Recession of 2020? It’s actually a Great Depression

[Pimp]

10 years of economic growth doesn’t happen in American history

A recession is bound to happen

Master of the obvious .

 

[Pressure]

 

[NkrumahWasRight Is Wrong]

I’m worried about Europe. The European debt crisis still hasn’t been resolved. Can’t Europe survive another recession? Italy is already fukked. If that debt explodes the euro is done and shyt could have a major cascading effect.

Italians dont really give a fukk though honestly. Give them their wine cheese and prosciutto and theyre straight

 

[NY's #1 Draft Pick]

You brehs got me scared in here. Any advice?

 

[phcitywarrior]

You brehs got me scared in here. Any advice?

Get your skills up. Start saving your cash aggressively and pay off your debts if you can. Cut frivilous expenses and hold off on any large purchases until you have your financial foothold.

The thing about this inversion is that it’s kind of like a self fufilling prophecy. People hear there’s gonna be a recession so they cut spending and businesses contract and then the economy starts to stagnate.

Hence why you hear, let’s not “talk ourselves into a recession” from large scale investors.

You still got time. Usually a recession has followed the 2&10 bond yield inversion in about 18-24 months. Stack now while things are still good.

The big lesson is to prep your nest egg early, when the sun is still shinning so to speak.

It’s good to know that if worse came to worse, you have 6 months worth of expenses to weather the storm while still hustling for income.

From what I’ve seen there are 3 categories of people in a recession

1. People who are prepared and profit off the low asset prices.

2. People who are relatively unscathed but don’t really profit (no cash on hand, marginal portfolio loss/gain)

3. People who are hit bad (lose jobs, substantial loss in investments, bankruptcy etc).

You don’t have to be 1, but do not be 3.

 

[NY's #1 Draft Pick]

Get your skills up. Start saving your cash aggressively and pay off your debts if you can. Cut frivilous expenses and hold off on any large purchases until you have your financial foothold.

The thing about this inversion is that it’s kind of like a self fufilling prophecy. People here there’s a recession so they cut spending and businesses contract and then the economy starts to stagnate.

Hence why you hear, let’s not “talk ourselves into a recession” from large scale investors.

You still got time. Usually a recession has followed the 2&10 inversion in about 18-24 months. Stack now while things are still good.

The big lesson is to prep your nest egg early, when the sun is still shinning so to speak.

It’s good to know that if worse came to worse, you have 6 months worth of expenses to weather the storm while still hustling for income.

From what I’ve seen there are 3 categories of people in a recession

1. People who are prepared and profit off the low asset prices.

2. People who are relativey unscathed but don’t really profit (no cash on hand, marginal portfolio loss/gain)

3. People who are hit bad (lose jobs, substantial loss in investments, bankruptcy etc).

You don’t have to be 1, but do not be 3.

Well I don’t have much debt. Just paid off my car and bought a house in January. And when you mean save do you mean save cash in hand or in a bank account because I save money every month. My only frivolous expenses are usually travel.

 

[phcitywarrior]

Well I don’t have much debt. Just paid off my car and bought a house in January. And when you mean save do you mean save cash in hand or in a bank account because I save money every month. My only frivolous expenses are usually travel.

Either or. Cash on hand or in the bank. Point is you want to be liquid

 

[FAH1223]

Get your skills up. Start saving your cash aggressively and pay off your debts if you can. Cut frivilous expenses and hold off on any large purchases until you have your financial foothold.

The thing about this inversion is that it’s kind of like a self fufilling prophecy. People here there’s a recession so they cut spending and businesses contract and then the economy starts to stagnate.

Hence why you hear, let’s not “talk ourselves into a recession” from large scale investors.

You still got time. Usually a recession has followed the 2&10 inversion in about 18-24 months. Stack now while things are still good.

The big lesson is to prep your nest egg early, when the sun is still shinning so to speak.

It’s good to know that if worse came to worse, you have 6 months worth of expenses to weather the storm while still hustling for income.

From what I’ve seen there are 3 categories of people in a recession

1. People who are prepared and profit off the low asset prices.

2. People who are relativey unscathed but don’t really profit (no cash on hand, marginal portfolio loss/gain)

3. People who are hit bad (lose jobs, substantial loss in investments, bankruptcy etc).

You don’t have to be 1, but do not be 3.

Last financial crisis, I remember people migrating to the DC Area from the midwest like clockwork... when the economy recovered many people left cause real estate got way more expensive. It'll be interesting to see what happens here with real estate. PG County MD got hit hard in the last crash and people still haven't recovered all the way back on home prices in some spots. I'm with my family and we're renting this Ethiopian guy's house and want to buy it but he's trippin on pricing and if the recession hits early next year... he gonna be looking kinda funny in the light

 

[Wargames]

I don’t think there will be a dramatic bubble pop this time. I think the air is just going to slowly leave the balloon.

The unemployment won’t dramatically go up cause many people are working two jobs already. The gig economy won’t reflect in the numbers.

Plus the census is going to add about a million jobs to the economy next summer. This won’t be felt by the average American until a dem is in office again.

 

[Consigliere]

Recessions are kind of built into the system on a 7-11 year cycle.

We're either due for one or in one now.

From 2016.



You can’t time the market but you can get close.

 

[Mook]

I don’t think there will be a dramatic bubble pop this time. I think the air is just going to slowly leave the balloon.

The unemployment won’t dramatically go up cause many people are working two jobs already. The gig economy won’t reflect in the numbers.

You're taking no facts into account to make this prediction

 

[greenvale]

Auto industry is gonna take a huge L, same for some of the financial industries... I work for a Big 4 so we will eat once the inevitable compliance regulation comes out of this again

 

[Json]

You're taking no facts into account to make this prediction

Did I say I was?

I just see everyone trying to predict based on past recessions but we've been going through unprecedented growth. So it's possible the next recession won't look like the others.

 

[phcitywarrior]

Well I don’t have much debt. Just paid off my car and bought a house in January. And when you mean save do you mean save cash in hand or in a bank account because I save money every month. My only frivolous expenses are usually travel.

This is good. If you save say, 10%, it might be time to up that to 20%. I'm like you in that I don't have big expenses outside of social activities (bars, parties) and travel. Both are pretty easy to cut back on.

You bought a house so I'd say stack heavily. Idk what industry you're in, but losing a job with a newly bought house would be tough.

 

[Wild self]

Its like a thunderstorm approaching from the horizon, that has louder and louder sounds of thunder and now you see the lightning strike the ground.

This is gonna be a very ugly ride.