Patient: Doctor I think I’m sick
Doctor: Okay, before we run some tests, can you tell me what you’re experiencing? In simple terms, tell me how you’re feeling.
Patient: Okay certain parts feel like they are collapsing.
Doctor: Please explain further what you mean Patient: there has been a decline in my business profits and household income. Also, I don’t want to add to the number of unemployed but I may have to let go of some of my staff. Can you help me?
On a more serious note though, the R word is what all countries don’t want to experience and for some individuals, it just might be more than a word. Inasmuch as it’s a terrible thing, the R word is experienced by businesses, corporations and countries. This economic sickness starts slowly as economic activities begin to slow down, prices of things get higher, income earned reduces or stays the same, unemployment rises, business don’t make as much profit as they used to, price of assets such land are lowered and generally, times are harder for all social classes. What you can do best is save towards times like this and ride it out. Next week, we will talk more about the R word and how best you can stay afloat during its’ visit.
Have a lovely weekend.