Recession Rich

外汇网2021-06-19 16:16:17 71

A slang term used to describe an inpidual who manages to do well financially, relative to broader population, during a recession. Someone that is recession rich does not necessarily need to be considered wealthy, but rather has managed to maintain a good standard of living during a time when others worry about their financial stability.

Coined during the financial crisis of 2008-2009, the term was most commonly used in social circles to describe someone from the same socioeconomic class who was enjoying financial success relative to his or her peers. Some examples of a recession rich inpidual would be someone who buys a luxury vehicle during an economic downturn, or an inpidual who spends disposable income freely rather than safe guarding his or her money.

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