—— 70% of Americans are worried about an imminent recession.——
Balderdash
70% of Americans don’t know what a recession is beyond the fact it is bad
The country was practically shut down for almost a year. And the government was after President Trump. And they stole the election and put a senile old man who gave no one any confidence.. And the grocery shelves were half empty. And the prices went up and up. Gas became expensive.
Housing prices that were high, are down. Eating out costs more. Everything costs more and more... job losses and the open border adds to all of the problems.
If we think it is not a recession... it is. Everything is out of kelter.. And anger and hate is worse... uncertainty brings on irritation.. and more.
That is because many Americans have never lived through a recession.
I am 59. I really do not recall the recession in the 1970s that was caused by lack of energy(the oil crisis).
I do not remember waiting in line to buy gasoline.
I do remember opening a money market account at Buffalo Savings Bank in 1981 and getting a small appliance as a thank you gift. Plus 15.5% interest rate. Merrill Lynch was offering 18% on their money market account at the time. I put some money in there too.
I do remember the savings and loan debacle. I remember because I bought my first house in 1989 for $125K. In the next 5 years I spent another $15K finishing it myself. I sold it in 1995 for $127K. Losing money on real estate has a lasting impression.
My father was born in 1916. My mom in 1926. My Dad told me stories of passing bread lines in Buffalo on the way to a farmers market. He always said that during the Depression that he was poor, but hey had enough food because he grew up on a farm. Same with mom. My father NEVER trusted the stock market. I guess that is what happens when you live through something like that. it sticks with you for the rest of your life.
The problem today is that most people have NEVER lived through hard times. They have never been hungry or had to do manual labor. They are soft.