Good advice as far as it goes. But he is laboring under the assumption that this will remain a recession, albeit a severe one, and that when it is over things will go back to normal.
There are just too many horrible problems that were not in the mix in previous recessions. This time around it would be prudent to make some preparations for the scenarios that no one wants to admit are frighteningly possible.
I am investing with the assumption that the future holds at the least hyperinflation and possibly the complete collapse of the dollar. BLOAT.