Get Ready: The 2023 Recession Will Be Unlike Anything We've Ever Seen (Food & Student Debt Crisis)

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[lindsay]

Anyone blaming 17-year-olds for doing exactly what they were told to do by society and middle class parents/teachers/communities (going to University) in the only way that was accessible to them should maybe consider why it costs the same for a public education as it does to purchase a small house. I worked overnights all thru college and it only covered a small portion of my 1/3 share of an apartment, maintenance and gas for my old used car needed at my second hustle (early version of post mates), a portion of moderately healthy groceries, and basically no social life. What I couldn’t cover from a job and a side gig plus tuition was covered by loans. All while fully enrolled w/ a loaded class schedule and hours of homework. Maybe look at the system taking advantage of teenagers.

[Casey-summer]

The only thing you can do is make sure you're ready and plan accordingly because recessions are a natural part of the economic cycle. I began my career during a recession (2009). Aerial acrobatics on cruise ships was my first job out of college. I've developed my own business, am a vice president at a large corporation, own three rental homes, invest in stocks and businesses, and have seen a growth in my net worth of two million dollars over the past four years.

[scottarmstrong]

Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency.
With a decreasing ability to control inflation and a reduction in stock and oil trading, it seems that a new multilateral world order is on the horizon.

[loveandjoy]

I paid my student loans off during the pandemic ($62, 000) because I thought that 0% interest was as good as it was going to get. I’m glad I did. I did not apply for a refund because that would put me back into student loan debt if the Republican Supreme Court strikes it down. I’m 100% consumer debt free ( no car notes, no credit cards debt, etc) and I want to stay that way. I can now build up my savings. Debt free life feels better even with inflation. 🤷🏽‍♀️

[billhicks]

Its gonna hit a point when people stop caring about paying back debts and say fuck it and there will be nobody there to enforce it.

[patriciacarlos]

This recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.

[Shineynsparkles]

Stop it

We have bailed out banks
We have bailed out airlines
We bailed out trains
We have bailed out whole sectors in medicine to tech

We can fix the student loan crisis
But will we actually get there ???

[edenlittle]

You know when thrift shops and other 2nd hand shopping is getting too expensive, we in a crisis.

[Hellocali]

I don’t see a recession imo, restaurants packed and shopping centers so packed I can’t even find a parking space

[snowballandpals]

The article about the cars featured a guy with 4 kids and a mom with 5 kids lol. I swear it's the most irresponsible people having the most kids.

[mathewtosh]

College tuition’s have been in a state of hyperinflation since the 80s if you compare it to the actual rate of inflation.

[AjaySensei]

The recession has been here for almost a year. Longer for the tech sector.

[glittermeaway]

So taking out student loans is an example of bad choices? What is the alternative? Not go to college if you can’t pay for it even though the job you want requires it and not going to college statistically handicaps you in your lifetime earning potential? This country is ridiculous

[lindsay]

I remember as an employed teenager making $6 a hour looking at new cars on a lot one day to kill time and thinking anyone paying that much just to lose tons of value when they drive off the lot was, frankly, a sucker. That was like the early 2000s and the only thing under 20k was a Pontiac Vibe & this was a lot filled with Jeeps, Fords, and Chevys, not Mercedes. Don’t try to convince me new cars haven’t been a luxury purchase until now.

[jesseniaguevara]

Paid off my student loan during the pandemic thank goodness I did I can’t imagine having to worry about that now

[samanthachildress]

I’m sick of the shit rolling down hill and we’re all just eating it, continuing to blame ourselves as if the problem didn’t start at the top hundreds of years ago.

[LLJIJI]

Always amazed by the amount of different data you're capable of finding. The rest of us that don't dedicate that amount of time to it really appreciate it! You're doing god's work here.

[schwarz-unmw]

My job offers free college education, and I am so lucky to have that benefit.

[dominicabollig]

Yes! I haven't had my doomsday fix for awhile. Great content!

[Robertgriffinne]

In my opinion, the remedy to weather this recession and high inflation is short-term trading, as opposed to long-term, most folks using these techniques are netting a ton of gains, sure the risks are higher but yet again isn't the current market equally as risky?