Watch out — a global recession is expected to hit before the 2024 election. This recession will significantly impact the economy, and here’s how it will affect you.
The threat of a dreaded global recession is on the rise, and its timing couldn’t be more coincidental — right before the 2024 United States election.
Typically, recessions are caused by demand weakness, and supply issues can also be a factor. Listen, with everything going on in the world today, there’s no surprise that a global recession is looming.
But what does this mean for you, the average person?
My Advice to Prepare for this Global Recession
Take care of your cash
If you’ve been following the news, you’re well-aware that Russia is invading Ukraine. It’s pretty much a world crisis at this point, given that countries and businesses all over the world are removing products from Russian shelves.
So, here’s what I suggest you do:
NEVER STORE CASH DURING A WORLD CRISIS.
Tangible assets are the only winner during wars where there are no winners.
Keep an eye on your investments
If you have any investments, now is the time to move them into a cash flow-producing asset such as real estate that will give you the most security for your portfolio. In uncertain times, it’s crucial to have a solid financial foundation to fall back on.
My prediction is that interest rates will not rise despite the Fed’s attempt to do so. The consensus is there will be 4-6 rate hikes this year, but I don’t see that happening without creating stagflation — the economy stalling and high-interest rates.
During times of high inflation, real assets will always outperform.
There are billions of dollars running towards real estate right now. And the basic economic principle of supply and demand has held true.
Real estate values have skyrocketed over the last 12 months — and you have probably seen this in your city.
So, if you have been listening to me for the last seven years and invested with me, know this — while you may be paying more at the pump, your investment with me will have benefited tremendously from this inflationary period.
Here’s what you need to know about Ukraine and Russia
Russia will ultimately control Ukraine. I know this is possibly hard to accept, but with all that’s happening right now, there is a slim chance that Ukraine will get away from Russian control.
Putin is a very strategic thinker, and he has already put so much into this invasion that it’s doubtful that he will let go of Ukraine anytime soon.
Listen, do not bet against Putin. He is a very shrewd politician, the type that will always have a plan up his sleeve. Do not bet against him, as you’ll most likely lose.
The other hard truth to accept is that sanctions don’t stop tanks and missiles. Sanctions may stop some business deals and make it difficult for Russian companies to do business overseas, but they will not stop Putin. He has already proved that he is willing to take the hit to Russia’s economy to gain control of Ukraine.
In short, there are a few things you can do to protect yourself from the looming global recession: take care of your cash, keep an eye on your investments, and find ways to get your portfolio into a real asset that will benefit from all of the pricing increases due to inflation.
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