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Message
re: The Next Recession Will Destroy Millennials
Posted on 8/27/19 at 7:51 am to OleWarSkuleAlum
Posted on 8/27/19 at 7:51 am to OleWarSkuleAlum
I'd be more concerned about being in extreme debt during a recession.
The prolonged 0% interest rates encouraged people to load up on credit rather than save.
Now when a recession hits and these people lose their jobs in debt, that'll be bad.
The prolonged 0% interest rates encouraged people to load up on credit rather than save.
Now when a recession hits and these people lose their jobs in debt, that'll be bad.
2
Posted on 8/27/19 at 7:53 am to BurningHeart
quote:
Now when a recession hits and these people lose their jobs in debt, that'll be bad.
No we’ll be good we will just do like Europe and go to negative rates.
Posted on 8/27/19 at 8:57 am to BurningHeart
quote:
I'd be more concerned about being in extreme debt during a recession. The prolonged 0% interest rates encouraged people to load up on credit rather than save. Now when a recession hits and these people lose their jobs in debt, that'll be bad.
Our firm's reports show the exact opposite. Overall consumer debt is lower now than pre-2008. Granted it doesn't show by age bracket, but the next recession will be mild compared to 2008.
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