• eek2121@lemmy.world
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    10 months ago

    This could be another indicator that we are going into recession. I did not read the article (because who does that? 🤣) but when you look at rising credit card debt combined with the mass layoffs, it usually means folks are on their last legs, financially speaking.

    That is assuming there actually is a problem with higher credit card debt and the topic is ‘t being sensationalized, of course.

    Another indicator to watch out for is falling revenue in earnings reports. Falling revenue, particularly in retail and consumer goods spaces means recession is inbound.

    I firmly believe that, absent some additional support, we will enter a recession within 2 years.

    Note: I don’t claim to be an economist, but I am old and I have lived through a few of these downturns.