This may be a time to pause that vacation or the purchase of that extra “goody”, and focus on things which are absolutely necessary. Indeed, from the way things are looking, the world’s economy seems to be catching a bad cold. When Apple, Facebook and the broad banking sector are optimizing their workforce and expense lines, do not think they are guessing. Yes, data drives those decisions, and that data is sending a clear message: expect an economic reverse in months.
They say in natural philosophy that actions and reactions are equal and opposite. In socio-economic philosophy, that seems to also be the case, except that the reactions take months and years to show up. When your action is pumping economies with cash (excessive money), one day, you will get a reaction. We’re possibly getting close to that day.
#plan because the global economy is catching a bad cold.
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Understand that planning could be as simple as scheduling a time with your bank account officer. S/he goes through your incomes, expenses, etc and develops a model. Sure, banking in Nigeria does not include that. But if you are in the US, call your bank. They offer those services for free. By having a bank account, you can get many advisory personal economy services for free.
U.S. stocks fell Wednesday, with the Dow Jones closing nearly 1% down, as the shockwaves from the collapse of Silicon Valley Bank reverberated around the world. Credit Suisse, one of Europe’s biggest banks, saw its stock drop more than 20% amid a flurry of withdrawals and a refusal by its largest shareholder to provide more funding. That in turn dragged down some major U.S. banks: Citigroup slid 5.4%, JPMorgan Chase 4.7% and Wells Fargo 3.3%. Midsize U.S. banks have also been impacted. First Republic’s credit rating was downgraded by four notches. (LinkedIn News)
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