America is in a recession. Get Ready for the Great Recession, DIY and car review Scotty Kilmer. How the recession will affect car prices. Should I buy a car during the recession. The truth about the coming recession. Why car prices will fall during the recession. Car advice. DIY car repair with Scotty Kilmer, an auto mechanic for the last 55 years.
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Title: Brace Yourself: America is About to Find Out the Recession Just Got 10x Worse
Introduction
The United States has been reeling from the devastating effects of the COVID-19 pandemic for the past year, with millions of Americans losing their jobs, businesses shutting down, and the overall economy taking a massive hit. Just when we thought things couldn’t get any worse, recent indicators suggest that America is about to experience the recession on a whole new level, raising concerns about the long-term impact and recovery prospects.
1. Unemployment Soars to Unprecedented Levels
The pandemic-induced recession had already pushed unemployment rates to record highs, but recent data shows an even bleaker picture. As businesses struggle to operate and consumer demand continues to plummet, the job market has taken another hit. Tens of thousands of workers are being laid off or furloughed across various sectors, exacerbating the already dire employment situation. With every passing week, the number of jobless claims continues to rise, indicating a worsening recession.
2. Business Closures and Bankruptcy on the Rise
Small businesses, often the backbone of the American economy, have been particularly hard hit by the pandemic. Many have been forced to shutter their operations permanently, unable to survive the prolonged economic downturn. Major companies, too, have faced financial turmoil, with several high-profile bankruptcies making headlines. This wave of closures and bankruptcy filings will have a ripple effect on the economy, leading to further job losses and a decline in consumer confidence.
3. Decrease in Consumer Spending
Consumer spending, a crucial component of economic growth, has witnessed a sharp decline in recent months. The fear and uncertainty surrounding the pandemic have prompted individuals and households to tighten their purse strings, leading to reduced spending on non-essential goods and services. This decline in consumption has a profound impact on businesses, further fueling the vicious cycle of job losses and business closures.
4. Implications for Financial Markets
The recession’s intensified blow has not spared the stock market. Investors, panicking over the uncertain economic outlook, have seen market volatility soar, with wild swings in stock prices. The value of retirement accounts, investments, and savings have taken a hit, causing widespread anxiety among Americans. Such financial insecurity only adds to the already mounting economic woes, exacerbating the recession’s impact.
5. Long-Term Recovery Challenges
The pandemic-induced recession has not only been deeper, but it also presents a greater challenge for recovery. The road to economic revival is marked by uncertainty, geopolitical tensions, and the need for substantial government intervention. Stimulus packages and monetary policy adjustments can provide temporary relief, but a sustainable and long-term recovery requires structural reforms, investment in job creation, and a focus on rebuilding damaged sectors.
Conclusion
As the United States begins to grapple with the revelation that the recession just got ten times worse, it is imperative to acknowledge the severity of the situation. The COVID-19 pandemic has torn apart the nation’s social and economic fabric, leaving behind a trail of job losses, business closures, and financial hardships. While the path to recovery may be long and arduous, it is crucial for policymakers, businesses, and individuals to come together and work towards a resilient and inclusive economic future. Only by understanding and addressing the depth of the recession can we hope to rebuild a stronger, more vibrant America.
Terrible News: https://youtu.be/YFiA8d9M5X0
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Oboso said the economy would not progress ever until Trump took office. End of story
According to Dave Ramsey, there is not recession.
Sir, Scotty great show, evs home is the grave.
Say what you want, but I have only needed to fill up 1 to 2 times per month with my Highlander Platinum Hybrid.
It truly gets the avg 36 they claim. On most days, i will get between 45 and 57 mpg on my way into work. Love my Hybrid.
Thank you for the information. Question: I'm low budget what's the best car to buy?
Noooooo the economy is fine. -CNN
47,000 with interest. You're not paying less for a toyota cross. my credit score is 770. That car is in demand. So your gonna pay what they want. someone else will pay for it. We walked straight out of the dealership.
THANKS BRANDON!
Electric cars are overrated af and tbh I don’t even trust them
I wonder if you tried Scotty hands up if he could still talk
There are so many electric cars in arizona, probably 20% in some areas. There are so many now that you don't even realize are electric.
People can fast. Will cure qanonism
Read:
Fruit from a poisonous tree.
There were extra reasons they blew up the steel works in Ukraine. One was that it was owned by the oligarch that owns Zelenski and the other was that they wanted to slow steel production close to Europe. Obviously the entire thing goes much deeper like the Russians wanting to build a port, the war over who will mine all the lithium there and general access to Crimea for Russia and the terminal for the new silk road coming soon!
My friend bought a brand new VW van in England UK. He has been waiting over a year and it will be next year they say. At the same time they are taking millions of cars off of the road around London due to new restrictions, but you can't get a new car that complies because of the wait. It's all a plan to make excuses for shortages. the rest of the world has money now, more people than ever with money so more than ever is being consumed around the world. Scarcity is driving price up. It's the grande finale to the entire globalism thing. Too many people consuming too much, thats a fact.
Tesla is partnering with Ford for their charging stations. Are there more spots being added? It won't be long before you have to wait for days to recharge your EV.
No recession still
Monetary system , metals system is based on labor,products, services, a exchange transfer equality & fairness, there in a rat race with oil & propane supply, if anything hybrids are the future can't get better than that,, everyone wants trucks for reliability less maintence ,work all in one
Petro dollar is dead. We are F ed
Algorithm
Preach it Scotty!
I mean they will likely hammer gas prices so hard that we'll be begging for electric vehicles… That's how they work. You think you don't want it, but when you see those gas prices you will!
If Scotty says it's broken, it's broken.
stick to cars you dont know what your talking about
America’s welfare system is holding up the economy.
I bought a Prius in 07 and hybrid Avalon in 15, love them, but I drive like a grandma. Both get about 42 mpg….Ive not had any issues, but had to replace hybrid battery in Prius after about 100,000 miles costs about $3,000, still one of the best cars Ive ever bought…..gonna keep both for awhile longer
Thanks for the info on standard and automatic transmission
It's the Agenda planned years ago. Look how easy 1 million migrants crossed our border. Look how same migrants live in a $500 a day hotel room @ The Row NYC. 3 Free meals daily, free health care, free Uber rides, free clothes. And our homeless problems in America. And America obviously don't care bout our own people. But migrants have a red carpet welcome. Walk down my road 7/24 hours a day me & neighbors our pitbulls will stop you quick there's 6 total running freely one way in no one gets out.
People complain about starbucks but then spend a fortune on the maintenance of their villa or mercedes benz… makes no sense to me…
Great video
Once on the highway, I saw some guy totally asleep behind the wheel of a self-driving electric vehicle. Sorry, but I'm just not that trusting of anything.
Wow that picture of the empty shelf is what has to happen before shelf is moved sorry bub
I love getting financial info froma car guru lol