The stock market is dropping at a substantial rate. So are many people’s assets. Is this the time to buy or to sell.
When Stocks Crash…
Things tend to get cheaper, unemployment rises, money loses value, precious metals go up in value. Many times when stocks crash people go into a frenzy(especially when you pair that with a virus…). As people go crazy there is that one percent who use it to their own advantage.
The One Percent?
The one percent is those people you know who are always making more money than you and you don’t know why. While you work at your job everyday they just stay at home and do nothing, right? They got there from hard work, but you work hard too. One percenters worked especially hard researching and doing something until it worked, not what they were told by the world.
Money On A Thin Line
At this point in history (2020) there is no certainty at what anything will be like in a year. You have probably heard of inflation if not it is essentially where money is going down in value. When the government first started printing money it was backed up by gold and silver, but a good indicator that it is probably not anymore is inflation. If the stocks do crash completely then paper money will lose a tremendous amount of value.
Precious metals are silver, gold, etc. These will go up a huge deal if the stock market crashes. This is called a recession. The reason is that everybody knows that paper is worth almost nothing, so if our money is not backed up by anything it will be worth nothing.
As people get nervous they do unreasonable things. Toilet paper is disappearing from off the shelf. At this time stop, drop and think. People are spending money on things they don’t need or even want. If you save that money for the future you will be better off. Tell me what you guys think about these times in the comments below.