Everybody is involved
This time it’s not one country nor one state neither one family or one person but every human being that can say to a certain degree of assurance that he is fully satisfied with the financial consensus happening around the world
the rich also cry 😢 that’s a word that is no longer relevant in this dog eat dog century the right word on the role now is the rich always cry.
In the year 2022 the richest 25 people in the world lost a collective 200 billion dollars in networth.
this year 2023 both the number of billionaires in the world and thier volume of wealth are down as stated by forbes.
the world is scrambling for solution to the never ending economic back straps, tech stock has risen very high, companies are gearing for cheaper and faster alternatives, it doesn’t matter if production rates of products are high’ the over soaring inflation on products have made demand for necessities low.
the average person cannot cope with the ever increasing price of goods and commodities,
the masses are backing away from buying and even demands for necessities are dwindling,
the worsening economy is making people leave jobs, companies dont have enough hardworking workers majority only have incentive motivated workers. there is something called scarcity of talent in workplace because perfect talents are no more available in the market.
the flauntuation of dollar is also a key factor in the economic unstableness because the exchange rates are floating,they are not stable, in most african countries foriegn products are becoming almost impossible for average people to buy because the dollar is gaining more superiority over thier currency which in turn affects the currency exchange rate.
exchange rates have a lot of part to play in the economic rise and fall,
if the exchage rates are low then prices of imported goods will fall in value including domestic products that rely on imported parts and raw materials.
exchange rates also impact investment performance, interest rates and inflation, it even influences the job market and other private businesses like real estate.
While changes in exchange rates may not seem to affect most people in thier everyday life directly’ its indirect effects is widespread than we can possibly imagine
one of the reasons why africa is the poorest continent on earth is because many countries in africa has a weak currency and the currency holds no strong value, majority of the goods and products consumed in most african countries are imported,
and this makes the economy retrogress most times.
but the situation in more stable continents like the europe is also getting giddy and inflation is getting everly high, it’s like the farther you are on the ladder the quicker you drop, every big nation is now everly more concerned about thier fall than helping other small nations rise.
it’s like the bigger your economy is the easier a target you make.
it’s like a’ “hey small brother watch out for yourself because i ain’t done watching my own” .
thanks for your time.