How would a Recession affect your LRH spending?

[Jon Bischof]

It would shut down my LRH spending almost completely. I am in a lower middle class income bracket. I would probably still shoot some long range, but it would be testing for hunting only and be really stingy with the ammo. All other hunting related spending would come to a halt. I am getting new all terrain tires for my truck this week. Hopefully, that will be my last big expense for a while, but I am not naive enough to believe that is true. Unexpected expenses will come this Winter; probably just about the time the recession kicks in fully.

 

[HockeyDad]

It wouldn't

In the words of the best president ever, Ronald Reagan, "'Recession is when your neighbor loses his job. Depression is when you lose yours..."

And to continue his quote in a paraphrase, "...And recovery is when Joe Biden loses his.'

Now a depression would affect my shooting sports spending quite substantially.

 

[Darryle]

I am in a comfortable spot, but a recession would probably hit me and the wife pretty hard just because of the industries we are in.

We live fairly comfortable and easily maintainable home lives, it's the hobbies we pursue that really cost us.

 

[bsnyder]

I would say somewhere in between 25 and 50'percent. I'll still shoot but the building of guns and the nrl hunters would slow down.

 

[epags]

Your survey is flawed. Does not allow for no change.

 

[Jon Bischof]

Recession isn't only your neighbor's unemployment or even your own unemployment, it is the economic effect of all that unemployment and inflation on what you can afford. We have already seen the Federal Reserve's response to inflation: Raising interest rates. This will bring much investment borrowing to a halt. That will result in layoffs. Products will become scarce and therefore inflation will increase. Energy costs are certain to go up and along with them everything that is shipped by fuel.

 

[Jon Bischof]

Your survey is flawed. Does not allow for no change.

If there is no change, my survey is irrelevant. But it seems the only constant is constant change. We would all be blessed if you are right and things don't change. I hope you are right. But it is a wise saying: Hope for the best, prepare for the worst.

Also consider that the word "would" is a subjunctive; that is, it may or may not happen. I am with you in hoping it doesn't.

 

[Mark37082]

I'm in the recession is already here camp. The low unemployment rate is the only thing that is keeping the official announcement from being made. I will probably slow down the spending, but I've been saying that for the past year at least to my wife. Probably will put off the next custom build, but there are too many temptations on this forum.

 

[shortgrass]

It will depend on how long and how 'deep' the recession is.

 

[epags]

If there is no change, my survey is irrelevant. But it seems the only constant is constant change. We would all be blessed if you are right and things don't change. I hope you are right. But it is a wise saying: Hope for the best, prepare for the worst.

Also consider that the word "would" is a subjunctive; that is, it may or may not happen. I am with you in hoping it doesn't.

I must not have made myself clear: 'no change' mean 'no (0) cut in spending' as a choice in your survey.
And FWIW, a 'recession' is defined as "a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters" vs a depression - "In economics, a depression is commonly defined as an extreme recession that lasts three or more years or which leads to a decline in real gross domestic product (GDP) of at least 10%. in a given year. Depressions are relatively less frequent than milder recessions, and tend to be accompanied by high unemployment and low inflation."

 

[Whiskey_Tango]

My spending would greatly increase. I would be buying up all the deep discounted gear. Cash heavy and hoping to score some deals.

 

[JimFromTN]

I could not imagine a recession being any worse on LRH than the last 3 years or so. It does not matter how much money you have if you can't get reloading components and ammunition. Shutting down the world economy for a year has been far worse than any recession. Its the major cause of the recession now. Its felt like we have been in a recession since 2019 maybe even further back because of all of the trade war nonsense.

 

[mongo4567]

Assuming I am not directly impacted with layoff or the like... I would also have a choice for increased spending in the survey. I've gotten some very nice gear at a discount during down turns in the past.

 

[Taylorbok]

I'm also in the camp it would likely increase my spending. Shooting and hunting is actually one of my cheaper hobbies so if I was hit hard enough by recession spending needed to be cut I would likely be cutting in other areas that would allow more time for hunting and shooting which would increase spending in that area slightly.