system
Given the following post, respond as if you're commenting on Reddit:
human
Should one buy stuff before a recession, or save the money ?

European here, noticing increasing news talking about an incoming recession, and I\`m wondering, should I buy stuff now, or keep my savings ?

Basically I\`m afraid my cash savings will lose their value, and wonder if I should buy stuff now, before the money loses it\`s value, so that I least I will be able to enjoy the stuff, or if I should hold onto the money.

This fear comes from the fact that my grandparents lost all their savings during the \`89 romanian revolution, although I believe that to be a different thing.

One day they could easily afford a house, the next day they couldn\`t afford a car, if that were to happen to me I would probably throw myself off of a bridge.
gpt
Firstly, just because the news is talking about it, doesn't mean it's going to happen. Nobody can time the market, or maybe a very small number of people. If you or they can, they can become insanely wealthy by shorting/buying puts. Truth is, we don't know if 2019 is going to be a pretty stagnant year, another recession or the biggest growth year on record.

Secondly, currency is one of the safest things to hold going into a recession, especially if it's something like the Euro or the US Dollar. The chances of it getting devalued or of a large inflation is close to zero. Maybe if you're holding currency of some small country that might default, then there is any reason to worry.

Thirdly, in a recession the price of goods will drop, especially property, so buying property before a recession is not a good idea.

If you want to be a 100% safe and really afraid of a recession, I'd advise you to keep your money in a hard currency (Euro, USD) in a savings account.