Tough times ahead
2001 was a Dot Com collapse. 2008 was a banking collapse that hit IT too. This year first it was the Tech companies and now its the Banking, Financial Sector that is getting hit, making it the worst of all recessions. And its expected to get worse with Fed likely to hike up interest rates. Its like this year we are having the worst of both 2001 and 2008.
The rate at which the world is changing is pretty insane. Just one mis-step and you'll lose your entire generational wealth.
Adding to it the current global downturn due to war and American Feds hiking rates is really messing things up.
Not a finance expert, but American economy should not have this much impact on the entire global economy. We seriously need to de-dollarize economies.
Sadly with more than 80% of global trade is happening via SWIFT and dollar, things don't seem to be changing anytime soon.
Coy Vernon
Stealth
a year ago
Not just Dollar, even Big Tech is having too disproportionate influence on Tech, literally dictating terms , arm twisting Governments, businesses. They sneeze, the Tech World gets a cold.
Tech companies got insane valuation during 0% interest rate era. It's correction time, valuation multiples have come down, and to justify that, they need to fire. Till now tech companies felt the market correction, I guess now the banking system in States is under lot of stress.
Let's see what happens next! But i agree we're kind of getting worst of both the worlds
Indian Banking and Financial services market is very tightly regulated so the impact is very low although yes the dependence on dollar and US economy needs to go down.
With the Russian initiative of trading in local currency,other currencies like rupee would be a stronger player in the coming years
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