> If I lose my entire fortune and life savings tomorrow, I'll be fine. I'll flip burgers, deliver pizza or wash cars if I have to
I only have a limited understanding of economics, but I have a feeling that you may be misunderstanding dynamics at play during a recession. If I get it right people would stop spending money for non-essential things, so no more burgers, pizza delivery, car washing, spending on hobby’s, holidays, etc. Jobs with lower wages and ones with lower requirements are likely to be the most impacted. Add to this that more people are desperate looking for anything to get some form of income, you’re now competing with way more people for your burger flipping position.
Doesn’t sound like a great plan. But again, I may be completely incorrect here.
Yup. I had the misfortune of being in Michigan, unemployed, at a particularly bad time. I applied to about 30-40 gas stations, movie theaters, fast food places... Everywhere I went I was told the same thing, "I'm required by law to give you this application form, but we're not going to hire you. Good luck." I didn't know anybody and couldn't get a job cleaning floors let alone flipping burgers.
unfortunately it does take time but eventually those not paying you, me, us all, they stop making money by sitting on it, then they have no choice but to spend
I only have a limited understanding of economics, but I have a feeling that you may be misunderstanding dynamics at play during a recession. If I get it right people would stop spending money for non-essential things, so no more burgers, pizza delivery, car washing, spending on hobby’s, holidays, etc. Jobs with lower wages and ones with lower requirements are likely to be the most impacted. Add to this that more people are desperate looking for anything to get some form of income, you’re now competing with way more people for your burger flipping position.
Doesn’t sound like a great plan. But again, I may be completely incorrect here.