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Two things to consider. Wealth and income.
Income. I don't think a 90/91 or 01 style recessions would hurt our business much. I think an 80/82 style one would. We haven't seen anything yet. All ratios seem the same and so on. If I had to guess I'd think something worse than 90 or 01 but not as bad as 80/82 but who knows. Many possibilities and future events will still determine the course. Consumer spending is notoriously difficult to predict. Sometimes when the consensus is that the consumer should be down they spend and vice versa.
My housing value and investments are already down. Investments holding up pretty well though. Lots of gas and oil stock to balance the shit going on elsewhere. Hopefully I've made the right moves in the markets to capitalize on the lower equity prices. Could end up even better than without a recession. But the value of my house is down something like 20% off peak.
There are dangers. There are also MANY opportunities. A long deep recessions might bring firesale prices to local businesses whose owners can't weather the storm. There are already beaten down equity prices which are probably great deals. Housing presents (certainly risky) opportunities.
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