TES Insights
The ‘Silent Recession’ Generation
Every generation has its own unique set of global economic challenges and opportunities. After World War II the global finance communities established the Bretton Woods Agreement which defined international currency exchanges. Then in the 1970s, there was the relaxation of the gold standard, so currencies around the globe were no longer affixed to a specific amount of gold. Fast forward to today as we see the rise of cryptocurrencies shifting the entire concept of what a fiat currency could be, making headlines and turning teenagers into overnight millionaires.
While it is interesting to read in the news, for most people that is all this is, a news headline. Most people have a household budget and look for sensible ways to avoid the impact of a looming recession or worse, a “silent recession.” A silent recession is when wages shrink as the price of goods rises. During a silent recession, the stock market often remains stable and unemployment appears low, but people still have trouble making ends meet or are living paycheck to paycheck. Mix in the international unrest and rapid technology advancements, and you would think this is a recipe for fear. But I see things differently; I see this as laying the groundwork for a future in which entrepreneurs can achieve their financial and lifestyle goals.
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