Submitted by OhNoNoNoAveMaria t3_zwn5pg in wallstreetbets
I don't know about you guys, but I'm fucking broke. Kept trying to catch falling knives for an entire year straight, getting screwed every 3-6 weeks anticipating a turn around. And the stocks that I held are down between 40-70% which is insane. Yet somehow, my cost of living feels like it's 20% more than previous years. Food is expensive, my energy bill is expensive, all of it.
Also, there are mass lay offs. I have some friends who work in FAANG and it seems like the big tech companies have halted internal travel allowances, enacted massive cut backs on other spending, and are also laying off tons of people (which apparently isn't being reported in the news).
We got used to an insane bullrun and I think reality is sinking back in. We're in a proxy war with Russia, there's an energy crisis and deep recession in Europe. Even China is unstable with it's housing collapse. What I'm getting at is that there's no money to even go into the stock market... which is kind of the point of the fed raising interest rates like this.
I feel like the recession is actually starting right now.