Folks - a question out of sheer ignorance -- to potentially weather recessions, what are simple items that one can do?
Carry minimal debt and remain at a stable job? I am shaping up to where soon here I will only have a mortgage.
I always talk those recession talks with a grain of salt. I remember the dot com bust, people were saying it was going to crash back in 1996 but it took 4 more years before it finally crashed and when it did crash, it didn't crash back to 1996 levels and it did recover, but it was sideways for a while. Instead of a crash, you might have what we have now, goes up for a while, then crashes down a little bit, like that 10% mark, then goes back up again. And then repeats but in the end, you don't go up or down that much.There is an old says that goes:
Economists have predicted 10 out of the last 3 recessions.
If this indicator really was what you claim, all the money would clamor to get to safety and the markets would take a dive.
Are you correct??? Maybe.
Are you wrong??? Just as likely.
Well we already had a bear market two years ago and now we're already dipped into correction territory. The real question is how long it lasts. Let's hope it's not like Japan where it went on for decades.I’m pretty good at predicting these. I’m 99% positive the US will be in a recession at some time in the future.