Is a recession coming?
If it does, why it won't be like the one we've ever seen before.
In this week’s newsletter: The case of recession, zkEVM, Women’s gym in 1940s, and many more…
Hi 👋 Prado here
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Every Friday, I publish one essay & 10 interesting things that will help you become healthy, wealthy and wise 👇
Essay of the week - The case of recession
The conversation about the recession is long due.
Inflation is at an unbelievable number. The purchasing power of money has gone down by 9.1%
what does it mean?
Let’s say you deposited $100,000 in your bank account some time ago, but now you only have $90,900.
No, you don’t really have $91k in your bank. You have the entire 100k, but the things you can buy are worth $91k.
Where did that 9k go?
Well, I’d let this video explain it to you.
Let me tell you a quick story:
Oct 1929, the US Stock market crashed. But guess what, the average citizen didn’t get much hurt.
Why?
Because only 2.5% of people owned stocks at that time.
Things started to go crazy a couple of years later when the banks started to fail.
1929:- 500 banks failed.
1931:- Over 2300 banks failed.
Then came this loop 👇
This is usually how a recession starts.
People lose their jobs, things cost more, less money is being spent, businesses fail, savings get wiped out, and on on.
When banks failed in 2008, better systems were set in place to not let things like that happen again.
Blockchain technology came into existence. Bitcoin started the decentralised finance revolution.
Going back to the question - Is there a recession coming?
Honestly, I don’t know. I’m sitting tight. I’m Spending less, saving cash, learning as much as possible, looking for places to invest when things go south (Discounted price), and talking to people.
One thing I’m pretty sure about is that the next recession like every other recession will be like the one we’ve never seen before.
Open to having more conversations on this. Feel free to reply or HMU on Twitter
10 Interesting things for you 🙌
1. Polygon launched zkEVM - I believe this will drastically help Ethereum scale faster (Blog)
2. Something from my Twitter👇
3. Watch this video of a woman’s gym in the 1940s
4. The term Wi-Fi doesn’t actually mean anything. A marketing firm came up with the term to make it look cool (Blog)
5. Interesting Human of the week:-
6. Question of the week:-
7. Picture of the week:-
8. Current read: Got the book “The four agreements” this week. Haven’t started yet.
9. Meme of the week:-
10. Quote of the week:
This is what happens when the creative dept is overrun by the marketing dept. Being data-driven is the death of art." - Read this somewhere, don’t know where.
(Tweet this quote)When given the choice between being right or being kind, choose kind. - R. J. Palacio
(Tweet this quote)“Story. Community. Creativity. Vitality. Soul. Essential pillars of the Fifth Industrial Revolution” - Mona Hamdy
(Tweet this quote)
Check out some previous newsletters:
Diderot Effect (Read)
Life’s lines of Closeness (Read)
Cathedral Thinkers (Read)
Join in if you want me to trigger your curiosity every week👇
In This Together,
Prado
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The recession video and the 'what motovates culture ' are the two most wonderful piece i saw this week. Love your news letters. Thanks. take care