Recessions

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vnatale
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Recessions

Post by vnatale » Mon Aug 31, 2020 7:29 pm

Good history of recessions....

Vinny

Gauging The Next Recession’s Severity

https://www.fa-mag.com/news/gauging-the ... 44979.html
"I only regret that I have but one lap to give to my cats."
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europeanwizard
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Re: Recessions

Post by europeanwizard » Tue Sep 01, 2020 12:47 am

That's a good one, and certainly puts things in perspective.

What I always found weird, is that it may never really concern you. A couple of years ago, I quit my job and started subcontracting in IT. Before I started however, I asked experienced freelancers: "how hard were you hit in the 2009 recession".

I had to rephrase that, and ask "do you know other freelancers who didn't have a project in 2009"? People knew at most one other freelancer who didn't have a project for up to three months.

In a recession, there are whole parts of the industry that simply don't notice anything (teachers, government, semi-government), some that notice a little bit (tech freelancers) and some that get hit hard (like the hospitality sector right now). It's completely lobsided, and back then, it was a bit of a revelation to me.
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Re: Recessions

Post by vnatale » Tue Sep 01, 2020 7:31 am

europeanwizard wrote:
Tue Sep 01, 2020 12:47 am
That's a good one, and certainly puts things in perspective.

What I always found weird, is that it may never really concern you. A couple of years ago, I quit my job and started subcontracting in IT. Before I started however, I asked experienced freelancers: "how hard were you hit in the 2009 recession".

I had to rephrase that, and ask "do you know other freelancers who didn't have a project in 2009"? People knew at most one other freelancer who didn't have a project for up to three months.

In a recession, there are whole parts of the industry that simply don't notice anything (teachers, government, semi-government), some that notice a little bit (tech freelancers) and some that get hit hard (like the hospitality sector right now). It's completely lobsided, and back then, it was a bit of a revelation to me.
So true!

Vinny
"I only regret that I have but one lap to give to my cats."
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Kriegsspiel
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Re: Recessions

Post by Kriegsspiel » Tue Sep 01, 2020 5:10 pm

europeanwizard wrote:
Tue Sep 01, 2020 12:47 am
What I always found weird, is that it may never really concern you. A couple of years ago, I quit my job and started subcontracting in IT. Before I started however, I asked experienced freelancers: "how hard were you hit in the 2009 recession".

I had to rephrase that, and ask "do you know other freelancers who didn't have a project in 2009"? People knew at most one other freelancer who didn't have a project for up to three months.

In a recession, there are whole parts of the industry that simply don't notice anything (teachers, government, semi-government), some that notice a little bit (tech freelancers) and some that get hit hard (like the hospitality sector right now). It's completely lobsided, and back then, it was a bit of a revelation to me.
I've found I also really like the "contracting" flow of working on something for a while, with an end date, and then finding another thing to do after a period of chilling out.
I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. Who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. . . Nothing is better for a man than to eat and drink and enjoy his work.
- Ecclesiastes
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