After reading this news story that half of Americans are skipping meals because of affordability and a bad economy, I have to ask how are you all doing out there?
I heard from a real estate agent friend of mine that REOs, i.e. bank foreclosures on home mortgages, are going up like crazy, which is a sign of bad times, like the recession of 2007-08.
I have heard from others about rents not being paid, lack of jobs, etc.
Every day, there’s more news of corporate layoffs, moreso than usual.
I live in the economic bubble of the SF Bay Area, where tech wealth more-or-less insulates me and mine from the most serious consequences of a bad economy, but how are things elsewhere?
It’s going to be much worse than 2008 when the AI bubble pops. Most of the economy is in a recession that’s getting worse every day. But spending on AI is propping up the rest of the economy. Once that house of cards crashes down we’re going to be in a world of shit.
No, don’t be silly. Lemmy has assured me many times that the “economy” and stock market are only for rich people and trillions of AI dollars going poof will have no effect on them.