dudes way out of touch with reality like most of those people

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It is coming and will affect everyone. I can see it here already and you will see it there if you just look. Retail will be down along with stock movement as there will be a surplus. Government workers will never say there is a recession as they are the least effected. People would have booked holidays months ago so don't be fooled about no accommodation.

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Very interesting approach to this case. In my opinion, we may in a really not long time be strongly surprised if the actual recession starts. The question now is only whether with this event there will be a situation in which housing prices and wages will go completely crazy or whether we can expect a completely different type of recession.


!1UP


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For now, the signs of a recession are still muted. If people believe the situation to "be under control" and temporary there is likely little adjustment to their daily lives.
Once realisation kicks in that this is not temporary but something they need to cope with over a longer period of time, then the adjustments will become more noticeable.
My parents are now in their early-to-mid 80s and inflation is already beginning to eat into their daily expenditure. And this is before the announced increases (at least doubling) in energy costs over the winter.
Businesses are facing a six-fold increase in electricity costs in the next few months. People will notice this and make adjustments.

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I think, possibly, it is because it is expected that if the USA suffers financially, that other countries will also feel the suffering as a result of dependence on the dollar. This may be true in the aggregate. However, it does not always directly translate to the individual consumer who does not have to deal in dollars. 

Obviously, this does not hold true for all countries. However, perhaps Romania is not so dollar dependent as other countries in Europe. I don't have any data to back up this thinking. 

Alternatively, we may learn from the experience of Ernest Hemingway with regards to going bankrupt. He said that he lost everything slowly at first, then all at once. So, the economy may be experiencing something similar. 

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Neel Kashkari works for the government. Government workers are the very last people to feel the effects of a recession.

!WINE

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