We aren’t.
2 Likes
I think that’s an unfair assessment.
In the last 6 months the average Joe has experienced:
20% increase in rent
100% increase in gas
40% increase in food
15% increase for car insurance
So if you assume an average rent of $1,200, that is a $240 increase.
If you assume monthly average gas consumption at $150, that is a $150 increase.
If you assume an average of $500 a month for food, that is a $200 increase.
And figure an average $20 a month increase for car insurance.
That is $610 a month that this person wasn’t spending for these same things 6 months ago.
For a person who makes $30,000 a year they have lost 25% of their discretionary income.
For a person who makes $50,000 a year they have lost 15% of their discretionary income.
These income ranges encompass 50% of America.
Now ask yourself, if you lost 15-25% of your discretionary income over the course of 6 MONTHS, did you buy comics you couldn’t afford?
3 Likes
Do you have sources for all these stats?
But also, a recession is defined as: " A recession is a period of declining economic performance across an entire economy that lasts for several months."
Forbes describes it as: “A recession is a significant decline in economic activity that lasts for months or even years. Experts declare a recession when a nation’s economy experiences negative gross domestic product (GDP), rising levels of unemployment, falling retail sales, and contracting measures of income and manufacturing for an extended period of time.”
The rise in cost of goods does not make a recession. We have to continue seeing poor economic performance. We have to see stocks and investments continue downward. That’s why we’re not yet in a full recession but seeing the beginning of one.
1 Like
We’ll see whose right in the next GDP report. We already reported negative growth last quarter. I think we will again in the next one. I think we’re already in a recession just not officially.
1 Like
Here’s my advice to anyone with investments… comics you want to sell, etc:
2 Likes
Here’s stats for gas:
Gas Station Price Charts - Local & National Historical Average Trends - GasBuddy.com
Here’s stats for rent:
National Median Monthly Rent Hits $2,000 For First Time (therealdeal.com)
2 Likes
2 Likes
On the downside, comic books prices will be going up…
i dont think this downturn will last long, as soon as an outcome to ukraine/russia war is made clear things will settle down
1 Like
I personally believe all comics, including “investment-worthy comics,” will go down while people unload to free up some cash for the next year. But, after that unloading takes place, I think they’ll go significantly up. I think “investment-worthy comics” will ultimately be a hedge for inflation.
A really good indicator for us comic guys is: Global Art Market Continues Breaking Records As Auction Activity Heats Up (yahoo.com)
Additionally, I don’t think this will be anything like 2008. 2008 was broad, it impacted everyone. The situation we’re in now impacts people differently depending on their level of income.
If you make a 100k a year that $610 a month in extra expenses doesn’t rob you of all of your discretionary income. You can still afford discretionary things.
1 Like
Recession is categorized by 2 consecutive quarters of negative GDP. So far we’ve had one, so not technically a recession yet
3 Likes
Not technically, no. But you don’t “technically” know if you’re in a recession until you’re 6 months into it. I’m saying that I think we already are.
1 Like
When you look around, what indicators make you think that we’re not?
1 Like
I’m disappointed. All of you jumped on me for saying that we’re already in a recession and I ask why you think we’re not and crickets…
Do you guys think that this second quarter that we’re currently in is going to be positive or negative? And, why?
1 Like
Some of us have lives outside of CHU and it’s forums…
3 Likes
I said what the term recession actually means, I didn’t say anything else as I don’t particularly feel like getting into a pointless argument about the economy on a comics forum that will end up just boiling down to political talking points.
My take is there will be good buying opportunities for key issues soon.
2 Likes
None of the economic professionals and market analysts are saying we are in a recession right now.
They are all predicting by the end of the year or beginning of 2023.
Well to help get back on track with the OP’s original question. I’m fortunate to still have a decent job so I’m still buying at the same pace as before.
2 Likes
They all predicted “transitory inflation” as well. Every single sector is contracting except for energy.
In my opinion, you’re in month 5 of a recession. Time will soon tell.