Recessions

Other discussions not related to the Permanent Portfolio

Moderator: Global Moderator

Post Reply
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

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
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
europeanwizard
Executive Member
Executive Member
Posts: 171
Joined: Sun Jun 04, 2017 4:06 am
Location: The Netherlands, Europe

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.
User avatar
vnatale
Executive Member
Executive Member
Posts: 9423
Joined: Fri Apr 12, 2019 8:56 pm
Location: Massachusetts
Contact:

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
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
Kriegsspiel
Executive Member
Executive Member
Posts: 4052
Joined: Sun Sep 16, 2012 5:28 pm

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.
You there, Ephialtes. May you live forever.
Post Reply