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How will the future of North American economy affect my own future?

I have high ambitions and goals to achieve in my life, and though I do wish to excel in all possible aspects of my life, I worry about the instability of the United States' economic system. Considering history's tendency to repeat itself due to human ignorance and general myopia, the economic system would likely collapse in my lifetime, triggering another economic depression in the United States. How might one such as myself protect my livelihood against such a likely collapse? What might I need to do in order to secure the future of both myself and my future family?

#future #economics #global-economics

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Vardan’s Answer

Here is what Bill Gates is saying about the future of the economy and to make sure you are prepared for it. Though he is not predicting another recession the role changes are inevitable. https://www.cnbc.com/2017/12/28/bill-gates-says-people-with-these-3-skills-will-succeed-in-the-future.htmlI tend to believe him.

Vardan recommends the following next steps:

I believe you can achieve everything you dream of! Write down your goals, chart a path, come up with a plan and execute your plan.
Thank you comment icon Vardan - Thank you for your answer. We need more advice like this, now more than ever! There are more than 1k unanswered questions on CV right now. Hoping you'll answer a few more this week! Jordan Rivera, Admin COACH
Thank you comment icon I appreciate you bringing this to my attention Mr. Mkrtchyan, I will look into it to see if I can come up with some sort of plan for the role reversal you mentioned Mr. Gates is predicting. - Michael Michael
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Robert A.’s Answer

Michael, your question shows that you are a big-picture thinker. Your concerns may well be valid, but while you are still studying it's important to focus on your own development. Once you have completed your undergraduate studies, you can think about the next step and if your concerns about the economic future of the U.S. remain at that point, then you should consider trying to influence that future yourself. I recommend reading J.D. Vance's Hillbilly Elegy, which is pretty shocking but which I am sure addresses many of the topics I'm sure you are considering. https://www.amazon.co.uk/Hillbilly-Elegy-Memoir-Family-Culture/dp/0062300547
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Dirk’s Answer

Traditionally, investments like gold (or other precious metals) tend to do well during a recession. Stocks will lose their values drastically, and depending how bad the recession is so will Bonds. Some people think that Real Estate might be a great alternative investment, but there are also risks. And please take into consideration that I am not a Financial Advisor.

If you want a job that is recession proof, then think about what jobs are ALWAYS needed, even if the economy is going downhill.
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