Hacker News new | ask | show | jobs
by SpicyLemonZest 67 days ago
How old are you? I hate to pull rank on people, but if you're an American who wasn't yet on the job market in 2008, you've never experienced a sustained recession and don't understand the comparison you're drawing. A recession feels much worse than "things cost too much and the world kind of sucks", and workers are affected as much as businesses and CEOs are.
2 comments
georgemcbay 67 days ago
I'm an American who was on the job market in both 2008 and during the dotcom implosion and I'm still working in software development.

IMO we effectively are in a recession already (and have been for a while) as far as the real job market goes, the AI boom is only stopping it from showing up in stock market valuations, which is great if you're heavily invested in the stock market, but pretty meaningless if you're a laborer without assets, with debt, and trying to find a job.

Things can certainly get worse overall than they are now (and due to bad leadership, this seems inevitable), but when they do the delta between now and when we are in an official recession will be far greater felt by people who are currently being propped up by stock and home values than it will for the many people who are already struggling.

link
HappyHacker731 67 days ago
Just because it isn't as bad as 2008 yet doesn't mean we aren't in a recession. I would argue that we were also in a recession before the housing collapse actually hit. Economists will also tell you that the great recession ended in 2009 which I think we both know is bs. My point is that it's a nebulous term and the economy sucks right now despite a few companies keeping GDP artificially inflated.
link
SpicyLemonZest 67 days ago
I guess I'm not terribly interested in debating what exactly the term "recession" means or what the line is where it's fair to say the economy "sucks". If you think that the current state of the economy is as bad as we should expect, and it won't get worse if GDP stops rising, I'm confident you're wrong. But I don't know how to convince you of that unless you've experienced a recession in your working life.
link