A potential recession

[Guest]

There is talk of a recession coming. Providers, are you concerned? Do you have plans to adapt?

 

Clients, do you expect to change your hiring habits if the recession does happen?

[+ DrownedBoy]

There is certainly going to be a recession within 2 years (probably sooner). And that's just according to the financial firm I work at. When I worry about my job, I build up my savings. And unfortunately, the money I budget for RM is a luxury, not a necessity.

 

I know for a fact that I won't be hiring anyone who needs more than 300 in donations in a recession, and that includes Uber transportation.

 

During a recession, I get fewer (if any) bonuses or raises. I see no reason why escorts should be immune to supply and demand. It's already competitive enough.

 

Does anyone remember anything from the previous recession (2008)? Did clients cut back hiring, or did escorts drop their rates?

[+ keroscenefire]

I'm hoping because I work in education that I will still have a stable job during the recession. Usually it takes a couple years before the lack of property taxes coming in really hurts education funding. If it's a short recession, I don't expect too much of a problem, especially since I live in a city that still has a lot of people moving here. So if anything I might enjoy the hobby more, especially if rates go down on some of the escorts. If it's $300, I can really only see one escort a month, but if it goes down to $200, I could probably see two escorts a month instead.

[Mocha]

There is certainly going to be a recession within 2 years (probably sooner). And that's just according to the financial firm I work at. When I worry about my job, I build up my savings. And unfortunately, the money I budget for RM is a luxury, not a necessity.

 

I know for a fact that I won't be hiring anyone who needs more than 300 in donations in a recession, and that includes Uber transportation.

 

During a recession, I get fewer (if any) bonuses or raises. I see no reason why escorts should be immune to supply and demand. It's already competitive enough.

 

Does anyone remember anything from the previous recession (2008)? Did clients cut back hiring, or did escorts drop their rates?

 

I started in 2008. Things were better then, than they are now (in the big scheme of things). My very 1st client on Rentboy in Dallas offered me 220 (I didn’t know how much charge back then, so would occasionally ask clients how much they wanted to give me). And he was actually serious, unlike nowadays where someone says they will pay 250, and then the very next day claim they never made an appointment ??‍♂️

 

As far as I’m concerned: the industry is in a recession already. Between FOSTA and everyone with an iPhone becoming an escort, what’s a recession going to do that’s not already being done?

 

Then again, when you talk recession...that doesn’t mean all industries and all states will be affected equally. The 2008 recession hit tourist/housing destinations like Florida, Arizona and Nevada harder than others. But places like Texas, Denver, and others reliant on oil, tech and natural resources not so much.

[+ BenjaminNicholas]

The very rich are getting incredibly more rich at the moment.

 

This recession will hurt the middle-class most. The sky is not falling for a lot of escorts. Not yet.

[Milo Farnsworth]

If there's a Repugnican in office there will certainly be a recession.

[Mocha]

If there's a Repugnican in office there will certainly be a recession.

 

Well supposedly recessions are supposed to be necessary natural events. I’m not an economist, but it’s sort of like high tide/low tide.

 

No matter how much I read up on it though, I still don’t really understand what it is about a recession that is bad to the regular general public, besides job layoffs. In the last recession that was apparently so bad, there was nothing that really directly affected me. You hear about stocks, the housing market, etc. However I do know...some markets like Florida and Arizona were pretty shitty for the couple of years coming out of the recession. I had to postpone my 1st trip to Phoenix for a few months, back in 2012.

 

Even when they talk about places booming (Denver and North Dakota for example), sometimes I still don’t see any improvement, and sometimes things get worse because rents go up in the “booming economy”. I even had a friend who was laid off once gas prices went down...even though gas prices are suppose to help the economy. That’s another thing I get tired of hearing: gas prices low=bad. Gas price high=good. But who is actually benefiting from higher gas prices? The mofos who making a profit off of it?

 

I feel like the word recession needs to be better defined and not simply used as a big scary word like “Great Depression “.

[+ keroscenefire]

Well supposedly recessions are supposed to be necessary natural events. I’m not an economist, but it’s sort of like high tide/low tide.

 

No matter how much I read up on it though, I still don’t really understand what it is about a recession that is bad to the regular general public, besides job layoffs. In the last recession that was apparently so bad, there was nothing that really directly affected me. You hear about stocks, the housing market, etc. However I do know...some markets like Florida and Arizona were pretty shitty for the couple of years coming out of the recession. I had to postpone my 1st trip to Phoenix for a few months, back in 2012.

 

Even when they talk about places booming (Denver and North Dakota for example), sometimes I still don’t see any improvement, and sometimes things get worse because rents go up in the “booming economy”. I even had a friend who was laid off once gas prices went down...even though gas prices are suppose to help the economy. That’s another thing I get tired of hearing: gas prices low=bad. Gas price high=good. But who is actually benefiting from higher gas prices? The mofos who making a profit off of it?

 

I feel like the word recession needs to be better defined and not simply used as a big scary word like “Great Depression “.

 

Recession is a pretty specific economic term. It means a decline in GDP for two or more consecutive quarters. An economic depression is generally defined as an economic downturn (decline in GDP) for two years or more and/or a decline in GDP greater than 10 percent. The recession in 2007-2009 was the worst economic decline since the Great Depression but because it lasted slightly less than 2 years December 2007 to June 2009 and the GDP only dropped 4.6 percent in that time, it was considered a recession. (https://www.investopedia.com/terms/r/recession.asp)

 

I think generally you are right though..there are winners and losers to boom times and bust times. The gas thing is a great example. For many of us, low gas prices are great because it helps keep prices down generally because it lowers transportation costs across the board. But definitely it hurts energy companies and areas with a lot of oil production. And a recession could be great for those with stable jobs not affected by the recession because it could mean lower housing costs and maybe the opportunity to buy property when it is more affordable. Basically all my friends who own houses in Denver only have them because they were able to buy during the last recession. Very few would be able to afford a home in Denver today with their middle-class salaries.

[+ DrownedBoy]

I still don’t really understand what it is about a recession that is bad to the regular general public, besides job layoffs.

 

[Mocha]

Recession is a pretty specific economic term. It means a decline in GDP for two or more consecutive quarters. An economic depression is generally defined as an economic downturn (decline in GDP) for two years or more and/or a decline in GDP greater than 10 percent. The recession in 2007-2009 was the worst economic decline since the Great Depression but because it lasted slightly less than 2 years December 2007 to June 2009 and the GDP only dropped 4.6 percent in that time, it was considered a recession. (https://www.investopedia.com/terms/r/recession.asp)

 

I think generally you are right though..there are winners and losers to boom times and bust times. The gas thing is a great example. For many of us, low gas prices are great because it helps keep prices down generally because it lowers transportation costs across the board. But definitely it hurts energy companies and areas with a lot of oil production. And a recession could be great for those with stable jobs not affected by the recession because it could mean lower housing costs and maybe the opportunity to buy property when it is more affordable. Basically all my friends who own houses in Denver only have them because they were able to buy during the last recession. Very few would be able to afford a home in Denver today with their middle-class salaries.

 

And Denver is a good example of that: it’s more expensive now after the “boom” and more and more people are struggling to make it on their own there.