampant speculation and lenient lending practices created an unsustainable rise in housing prices. This resulted in a bubble that eventually burst, leaving many homeowners with properties worth less than their mortgage debt. The housing market collapse resulted in a significant loss of wealth for individuals and led to widespread financial instability. Another crucial element fueling the recession is the cascading effect of the housing crisis on the financial sector. As housing prices plummeted, mortgage-backed securities held by banks and other financial institutions also saw their values diminish. This caused a domino effect, leading to significant losses and numerous institutions facing bankruptcy or requiring government bailouts to survive. The ensuing turmoil in the financial sector rippled through the economy, making it harder for businesses and individuals to access credit. Moreover, the pandemic played a significant role in exacerbating the economic downturn. In an effort to contain the spread of the virus, governments imposed strict lockdown measures, effectively shutting down entire industries. As businesses closed their doors, millions lost their jobs, leading to a sharp increase in unemployment rates around the world. With reduced income and uncertainty about the future, consumers were left with no choice but to cut back on spending, exacerbating the recessionary spiral. Global supply chain disruptions also contributed to the economic downturn. With borders closed, transportation systems disrupted, and trade restrictions in place due to the pandemic, the flow of goods and services was severely impacted. This resulted in shortages of essential items, increased prices, and reduced consumer spending power, all of which deepened the recession. Furthermore, government debt played its part in making everyone feel broke. To mitigate the impact of the pandemic, governments around the world implemented massive stimulus packages, injecting money into their economies. While these measures were necessary to support struggling businesses and prevent a complete economic collapse, they came at the cost of significant increases in public debt. As governments financed these packages, they had to divert funds from other sectors, leading to reduced investments in infrastructure, healthcare, and education. So, why does it seem like everybody is feeling broke right now? The answer lies in the interplay of various factors, including the bursting of the housing bubble, financial sector instability, pandemic-induced job losses, global supply chain disruptions, and soaring government debt. These factors have combined to create a perfect storm, leaving individuals across the world grappling with financial challenges. The road to recovery from the 2023 recession will be long and arduous. It will require governments, financial institutions, and individuals to work together to rebuild economies, address systemic issues, and find innovative solutions. While the current situation may seem overwhelming, history shows us that economies can rebound from even the most severe recessions. By learning from past mistakes, implementing prudent policies, and fostering a spirit of resilience and innovation, we can rebuild and create a more resilient future for everyone. https://inflationprotection.org/why-everyone-is-experiencing-financial-strain-in-the-2023-recession/?feed_id=116775&_unique_id=64af445e02eaf #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #broketomillionaire #economiccollapse2023 #economics101 #economicsexplained #economy2023 #federalreserve #financenews #inflation #Inflation2023 #inflationexplained #jeromepowell #ratehike #recession2023 #recession2023usa #recessionexplained #recessionproof #stockmarket #whyamibroke #whyyoufeelbroke #RecessionNews #breakingnews #broketomillionaire #economiccollapse2023 #economics101 #economicsexplained #economy2023 #federalreserve #financenews #inflation #Inflation2023 #inflationexplained #jeromepowell #ratehike #recession2023 #recession2023usa #recessionexplained #recessionproof #stockmarket #whyamibroke #whyyoufeelbroke
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