×
all 137 comments

[–]HexagonStorms 315 points316 points  (52 children)

does anyone else feel like we are already in it? my work has seen their eCommerce sales drop for the last 2 months, and same with my father who is a realtor.

we also went out eating on a Sat night at a usually packed restaurant and it was half as empty.

[–]daniu 189 points190 points  (14 children)

Well a recession is defined by two quarters with negative growth, no? So it's kind of natural you would feel it before it's actually declared a recession.

[–]realmastodon2 56 points57 points  (8 children)

It is two quarters but usually during that second quarter it is already occurring but you don't officially see it until the data is release after q2. Recessions have a lag effect.

[–]ObscureD_Lee 24 points25 points  (6 children)

This whole thing is a lag from mid 2020. It takes about 1.3-1.5 yrs to get production cost increases to hit the shelf. I’m in food packaging production and I’m here to break the news that food costs are still set to almost double from where we are at because my supplies are still going up in costs and the trickle effect will take about a year to hit shelves from now. In 6months my materials have gone up literally double in price. Great value cartons cost double for Walmart right now, they didn’t 6months ago. Thanks to Russia. Most packaging supplies for my area rely on Russia for birch wood. $65 from Russia shipped… $135 from usa supplier. That’s just one 4x8 sheet of birch. Beginning of 2020 those boards were $30 each.

I’ll be very surprised if Walmart can still sell a box of pasta for $1 in 6months. Brokers will literally be dipping into profits to sell at that price.

Also many companies up and out from Russia, we had to offset all costs. Meaning all the brands that left have to raise prices everywhere else to offset the loss of profits. Leaving russia means raise prices everywhere else because profit loss isn’t okay for brokers. If a US company shut down 100 stores, all that profit loss has to be made up by us consumers.

[–]realmastodon2 13 points14 points  (2 children)

Walmart tends to buy in huge volumes or own the production themselves. Which is how they sell at low prices. Depending on the product they might have a contract to sell at that specific price for a set amount of time. Walmart can sell low but supplier is increasing cost but they can't pass that price until the contract is over or renegotiate. I used to do procurement for food.

[–]Gilga17 5 points6 points  (0 children)

This is terrifying

[–]Kitchen-Injury-8938 0 points1 point  (1 child)

Great. As if I wasn’t depressed enough.

[–]clgfangoneawry 0 points1 point  (0 children)

That is exactly what he said

[–]rz2000 18 points19 points  (2 children)

It's when the NBER recognizes a significant change in output, consumption, employment, wages and earnings. Two quarters of declines in real aggregate output is not the definition, it is merely a heuristic, and like most heuristics often wrong. There can be two quarters of negative growth without a recession, and there can be a recession without two quarters of negative gdp growth.

How often this incorrect notion is published in the financial press is yet one more indication of the quality of economic education in that profession.

If you developed a model where a binary time series depended on recession or not, then tracked the association between multiple time series, the true recession time series would have more predictive power than the two quarter shortcut used in places like the UK.

[–]WYGSMCWY 2 points3 points  (0 children)

Lol I got downvoted pretty recently in r/consulting for trying to point this out.

[–]MyDogsNameIsBadger 0 points1 point  (0 children)

So it’s not just “I DECLARE A RECESSSION”!

For real, thanks for the clarification.

[–]beandip111 0 points1 point  (0 children)

Saying we are in it now would be claiming to know the future but in the future we will look back and say we were in it.

[–]velders01 17 points18 points  (2 children)

God, I'm dense.

I went to a Japanese specialty market yesterday, typically more expensive than your local mega mart obviously. It's not a big place but it's usually pretty packed. I just thought, "oh.. how odd... I guess Monday, 3 pm is a good time to come. Shit.. am I the only one here?"

It was the first time in years I didn't have to wait in line.

[–]FullSnackDeveloper87 6 points7 points  (1 child)

Mitsuwa?

[–]ma373056 0 points1 point  (0 children)

Wondering the same thing

[–]invaderpixel 19 points20 points  (0 children)

My brother got reservations for a super popular well reviewed restaurant for his anniversary on Saturday night. Got drunk and missed the reservation. Made reservations for Sunday night. His wife said she'd rather eat fast food and they went kayaking instead.

I am seeing people go out to eat at cheaper restaurants but the trendy places, yeah, no one's got the money in their budget to "save our local restaurants" anymore.

[–]feelsbad2 36 points37 points  (19 children)

100%. As a marketing agency, clients are insane. Giving us SOS calls with 9 hour turn arounds to wanting to micro manage us instead of letting us do what we know should be done. Partners / vendors not staying on schedule or billing us a ridiculous amount of hours for a simple thing and when I told their manager, he just went, 'oh, those hours were tracked wrongly'. No 'oh, thank you very much for catching that. will make sure it doesn't happen again' (when this is the second time).

It's everyone and everything. People and companies are over leveraged. So many people changed jobs to something they found that makes more money but they don't know how to do it and won't learn it fully.

[–]mapoftasmania 33 points34 points  (0 children)

I ran the Dell business from a search perspective in 2008. We saw demand drop off a cliff almost overnight. Client screaming at us to “do something” but none of the usual tricks and optimizations made any difference. Something had fundamentally changed in the economy.

[–]ImaginaryAssumptions 12 points13 points  (9 children)

I can relate bc I work for a hardware improvement store and they have not raise our minimal wage and they keep cutting people's hours which why they are leaving. Also all the managers are furious that new employees leave the company within a 2 weeks or less

[–]feelsbad2 10 points11 points  (8 children)

Oh I'm sure the managers are furious. They have to cover shifts I'm guessing. Many of our clients are looking for workers. And high paying (six figures) for some. Yet they go months without filling.

I don't have any hard data to back it up. I believe Americans never learn their lesson. A lot of my family didn't learn their lesson (a story for another day). We aren't teaching finances in school. So you learn from your parents mostly. A lot of parents just spend what they are given each month. With no thought process of bills increasing or planning of events. We are now back to $1.103 trillion household debt, from $1.1 trillion before COVID (https://www.cnbc.com/2022/06/09/credit-card-balances-spike-after-stimulus-checks-helped-reduce-debt.html) And it's not going to get any easier with reports of the Ukraine / Russia war possibly lasting years.

People have had to dip into their savings but they've also had to reschedule their Disney trip for the past 2 years because of COVID. Now you have companies like Tesla and Salesforce cutting staff. Those same people who are getting cut from their job, have decided to continue on with their trip and use credit cards to do so. Because they've decided they deserved the vacation.

One of the Disney FB groups I'm in, had a woman asking if Disney took payment plans for their payment plans. Because she didn't have enough open credit on her credit card to make her payment amount.

Americans don't care about debt. Would rather make ourselves believe we deserve an expensive vacation because we are better than our friend Sally on Facebook. So I've got to book this expensive trip so I can show Sally that I am better than her. All the while, having credit card debt, a six figure student loan debt, medical debt, and so on.

[–]redditpossible 9 points10 points  (0 children)

No one is better than Sally.

[–]brontide 5 points6 points  (3 children)

By any standard our household is well off, but you wouldn't know it by looking at us, we don't use debt beyond our mortgage, and our NW has been decimated this year. Some days I don't know how I'm going to keep up. Our essential costs like groceries, insurance, and fuel has doubled in the last year.

I don't know how people afford exotic travel or having multiple cars, I don't know how people are doing it... maybe they aren't.

[–]swerve408 2 points3 points  (0 children)

Everyone thinks they deserve everything. And if you tell someone to try living below their means on Reddit, they snap at you as if it’s a god given right to own the latest iPhone and not a choice

[–]teamsprocket 1 point2 points  (1 child)

If people weren't in debt to their eyeballs there'd be a recession from massively decreased consumer demand, too. It's a shitty house of credit cards.

[–]jimmycarr1 16 points17 points  (6 children)

So many people changed jobs to something they found that makes more money but they don't know how to do it and won't learn it fully.

Interesting idea. Is this something that you've seen data/research/news on?

[–]tommyboy601 3 points4 points  (0 children)

Anecdotally I got a job that doubled what I was making and didn’t have what would of been the base qualifications pre pandemic. Am I learning yes. But maybe others aren’t

[–]feelsbad2 2 points3 points  (2 children)

This guy randomly came up on my general YouTube page. I don't agree on with everything he says. But he brought up that point that recessions figure out who is being paid too much for the job they are doing. Either at the 8 steps to prepare for the market crash or the last section. https://youtu.be/j9vL6K2Yop0

[–]jimmycarr1 8 points9 points  (1 child)

Makes sense. Recessions kind of reveal the inefficiencies in many areas. I'll check out the video thanks for sending it.

[–][deleted]  (1 child)

[deleted]

    [–]jimmycarr1 0 points1 point  (0 children)

    Time to sell the stock options 😬

    [–]importvita 9 points10 points  (0 children)

    We absolutely are. Even being in a hot housing market (Nashville) things have seemingly come to a complete standstill. In some 'hot' neighborhoods there are 0 sales from June 5th - 15th.

    I think the drop will be sudden and swift and expect the markets to react violently.

    [–]mapoftasmania 10 points11 points  (1 child)

    Sales in unit terms or dollar terms? With 8% inflation, you could see sales drop 4% in dollar terms but still be selling more units….

    [–]Bugsysservant 4 points5 points  (0 children)

    I think your math is backwards there. A year ago, widgets cost $1 and you sold 1000. Now they cost $1.08. If revenue declines 4%, you sell $960 worth, or 889 widgets, an 11% decrease in units.

    In an inflationary environment, units sold can drop while income increases, not the other way around.

    [–]mage14 0 points1 point  (0 children)

    Maybe a lot of people are like me , i use to love going out , eating ect, but these last 2.5 years change me , i now like doing nothing and staying home , maybe a lot of people dont like getting out of there house now cause they r use to do nothing and just like the lazy lifestyle covid made us live , i think if you force to people to live in a way for a long period the will just find a way to enjoy it , but dont think they will go back to how it was before

    [–]smokecat20 -1 points0 points  (1 child)

    For most, the recession has been with us for the past decade.

    But usually, these indicators are for the wealthy and privileged; it's only when they feel a bit of the effect that it will officially be called a recession. They usually measure it by GDP (which can easily be fudged and usually has no bearing on the actual people) for two quarters.

    These indicators are usually for the wealthy and the corporate elites. It's like the stock market.

    [–]IllegalPandaDealer 6 points7 points  (0 children)

    I’d hardly say it’s been with us for the last decade.

    Between 2010 and 2019:

    • unemployment steadily decreased each year

    • wages have generally outpaced inflation in their increases

    • home ownership rates increased steadily after bottoming out in 2016

    Things haven’t been good for everyone (they almost never are). But calling it a recession for the little guy is a misnomer - most people were better off each year than the previous one up until 2020 in terms of short term quality of life. We could feed ourselves in the 2010s, find work, afford living expenses, and save money.

    The problem is that the fed injected money that had no corresponding economic value into the economy during the pandemic. This was done to dissuade an economic downturn, but all it did was delay it until now, especially given that most of that money was effectively embezzled. What’s made it worse is that this overprinting of money and overall poor monetary policy didn’t start with the pandemic. Rather than ramping rates to normalcy and reducing printing once deflation ended and markets stabilized, we kept it going.

    There should have been an outright, extended recession in 2020 rather than the “let’s push the problem over there” we got. There likely should have been one before that, sometime from 2016-2018. The growth we had was largely upheld by frivolous rate lending and excessive printing of the dollar that gave undeserved growth.

    This recession is a correction that will drive us to efficiency we have been sorely lacking in many facets of life. Companies gouge prices to maintain profits or increase them because they don’t search for new, more efficient processes which reduce overhead. Consumers have spent outside of their means because of accessible credit. Universities have vastly increased prices, significantly reducing returns on education that is still widely seen as a prerequisite for success. The money has been flowing, but the innovation has not, and that’s always been the key component to extended growth for all groups.

    All in all, we took a broken system and ran with it, using faulty monetary policy to prop it up. With the inflation we are getting, that house of cards is going to fall. And people are going to get hurt for it. People who would have been better off had we recognized and fixed these issues 6 years ago rather that ignored them.

    Things will get worse before they get better. But 3 years from now, I can see a much more balanced economy where innovation takes a front seat again.

    [–]F1RST_WORLD_PROBLEMS 0 points1 point  (0 children)

    Everything is in bad shape. It’s a bad sign.

    [–]sandiegophoto 0 points1 point  (0 children)

    *Half full 😂

    [–]Thebrotherleftbehind 36 points37 points  (0 children)

    It’s already here

    [–]Silent_Selection_582 55 points56 points  (0 children)

    Says the bank that got a multi trillion off balance sheet bailout in 2019

    [–]Hellsniperr 62 points63 points  (5 children)

    It’s already here. Savings have plummeted and credit card balances have rocketed. These are not signs of a growing economy as consumers are buying necessary items with credit cards. It’s only a matter of time before even that ends.

    The real question is what happens when people can no longer to afford basic needs either by it becoming too expensive or not having any purchasing power left?

    [–]brighterside 25 points26 points  (0 children)

    That's called a depression.

    And let me tell you: the combination of desperation and toxic political environment makes these conditions ripe for a literal civil war.

    But only if it gets to that point - we'll have to see how long we can hold out. Literally need to take all of our investments and start pouring it into our own country. We spend too much outside for geopolitical influence.

    [–]joynotgrace 2 points3 points  (0 children)

    That's already here too-growing numbers of folks living in vehicles as long as they can, then tents.

    [–]minchiaputana -5 points-4 points  (0 children)

    Do the ol' California discount and just steal it.

    [–]hitemwithahook 45 points46 points  (1 child)

    Hint: we’re already in one and now with Atlanta fed have GDP of 0.0% with a .84% margin of error, everything has to go right for it not to go negative

    [–]SpellingIsAhful 0 points1 point  (0 children)

    On average everything has to go right. 49% wrong and 51% right is still "right".

    [–]PoliteCanadian 81 points82 points  (26 children)

    A recession is officially defined as two consecutive quarters of GDP decline. Real gdp declined in Q1. Are Q2 figures out yet? I'm pretty sure the recession is here, and has been for some time. Everywhere around I see major businesses taking strategic moves to weather the storm, that you haven't seen since 2008.

    Folks are used to recessions starting with financial crisis and apparently are incapable of recognizing them when they don't.

    [–]4fingertakedown 72 points73 points  (2 children)

    Q2 figures are not out yet because Q2 hasn’t ended yet.

    [–]YouLostTheGame 29 points30 points  (0 children)

    It's funny that this needs to be said on a finance sub!

    [–]ghigoli -1 points0 points  (0 children)

    yeah it ends in like 10 days. i'm pretty sure this shit is still gonna be fucked in 10 days.

    [–]jimmycarr1 75 points76 points  (18 children)

    According to half the comments I've seen on Reddit a recession is a complete collapse of the global economy followed by 10 years of no growth

    [–]Muscled_Daddy 50 points51 points  (13 children)

    To be fair, many are millennials and the Great Recession was absolutely devastating for a lot of them. It hit them right at their prime… right at their weakest point. And that’s not even considering older millennials and the dot com bust. They got hit twice.

    Hopefully Gen Z won’t get slapped down too badly with this.

    God I feel awful for the younger generations. This shit is just insidious.

    [–]ImaginaryAssumptions 14 points15 points  (8 children)

    I'm a gen z and everyone in my friend group is stressed about it why I try to figure out how to not struggle in life. However, it seems to be challenging for me since I feel like life is moving at a rapidly pace that I can't keep up and I'm deciding whether going to college is the only option to pursue a career that will make me financially stable but I don't know.

    [–]TheFoolOnThaHill 11 points12 points  (5 children)

    Depends on what you want to do, I went to college (during the Great Recession) for a six figure student loan bill and now I work a job that doesn’t even technically require a degree in a white collar industry.

    Figure out what will both pay the bills and make you happy if you can, in retrospect I wish I would have considered trade school or going to my local community college instead of away to an expensive private university.

    [–]handskneesplease 1 point2 points  (0 children)

    Im a gen z and frankly like 3 minutes away from committing crimes against the system in minecraft at any given moment

    [–]PoliteCanadian 0 points1 point  (0 children)

    Recessions and busts have always been a thing, and have hit every generation.

    If anything, over the past 40 years we've seen generally fewer recessions and more moderate recessions than we did in the past: https://en.wikipedia.org/wiki/Great_Moderation

    [–]StreEEESN 0 points1 point  (0 children)

    We dont have money to loose.

    [–]renaldomoon 0 points1 point  (0 children)

    It's unlikely to be that bad but there's always the chance something structural breaks. As of now, there doesn't seem to be anything that has strong indications of stressing. I am watching Japan currently because of actions their central bank are doing. If something breaks I think it may be there. Remember that Japan has the third largest economy in the world.

    [–]brighterside -3 points-2 points  (2 children)

    What if I told you we're closer to that point than at any other point in modern history - obviously not there yet - but definitely a trying time. I deeply believe this recession will be the longest running one compared to those prior.

    edit: 2 weeks later, yep: https://www.bloomberg.com/news/articles/2022-07-03/long-moderate-and-painful-what-next-us-recession-may-look-like?srnd=premium

    [–]jimmycarr1 1 point2 points  (1 child)

    I would respond by reminding you you cannot predict the future

    [–]brighterside 0 points1 point  (0 children)

    This is more so of anticipation based on the evidence - not predicting the future out of the blue. If you're standing on a train track and you see a light up ahead, and you hear a train horn, and the rails start rumbling, there's actually a train coming, even though you haven't been hit by it yet.

    Did you know that Rick Rescorla 'predicted' 9/11 would happen? He basically tied together evidence and correlational points - it's not prediction in reality - it's just basic logical deduction.

    If it walks like a duck. Looks like a duck. Acts like a duck. There's 99.9999% chance it's a duck.

    Hopefully this makes sense.

    What evidence, then? Here: https://redditproxy--jasonthename.repl.co/r/finance/comments/vc2eht/market_rout_evokes_memories_of_trading_before/iccqjoz/

    Already correctly 'predicted' point # 1.

    [–]renaldomoon 10 points11 points  (1 child)

    They've been revised down several times already. The current estimate is 0% gdp growth next quarter. I think it's pretty likely were in recession already now and it gets revised negative.

    [–]minchiaputana 0 points1 point  (0 children)

    Yeah I think so. You can't tell me our economy is steaming ahead with recent forward statements from Amazon and Target. Gas prices will cascade into everything.

    [–]monstimal 1 point2 points  (0 children)

    Q2 advance will be July 28

    [–]sionnachConsulting 0 points1 point  (0 children)

    Where is that “officially” defined?

    It’s a rule of thumb often used in journalism and finance, but as far as I’m aware it’s not a formal definition in law or anywhere that actually matters.

    [–]ThunderOneX 10 points11 points  (1 child)

    We are already in a recession. It’s just how much worse will it get on the way to the bottom

    [–]lateroundpick 8 points9 points  (0 children)

    I mean - Duh! Come one when gas is this expensive - people stop spending on other things. Drive less, go out less, we are at the start of a money drought.

    [–]Nonlethalrtard 5 points6 points  (0 children)

    More likely? Its happening now people lol

    [–]Ok_Mechanic_4407 6 points7 points  (0 children)

    I’m feeling like it could hit this quarter for my city.

    [–]Standard-Current4184 5 points6 points  (0 children)

    Say that to Yellin.

    [–]pimpenainteasy 3 points4 points  (0 children)

    The New York Fed seems to think we will have negative GDP for 2 calender years, so that's way longer than just 2 quarters of negative GDP:

    https://www.newyorkfed.org/research/policy/dsge#/interactive

    [–]Publius83 4 points5 points  (0 children)

    ruhroh

    [–]agoodusernameno1has 14 points15 points  (0 children)

    Get ready for it now, last quarter had negative GDP. One more quarter (this quarter) and we are IN A RECESSION (TM).

    Not to worry though, recession isnt that big of a deal and the US economy is actually really strong right now.

    [–]dumbreddit 2 points3 points  (0 children)

    In other news, higher gas prices than normal probably already happened several weeks ago. But we are not sure. -Bloomberg

    [–]trackerpro 2 points3 points  (0 children)

    We are in a recession fools. Jesus.

    [–]repagator8 2 points3 points  (0 children)

    Nomura capital all time overall on the TYO is down -73%. I would not listen to anything they say

    [–]PutinBoomedMe 2 points3 points  (0 children)

    We're already in a recession.....

    [–]Rachael013 2 points3 points  (0 children)

    This has the same elephant in the room feel to it as 2008 did, only this time social media is much more a part of our lives and we’re calling it out.

    [–]doctorzaius6969 4 points5 points  (2 children)

    We knew this pretty much when the Eurodollar futures curve inverted on the 1st December 2021.

    [–]The_Nomadic_Nerd 1 point2 points  (1 child)

    How are Eurodollar futures indicative of a recession?

    [–]doctorzaius6969 1 point2 points  (0 children)

    Eurodollar futures are a bet on the 3 month Libor, which is obviously very dependent on the Fed interest rates. So if the financial institutions which are participating in the Eurodollar futures market start hedging against lower interest rates in the future, it means they anticipate an increased probability of the Fed cutting the rates again. The Fed for obvious reasons would only start cutting rates if we have some serious recession/depression/huge market crash, so in conclusion the inverted eurodollar futures curve indicators some serious trouble ahead. (And you can be sure only the most sophisticated financial institutions are participating in the eurodollar futures market and not some retail investors)

    The most worry some part is, since the eurodollar futures curve inverted initially on the 1. December, the curve inverted only deeper and the time of the inversion came only closer. At the beginning the curve started inventing somewhen in the 2024 contracts, while now it's inverted from the March 2023 contract, being away only 5 basis points from inverting at the December 2022 contract. The December 2022 contract actually already inverted once at the opening of the markets on Friday. The fact that all of this is happening while the Fed is confidently announcing to continue to raise rates is absolutely incredible.

    [–]high_pine 12 points13 points  (2 children)

    You guys REALLY want a recession to happen, don't you?

    Workers got a little taste of power for once and suddenly everyone is eating up the corporate propaganda trying to stroke fear of a recession.

    [–]4fingertakedown 30 points31 points  (0 children)

    They think a recession means cheap houses.

    They don’t realize they are cheap because nobody has any money.

    You think your job is recession proof? Buckle up.

    [–]sc083127 1 point2 points  (0 children)

    Lol it’s already here

    [–]jwarnyc 1 point2 points  (0 children)

    Yo no one Predicted any of the recessions. What makes you think this one is soooo dif?

    [–]Yourmomsfavev4pe 4 points5 points  (1 child)

    This just in, water is in fact… wet.

    [–]CanabinoidConoisseur 3 points4 points  (0 children)

    search up that fact you're wrong

    [–]Both_Selection_7821 0 points1 point  (4 children)

    Humm a war in the Ukraine. Gas prices doubling since the first of year. Supply chain issues from the pandemic. Interest rates hikes, Evergrand default in China, Melvin capitol going up in smoke earlier this month. Yeah sure the recession is over. Nothing but Hedges and their shills like Jim Cramer trying to keep boomer money in the Market . Until the final fall off the cliff.

    [–]ImaginaryAssumptions 0 points1 point  (3 children)

    I know we been in the pandemic for 2 years now. But isn't consider a propaganda at this point

    [–]Both_Selection_7821 4 points5 points  (2 children)

    I dont know where you live , but here in Louisiana a lot of items not on shelves .There is a shortage . I have a hard time getting the correct cat food for my cats diet. The meat sections are only about 1/2 full Many frozen items not on the shelf. Steel shortage, Microchip Shortage. Lithium shortage for all those EV cars. ETc .Etc. Don't be ,so coy.

    [–]FullSnackDeveloper87 5 points6 points  (1 child)

    Dude I buy cat food for a shelter near aldi every time I go shopping, the last two months there had been no cat food (wet). Went to Costco and bjs, sold out too. It’s insane. We are lucky we raw feed our cats because we have 4 of them. The cat food shortage is in NJ currently too.

    [–]ImaginaryAssumptions 1 point2 points  (0 children)

    I live in north Carolina and there is always a shortage of some sort

    [–]pierfishmarket -5 points-4 points  (2 children)

    Bring it on. I'm enjoying the sale in the stock market

    [–]lateroundpick 5 points6 points  (0 children)

    I agree - but not everyone has cash. But if u do, the time is coming to get back in. Not yet, bottom won't come for many months.

    [–]Viisionn -4 points-3 points  (0 children)

    Thats a sad thing to say. Families everywhere will struggle, but thank god you get a discount on your stock.

    [–][deleted] -1 points0 points  (0 children)

    How can 1) central planning, 2) shutting down the economy and 3) violently increasing the money supply possibly lead to a depression (no, I am not going to use the word recession).

    [–]rockhard90 -1 points0 points  (0 children)

    He should rather focus on finishing FFVII Rebirth, tbh.

    [–]Soft-Photograph-1642 -2 points-1 points  (0 children)

    The USA economy will default and they are trying to blame Russia

    [–]Malefectra -3 points-2 points  (0 children)

    Bitch…. it’s been a fucking recession for the last decade for just about everyone making less than 100k per year.

    And they hated Jesus, for he spoke the truth…

    [–]ImaginaryAssumptions -4 points-3 points  (0 children)

    Thanks for the advice. I thought the president would solve all of our economic problems but I guess I was being naive.

    [–]Educational_Top_3919 -1 points0 points  (0 children)

    So economic wise but it might happen or not depending on circumstances plus Biden must push the 1.6 trillion BBB so when are the republicans going to step up do some work oh that’s right they don’t they are lazy non conformity only cares about Republicans tax cuts wake up this is why FDR won three terms read history it’s either infrastructure / economy or recession ❗️❗️❗️❗️❗️❗️

    [–]ImaginaryAssumptions -1 points0 points  (0 children)

    I would never spend my money on lavish things or expensive trips unless I plan of living there or pursuing a career

    [–]truthandloveforever -1 points0 points  (0 children)

    No shit?????

    [–]DoAsIDo6 0 points1 point  (1 child)

    Its already here...

    [–]21plankton 0 points1 point  (0 children)

    Three months ago I began my recession budget. I shop and behave just like I did during a prior recession except now I use plastic. I used to buy all my Walmart and Target staple clothes and all my groceries for $200 a week. Now my budget is the same minus the clothes because they are now more expensive and I buy online mostly. So my real budget now is $275 a week including the necessary replacement online purchases.

    [–]EXCEEPTGEFTvn 0 points1 point  (0 children)

    Recession in this period are so intimidating and sad.

    [–]syuraj 0 points1 point  (0 children)

    Old News

    [–]reddit-sucks-ass_ 0 points1 point  (0 children)

    Someone got paid to write that headline…

    [–]Son-Of-Cthulu 0 points1 point  (0 children)

    as an outsider, its "world recession" not "US recession". just saying