This is the first recession I can remember living through. I don't remember 2008 at all since I was a kid and NZ was barely affected by it.
This is a much worse recession than 2008, but in my day to day life, nothing has changed for me. Things feel exactly the same. The economy might have shrunk 20%, but life seems to still go on. Nothing has disappeared because of it. The things I know are still here, the surroundings I know have stayed mostly the same.
I've always had an expectation that the atmosphere and feeling in a recession would be different. Things feel absolutely normal for me. The only change has been on charts and paper. It hasn't made any difference to me if the economy was $300 billion or $250 billion now.
Reading back on the news on previous recessions, you get a feel of a dire situation. You read that buildings are boarded up. You read that there is a visible increase in homelessness. You read that kids go to school without shoes. You see people in destroyed attire. There is just supposed to be a general negative atmosphere in society. At least that is the impression I've had from reading the news previously. Currently I'm just not seeing any of that. That isn't to say that it isn't happening. It just doesn't seem widespread and/or a national catastrophe.
Am I just talking too soon or just naive? I just had a different expectation but things feel exactly the same to me.
I have noticed a marked increase in people begging at traffic lights.