As title states, how are you guys preparing for Trump Recession? Obviously I won’t be spending as much and I already live frugal. I would still like some advice if possible though
100 years later, we are going through another major tariff crisis after strong economic growth period which will lead to a recession =)
the most truest words: “Those who cannot remember the past are condemned to repeat it”
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As title states, how are you guys preparing for Trump Recession? Obviously I won’t be spending as much and I already live frugal. I would still like some advice if possible though
100 years later, we are going through another major tariff crisis after strong economic growth period which will lead to a recession =)
the most truest words: “Those who cannot remember the past are condemned to repeat it”
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Bookmarking depression era recipes. Library by here so I’m sure they’ll have more info. PSA the most valuable thing is going to be free access to a library.
First and foremost, stocking up on Irish whiskey before the stores have to restock.
I hope you sold some stocks already. Still time to lock in gains from the past decade.
Not an American, but I would get a passport yesterday.
About as well as I can. Daughter going to daycare at the end of this month and its looking like I need to jump ship at my job to get a new one.
Pretty stressful tbh. At least my wife and I live below our means and can survive a bit if I can’t find a job right away.
Going to expand the garden and start canning stuff. Produce is gonna go crazy between the lack of farm workers and the tariffs.
Just got into cooking with dried beans. No joke, people take it seriously and it’s way cheaper.
Otherwise, I’m not really. I might go buy a couple extra soaps and accelerate my next toilet paper delivery. But I already don’t spend more than I need to really. I pick produce based on weekly sales. I thrift my clothes.
I’m vegetarian so worst case I could start growing some stuff on my balcony.
Outside of rent, NYC can be cheap and fun so my expenses are low. I do a lot of free and low cost things.
I do wonder how it will impact our farmers market prices.
I’m expecting to see a push for us to eat soybean products because we produce far more than we eat in the US and send most of it to Asia.
I do have a relatively solid familial safety net, but I actually am concerned. I just bought a home and my industry is notoriously fickle (airlines) so even though I make a good income I’m very, very weary of furloughs in an industry downtown and subsequently being saddled with my payment. Luckily its very within my means and less than my rent was, but I’m still concerned.
We decided to make a car purchase a bit earlier than we wanted.
Other than that, I don’t know what we can do. We don’t live beyond our means generally.
By not cheering for America’s downfall
Getting our passports and we bit the bullet and bought a new (to us) car.
I just think it’s kind of hilarious that Trump supporters kept saying “Trump is best for the economy” and now he’s going to nosedive our country into a recession. Literally the one thing Trump supporters could justify by voting for him was the economy. They could exuse his misogyny, race-baiting and fascism tendencies by saying “but he’ll be better for the economy”. And now look at where we are. 😬 Sucks that we have to nosedive with the rest of the MAGAts.😒
I’m not. How do you prepare? Just be flexible to whatever comes your way.
Preparation is just externalizing anxiety.
I’m not buying shit. I already mostly eat rice and beans so I’ll just keep that up. Idk what else to do… I can’t stock up years worth of food. This economy isn’t getting better anytime soon.
buying emergency food supplies and lots of ammo.
if the food runs out, then the ammo starts getting spent. Let’s hope we don’t get to that point.
Not making any big purchases, hoarding money…
Which, of course, is what will help fuel a recession, but fuck all y’all. 😀
Buying the dip in the market
It’s not going to be a Trump recession. It’s going to be a Trump depression.
The long term consequences of this are much worse than anyone realizes.
Doing whatever I can to be a good worker and not be expendable.
Sold all stocks and bought bonds. I’m thinking I should’ve bought gold.
We started preparing last year. Specifically buying/replacing old appliances (fridge, dishwasher) before looming tariffs. And otherwise getting our money in order. Luckily we’re in California, and our state is big enough to help weather most of it. But as a teacher, I’m also seeing devastating and hurtful cuts to education that I can’t do anything about. Things that make the kids’ lives and experience worse, for no discernable reason.
Moved most of my retirement into a money market back in January. In hindsight I should have moved all of it.
Tbh, as a Canadian… I’m slightly relieved that we seem to not be on the list
I feel for ya’ll though :S
Buying weed and praying it gets worse (which it will) so trump gets ousted. He won because people voted for their racist, sexist, Christian evangelical beliefs and their wallets – he’s really fucking up by doing this. Hopefully rural areas continue to get turbo fucked and they realize “hey, this guy isn’t god he’s actually abusing us…huh…”
Dude is literally a terrorist siding with Russia, North Korea, and China. He is ruining world relationships with every, single, one of our allies. Anyone who supports him supports and wants an authoritarian government since it benefits them – going out to protest.
I enlarged my garden for this year. It was already something I planned to do, but I added quite a bit more than I had originally planned. The cost of food is already crazy high and I’m hoping that I can produce enough to make a difference in our grocery budget.
I also bought a pressure canner. I’ve been making do with freezing and boiling water canning for years, but I figure this is a good time to up my game.
Trying to convince my partner to let me take over part of the side yard for veggies as well – we’ll see how that goes. 🙂
I expected this, so I invested most of my money in stocks that I believe will survive an unstable American market. Anyone looking to invest should also consider the possibility that we might have another pandemic at some point.
This is going to be much much worse. We’re burning bridges with the tariffs. It’s not going to be about paying more for things until we get a new leader to take the tariffs away. Before then, our trading partners will have made stronger ties with others, cutting us out as much as possible. Wouldn’t you? I know when I used to buy weed, I wouldn’t go back to the dealer that jerked me around. I’d go without weed before going through their bs again
Honestly. An actual recession while imo is likely is less likely immediately and more likely when these tariffs actually start to result in consumer habits changing and the reaction to that. It’s still months away probably. It’s likely to be a stagflation situation where unemployment goes up and so does inflation. Trump will do a massive tax cut to stimulate the economy which will just make things worse and there is likely going to be a showdown with the Trump administration and the Fed, likely resulting in stocks slipping and bad federal policy one way or another which will just make things worse. This will hopefully lead to a wipeout for Republicans in the midterms and a curtailing or presidential power…I hope. We also have to consider the geopolitical situation that will arise out of this, countries may take advantage of the US weakness or be dealing with their own upheaval and act rashly leading to conflicts globally and it’s hard to predict Trump’s reaction to all of that.
Also this will be a global recession, as an American I apologize in advance, I didn’t want this. Anyway I am just hoping I make it to the otherside of this financially and emotionally intact and hope that eventually cooler heads will prevail and get though this. Although things will likely never be the same again after the next four years.
I don’t really understand why people don’t get that Trump is very clearly TRYING to tank the economies of the US, Canada, and the EU. Every economist on earth knows that tariffs will badly hurt everyone. It’s not a case of people not studying the past and thus being doomed to repeat it. It’s a case of knowing exactly what the effects of massive tariffs will be and doing it on purpose because Putin wants to destroy western democracy as we know it. Note that Russia didn’t get any of the tariffs that other countries did.
Expanding my garden.. I mean I was doing that anyway but this is speeding up the process…. and still looking for a close to msrp gpu……. fucking scalpers
Cajun here, South Louisiana. The boat is ready, and I have access to more waterways and fishing, and hunting grounds than anywhere else in North America. My ancestors survived off the land down here for generations. Hope it doesn’t come to that, but we’ll survive.
I’ve upgraded/replaced what can be replaced at home. I’ve cut expenses where they can be cut and I’m basically buckled in for the turbulence that I expect to come from these very stupid decisions. There isn’t much to do but brace in the meantime.
It’s incredible how many 16 year old economists and future tellers there are on Reddit.
Since the election, I stopped all spending except for groceries and gas. I will probably still have a job during the recession, but having extra cash sitting around will be nice as a lot of people will be selling things cheaply in order to pay their bills.
I’ve built my life around the future depression.
I have a job that seems to always have need with seniority: teaching
Bought house with cash, no debts.
Retirement investing built on long-term index funds. Perfect time to be buying stocks is a depression
I already live frugally. All i really need is food and I cook for myself
Only thing im worried about is my 12 year old car
Just keep going to work and saving money, maybe eat out less. That’s pretty much all I can do.
Selling my house to move in with a friend who’s recently divorced and struggling to pay the mortgage he took over on his own. Start saving as much as I can so social security being cut doesn’t affect me as much. Less nights in the city. Less dates with the girlfriend. Essentially less of everything.
I have been prepping for this shit show since 11/6/24
*My husband and I bought new cars last year (My lease was up and his was 8 yrs old with almost 220k in miles) We cancelled our Amazon accounts and are not shopping at Target. We buy in bulk at Costco and have been freezing and storing food.
*We also started to grow our own vegetables and I am going to start to get into canning.
*I learned how to sew in High School so if needed I could make our clothes
*We updated all all passports / global entry and REAL IDs
*I have the basic necessities in solar charging and other “electrical” support and have stocked up on medicine and first aid kits. We even took a first aid class last year to be able to handle the basics.
*I have spent the last few months purchasing critical history books on all a broad range of topics as well as educational books on the constitution. I have also obtained books on how to make your own food staples / and store them.
*I never changed my last name so all my documents match my birth certificate (PSA – women who have changed your name when you got married – I STRONGLY SUGGEST YOU START THE PROCESS TO CHANGE IT BACK)
*And the one prep that honestly breaks my heart. We will be obtaining firearm training this month as well as the items that go with it.
Stocking up on consumables: paper products and storable food.
Cancelling a planned vacation and living with our half renovated bathrooms for the foreseeable future. Spending as little as possible.
I’m not planning for a recession. I’m planning for a depression worse than the 2008 recession. There’s no reason to believe the madness is over, or that things will return to normal when it is over. It will continue to get worse until Republicans decide they’ve had enough of Trump’s capricious and chaotic actions.
What I’m doing: paying down debt, saving money, selling stocks, developing better relationships with neighbors, and planning my garden to maximize vegetable production. I’m also cutting out Trump voters and apologists from my friendship circles, as I don’t need them harming my life anymore than they have. I’ve found they only take away from my life anyway, they are each parasitic in their own way. That was an eye opener when I sat back, observed them, and thought about our interactions over the years. His supporters are a legitimate threat as individuals in our own lives
I’m already struggling to pay rent on my apartment, and since I’m a Lyft driver my job is entirely based on other people having the money to use Lyft and there not being a glut of other Lyft drivers.
I’m kind of fucked, and there’s not much I can really do about it. As the economy gets worse more people will likely try out gig work and rideshare to make ends meet, increasing driver supply and therefore further lowering the amount of riders I get. I live in a college town, and if Trump defunds universities or targets students then the local economy goes belly-up too.
And I just signed another 1-year lease because I already had the cheapest apartment I could find. So I guess if shit gets real bad real fast it’s either 10-12 hour workdays to make what I used to earn in 6-8 or move in with my dad.
I don’t feel so bad about not contributing to my retirement account last year
What sucks is I just got a raise. I was finally happy to have no debt (except student loans which don’t count), but I had to have an MRI, so $1200 more, but at least with no interest rate.
I’m planning on going out a little less, and outside of that, I was planning on starting a savings, but if inflation gets high enough, right before deflation starts (and hopefully not before hyper deflation if Trump gets his will and can fire Jerome Powell), I may need to forgoe that.