Recently President Biden said that a recession is not inevitable. The way that he worded his statement has caused confusion as to what’s happening in America.
The best advice I can share is to pay attention to the obvious. If you don’t like to watch or read the news on a regular basis, check in on the economy at least once a month. Especially now so that you aren’t surprised at the price increases that are across the board.
Things are about to get REAL here in America and across the globe. And I say this not to scare anyone but because I’m a realist.
Most of what is happening is completely out of our hands but the unusual is about to become the norm. I’ll try not to be too opinionated but I will start to share more based on economic trends and published data.
June will be here in a couple of days and here’s what to expect the rest of 2022:
Gas prices will continue to surge higher, and many Americans will be shocked by how high they eventually go.
Food prices will continue to rise.
The Federal Reserve is likely to continue to aggressively raise interest rates.
Higher interest rates will be devastating for the housing market in the United States.
As the economy slows down, we should expect layoffs to increase and jobless claims will eventually start to spike.
Stock prices will continue to fall.
A recession is either already here or will arrive soon. We will see a historic economic meltdown so it’s important to prepare for it mentally and financially.
When most people apply for a job it is based on credentials (qualifications), and the pay rate offered. Which makes total sense. But it’s very common for that excitement of having a new job to disappear sooner than expected.
You get in the door and you realize:
There is a glass ceiling.
The position is more (or less) work than explained.
You start taking work home; thinking dreadfully about work after hours, replaying conversations between yourself and coworkers, tossing and turning at night because you don’t want to go in.
These examples may be spot on, or they may be exaggerated depending on your personal situation. But one thing is for certain more and more people are leaving their jobs with what has been called the “Great Resignation.”