Tough times are ahead in Biden's economy. Here's your recession checklist
Signs that the US economy is heading into a recession are all around us and its time to prepare
By Michael Davis FOXBusiness
If you haven’t been paying much attention to the small army of economists droning on about the threat of a recession, that’s OK. It’s summer. It’s hot. Nobody, not even me, one of those economists, wants to dig through the mountain of boring economic data detailing things like consumer confidence and retail inventories. But the warning signs are there. Nobody can know for sure but it seems very likely that sometime before the end of the year the economy is going to get worse. Maybe much worse.
And of course, there’s nothing you can do to prevent a recession. Why worry about things you can’t change?
But remember you have more control than you might think. You can’t stop it from coming but you can prepare. What that preparation will look like for you depends on where you are in life, there is no single to-do list that makes sense for everybody. Still, as you get ready for what is likely to happen here there are three kinds of things that matter. Let’s review.
1. Start with your job. If you don’t have one, get one. If you do have a job, make sure you’re doing it well.
Despite all the signs showing that the economy slipping towards a recession, the jobs market is still strong. We added 372,000 new jobs in June. You have more control than ever. Employers are desperate to hire the right people. That will not last. If—or should I say when?—companies see business slip away, they will announce hiring freezes. If—or should I say when?—that isn’t enough, there will be layoffs.
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https://www.foxbusiness.com/markets/tough-times-ahead-bidens-economy-recession-checklist
