Recession is on the horizon

Ever since the Iran-US conflict kicked off, the oil market has taken a serious hit. This situation is impacting countries all over the world, and it doesn’t look like the fighting is stopping anytime soon. We’ve got to consider the possibility that this could trigger a recession. Let’s not get too comfortable thinking it’ll blow over quickly. What if this drags on and we end up facing a recession? How ready are you for tough times ahead? Recessions are no joke, but those who plan for them often come out okay.

Well, I don’t think just the hike in petroleum price can take the world into recession as the world is already even shifting away from the dominance use of petroleum products thereby substituting them for other alternative. Let take the electric vehicle for example are already replacing the gasoline powered vehicles, same as the renewable solar power so I feel like the demand for petrol is getting less as compared to the years back.

Proper planning and planning can protect us from this effect. This effect will be seen on everyone, but if we proceed according to the right plan, we will be less affected than others. For example, Increase the amount of our emergency fund from now on, for example, if earlier we kept an emergency fund up to 3 months of expenses, increase it to 10 to 12 months. Increase the efficiency of work, as in every case it can be seen that the demand for work is decreasing a lot and many people are being laid off from companies, as an alternative, you can acquire some skills. Such as agricultural work, small food shops, etc. Avoid debt as much as possible and if you have to borrow, then take it from a place where you can get a loan at a very low interest rate. Etc.

Honestly, whatever economic trouble we are heading into, a lot of it comes from selfish decisions by some world leaders. They make big decisions without really thinking about the global consequences. As long as they and their people are secured and have stolen more than enough to sustain them and their generations to come, the rest of the world just has to deal with the impact. Now with things like the Iran - US situation affecting oil and the global economy, a recession is very possible. So instead of ignoring it, it is better to be prepared, cut unnecessary spending, save where possible and stay financially cautious.

I think it is not just a matter of fear, but rather taking some practical steps now like gradually cutting down on unnecessary expenses creating a good savings habit and calculating your financial decisions. We often spend without thinking but being a little more aware in such uncertain times can reduce stress later on. None of us can control a war or a recession but with proper planning and discipline and awareness, it is possible to manage the impact of this situation to a great extent. Preparing a little now is actually the smartest move.

Based on the report from the International Energy Agency (IEA), the energy crisis caused by the Iran war is worse than all other oil crises. The organisation warned that countries should be ready for high prices of higher fuel costs and rising food prices. Oxford Economics’ chief global economist, Ryan Sweet and director of global macro research, Ben May believes that oil prices need to be around $140 per barrel for two months to pose a recessionary risk. The price of products are already skyrocketing in my country because of the increase in the price of oil and electricity. I and my family are already cutting our expenses. We are also seeking alternative sources of income.

Sadly we have barely even begun to feel the effects of inflation that are set to come our way. More people competing for fewer resources is going to drive prices up, but we are also talking about key resources like ammonia and oil which ripple into many facets of life. It wouldn't be so bad if there was some end goal or outcome that was realistic to both opponents. Right now America, through it's weak president, is being manipulated by Israel to bash Iran - primarily for age old rivalry that is directly connected to religion. There will be a recession in the next year or two, because the world economy is not setup for such a seismic and far reaching shock right now, with neither side backing down.

It's the same in my country too but the problem is that even with the hike in food prices and other products, the USD is still depreciating over our local fiat currency which is not supposed to be so since oil price is on the rise and affecting the price of other essential commodities The cost of transportation is on the rise. I think this war will bring more trouble to the global economy. Trump second tenure looks like a curse because, I don't like where this war is heading to because Iran is not ready for negotiations.

Maybe on some countries that has enough oil reserves this might not easily feel but on 3rd world countries like mine petroleum is pumping like BTC during early which already x3 of the price when the war started. Foods, transportation and other essential goods price is already pumping while companies are already starting to layoff some workers or limit working hours due to electricity shortages. I think solar can’t cover on most of the petroleum use. Even solar equipment price here is also higher.

Countries haven't even started feeling the impact of the war that much. Currently, there are a lot of oil tankers that are still en route to various destinations. These tankers move very slowly, especially the largest ones, about 15-20 mph, so it will take a while before they get to their destinations, meaning countries will still have oil, even though it's a limited amount for a while. The main problem starts when these ships stop coming. Taking off about 20% of the world's supply will cause an increase in the price of the other 80%, and the price will only continue rising the longer the war continues. If the war continues, it will only be a matter of time before the Houthis block the Bab al-Mandeb Strait, where about 14% of global maritime trade passes through and also 12% of total global oil and natural gas. So the longer the war goes on, the worse the impact will be on the economies of various countries and aside from the innocent lives which are being lost directly from this war, every other person will feel the impact in the cost of living.

Maybe just few more weeks or a month, if this doesn't calm down anymore then that's the shock that we're expecting to come. We're not yet in the utmost effect of this war and yet, we're all feeling terrible already with how the price of oil gets up weekly. I have no choice but if it gets worse, I'll start to budget my weekly groceries and if more lay offs and lesser jobs. I'll have to do a desperate action for myself that I'll have to sell some of my holdings just to survive.

Honestly it's true the world is moving to electric cars and solar energy so the demand on petrol is reducing compared to as before but that don't mean that petrol can affect the economy especially when it depends heavily on oil, you see like the middle eastern and African countries. It won't cause full recession but it will definitely cause how people do spend money, the high cost of transportation and all this small scale businesses that do reply on fuel will also feel it. You see even with the alternatives that rises, petrol price still has impact that should be ignored

Its not just Petrol and Diesel, its all crude oil derivitaves like Kerosene [jet fuel] its also petrochemicals used in labs for example, its plastics, its fertilizer which is made by using Gas and recently helium which is used in microchip manufacturing. Did I mention that 30% of the global Gas supply has been affected? The fertilizer issue is massive because in the northern hemisphere its currently planting season. With an ensuing shortage for this year coupled with an El Nino weather system year there will be massive food shortages in 2027 [late 2026] You see most people are not looking at this because currently the only effects they see is petrol prices. How exactly is electricity generated for electric vehicles? Gas is the second largest consumable for electricity generation globally! Electricity for electric vehicles isnt stored in the air, a lot of people do not realise when they plug in their car that they are still using fossil fuels! Overall there is massive ignorance on what is looking more likely to be a global recession.

Aren't we already in it since the start of this war? There's no need for any verification and wait if we've already started to enter into a recession. Recession has a lot of faces and it's not only with the financial trouble but also with these wars that affects too many economies. Started to walk with commute although it sounds good but it doesn't get you to the point if your travel is far away. Trying to save more and making sure that there are enough supplies in the house. If you're solo living, you can survive this hard time easier than most family men.

If this war continues and the United States attack Iran infrastructures like the way Donald Trump peomised to attack Iranian bridges and electricity rigs, this will destabilize the war which is going to be hard for this way to end soon because Iran woild want to attack back and this will also affacts Israel also because they will be having a share of the cake that was produced by the United States. We hope not for the US soldiers to attack Iran and if this continues, their will be a greater problem Trump will not be able to settle.

The war is definitely not coming to an end anytime soon and we are already feeling the impact of the war globally,  so it's very possible that it could lead to a recession.  The most annoying thing is that I don't think that this war is necessary,   because i believe the dispute could have been resolved diplomatically,  rather than it leading to war. I think this war is just a show of power and greed, and this people really don't care about the effect on the people. Anyways I think people should just prepare ahead just incase this leads to a recession.

We are seriously waiting for the next few hours to see what the US next move will be, I can see that some countries most especially the Middle East country which host base for US military are actually scared and are calling for a seize fire from all parties, because if Trump who in his outburst almost promised genocide actually goes ahead with his plan I think the situation will escalate fast and this will definitely hit the global economy. We all can see the impact already with energy crisis growing in some part of the countries and also global flights are actually been affected due to shortage of gas for the planes. Some countries are actually going through the means of talking directly to Iran to allow them passage through the strait of Hormuz with South Africa been reported the latest country to have its ship gain passage

As much as the majority of us would like to see the ending of this war as soon as possible, that's pretty much not coming any time soon. Thanks to how Trump is handling this and how he's triggering Iran from saying that they're having a deal from attacking in a period of time. So, there's no essence for the Iran to have an agreement with him anymore and that's why this is likely an all out war until the end now that he's mentioned he likes to erase them which is a crime against humanity.

Going back to a time without the internet or motor vehicles—no one is truly prepared for that. I wouldn’t say 70%, let alone 80% or more of the global population, is ready for a return to the pre-modern era, since that percentage relies on the internet, petroleum, and other energy sources. Major nations currently in conflict, such as the United States, have largely begun to complain—and videos of people crying due to the hardships causing nearly all prices of basic necessities to rise are circulating widely. Countries far from conflict zones are also affected. Whether they like it or not, they must adapt to the situation, even though the impact is deeply felt. Such adjustments are essential because life isn’t always smooth sailing.

We have been in recession in my country for the past three years, what is happening now just add little to the suffering that we have been enduring since. It is so bad in my country that people spend up to 30% of their income in feeding and a lot of the middle class have cros to the other side of poverty. If things gets tougher than this, I don't want to imagine how terrible it will be for people all over the world including those feeling the direct impact of the war.