# 😳 The Great Recession of 2024

**URL:** <https://community.clark.com/t/the-great-recession-of-2024/4848>\
**Category:** Uncategorized\
**Created:** [April 4, 2024, 6:24pm UTC](https://community.clark.com/t/the-great-recession-of-2024/4848 "2024-04-04T18:24:43Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![H200h](https://avatars.discourse-cdn.com/v4/letter/h/e79b87/32.png) [@H200h](https://community.clark.com/u/H200h)\
**Post date:** [April 4, 2024, 6:24pm UTC](https://community.clark.com/t/the-great-recession-of-2024/4848/1 "2024-04-04T18:24:43Z")

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Where did it go? What happened to it?

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**Author:** ![billinin](https://avatars.discourse-cdn.com/v4/letter/b/47e85d/32.png) [@billinin](https://community.clark.com/u/billinin)\
**Post date:** [April 4, 2024, 7:27pm UTC](https://community.clark.com/t/the-great-recession-of-2024/4848/2 "2024-04-04T19:27:45Z")

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> [@H200h](#):
>
> What happened to it?

Until Americans can’t borrow it probably won’t happen.

> **[Americans Reducing Retirement Savings and Taking on Debt Due to Inflation |...](https://www.allianzlife.com/about/newsroom/2024-Press-Releases/Americans-Reducing-Retirement-Savings-and-Taking-on-Debt-Due-to-Inflation)**
>
> Allianz Life study finds ongoing inflation is hampering Americans ability to prepare for their financial future, but many are optimistic inflation will subside.

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**Author:** ![butler](https://avatars.discourse-cdn.com/v4/letter/b/ac91a4/32.png) [@butler](https://community.clark.com/u/butler)\
**Post date:** [April 4, 2024, 9:11pm UTC](https://community.clark.com/t/the-great-recession-of-2024/4848/3 "2024-04-04T21:11:10Z")

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It would be the first time in history that the Inverted Yield Curve did not correctly forecast one.

But as @billinin mentioned…people are borrowing up to their eyeballs to maintain their standard of living. They may be able to keep it up for awhile longer…but in a higher interest rate environment its not going to end well.

(one of many articles)

> **[Americans owe a record $1.1 trillion in credit card debt, straining budgets](https://www.cbsnews.com/news/credit-card-debt-record-high/)**
>
> Credit card debt hit a record $1.13 trillion at the end of 2023, while delinquencies have surged more than 50% from a year ago.