Recession/Depression

It’s said when someone else is out of work, it’s a recession. When you yourself are out of work, it’s a depression.

If anyone is paying any attention to the news you’ve heard about drops in the stock market. Maybe you’ve also heard something about an inverted yield curve. Depending on who you listen to, the economy is essentially sound or about to head into a deep recession. If I had to give odds, I’d go with the later. Everyone must make their own assessment. Just remember, when the US was entering the Great Depression, businessmen and politicians said the economy was sound.

As far as I’m concerned, one should always entertain the possibility of economic downturn. They always happen sooner or later. By the way, they also tend to happen more often during a Republican administration. Don’t believe me; look it up for yourself. That’s one more tick in the possible recession column, if you are keeping score.

I grew up in a dying mill town. Our town often did poorly when the rest of the country was booming. Economic hard times feel pretty normal to me. They are no reason to panic. However, now’s the time to assess your preps. There might be a rather narrow window of time to get things in order. If you were waiting to get prepared for hard times, I’d suggest you sort it out sooner rather than later.

You might want to give some thought for this next recession to be deeper and last longer. Better to be over prepared than under prepared.

-Sixbears