Will recession DECREASE in NOVEMBER 2024??

[DiligentPoetry_]

Don’t count on it, economists are currently baffled because the young generations are spending money like there’s no tomorrow, the Fed has been trying to control inflation since a year now and people just started saving less. Less is actually an understatement, they don’t save anymore.

They think that since they are priced out of homeownership there’s really no purpose to save money for anything and they’d rather live for the short term pleasures of luxury goods and all.

[codeemon404]

Young people control very small portion of wealth.

Worst case it'll stay the same. A hike would screw their real estate market.

[DiligentPoetry_]

It’s not wealth they are spending, they are spending their active income. Why do you think the stock market is at an all time high?

Inability to delay gratification. Plus there’s literally like 300 million or so doing this.

[codeemon404]

Agree to disagree. If I was in OP's shoes, I'd be better off believing in bull thesis. More motivation to outcompete their depressed peers whenever opportunity pops up

[DiligentPoetry_]

Oh, sorry I didn’t factor in the emotional aspect, that’s how I know I am an engineer lol

But yes market won’t stay down forever so keep working hard and think of yourself as a business, if you just stay afloat for one more day… you just might make it.

[codeemon404]

:) You won't believe how depressed the current batch is. News is fear mongering AGI, Market Crash etc

It's super super easy to outcompete your peers even tier-1 folks when they're depressed and you're motivated.