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Different Kinds of Decline
Physical Decline
.. is when there is a loss of machinery, infrastructure and people, be it from war, or natural disasters.
The rebuilding of physical decline can also provide a powerful economic boost. This can also lead to inflation, as the capacity to make goods has been destroyed.
Losing people due to war or a calamity is the hardest to recover from.
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Decline Explained
Currently, we observe decline all around us, whether it's the stock market, travel, or jobs.
There are three different Types Of Decline: Narrative, Physical and Technical/Legal.
Narrative Decline is when the capabilities remain the same but a narrative shift happens in the things we believe in and subscribe to. Narrative shifts determine whether we neglect, utilize or leverage our assets. Example: The stock market.
Physical Decline
.. is when there is a loss of machinery, infrastructure and people, be it from war, or natural disasters.
The rebuilding of physical decline can also provide a powerful economic boost. This can also lead to inflation, as the capacity to make goods has been destroyed.
Losing people due to war or a calamity is the hardest to recover from.
Technical Or Legal Decline
..is a type of decline in which due to a personal narrative, circumstance or condition, the work terminates, and one's identity is no longer able to survive.
If a business suffers bankruptcy, or if a person has defaulted or is arrested, a certain 'absorbing barrier' is reached, and all potential of any future activity is shut down.
SIMILAR ARTICLES & IDEAS:
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Understanding recessions are vital
Recessions are part of the fabric of a dynamic economy. The average investor fears recessions because they mean lower home prices, lower stock prices, and less or no work.
Several things ca...
Naming a recession
Recessions are really "depressions," but the term "depression" seems too terrifying. After the Great Depression, economists began to use the word "recession" instead.
The 2007-09 recession involved a financial crisis, high unemployment, and falling prices, and was named the Great Recession. Our current recession is still without a name.
An official recession
A standard measurement for a recession is two-quarters of consecutive GDP contraction. But the official arbiter of recessions and recoveries, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), prefers domestic production and employment indicators instead. Other signs of the recession include:
- Declines in real (inflation adjusted) manufacturing, wholesale-retail trade sales, and industrial production.
- Extended declines in production, employment, real income, and other indicators.
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To accumulate wealth...
- You need to make it. You need a long-term source of income that's enough to cover your basics.
- You need to save it. You need t...
Making Enough Earned Money
Earned income comes from what you "do for a living."
- Consider what you enjoy as you will be more likely to succeed financially.
- Consider what you're good at and see how you can use those talents to earn a living.
- Consider what will meet your financial expectations.
- Consider how to get there. Determine the education requirements, etc.
Evaluate your income situation annually.
Saving Enough of It
To ensure that you save enough money, your wants should not exceed your budget.
- Track your spending for at least a month.
- Trim the fat. Break down your wants and needs.
- Adjust according to your changing needs.
- Build your cushion. Aim to save around three to six months' worth of living expenses.
- Contribute to a retirement fund and try to get the maximum your employer is matching.
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History lessons
The point is that the more specific a lesson of history is, the less relevant it becomes.
Adopting new views
One of the interesting parts of the Great Depressions from history is not just how the economy collapsed, but how quickly and dramatically people’s views changed when it did.
People suffering from immediate, unexpected adversity are likely to adopt views they previously thought absurd. It’s not until your life is in full chaos (with your hopes and dreams your dreams unsure) that people begin taking ideas they’d never consider before seriously.
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