Originally Posted by dubfam
IDK if I would call what is happening right now "normal"
My opinion is that all of our lives will change drastically over the next few years.
For people who think it will all be okay...WHY do you think that? (I know some of you have elaborated but many haven't)
I personally can't imagine how we will somehow come out of this mess unscathed. Call me a pessimist but I really feel like the more optimistic posts are coming from the "That could NEVER
happen in AMERICA" perspective.
Everything that is happening right now points to some sort of economic disaster IMO
I would LOVE for someone to talk me out of thinking this way...but so far the facts seem to look pretty grim
This is where I am at. On a gut level I *feel* nuts. But when I look around, the facts just don't add up to a quick recovery, a shallow recession, or any of the other "best case" scenarios out there.
I am comfortable with numbers. I have my masters and with a concentration in financial management. The numbers on this mess just don't add up to a shallow, brief recession to me.
I know I am more of a "bear" than most, especially my age. I was still young during the crash of '87, but my step dad lost his job. Same for the recession in 01', and after a couple of years being unemployed he is only working part-time now. I certainly worry for my parents ability to find and keep work right now. For them, economic downturns have always meant job loss, instability, issues with food security, and a stressful homelife.
I grew up not so well off living with my grandmother who was a teen/early adult during the Depression. Her frugality definitely shaped my views on debt and money. Make do, repair, save, don't spend if you don't have to.
I was a married, investing adult by the tech bubble.
Maybe how we each perceive the current economic mess is rooted less in age (young or old) and more in how much or how little we each have to lose, how tenuous our family incomes are, and what kind of life experiences we have with major life changes stemming from economic recessions?