Latest News

Jeff Bezos Warns Of Economic Recession, Advises People,”Hold Onto Your Money”

The Amazon founder said that consumers must keep their cash safe and avoid spending on unnecessary items in the coming months.

Jeff Bezos has recently warned people about an oncoming economic recession!

Amazon founder and billionaire Jeff Bezos issuing a warning to consumers and businesses said that they should consider postponing large purchases during the holiday season as an economic recession might be in the offing. 

While speaking to CNN, the business tycoon advised consumers to keep their cash safe and avoid unnecessary spending in the coming months.

He also recommended that American families avoid the purchase of big-ticket items such as new cars and TVs as the United States is staring at a recession. 

“Take some risk off the table,” Bezos said, adding, “Keep some dry powder on hand…. Just a little bit of risk reduction could make the difference for that small business, if we do get into even more serious economic problems. You’ve got to play the probabilities a little bit.” 

“If you’re an individual considering to purchase a big-screen TV, you might want to wait, hold onto your money, and see what transpires. The same is true with a new automobile, refrigerator, or whatever else. Just remove some risk from the equation, he added.

Stating about the economic condition, he went on to add,”economy does not look good right now”.

“Things are slowing down. You’re seeing layoffs in many many sectors of the economy,” Bezos said.

On the other hand, in the same interview Bezos announced a huge donation from his $124 billion fortune to charities fighting climate change.

He has also donated money to support people and organizations trying to bring people together as social and political divisions grow.

The billionaire did not share the exact amount he would give away though. 

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

Related Articles

Leave a Reply

Your email address will not be published.

nineteen − twelve =

Back to top button