Comfy Mindset

Credit card debt just surpassed $1 trillion for the first time.

Interest rates are at their 16-year highs.

And shrinkflation is ensuring that you pay more while getting less every time you go to the store.

Almost a year ago, I wrote an article titled Bear Market Hot Takes You Won’t Get Anywhere Else. In it, I made three predictions:

1. Online businesses would suffer — A recession would harm content creators, authors, musicians, Ecom sellers, etc… As the general public cuts back on spending, it means less money for consumer discretionary goods (like eBooks and Etsy art). Ad rates and streaming royalties also suffer, because big corporations cutback on marketing, and platforms like Spotify and Netflix lose subscribers.
2. Survivalist and religious content sees a resurgence — Zombie movies always do well during times of civil unrest and economic uncertainty. And people often turn to religion (or religion proxies) when the going gets tough.
3. Discount on luxury goods and quality businesses — Shoes that cost $600 are expensive. Shoes that cost 12 monthly payments of $50 are cheap. High interest rates eliminate creative financing. And the mass affluent luxury market should see a steep decline. Likewise, a sell-off in the stock market means high-quality companies go on sale. Giving you some lifechanging…