So I was just wondering how the 'recession' is hitting everybody around the world. I'm getting kicked out of my house, so I'm definately feeling it. I was kind of curious if it's affecting the EDM scene much. Opinions?

I am not really an economics expert so I can't say for sure, but it seems the recession could make it a LOT harder for up and coming DJ/producers like a lot of us here who want to get signed to a label and make a name. 

Or maybe people may want to buy more trance or house music, since the recession has brought a LOT of hardship among people and those people may want a temporary escape from their troubles, so they get their hands on and play a trance record.

The recession could affect the EDM world in tons of ways.  These are just ones I could think off the top of my head atm.

Myself,  I am feeling the ripples of the recession myself in a number of ways:

1.  Myself and other motorist, have to deal with high gas prices.  (Here, regular, unleaded gasoline costs around $2.35-$2.50 a gallon.)
2.  It is almost impossible for people in my age group here to find work.
3.  A third party company was paying for my college tuition and books, but because money is getting tight these days, I and some others have recently had our funding cut.

Originally posted by DJRANZ

1.  Myself and other motorist, have to deal with high gas prices.  (Here, regular, unleaded gasoline costs around $2.35-$2.50 a gallon.)

hehe be careful with that.  The U.S. has some of the cheapest gas prices in the world.  In Sweden, I pay about $7.50 per gallon.  Im not looking forward to filling up me Volvo V40 next week when I get back there....

Me personally, I only felt a bit of the recession with the price of food, but I did not let it stop me from eating good.  Luckily my wife and I both have great jobs and a good solid foundation and no credit card loans.

The recession hurt my portfolio most 

The recession could do a few things. lets discuss.
First, people generally go to music in hard times to help vent out stress or lift spirits; Adding to music sales; but at the same time people don't have money to spend. Making music sales in Cheaper Clubs do pretty good and should make it though. However, since the scene has changes since the last major depression, digital music could really throw a curveball. If people don't have the incentive to go out and listen to music, then we could be in some serious trouble.

Originally posted by R33

hehe be careful with that.  The U.S. has some of the cheapest gas prices in the world.  In Sweden, I pay about $7.50 per gallon. 

Exactly! And in Holland we have the highest prices of the EU: between $7.80-8.50/gallon

Originally posted by R33

hehe be careful with that.  The U.S. has some of the cheapest gas prices in the world.  In Sweden, I pay about $7.50 per gallon.  Im not looking forward to filling up me Volvo V40 next week when I get back there....

Me personally, I only felt a bit of the recession with the price of food, but I did not let it stop me from eating good.  Luckily my wife and I both have great jobs and a good solid foundation and no credit card loans.

The recession hurt my portfolio most 

So you have a house in Sweden Tom?  Or do you take your car with you when you fly over? 

I ask because I know you mention that you had an MR2 and you were going to try to get your hands on a Skyline

Bout the recession btw, I don't feel anything of it. As long as my wife and me keep our jobs and it's for 99.9999% sure that we will, nothing will change for us. And yes, we bought a house only 1.5 years ago and the prices are lower now, but as long as we won't sell it, we won't lose anything. So no worries for me personally.

What do you do for work, Rem?

haven't felt it. i know the US is a lot better off than some of the countries in europe and asia, and especially here, the music and entertainment scene is NOT feeling any kind of recession.

it's really good for us music and film guys. Sure, it's hard to break into it, but when you do, work is pretty solid. I'm not really talking about the traditional "I wanna be an artist" type deal, but for me, who works at a studio as an audio engineer, and writing music for TV and commercials and getting the occasional album sale, and also for others in a similar situation, the impact is not that great.

It's industries like finance, travel, and the automobile industries that are getting hit the worst. but again, that's only speaking for the US.

Originally posted by DJRANZ

What do you do for work, Rem?

A printing company. A lot of them go bankrupt, but we keep doing well. We're still full of work and it doesn't look like that's going to change

Haven't felt it over here in Macedonia either. Then again, the economy here has always been bad, so I'm not sure how much worse it could go.

Originally posted by DJRANZ

So you have a house in Sweden Tom?  Or do you take your car with you when you fly over? 

I ask because I know you mention that you had an MR2 and you were going to try to get your hands on a Skyline

Yes, I have a house in Sweden.  And I do not take my car with me, I have a Volvo V40 Estate there in me car port.

I also stopped trying to get my hands on a Skyline.  It is way too much work. 

I live in Maryland, where, luckily, the economy has a far more stable backdrop than in other parts of the country. We're supported by hundreds of thousands of government and high-tech research jobs all over, and unemployment has generally been relatively low throughout. Where I live, it doesn't look like that much has changed, although my mom (who works in the high-end retail part of furniture industry) says sales of home furnishings fell off a cliff this year. I can believe it, with so few home sales now and plunging home prices. Her company has been shifting between closing and merging with another store for months now, so it's very uncertain right now. I definitely had to watch my spending as well. Shit, I could only afford a meal or two each day this past college semester. It's absolutely ridiculous there. I'm also hoping to get work this summer, but it's not guaranteed yet.

Oh and BTW, General Motors is declaring bankruptcy on Monday. I know some eCONomists are saying it won't have that much affect if GM can't reorganize itself and come out of its danger zone, but I don't think Michigan is really buying into it with unemployment at 13% there. GM's been a tragedy in the making for four decades now, though. It's really bad out there. The Federal Reserve said today that ALL 50 states' economies shrank in April. http://www.calculatedriskblog.com/2009/05/philly-fed-state-coincident-indexes.html Now, how is that for a sign of the times?

Originally posted by Rover

Oh and BTW, General Motors is declaring bankruptcy on Monday. I know some eCONomists are saying it won't have that much affect if GM can't reorganize itself and come out of its danger zone,

European brands like Fiat are buying parts of it
Finally European companies start taking over American companies as what has happened the other way around for way too many times

Originally posted by Xander

So I was just wondering how the 'recession' is hitting everybody around the world. I'm getting kicked out of my house, so I'm definately feeling it. I was kind of curious if it's affecting the EDM scene much. Opinions?

Wow man, that really really sucks. =/

Because of my age (18), I don't tend to feel it as much personally as most people becuase i'm younger and don't have a family to look after or pay rent etc. However, I know my family is finding it hard, because everything has gone up the UK, but my Dad's wages haven't followed suit, infact he had to have a slight pay cut... but at least he's still in work, even if he's not doing what he enjoys or is good atm. It's really shitty, but I know that some people are far worse off, and that's the way you have to view it.

Recession has hit me quite hard. At this moment, i am 21 year old, for past three years i was studying in college. It wasn't easy for me, since my city is small, so i had to go to college in capital, which is far away from my city. So i spent 3 hours everyday just to get there and back. Usually i woke up at 5 am, and was home only at 7 pm. With such schedule i couldn't keep an job and college both at same time, so i though i will finish studies, then i will find an work. And just at the moment i finished them, the whole recession thing started. And now it is very hard to get an job here, with Lithuania being such an small country