What's a Recessioon?
Ok, before I start explaining what a Recession is- two things.
1. I made RECESSIONISTA stickers on GIPHY! Add them to your Instagram stories by searching “Mrs Dow Jones”
2. Some of the most major companies of all time got their starts during recessions, including Uber and Airbnb. Through hardship comes innovation! Keep pushing on.
Ok so A RECESSION is when the economy follows the same trajectory as Amanda Bynes.
Remember in the late 90s/early 2000s? Amanda Bynes was in a bull market! Homegirl was killing it. She was all over TV and movies and you literally couldn’t go to the bathroom without imitating Amber from “The Girls Room.”
Yep, Amanda’s economy was BOOMING!
It was a time of:
- job creation
- low inflation
- stock market surges
- movies with Colin Firth
But then - Amanda entered a bear market. Her economy went into a recession!
A recession is when the economy of a region goes through a big decline over two back to back quarters.
This results in economic decline which affects a country’s:
- employment numbers
- business growth
- housing prices
- retail sales
- Twitter feeds
What causes an economic recession or an Amanda Bynes’s recession? Well - if I knew I would be even richer than I am now, (is that even possible?) but let’s just say - like with all things - hindsight is 20/20.
It’s easy now to see the signs now - Amanda was too famous, she was pigeon-holed into roles and she wasn't taking care of herself... it was a perfect storm of errors that happened around the same time. They were building and building and no one was really paying attention because they were all getting rich. This thirst for short-term profits often leads to poor decision making - both for Amanda Bynes and for the economy.
People were greedy to cash in on Amanda and didn’t weigh the risk. Amanda’s recession wiped out a decade’s worth of her hard work on Nickelodeon and in teen movies and changed the way the public will see her forever. This is what happens with economic recessions too. Even when things bounce back (Amanda is currently pregnant with her first baby) there’s skepticism on whether it deserves our trust (her parents are worried about her ability to be a mother and are fighting for custody of the child).
So yeah - you can’t tell when recessions are gonna happen or to WHO. But you CAN be prepared! Make sure you build up an emergency fund first and foremost. I think with COVID-19 especially, it’s become clear how important having a rainy day fund really is. Also - if you have debt, create a plan to pay it off! And if you’re investing - ALWAYS diversify your portfolio.
Ok, gotta go get a cheek piercing like Amanda but please don’t forget to subscribe and remember stay rich bitch.