What's your recession plans??
- Thread starter appalachiatiger
- Start date
Add on to my house. I’ve got a recession proof job as a repairman working for a company with a mostly high end clientele so life is good. Of course I’m paying a few things down at an accelerated rate as a hedge if things get really bad but there’s a building boom around Keowee with many wealthy people moving here. It was the same in ‘08 and I barely felt that.
Top 10% won't even notice.
Those prepared will make a fortune.
The other 75% will surf the rough waters blaming uncle sam.
Begin to scour the market for discounted baseball cards. Should be some healthy price drops and bargains for those that are patient.
i'll probably have to sell my baseball cards to afford food. hope i can get a top price
The smart sharks are starting to circle....
That's kinda a truth.
If you don't struggle through a recession you are pretty smart.
If you struggle during a recession maybe you should re evaluate your intelligence level😂🤣
Probably save 30% on the supplies if you time it right, maybe up to 60-70%
Depends on how bad this gets, we are what 5-10% into it now.
They say 2-3 million will lose their jobs.
I'm buying stock in cheap old school liquors, toilet paper, and tissues.🤣
I’m shocked that we are only in year two of this current administration.
Seems like 20.
Seems like 20.
“The time to buy is when there is blood in the streets.” Patiently awaiting.
I remember this recession actually had the match lit on day 1 of Biden being in office when he decided that keeping energy prices within reach of the common American wasn't as important as pushing the environment angle.
Already paid off all my credit cards, waiting to make a car purchase until that market corrects a lot more. Just got a promotion in a field where a recession won’t affect income in a negative way. There will be a lot of people regretting their voting choices soon.
I’m doing the same for coins. I love panic sellers.
I am not sure a worsening economy is immediately around the corner. When all the "experts" and now the public have the same view, it is usually wrong or already discounted.
When Saylor told evryone to mortgage their house and buy $65K Bitcoin, that marked the top. When FTX and Genesis blew up and BTC held $16K, at least a tradable rally was likely.
So far the only major layoffs have been in tech, and that sector needed a reset. Twitter is doing just fine after Elon cut over half of the workforce. Jobs are still being added to the US economy overall.
Long term, I am skeptical that the Fed and Administration can pull us through, but things seem to have stabilized short term. There is always the possibility that geopolitical events escalate.
When Saylor told evryone to mortgage their house and buy $65K Bitcoin, that marked the top. When FTX and Genesis blew up and BTC held $16K, at least a tradable rally was likely.
So far the only major layoffs have been in tech, and that sector needed a reset. Twitter is doing just fine after Elon cut over half of the workforce. Jobs are still being added to the US economy overall.
Long term, I am skeptical that the Fed and Administration can pull us through, but things seem to have stabilized short term. There is always the possibility that geopolitical events escalate.
Mass Layoffs in 2022 & 2023: What's Next for Employees?
Layoffs 2022 & 2023: Companies like Disney, Amazon, Google & Microsoft saw layoffs this year. Learn about mass layoffs & what to do if it happens to you.
mondo.com
The fed is tried to remove cash from the system.
So every decision they make henceforth will be to head in that direction.
Like I said, the layoffs have been mainly in big tech which needed a reset. You failed to quote that part of my post.Mass Layoffs in 2022 & 2023: What's Next for Employees?
Layoffs 2022 & 2023: Companies like Disney, Amazon, Google & Microsoft saw layoffs this year. Learn about mass layoffs & what to do if it happens to you.
My point is that things may not get significantly worse in the short term like most people seem to think, although that is certainly possible. If more broad-based job cuts happen it will get ugly as much debt as people are carrying. A period of just prolonged slow growth is also possible.
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I follow a guy on YouTube Mark Moss, he recently said that risk assists was a good determiner of when the Fed will stop hiking rates and it looks like it might be that time, although unemployment numbers remains low so wages probably still going up for us working class slobs lol. I got 10% last year as I work for a very kind man who gave the whole company 10% to combat inflation. I tell yah finding the right company in the right industry makes all the difference in the world.
My personal retirement plan is to be debt free before age 70 and acquire some rental property and use my renovating/hvac skills to generate retirement income on top of my meager 401k and SocSec ck.
