RECESSION AND WHAT CAUSES IT

Welp! Let’s talk about the American economy and how it affects our cryptocurrency and the USD. We already knew that during this week we would find out more about whether or not the United States was officially in a recession or not. Turns out that we are. 🤷🏾‍♀️

A recession occurs when there are 2 consecutive quarters of negative GDP. GDP stands for Gross Domestic Product. Gross domestic product is the total monetary value of all goods and services that have been PRODUCED AND SOLD in the United States (or any country) during a period of time (In this case we’re talking about quarterly).

Gross = total amount

Domestic = local, within the USA

Product = things produced that are consumed or sold.

If consumers are spending more money, that causes the GDP to rise, or if consumers are spending less money that causes the GDP to decline. Even though there’s a recession and we see food and gas prices are more expensive, those things (food and gas) are known as essentials. However, essentials don’t grow an economy. What grows the economy is when consumers spend money on extra things like eating out, going to the movies, buying that extra pair of shoes, traveling, etc. As long as Americans are doing those non-essential things, the GDP will rise and keep on rising, but right now, things are a bit tricky.

Let’s shift to earnings season, that’s where we are right now. This is the season when we find out how the heavy hitters have been doing. So companies like Google, Microsoft, Facebook, Apple, etc. - have been releasing their financial info this week and we’re keeping our eyes on it. What these CEOs say about their company projections is important because the future of their companies affects stock and crypto markets.

Besides keeping an eye on what they’re saying - we are also (more importantly) keeping our eyes on the Holy Spirit who gives us His wisdom to manage our financial affairs. So yeah, things may look rough between the GDP decline and a recession, but YEAH, things are shining so brightly in the Kingdom of God!

That’s where we reside, in the Kingdom where there is light, wisdom, revelation, anointing, power, and strength! Keep that in your heart today, you’ve already won!🙌🏾🙏🏿🤎

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.