Thread regarding Ford layoffs

How worried are you about recession?

Many companies all around are already feeling the effects of a probable recession and it's only going to get worse. I'd be lying if I said I wasn't worried. I do have some savings but if I'm cut and can't find a new job within six months (which is very possible in a recession), I will be in trouble. The worst part is that there's not much we can do but wait and see what's going to happen. I hate it.

| 1133 views | | 3 replies (last )
Post ID: @OP+1hnCT8HP

3 replies (most recent on top)

The time to act was Nov 2021 to Jan 2022. I'm a trader, stock charts is what I do on the side, so you can see what is coming weeks and months ahead of the event. Back in Jan, I moved all 401ks into short term interest bearing bond investments. While the world lost a nice chunk of their investments, we actually made a few pennies.

That said. If I was holding Ford, I would have sold around $24 or so. Warned family to do this at that price, to sell into overbought strength, they didn't, and they rode it down. I play the indexes up and down, and down is highly profitable. I work in the auto industry, but if I got laid off, unlikely, I'd play the market all day. Have a 98.xx% win rate, so it's always someone else's money put into my pocket. Should be able to whether most of anything.

The depression is coming. Those talking about recession just don't know. First was recession. Then they called it great recession. Next up is depression. Don't think that just because we might get a temporary reprieve, the decline is done. They want your 401k and investment money, and they're determined to create the environment that takes them from you. If you are a recent retire, all I can say is "I'm sorry for your loss. This one isn't coming back within your lifetime. It'll take one to two decades to recover from this fallout, and we've only just begun.

Post ID: @2qrw+1hnCT8HP

The recession is already here. You’re 3 months lateā€¦

Post ID: @1axa+1hnCT8HP

@OP. I hear you. I am not worried about the recession, because my house was paid off several years ago, allowing me to build up my funds. However, I am concerned for the rest of the country/world, as most people should be. If we get a huge recession, I believe FMC (and many other companies) would increase the rate of layoffs, and people would suffer.

I would recommend getting approved now for a line of credit. A recession can trigger a credit "crunch", and it would be harder to get a loan then. If you are really worried, you could even take the money now, even if you have to pay more interest later. Another thing to do is to try to reduce your monthly costs. If you have several vehicles in your household, this is the perfect time to sell some of them and reduce your obligations. Look critically at your investments, cash out the F stock and similar cr@p, and keep the good stock (even if lost some valuation) Again, these are generic recommendations and you should see if and how they apply to you.

Good luck!

Post ID: @1ytd+1hnCT8HP

Post a reply