First, let me explain how a country gets to a recession.
Sometimes, when a country builds up too much debt, the country's politicians will basically say "fuck it" and literally print money to cover their debt. For example, Germany did this after World War 1, because they were the losers of the war and they owed money to a lot of people - so much money was printed that German currency became nearly worthless, a loaf of bread would be bought with a stack of near-useless cash. Eventually, Hitler came along, and fixed the German economy, until the start of World War 2.
The United States has been printing too much money for a long time, going all the way back to George W. Bush in the year 2001. President Bill Clinton was the last United States President to be in charge, when the United States had a
surplus, meaning that the country had made more money than debt that it had built up. In the year 2001, Bill Clinton's second term ended and George W. Bush became President.
In 2001, the September 11th attacks happened, and the United States went to war - and this 20-year "War on Terror" cost American taxpayers $8 trillion, according to an article released by Brown.edu last year.
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Obama and Trump were just puppets, Obama was more of a corporate-asshole, Trump was more of a Jew-lover-asshole. Obama made the debt worse, and Trump made the debt worse. The pandemic really made the economy/debt worse, stimulus payments just helped Americans pay off their credit cards. And finally now we have Joe Biden in office, and he is basically just Obama's "third-term".
A recession is declared when the economy of a country sees its Gross Domestic Product (the total amount of money all the stuff it creates is worth) shrink six months in a row. The data came out on the economy of the United States, and everyone can see that the United States is in a recession. So now, rich people and banks will be more nervous to spend and lend their money.
- Interest rates will go up - Chad and Stacy want to buy their first house, so they go to the bank for a home loan. Chad is shocked to realize that he can't afford to make the payments on a home loan, because interest rates are so high that the couple can't afford to make the payments unless Stacy starts recording on OnlyFans.
- Harder to start a business - Chad wants to open up a surf shop, he is going to have to pay a higher interest rate on his business loan. Chad is nervous, because he already has to pay higher prices to buy surfboards because inflation has caused prices to rise, and now he finds out that he is going to have higher utility (water, electricity, trash) bills also.
- Military is not affected - Many people don't realize that the United States military is not affected by the economic cycle. Inflation leading to recession is not new, it has happened before, and it is referred to as the "economic cycle". The military still gets paid no matter how bad things get, civilians could be starving and homeless in the streets - yet the American military will still be getting paid. This leads to social unrest, that is one reason the government is so afraid of angry young men.
Those are the biggest things in my opinion that people will notice, young men not in the military always feel the effects of a bad economy the worst - they don't have a stable source of income, even if they have jobs - they could be laid-off at any time unlike military service members.
