THE 2023 ECONOMIC DISASTER
THE 2023 ECONOMIC DISASTER "What are the first things people should be aware of in 2023? First, we need to be ready for any potential economic downturn. History shows that the last major market crash was in 1929, and it took 25 years to recover from it. If another market crash occurs, a bailout may be necessary. A bailout involves rescuing a struggling entity, such as a firm, from financial issues. However, if we look at past market crashes, such as the ones in Mexico in 1994, Russia/LTCM in 1998, the dotcom crash in 2000, the Lehman Brothers collapse in 2008, and the pandemic in 2020, we can see that each economic bailout has been more significant than the previous one. While economic bailouts are common, there is a limit to how much they can be used. When money is pumped into the system, it often results in more debt. If the cost of the last bailout was one trillion dollars, the next one could cost up to twenty trillion dollars. Therefore, governments must be cautious about the