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Well we've been at the beginning stages of a recession for a while. It's like we're fouling with less than a minute to go down by 20. No point to foul but you do it to keep morale high and hopes alive. Who knows, maybe we will be able to get out with going into a full blown recession.
Some argue that we are already in a recession. That maybe so but I haven't seen effects of it here in my county or city yet. There's over 200 jobs in the classifieds now and usually there's only 75% of that. I haven't heard of any friends or family being laid off besides people that were in the real estate industry. Our real estate market was inflated before the big fiasco. Homes that were bought 2 years ago for 125k were going for 300k plus.
I went off topic there, sorry. I haven't been hit by a recession personally. It can hit the working class and lower to mid-middle class first and harder than other classes as they are more likely to live pay check to pay check so any increase or disruption can cause problems.
Are we in a recession now? I don't think you could say it's nationwide but definitely in some areas you can see a recession or the characteristics of one but is it enough to effect the overall GDP or make a real negative economic growth. I think if we don't do something quick, everyone will soon see the effects of it though besides those that have a ton of money. Not just the working class or middle class. Those that aren't rich but above the middle class could see some changes in their life style if they're not ready. But is it affecting enough people in the country to be called a recession? I guess so. And how long has the problem been going on? I thought recession traits had to be there for 2 consecutive quarters to be a recession.
My line of work, I'm lucky. Doesn't matter about recession. Businesses need utilities to conduct their business so they pay their bills. People need their utilities to stay warm, take hot showers, cook, etc so they pay their bills. So I'm not affected as much as other industries, like hotels, mom and pop stores that thrive on tourism, etc.
Any ideas on how to turn it around?
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