Surviving the 2008 recession

Recession is in the air. It isn’t here for sure, but, damn, when you pay $50 for two coffees and a tart in Paris you know your economy isn’t healthy. Add in the latest energy prices and you see we’re almost definitely going to have a problem over the next year with inflation (compounded since many of our goods come from overseas and our dollar is buying less and less — dramatically less we found on our latest trip to Europe).

If recession and/or inflation is coming, now is the time to prepare. How?

1. Get some income from overseas. The dollar is weak, but that means that non-US people are going to want to pay for your work rather than hiring their countrymen for a higher rate. So, take advantage of it. Don’t think this is true? Visit a national park this summer in the US and notice that there’s a lot more Europeans visiting than last year. Why? Their Euros buy a lot more of our stuff than they buy back home. Tons of geeks on our trip told us they are begging their bosses to go to US so they can come shopping.

2. Cut expenses.

3. Lock down clients into longer-term contracts. Even give them some concessions to get them to renew their contracts, or extend them.

4. Ensure you’re seen as valuable at work. Do an honest assessment. Are you really in the top 10% of all workers at your company? That’s where you want to be to avoid the layoffs.

5. Network more than usual. You might get laid off and you’ll want to network as much as possible so that you’ll have a friendly network to help you find new work.

6. Watch the job listings. They are leading indicators of the health of the economy, plus you might see a job that will help you survive (I got my job at NEC during the depth of the last downturn by watching Craig’s List).

7. Dust off your blog. Especially if you get laid off. Try to own a niche. You might get noticed and you might get a new job because people are seeing you excited about something.

8. Start a company. During the last downturn I saw quite a few people start companies and they got richer as the economy got better. Same thing happened in the early 1990s when Fawcette Technical Publications got started.

9. Move to a bigger company (or if you are there already, think twice about leaving). Big companies can survive the downturns. IBM ain’t going anywhere. Either is Microsoft, Google, Apple. Even Yahoo, which has seen its troubles lately, isn’t going away, although it might shed lots of employees (if you’re going to work at a big company make sure you read #4 again — really valuable employees rarely get cut and if they do their reputations help them bounce back on their feet).

10. If you are in a big company, join a group that isn’t going to get cut. Scott Guthrie’s group inside Microsoft, for instance, is a lot safer than lots of other groups.

11. If you’re in a small company, get real friendly with two groups of people: First, the salespeople. If they start leaving you know the business isn’t seeing good revenues. Second, the CFO or financial people. Better yet, try to get your fingers on the books and understand them. At Userland, during the last downturn, I practiced this and ran the books and paid the bills. We still ran out of cash, but I knew about it three months ahead of time so I was able to mentally prepare for the day I’d have to lay myself off.

12. Look at your stock portfolio and make smart moves. I know lots of you don’t look too closely at what you’re invested in. Lots of people really got hurt last time there was a downturn in the stock market. Are you diversified? Do you have more than a small percent of your portfolio in any one company? Have you sat down with a financial planner lately and talked through your portfolio?

13. Try to get into hot new markets. Russia, for instance, is flush with cash because of the high oil prices. Are you expanding operations there? Can you?

14. ComputerWeekly is recommending CIOs get two budgets together and look for redundancies that companies can cut.

15. Work the basics: build a cash reserve; manage inventory; renegotiate your llease; reward loyal customers; build value — these are all suggestions by Scott Barancik that I found on a Google Search for preparing for recession.

16. See where you stand in the story line. That advice comes as part of a “Prepare for Recession: Just in Case” post by Bill Conerly who does the Businomics Blog. He has lots of other good advice over on a post about what families can do to prepare.

17. Write a blog about how to brilliantly sail through a recession. That way when people start to feel its effects they’ll find your post and your increased traffic will potentially make you some advertising money or at least some new friends who valued your advice. Heheh.

18. Clean up your balance sheet. That’s what the Wastrel Show recommends.

19. Keep your ear to the ground, Money Central recommends.

How about you? Do you have any good suggestions? Are you preparing for economic troubles ahead? Why/why not?

Oh, and please remember those who are hurt by this economic downturn. The stories that are starting to come out are not pretty. If nothing else, join Jeremy Toeman in volunteering to help those who are less fortunate. I will be.

Comments

  1. Moved to Finland, left America. Living in a “little” town just north of Helsinki for quite cheap and everything in Europe is a mere 3 hours away. I invested a great deal of money into euros before the dollar nose dived over this summer, but it still hurts living here on an American salary. Even Jay Z in his latest music video doesn’t choose to flash American money, he shows off euros. That says a lot.

  2. Moved to Finland, left America. Living in a “little” town just north of Helsinki for quite cheap and everything in Europe is a mere 3 hours away. I invested a great deal of money into euros before the dollar nose dived over this summer, but it still hurts living here on an American salary. Even Jay Z in his latest music video doesn’t choose to flash American money, he shows off euros. That says a lot.

  3. Great post. I definitely think your right about the recession. At the moment I am thinking about adding strings to my bow, am thinking about setting up a pro account at SmugMug to get some additional revenue and I have just started my blog.

    My biggest issue is my current contract is coming to an end early next year so I am definitely networking at the moment.

  4. Great post. I definitely think your right about the recession. At the moment I am thinking about adding strings to my bow, am thinking about setting up a pro account at SmugMug to get some additional revenue and I have just started my blog.

    My biggest issue is my current contract is coming to an end early next year so I am definitely networking at the moment.

  5. Our family – Dreaming of a green Christmas

    Mothers everywhere will probably agree that, while Santa gets all the gratitude, it’s us women who actually make Christmas happen I’ve spent the week cleaning, shopping and planning for one of the most ‘interesting’ Christmases…

  6. Stay out of/get out of debt. We had several thousand in credit card debt about 10 years ago, and it made our finances really tough when anything happened. We got aggressive about paying it off, then took the money we were used to paying towards debt and sent it to savings instead.

    Build up your emergency savings. I’ve heard several people suggest 3 months or so of your monthly expenses.

  7. Stay out of/get out of debt. We had several thousand in credit card debt about 10 years ago, and it made our finances really tough when anything happened. We got aggressive about paying it off, then took the money we were used to paying towards debt and sent it to savings instead.

    Build up your emergency savings. I’ve heard several people suggest 3 months or so of your monthly expenses.

  8. $50 for 2 coffees and a tart : a decade ago, that was our pain, us Europeans when visiting the US. Times change…

    About Robert’s points :
    #1 : should those forthcoming hard times push Americans to do business with Europe…

    #3 : you don’t want to lock in customers ONLY during bad times. It must be the priority number one at any time.

    #4 : being in the top 10% doesn’t avoid you to be laid-off. I’ve been thru this during the last downturn after the Bubble’ crash, with US-based HP/Agilent Technologies. Been leading the biggest new product launch in the entire history of the company (60 years), been selected to be part of a small task-force aimed at off-shoring the whole business unit, been finally laid-off as 90% of this BU. I was among the the top 10%, however I had to go. Why ? Politics & Networking. I was not good enough on that one.
    Hence the lesson : being in the Top 10% also means be in the Top 10% for internal affairs.

    #5 : Networking is key, agree 100%. My case : when I left Agilent, my active network was near to zero. All the people I knew were in the same business than me, hence they were in the same situation. Took me 2 years to rebuild a real network with connections OUTSIDE my industry. Lesson : don’t stick with your core business, become friend with the people at the grocery store next door.

    #10 : move to a safer group within your actual company BEFORE the bad times really start. After, hiring freeze will certainly be the norm.

    #13 : get in hot markets, but not Russia. Except if you’re ready to throw your cash out of the windows simply to get in the right accounts. Better go to… Middle East (okay American Folks, I know…). Take the Emirates for instance. Way easier to make money there than in Russia. The proof ? Russians go to Dubai.

  9. $50 for 2 coffees and a tart : a decade ago, that was our pain, us Europeans when visiting the US. Times change…

    About Robert’s points :
    #1 : should those forthcoming hard times push Americans to do business with Europe…

    #3 : you don’t want to lock in customers ONLY during bad times. It must be the priority number one at any time.

    #4 : being in the top 10% doesn’t avoid you to be laid-off. I’ve been thru this during the last downturn after the Bubble’ crash, with US-based HP/Agilent Technologies. Been leading the biggest new product launch in the entire history of the company (60 years), been selected to be part of a small task-force aimed at off-shoring the whole business unit, been finally laid-off as 90% of this BU. I was among the the top 10%, however I had to go. Why ? Politics & Networking. I was not good enough on that one.
    Hence the lesson : being in the Top 10% also means be in the Top 10% for internal affairs.

    #5 : Networking is key, agree 100%. My case : when I left Agilent, my active network was near to zero. All the people I knew were in the same business than me, hence they were in the same situation. Took me 2 years to rebuild a real network with connections OUTSIDE my industry. Lesson : don’t stick with your core business, become friend with the people at the grocery store next door.

    #10 : move to a safer group within your actual company BEFORE the bad times really start. After, hiring freeze will certainly be the norm.

    #13 : get in hot markets, but not Russia. Except if you’re ready to throw your cash out of the windows simply to get in the right accounts. Better go to… Middle East (okay American Folks, I know…). Take the Emirates for instance. Way easier to make money there than in Russia. The proof ? Russians go to Dubai.

  10. Interestingly, the US is in a wartime economy and is enjoying the lowest crime rate in decades.

    How different would the economy be if there was no war and the crime rate was as it has been in the early 1990s?

    Also, electronics, clothes, furniture and food are the cheapest they have ever been – but rents gas and tuition are immensly high

  11. Interestingly, the US is in a wartime economy and is enjoying the lowest crime rate in decades.

    How different would the economy be if there was no war and the crime rate was as it has been in the early 1990s?

    Also, electronics, clothes, furniture and food are the cheapest they have ever been – but rents gas and tuition are immensly high

  12. Wow, this is total google-bait if I ever saw it. When you discover that tarts and coffee are $50 in Paris it is TOO LATE to move your money and business to Europe. In fact, you probably are much closer to the top in the Euro and Europeans should be moving money here.

  13. Wow, this is total google-bait if I ever saw it. When you discover that tarts and coffee are $50 in Paris it is TOO LATE to move your money and business to Europe. In fact, you probably are much closer to the top in the Euro and Europeans should be moving money here.

  14. As a freelancer, it’s important for me to have several sources of income. I’ve lost two long-term clients this year (one closed up shop and another got swallowed by a larger company), but I have other jobs. I picked up a new client this month and they like my work and have recommended me to some associates. Can’t argue with that. Things are tight, but they could be a lot worse. I could have been a full-time employee of the company that closed up shop right before Christmas!

    @searchengines: Yep, utilities and tuition. We have a kid in college and the electric rates where I live haven’t dropped much since Katrina. We bought a new, more efficient AC/heating system, have been installing CFL lamps among other measures and our bills keep going up. Oh, I see by the stats on the bills that we’re using far less energy, but we’re paying more for it.

    But hey, the kid is studying video game design. He’ll be able to support US one day! ;-)

  15. A weak dollar does not equate a recession. In most cases a weak dollar makes it more cost effective to purchase US goods because they can buy more of them, therefore increasing demand for US goods. With an increase in demand, prices will rise until production can grow to meet the demand.

    Therefore the weak dollar makes it much more likely that we are entering a period of growth rather than recession.

    Last month inflation rose greater than expected, per the Fed, which means that the economy is growing.

    I like most of your thoughts, but when it comes to economics I tend to have an issue.

    Good luck with your recession in 2008. I hope you are moving to a job at a bigCo in January!

  16. A weak dollar does not equate a recession. In most cases a weak dollar makes it more cost effective to purchase US goods because they can buy more of them, therefore increasing demand for US goods. With an increase in demand, prices will rise until production can grow to meet the demand.

    Therefore the weak dollar makes it much more likely that we are entering a period of growth rather than recession.

    Last month inflation rose greater than expected, per the Fed, which means that the economy is growing.

    I like most of your thoughts, but when it comes to economics I tend to have an issue.

    Good luck with your recession in 2008. I hope you are moving to a job at a bigCo in January!

  17. As a freelancer, it’s important for me to have several sources of income. I’ve lost two long-term clients this year (one closed up shop and another got swallowed by a larger company), but I have other jobs. I picked up a new client this month and they like my work and have recommended me to some associates. Can’t argue with that. Things are tight, but they could be a lot worse. I could have been a full-time employee of the company that closed up shop right before Christmas!

    @searchengines: Yep, utilities and tuition. We have a kid in college and the electric rates where I live haven’t dropped much since Katrina. We bought a new, more efficient AC/heating system, have been installing CFL lamps among other measures and our bills keep going up. Oh, I see by the stats on the bills that we’re using far less energy, but we’re paying more for it.

    But hey, the kid is studying video game design. He’ll be able to support US one day! ;-)

  18. I won’t claim to be an economics wizard, but is more of the reason we may be facing a recession b/c of some undefeatable force or simply because we are afraid? Seems to me there is plenty to do, a shortage of technical workers in the U.S. We can now ship more products overseas and have more people coming into the U.S. While our money might not be worth as much, there should be more of it to go around with the extra revenue generating opportunities. I read an interesting article recently that argued that a weaker dollar doesn’t mean a weaker country.

  19. I won’t claim to be an economics wizard, but is more of the reason we may be facing a recession b/c of some undefeatable force or simply because we are afraid? Seems to me there is plenty to do, a shortage of technical workers in the U.S. We can now ship more products overseas and have more people coming into the U.S. While our money might not be worth as much, there should be more of it to go around with the extra revenue generating opportunities. I read an interesting article recently that argued that a weaker dollar doesn’t mean a weaker country.

  20. I’m trying to get my father to reign in X-mas spending. He work at Home Depot which would seem to be highly vulnerable to a recession + the housing crunch.

    As for me, I’m grateful for my job in the Coast Guard. The only way we will make cuts if people can’t afford to get lost at sea on their yacht, or buy imported cocaine.

  21. I’m trying to get my father to reign in X-mas spending. He work at Home Depot which would seem to be highly vulnerable to a recession + the housing crunch.

    As for me, I’m grateful for my job in the Coast Guard. The only way we will make cuts if people can’t afford to get lost at sea on their yacht, or buy imported cocaine.

  22. My view on how to avoid a recession is to have the man in the Whitehouse step up with some leadership.

    He should announce a grand initiative a la Kennedy’s “man on the moon” speech or Roosevelts New Deal.

    GW should move the country toward energy innovation. Why not set a goal of the US getting 1/2 of its energy from renewable sources?

    This could drive the economy for decades, not to mention render middle east politics (and wars) irrelevant.

  23. My view on how to avoid a recession is to have the man in the Whitehouse step up with some leadership.

    He should announce a grand initiative a la Kennedy’s “man on the moon” speech or Roosevelts New Deal.

    GW should move the country toward energy innovation. Why not set a goal of the US getting 1/2 of its energy from renewable sources?

    This could drive the economy for decades, not to mention render middle east politics (and wars) irrelevant.

  24. Nothing personal, but a weak dollar has little to do with a recession, jobs numbers are wonderful right now and this “awful economy” is a myth being propagated by the media who are intent upon portraying every part of our country as being devastated by our current President and his administration because they believe this will help get liberals elected next November.

    FYI. People loose jobs even in a booming economy.

    If you really want to see our economy take a downturn, just wait until they enact new Kyoto-like restrictions on US businesses for the sake of the “environment” then you’ll really see a recession, if not a new depression.

  25. Nothing personal, but a weak dollar has little to do with a recession, jobs numbers are wonderful right now and this “awful economy” is a myth being propagated by the media who are intent upon portraying every part of our country as being devastated by our current President and his administration because they believe this will help get liberals elected next November.

    FYI. People loose jobs even in a booming economy.

    If you really want to see our economy take a downturn, just wait until they enact new Kyoto-like restrictions on US businesses for the sake of the “environment” then you’ll really see a recession, if not a new depression.

  26. Rusty, record inflation numbers were just released (4.3% REAL inflation) and at the same time mortgage crisis has put many people out of their homes, depressed housing markets and trickled down so far that it even caused slump in truck production, oil is getting more expensive, country is running a huge deficit whether or not you agree with the war, anything else?

  27. Rusty, record inflation numbers were just released (4.3% REAL inflation) and at the same time mortgage crisis has put many people out of their homes, depressed housing markets and trickled down so far that it even caused slump in truck production, oil is getting more expensive, country is running a huge deficit whether or not you agree with the war, anything else?

  28. I’d like to think that the dollar can’t slide too much more. Hopefully the real estate correction will help people be more responsible with their money, but then again I doubt Americans will start saving more.

    Thanks for the great tips.

  29. I’d like to think that the dollar can’t slide too much more. Hopefully the real estate correction will help people be more responsible with their money, but then again I doubt Americans will start saving more.

    Thanks for the great tips.

  30. $50! I hope that was a GREAT recession-proof tart Robert. I was in Montparnasse a few years back and we found a great bakery just off the main square where the pastries and coffee were great and only were a few euros.

  31. $50! I hope that was a GREAT recession-proof tart Robert. I was in Montparnasse a few years back and we found a great bakery just off the main square where the pastries and coffee were great and only were a few euros.

  32. I think your advice is sound, however, I don’t understand the connection between the price of coffee in Paris and a recession? Convention economic thought (and conventional wisdom) suggests that a weak U.S. dollar means more exports, i.e., money flowing into the U.S. Your suggestion that folks get work outside the U.S. speaks to this conventional wisdom. Hey, we’re India and China for European companies.

    Believe me, I don’t want to get into a debate over whether or not we’re going to have a recession (I don’t like circular arguments): plan for one and be pleased if we don’t.

    However, I will remind you that most companies who take advantage of downturns end up benefiting greatly: Apple and Google both went on hiring and marketing binges during the “bust” and, well…

    Another “what if” scenario to consider: We may NOT be heading into a recesssion was the subject of an article in the NY Times yesterday:
    http://www.nytimes.com/2007/12/14/business/14econ.html

  33. I think your advice is sound, however, I don’t understand the connection between the price of coffee in Paris and a recession? Convention economic thought (and conventional wisdom) suggests that a weak U.S. dollar means more exports, i.e., money flowing into the U.S. Your suggestion that folks get work outside the U.S. speaks to this conventional wisdom. Hey, we’re India and China for European companies.

    Believe me, I don’t want to get into a debate over whether or not we’re going to have a recession (I don’t like circular arguments): plan for one and be pleased if we don’t.

    However, I will remind you that most companies who take advantage of downturns end up benefiting greatly: Apple and Google both went on hiring and marketing binges during the “bust” and, well…

    Another “what if” scenario to consider: We may NOT be heading into a recesssion was the subject of an article in the NY Times yesterday:
    http://www.nytimes.com/2007/12/14/business/14econ.html

  34. Rex: good point. I shouldn’t have tied the two things so closely. But the problem is that we import almost everything from overseas. So, weakening dollar brings on inflation. From what I’ve been reading the economists are most worried about that. As you said, though, there are some benefits to our economy from a weak dollar because now we’ll have more tourists here and we’ll have more people trying to hire us because our labor is all of a sudden a lot cheaper than it was a year ago.

  35. Rex: good point. I shouldn’t have tied the two things so closely. But the problem is that we import almost everything from overseas. So, weakening dollar brings on inflation. From what I’ve been reading the economists are most worried about that. As you said, though, there are some benefits to our economy from a weak dollar because now we’ll have more tourists here and we’ll have more people trying to hire us because our labor is all of a sudden a lot cheaper than it was a year ago.

  36. I work for a German multi-national, and the weaker dollar has made us choose US vendors where we chose German vendors in the past (for big ticket manufacturing equipment). From an tech standpoint, a weaker dollar also makes offshoring not as attractive.

    I’m also not sure an anecdotal observation is proof of a coming recession.

  37. I work for a German multi-national, and the weaker dollar has made us choose US vendors where we chose German vendors in the past (for big ticket manufacturing equipment). From an tech standpoint, a weaker dollar also makes offshoring not as attractive.

    I’m also not sure an anecdotal observation is proof of a coming recession.

  38. I once worked for the second largest computer company in the world. I was laid off with about 80,000 other people and that company no longer exists as an independent company. Put not your trust in big companies.

    Going back to school can be a good idea. I spent my last couple of years at that large company getting a masters on their dime. I think it paid off for me. I also took a bunch of courses in other “soft skills” like writing and speaking. They also paid off for me.

    But to me the best advice is to reduce debt, put money aside, and network like crazy. All the really good jobs I’ve ever had came from networking.

  39. I once worked for the second largest computer company in the world. I was laid off with about 80,000 other people and that company no longer exists as an independent company. Put not your trust in big companies.

    Going back to school can be a good idea. I spent my last couple of years at that large company getting a masters on their dime. I think it paid off for me. I also took a bunch of courses in other “soft skills” like writing and speaking. They also paid off for me.

    But to me the best advice is to reduce debt, put money aside, and network like crazy. All the really good jobs I’ve ever had came from networking.

  40. The question is how will a potential recession affect the world of tech and the internet? Most stories I’ve seen show that tech is still strong.

  41. The question is how will a potential recession affect the world of tech and the internet? Most stories I’ve seen show that tech is still strong.

  42. Ronald Reagon got us out of the last recession mostly by telling us we were the greatest country on earth .If we want to end the stock market crisis we need to invest in our own country what are you doing working for some foreign government which is trying to take capital out of the United States . Instead of sending our money over seas why don’t we send you over seas to work in a sweat shop.

  43. Ronald Reagon got us out of the last recession mostly by telling us we were the greatest country on earth .If we want to end the stock market crisis we need to invest in our own country what are you doing working for some foreign government which is trying to take capital out of the United States . Instead of sending our money over seas why don’t we send you over seas to work in a sweat shop.

  44. The talk of US recession is not about some thing unreal. The recesion is round the corner for most economies. The US economy would suffer more because it has very expensive style of living and it has to import a lot of items of day to day use from out side. The dollar is because initially America was very efficient and now the efficient ways have been adopted many an older countries. War mongering has also taken its toll on American economy. It has perforce now to speak of peace and not offer its war equipment of new age to who ever offer to buy for the fear of its being used against itself. If only had USA adopted policies ith interest of entire human kind in view, the thing would have been different. Its propagation of democray is a farce for its has not asked China so far to be democractic to be fit for business while it suddenly asked the Musharraf of Pakistan to resore democracy or be ready for some thing untold. The economic turmoil will happen for the world is on the verge of changing drastically.

  45. The talk of US recession is not about some thing unreal. The recesion is round the corner for most economies. The US economy would suffer more because it has very expensive style of living and it has to import a lot of items of day to day use from out side. The dollar is because initially America was very efficient and now the efficient ways have been adopted many an older countries. War mongering has also taken its toll on American economy. It has perforce now to speak of peace and not offer its war equipment of new age to who ever offer to buy for the fear of its being used against itself. If only had USA adopted policies ith interest of entire human kind in view, the thing would have been different. Its propagation of democray is a farce for its has not asked China so far to be democractic to be fit for business while it suddenly asked the Musharraf of Pakistan to resore democracy or be ready for some thing untold. The economic turmoil will happen for the world is on the verge of changing drastically.

  46. Two coffees and a tart for 35.- € ? That’s got nothing to do with your economy, it’s simply a rip-off, even for Paris.

  47. Two coffees and a tart for 35.- € ? That’s got nothing to do with your economy, it’s simply a rip-off, even for Paris.

  48. @17… just exactly how much does any president effect your personal finances? did he force you to buy a car or a home you couldnt really afford?

    did he force you to live beyond your means? He runs the country, not each of our personal lives.

    grow up, get out of debt and stop living beyond your means; no president or govt is responsible for your life on that level!

    as for the ‘recession’ … um, no. We have near zero unemployment in the US, President Bush actually just cut the deficit in half a few months ago and more than 93% of the homeowners in the this country are paying their mortgages on time.

    the ones that bought more than they could afford? too bad; this is called a market correction and they need to go live in cheap apartments til they figure out how the mortgage thingie works.

    yes, we do have high gas prices but that’s because the Libs wont let us drill for our own oil in our own country; they force us to go to dictators who create instability around them and us with their psychosis.

    they also shun nuclear energy and think every American family can fit in a Yugo.

  49. @17… just exactly how much does any president effect your personal finances? did he force you to buy a car or a home you couldnt really afford?

    did he force you to live beyond your means? He runs the country, not each of our personal lives.

    grow up, get out of debt and stop living beyond your means; no president or govt is responsible for your life on that level!

    as for the ‘recession’ … um, no. We have near zero unemployment in the US, President Bush actually just cut the deficit in half a few months ago and more than 93% of the homeowners in the this country are paying their mortgages on time.

    the ones that bought more than they could afford? too bad; this is called a market correction and they need to go live in cheap apartments til they figure out how the mortgage thingie works.

    yes, we do have high gas prices but that’s because the Libs wont let us drill for our own oil in our own country; they force us to go to dictators who create instability around them and us with their psychosis.

    they also shun nuclear energy and think every American family can fit in a Yugo.

  50. The link below the Greenspan’s remarks is to TD Waterhouse that states there will be no recession in 2008.

    “But there has been so much coverage of the sub-prime crisis that we believe it’s already embedded in current market prices. Therefore, other strong fundamentals, when combined with the stimulative effect on markets of the presidential cycle, will outweigh the sub-prime impact and keep the economy out of recession territory.”

    Many believe that Greenspan overreacted to the fears of the 2000 collapse of civilization theory and influenced the release of too much cash into the economy that, along with the tightening if rates, caused the recession in late 2000 / 2001.

  51. The link below the Greenspan’s remarks is to TD Waterhouse that states there will be no recession in 2008.

    “But there has been so much coverage of the sub-prime crisis that we believe it’s already embedded in current market prices. Therefore, other strong fundamentals, when combined with the stimulative effect on markets of the presidential cycle, will outweigh the sub-prime impact and keep the economy out of recession territory.”

    Many believe that Greenspan overreacted to the fears of the 2000 collapse of civilization theory and influenced the release of too much cash into the economy that, along with the tightening if rates, caused the recession in late 2000 / 2001.

  52. I have heard many saying in their comments that a weak dollar doesn’t necessarily mean a recession is around the corner. While partially true, one must also realize that big players like China, Japan, Saudi Arabia….and a host of other countries, are now thinking of the future. Right now the dollar is the world’s reserve currency, but many countries are gradually moving away from the dollar and diversifying the assets in other currencies. (ie, the pound, the Euro, even gold)…I think we need to realize that even if the countries listed above cut their dollar denominated assets by 10% each year, we will have over a trillion dollars per year (minimum)dumped back into our economy. This would cause hyper inflation, and the poor and middle class who have a true inflation rate of 10% each year currently (unlike what we are led to believe by the government)…will not be able to keep up the pace. The dollar will eventually collapse as nations move away from it and we will be in a recession.

    Just my two cents for what it’s worth (of course two cents are not worth 2 cents anymore).

  53. I have heard many saying in their comments that a weak dollar doesn’t necessarily mean a recession is around the corner. While partially true, one must also realize that big players like China, Japan, Saudi Arabia….and a host of other countries, are now thinking of the future. Right now the dollar is the world’s reserve currency, but many countries are gradually moving away from the dollar and diversifying the assets in other currencies. (ie, the pound, the Euro, even gold)…I think we need to realize that even if the countries listed above cut their dollar denominated assets by 10% each year, we will have over a trillion dollars per year (minimum)dumped back into our economy. This would cause hyper inflation, and the poor and middle class who have a true inflation rate of 10% each year currently (unlike what we are led to believe by the government)…will not be able to keep up the pace. The dollar will eventually collapse as nations move away from it and we will be in a recession.

    Just my two cents for what it’s worth (of course two cents are not worth 2 cents anymore).

  54. @Marion,

    If the 10% is in US bonds covering federal debt, then yes, we will have hyperinflation. If they are assets such real estate, companies, etc., then they are part of an exchange where now the money is in circulation and that asset is owned by someone else. Depending on appreciation or depreciation, hyper deflation of the asset could occur as well, which is an even worse scenario. The questions then becomes where is the best market for appreciation, and will the sale make things attractive here for other investors. “Stuff is on sale” idea.

    However, Dubai / UAE has just purchase 5% of Citibank and I think that the US remains a place to invest and while the valuation maybe in Euros instead of Dollars, the value of the assets will still appreciate as they continue to demonstrate future value.

  55. @Marion,

    If the 10% is in US bonds covering federal debt, then yes, we will have hyperinflation. If they are assets such real estate, companies, etc., then they are part of an exchange where now the money is in circulation and that asset is owned by someone else. Depending on appreciation or depreciation, hyper deflation of the asset could occur as well, which is an even worse scenario. The questions then becomes where is the best market for appreciation, and will the sale make things attractive here for other investors. “Stuff is on sale” idea.

    However, Dubai / UAE has just purchase 5% of Citibank and I think that the US remains a place to invest and while the valuation maybe in Euros instead of Dollars, the value of the assets will still appreciate as they continue to demonstrate future value.

  56. Ann, you need to stop watching Fox news. Recession is here and in your Prez watch. Why is is that every Republican Prez always increases the debt, causes a recession and makes people poorer ?

  57. Ann, you need to stop watching Fox news. Recession is here and in your Prez watch. Why is is that every Republican Prez always increases the debt, causes a recession and makes people poorer ?

  58. What Really has value?
    That cord of firewood in the shed looks really valuable
    this winter. My 401k will be less so. Invest in things with real value. We are hunkering down for tight times up here in Vermont. Done it before. We’ll do it again. I feel really sorry for people who don’t own land, have the knowledge and skill to feed themselves, or the willingness to work at it. I realize we are atypical.
    That’s good. We planned it that way 25 years ago.

  59. What Really has value?
    That cord of firewood in the shed looks really valuable
    this winter. My 401k will be less so. Invest in things with real value. We are hunkering down for tight times up here in Vermont. Done it before. We’ll do it again. I feel really sorry for people who don’t own land, have the knowledge and skill to feed themselves, or the willingness to work at it. I realize we are atypical.
    That’s good. We planned it that way 25 years ago.

  60. As a 63-year-old retired widow I saw this mess coming several years ago, as did many of my retired friends. Many went back to work and paid off credit cards and mortgages. Now I am totally debt free. Those of us who are too old to work the land and grow food have migrated to the cities in the Southeast (not Florida). Expenses are lower, public transportation is available, and there are always jobs on the lower pay scale. We remember our parents telling us about the great depression; we were taught to save. Us old folks also know how to share and support each other. Bad times are coming as they have before but this too shall pass. Finally, speaking of rip offs, who do people keep buying coffee and rolls at Starbucks?

  61. As a 63-year-old retired widow I saw this mess coming several years ago, as did many of my retired friends. Many went back to work and paid off credit cards and mortgages. Now I am totally debt free. Those of us who are too old to work the land and grow food have migrated to the cities in the Southeast (not Florida). Expenses are lower, public transportation is available, and there are always jobs on the lower pay scale. We remember our parents telling us about the great depression; we were taught to save. Us old folks also know how to share and support each other. Bad times are coming as they have before but this too shall pass. Finally, speaking of rip offs, who do people keep buying coffee and rolls at Starbucks?

  62. I have read and dleiberated over the following blogs and have to say ,some are very interesting and right on the money or about the money.The best one is #50,#51 and #39.They speak of values and trust which many people in the US have forgotten,along with family values and hard work. There it is the key word WORK many people have forgotten that word and what it means,Hard days work for a fair wage.I believe that everyone who does this will be taken care of i:e God, family , faith,and employer.But we as a country have forgotten this. We think that taking away our rights and our priviliges and having someone else tell us what to do or how to do it will makee everything alright,like our government (state and federal),enviromentalist and lobbyist.We need to take back what is ours. I recently was told that i could not smoke at a place that allowed smoking,then i was told that starting jan 1st 08 i would not be allowed to smoke anywhere in a public place, Fine.My problem with all this , is I never got to vote on this,like seat belts.I do not have a problem with this if i would of had a vote and it was voted by the people for the people (remeber these words,constituation 101 )our goverment obviously forgot theme.My whole point being is that my father,grandfather and his father before him , like yours, have lead a pretty good life on their beliefs and faith and hard work.What we the people need to do is get off our rear-ends and getter-done.Quit back stabbing each other and teach our children the beliefs our fathers, grandfathers had.In faith,honesty and Hard WORK before it’s to late and it’s never too late to learn.We do need to save,stash or whatever floats your boat with our money,like we have not seen this coming!I pray for our children and what they will have to deal with in the future.

  63. I have read and dleiberated over the following blogs and have to say ,some are very interesting and right on the money or about the money.The best one is #50,#51 and #39.They speak of values and trust which many people in the US have forgotten,along with family values and hard work. There it is the key word WORK many people have forgotten that word and what it means,Hard days work for a fair wage.I believe that everyone who does this will be taken care of i:e God, family , faith,and employer.But we as a country have forgotten this. We think that taking away our rights and our priviliges and having someone else tell us what to do or how to do it will makee everything alright,like our government (state and federal),enviromentalist and lobbyist.We need to take back what is ours. I recently was told that i could not smoke at a place that allowed smoking,then i was told that starting jan 1st 08 i would not be allowed to smoke anywhere in a public place, Fine.My problem with all this , is I never got to vote on this,like seat belts.I do not have a problem with this if i would of had a vote and it was voted by the people for the people (remeber these words,constituation 101 )our goverment obviously forgot theme.My whole point being is that my father,grandfather and his father before him , like yours, have lead a pretty good life on their beliefs and faith and hard work.What we the people need to do is get off our rear-ends and getter-done.Quit back stabbing each other and teach our children the beliefs our fathers, grandfathers had.In faith,honesty and Hard WORK before it’s to late and it’s never too late to learn.We do need to save,stash or whatever floats your boat with our money,like we have not seen this coming!I pray for our children and what they will have to deal with in the future.

  64. My advice and my plan:

    Invest as much as possible in the stock market with in the next 2-6 weeks, if you haven’t already noticed most stock has dropped drastically. Invest in stock between 10-100 dollars! If you plan on ever investing in the stock market then do it now!

    cheers

  65. My advice and my plan:

    Invest as much as possible in the stock market with in the next 2-6 weeks, if you haven’t already noticed most stock has dropped drastically. Invest in stock between 10-100 dollars! If you plan on ever investing in the stock market then do it now!

    cheers

  66. Who is this article for? Already wealthy that prospered during the W administration? Yeah, working class stiff will (temporarily) move to South of France until things improve. Or start the new company? What World you people live in? O’ I know you guys are the ones that shop at the Wild Oats!

  67. Who is this article for? Already wealthy that prospered during the W administration? Yeah, working class stiff will (temporarily) move to South of France until things improve. Or start the new company? What World you people live in? O’ I know you guys are the ones that shop at the Wild Oats!

  68. Everybody always complains about the economy,the war,politics etc. Trick is be fluid in how you can earn more. I have been overseas contractor making more money than most as it is tax free. It’s time to start thinking on a world economy,not an american economy. And yes it presents some dangers but consider not having your home or seeing your kids go to college….get real! Get into the world economy.

  69. Everybody always complains about the economy,the war,politics etc. Trick is be fluid in how you can earn more. I have been overseas contractor making more money than most as it is tax free. It’s time to start thinking on a world economy,not an american economy. And yes it presents some dangers but consider not having your home or seeing your kids go to college….get real! Get into the world economy.

  70. I haven’t read all the comments, but did anyone mention the billions we are pouring into Iraq and how it would affect us if we kept those $$$$ here? Do we have to keep pouring money into a country who doesn’t even want us there, or should we cut our losses, get out of there, and use our money ourselves?

  71. I haven’t read all the comments, but did anyone mention the billions we are pouring into Iraq and how it would affect us if we kept those $$$$ here? Do we have to keep pouring money into a country who doesn’t even want us there, or should we cut our losses, get out of there, and use our money ourselves?

  72. I have to agree with eldragon.Working class guys like myself buy lead and brass.we”ll have the goods(take them)while your networking.It seems to me this site offers those already rich by some standards……..chow

  73. I have to agree with eldragon.Working class guys like myself buy lead and brass.we”ll have the goods(take them)while your networking.It seems to me this site offers those already rich by some standards……..chow

  74. Hi im 21 years old and because of a great progarm called the thrift savings plan ive been saving for retirement since the age of 18 pretty good huh…
    well all i wanted to say was recesion or no recesion
    My retirement fund of about 6 grand which is completly invested in the stock market just lost about 200 dollars because of the drop in share prices. To me thats pretty good evidence of a recesion but hey each mind is its own world.

  75. Hi im 21 years old and because of a great progarm called the thrift savings plan ive been saving for retirement since the age of 18 pretty good huh…
    well all i wanted to say was recesion or no recesion
    My retirement fund of about 6 grand which is completly invested in the stock market just lost about 200 dollars because of the drop in share prices. To me thats pretty good evidence of a recesion but hey each mind is its own world.

  76. i felt like something wasn’t right. a heavy weight lingering in the air and a word formed on the tip of my tongue.

    recession

    i don’t watch tv, i don’t get the paper, i rarely read news online. the feeling is there; whether the statistics support it or not (and generally they have,) something is amiss.

    the simple act of having typed recession in to google has provided me with a goldmine of information; some saying we’ll stay afloat, others saying we’re already going under.

    i know of 8 people (one being myself,) in 4 different states who CAN NOT find work.

    if we’re not heading for/in a recession; then what is it?

  77. i felt like something wasn’t right. a heavy weight lingering in the air and a word formed on the tip of my tongue.

    recession

    i don’t watch tv, i don’t get the paper, i rarely read news online. the feeling is there; whether the statistics support it or not (and generally they have,) something is amiss.

    the simple act of having typed recession in to google has provided me with a goldmine of information; some saying we’ll stay afloat, others saying we’re already going under.

    i know of 8 people (one being myself,) in 4 different states who CAN NOT find work.

    if we’re not heading for/in a recession; then what is it?

  78. Consider carefully before doing anything with your house. Either remodeling or moving or doing nothing. Home prices are down – which is bad but could be good if you are buying a 1st or 2nd home. They will go up again eventually. Interest rates are down which is good for refiancing and home equity loans. Remodeling costs are down as new home building is down, but fuel prices are keeping materials high. So think carefully about your options, try the calculator at http://www.remodelormove.com to see if it really makes sense financially to remodel, move or stay put

  79. Consider carefully before doing anything with your house. Either remodeling or moving or doing nothing. Home prices are down – which is bad but could be good if you are buying a 1st or 2nd home. They will go up again eventually. Interest rates are down which is good for refiancing and home equity loans. Remodeling costs are down as new home building is down, but fuel prices are keeping materials high. So think carefully about your options, try the calculator at http://www.remodelormove.com to see if it really makes sense financially to remodel, move or stay put

  80. A severe recession is upon the United States.

    We as citizens need to wake up and realize our financial stability is on the brink of cracking. Check out http://www.recession2008.wordpress.com and watch some of the smartest people in the world debate this issue and talk about the facts hidden from us.

  81. A severe recession is upon the United States.

    We as citizens need to wake up and realize our financial stability is on the brink of cracking. Check out http://www.recession2008.wordpress.com and watch some of the smartest people in the world debate this issue and talk about the facts hidden from us.

  82. Someone keep Rusty away from the Koolaid.

    “jobs numbers are wonderful right now and this “awful economy” is a myth being propagated by the media who are intent upon portraying every part of our country as being devastated by our current President and his administration because they believe this will help get liberals elected next November.”

    LOL – open your eyes. Rusty is one of those corporate puppets that think the media is liberal (even though it’s Republican owned) and somehow it’s never Bush’s fault.

    Keep dreaming pal. This is going to be one ugly haul. This was brought on by unchecked greed and poor spending/planning by our leadership. You can’t blame this one on Clinton… this is all your baby’s mess.

  83. Someone keep Rusty away from the Koolaid.

    “jobs numbers are wonderful right now and this “awful economy” is a myth being propagated by the media who are intent upon portraying every part of our country as being devastated by our current President and his administration because they believe this will help get liberals elected next November.”

    LOL – open your eyes. Rusty is one of those corporate puppets that think the media is liberal (even though it’s Republican owned) and somehow it’s never Bush’s fault.

    Keep dreaming pal. This is going to be one ugly haul. This was brought on by unchecked greed and poor spending/planning by our leadership. You can’t blame this one on Clinton… this is all your baby’s mess.

  84. This is a great article. I also like the “tart” comment. I am an aspiring freelance writing and love to give my impression of other successful writers that I come across in the great expanse of the World Wide Web!

  85. This is a great article. I also like the “tart” comment. I am an aspiring freelance writing and love to give my impression of other successful writers that I come across in the great expanse of the World Wide Web!

  86. I wrote a blog post with a slight European twist here:

    http://stanfaryna.wordpress.com/2008/03/08/2009-cribs-foreclosed-upon-and-europe-sulking/

    I’m an American that’s been working overseas for six years: websites, rich media-online ad production, and software development. It wasn’t easy adjusting to the differences in culture, mentality, law, taxes, etc.

    Perhaps, there will be a way for non management and management type people to work with ex pats to provide lower cost solutions and services back home in a manner that benefits Americans on both sides of the puddle- without anyone having to pull up roots.

    For example, I would be willing to consider teaming up with people stateside who can sell websites that we make over here. Let’s call it smart-sourcing. What do you think?

    S

  87. I wrote a blog post with a slight European twist here:

    http://stanfaryna.wordpress.com/2008/03/08/2009-cribs-foreclosed-upon-and-europe-sulking/

    I’m an American that’s been working overseas for six years: websites, rich media-online ad production, and software development. It wasn’t easy adjusting to the differences in culture, mentality, law, taxes, etc.

    Perhaps, there will be a way for non management and management type people to work with ex pats to provide lower cost solutions and services back home in a manner that benefits Americans on both sides of the puddle- without anyone having to pull up roots.

    For example, I would be willing to consider teaming up with people stateside who can sell websites that we make over here. Let’s call it smart-sourcing. What do you think?

    S

  88. We just posted about the Recession and how it wont affect the Software Industry. I am curious to know your thoughts.

  89. We just posted about the Recession and how it wont affect the Software Industry. I am curious to know your thoughts.

  90. Recession-Proof Your Career with Proactive Career Management

    Recession-proof your career is an often-discussed topic these days with an array of experts promoting their theories and best options. In December 2007 Robert Scoble’s article Surviving the 2008 Recession attracted notice as the R word started to be b…

  91. Recession-Proof Your Career with Proactive Career Management

    Recession-proof your career is an often-discussed topic these days with an array of experts promoting their theories and best options. In December 2007 Robert Scoble’s article Surviving the 2008 Recession attracted notice as the R word started to be b…

  92. Recession-Proof Your Career with Proactive Career Management

    Recession-proof your career is an often-discussed topic these days with an array of experts promoting their theories and best options. In December 2007 Robert Scoble’s article Surviving the 2008 Recession attracted notice as the R word started to be b…

  93. Good blog. I have never seen stagflation in my 20 years here in the USA. It may be fine after November. Until then focus on your skill sets, and visit http://www.elance.com or http://www.Guru.com for extra work from anywhere.

    Explain your family about cutting cost postponing the purchases. Buy local [always good not affected by weak dollar]

    You can also can reduce your expense by using our cashback search engine http://www.aafter.com [sorry about shameless self promotion - but it is true]

  94. Good blog. I have never seen stagflation in my 20 years here in the USA. It may be fine after November. Until then focus on your skill sets, and visit http://www.elance.com or http://www.Guru.com for extra work from anywhere.

    Explain your family about cutting cost postponing the purchases. Buy local [always good not affected by weak dollar]

    You can also can reduce your expense by using our cashback search engine http://www.aafter.com [sorry about shameless self promotion - but it is true]

  95. Great advice. I have not personally felt the effects of the downturn other than the higher fuel prices, but I can see it coming. We have been very fortunate, but I think everyone is going to be feeling it soon enough. You posted some great tips on how to weather the storm.

  96. Great advice. I have not personally felt the effects of the downturn other than the higher fuel prices, but I can see it coming. We have been very fortunate, but I think everyone is going to be feeling it soon enough. You posted some great tips on how to weather the storm.

  97. Invested in precious metals (gold and silver) eight years ago and now it’s more than tripled in value. Just sold most of it and have reinvested the profits like crazy in some really great stocks that are down for now. Will sit on that for the next 5 years, then wait for the usual inevitable cyclical economic rebound and sell. Should easily be able to retire then on what I make. Expected to reap a fortune simply by waiting this thing out and exercising a little foresight and patience.

  98. Invested in precious metals (gold and silver) eight years ago and now it’s more than tripled in value. Just sold most of it and have reinvested the profits like crazy in some really great stocks that are down for now. Will sit on that for the next 5 years, then wait for the usual inevitable cyclical economic rebound and sell. Should easily be able to retire then on what I make. Expected to reap a fortune simply by waiting this thing out and exercising a little foresight and patience.

  99. As a quick study of the Russian language, I agree that Russia is a great location to consider. As a software engineer and engineering manager, I have to warn fellow developers that the majority of jobs are going to be at a bank or casino.

  100. As a quick study of the Russian language, I agree that Russia is a great location to consider. As a software engineer and engineering manager, I have to warn fellow developers that the majority of jobs are going to be at a bank or casino.

  101. To who ever feels the urge to start a web page with me on the issue of the Recession please feel free to contact me. I own a few domain names one being http://www.recessionrecovery.com. I have many offers from different large companies to purchase the name. I would rather take a risk and start a blog page and sell ads and so forth. I am not bragging but I have started numerous businesses all being a success. It’s all about TEAM WORK and being 1 step ahead of everyone else. Why should we let the same large companies profit at our expense? Feel free to contact me at jeremyeckdahl@yahoo.com

  102. To who ever feels the urge to start a web page with me on the issue of the Recession please feel free to contact me. I own a few domain names one being http://www.recessionrecovery.com. I have many offers from different large companies to purchase the name. I would rather take a risk and start a blog page and sell ads and so forth. I am not bragging but I have started numerous businesses all being a success. It’s all about TEAM WORK and being 1 step ahead of everyone else. Why should we let the same large companies profit at our expense? Feel free to contact me at jeremyeckdahl@yahoo.com

  103. Global Recession is already here.Depression is not going to happen by definition you can not have another depression.So all the god people and weird morons stfu, there is not going to be a depression.
    Only people who are suffering are the greedy people who took out to much credit debt.It will fix up mid 2009 and be running again smoothly mid 2010.

  104. Global Recession is already here.Depression is not going to happen by definition you can not have another depression.So all the god people and weird morons stfu, there is not going to be a depression.
    Only people who are suffering are the greedy people who took out to much credit debt.It will fix up mid 2009 and be running again smoothly mid 2010.

  105. Hey Bill,,,you are the only one of the previous 89 statements that say it will end (mid 2009). We HAVE to believe it will end. I believe it, but I have to..if not, what do we have to look forward to. I DON’T want to think about that one.

  106. Hey Bill,,,you are the only one of the previous 89 statements that say it will end (mid 2009). We HAVE to believe it will end. I believe it, but I have to..if not, what do we have to look forward to. I DON’T want to think about that one.

  107. I strongly agree with the sentiment of finding more investors in the overseas markets. I work and train in the real estate space and when you begin looking at the ‘glass is half full’ end of the world…what you see is that there is a MASSIVE SALE going on in the US. Why is it than when the wife see’s a big “SALE” sign at a local store there is a pleasant ‘ooo and ahh’ but when we see a big “SALE” sign on property people have a different psychological response? ;-) Just a thought…of course there are many other not so great things in the waters…I say focus on providing solutions to a lot of people that need solutions and you’ll be just fine….whatever market or industry you’re in.

  108. I strongly agree with the sentiment of finding more investors in the overseas markets. I work and train in the real estate space and when you begin looking at the ‘glass is half full’ end of the world…what you see is that there is a MASSIVE SALE going on in the US. Why is it than when the wife see’s a big “SALE” sign at a local store there is a pleasant ‘ooo and ahh’ but when we see a big “SALE” sign on property people have a different psychological response? ;-) Just a thought…of course there are many other not so great things in the waters…I say focus on providing solutions to a lot of people that need solutions and you’ll be just fine….whatever market or industry you’re in.

  109. Every year has spring and this financial winter will also turn into financial spring at least to America. Other third world countries may find it lingering longer. People wake up! If this rolls over the fence, we can say we had the world war III.

    My tip;

    20.. Read Scobleizer.

  110. Every year has spring and this financial winter will also turn into financial spring at least to America. Other third world countries may find it lingering longer. People wake up! If this rolls over the fence, we can say we had the world war III.

    My tip;

    20.. Read Scobleizer.

  111. It is up to you to go learn as much as possible about your source of income and how to produce more or when to be prepared for a business blow. If you are an expert then it is needless to say that lots of people will be looking for you.

  112. It is up to you to go learn as much as possible about your source of income and how to produce more or when to be prepared for a business blow. If you are an expert then it is needless to say that lots of people will be looking for you.

  113. The French government is very socialist. I would not be surprised if you were charged $50 for a tart in Paris, especially not until you received the bill unknowing of the charge beforehand. At the very least they should stamp a Louis Vuitton, LV, symbol on that tart!

  114. The French government is very socialist. I would not be surprised if you were charged $50 for a tart in Paris, especially not until you received the bill unknowing of the charge beforehand. At the very least they should stamp a Louis Vuitton, LV, symbol on that tart!

  115. Hi, I read your blog and it has some wonderful ideas! I actually have a blog that deals with surviving the recession and also offer a 5.00 book for download that is slam full of information! Its very common sense and down to earth…hope some people check it out! recessionsmart.blogspot.com

  116. Hi, I read your blog and it has some wonderful ideas! I actually have a blog that deals with surviving the recession and also offer a 5.00 book for download that is slam full of information! Its very common sense and down to earth…hope some people check it out! recessionsmart.blogspot.com

  117. Thanks, this host of information on the recession (possible recession) just helped me with my work today. I’m a PR practitioner.

  118. Thanks, this host of information on the recession (possible recession) just helped me with my work today. I’m a PR practitioner.

  119. It is very interesting reading through all the comments that have been made since this post was published. i particularly like #17. Unfortunately the recession is here to stay for a while. Up until the 1960′s the average US recession lasted for about 4 years. In more recent times they have lasted for about 2 years. recessions have been shorter because of more government intervention. Unfortunately, i think there are too many systemic issues all competing for our governments attention. So, we are going to be in this for a few more years.

  120. It is very interesting reading through all the comments that have been made since this post was published. i particularly like #17. Unfortunately the recession is here to stay for a while. Up until the 1960′s the average US recession lasted for about 4 years. In more recent times they have lasted for about 2 years. recessions have been shorter because of more government intervention. Unfortunately, i think there are too many systemic issues all competing for our governments attention. So, we are going to be in this for a few more years.

  121. Listen folks! The way to beat out a recession is to start in our own communities. Have fund raisers like talant shows, short children plays ect and don’t charge an arm an a leg! Take that money and help those families that need help with food, heating cost and transportation. Hell if you drive a corvette you can afford to donate monthly to a local charitible organization in a poor community.
    Look in the mirror and be honest with yourself asking “Am I Really Valuable To My Fellowman?” Only God, you and that mirror will know the answer.
    God Bless You All

  122. Listen folks! The way to beat out a recession is to start in our own communities. Have fund raisers like talant shows, short children plays ect and don’t charge an arm an a leg! Take that money and help those families that need help with food, heating cost and transportation. Hell if you drive a corvette you can afford to donate monthly to a local charitible organization in a poor community.
    Look in the mirror and be honest with yourself asking “Am I Really Valuable To My Fellowman?” Only God, you and that mirror will know the answer.
    God Bless You All

  123. [...] Surviving the 2008 recession Posted by root 7 minutes ago (http://scobleizer.com) Dec 15 2007 see where you stand in the story line that advice comes as part of a he work at home depot which would seem to be highly vulnerable to a recession the housing crunch rex hammock i think your advice is sound however check out www recession2008 Discuss  |  Bury |  News | Surviving the 2008 recession [...]

  124. Excellent article and very valuble information there for most if not all of us. In light of the hard economic we are currently facing with the credit crunch your article is still relevant. At present the freelance industry in general has seen a large surge in activity. This could be useful for IT professionals, writers, programmers and similar who could use some work to bide their time.

  125. Excellent article and very valuble information there for most if not all of us. In light of the hard economic we are currently facing with the credit crunch your article is still relevant. At present the freelance industry in general has seen a large surge in activity. This could be useful for IT professionals, writers, programmers and similar who could use some work to bide their time.