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A recession often presents a unique opportunity for the wealthy to buy stocks and assets at significantly depreciated prices, akin to a Black Friday sale for individuals with financial stability. By purchasing undervalued assets during market lows, the rich can set themselves up for substantial returns once the economy rebounds.
Negotiation Power
Recessions also grant the wealthy an edge in renegotiating terms across various financial agreements. Faced with desperate conditions, businesses are inclined to offer better rates to retain clients. Negotiation skills thus play a crucial role in maximizing profits during economic downturns.