COVID Reason • 535 implied HN points • 10 Oct 24
- The global economy is in a full-blown recession, not just a minor slowdown. Signs like credit card shutdowns and a weak job market clearly show the situation is serious.
- Declining consumer confidence is a big red flag. People are feeling uncertain, which affects how much they spend and can worsen the economic crisis.
- This recession isn’t just affecting one place; it’s happening worldwide. Countries like China and Japan are facing similar struggles, indicating a synchronized economic downturn.