Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare

cnbc via msn ^ | 5/20/2021

[roadcat]

Bad times for those retiring now. But for young investors, some good information:

"The best days in the stock market generally follow the worst slumps, so if you continue to put money in even when prices are going down, you’re setting yourself up for major gains on the upside."

"“A dip is your best friend,” she said. “So, buy the dip, take advantage of the fact that prices are low right now and don’t try to time the market.”

[RomanSoldier19]

um crash will be 90%

they better wait

[BRL]

The economy did not make a great recovery after covid 19. It was just masked.

[dfwgator]

We’re pretty much already there, don’cha think?

[Billthedrill]

There’s dips and then there’s dips. The one in 1929 lasted for ten years.

[roadcat]

There’s dips and then there’s dips. The one in 1929 lasted for ten years.

True, but that was the fault of Franklin Roosevelt. Can Biden be worse? (Scary thought, because we all know the answer.)

[sergeantdave]

“Here’s his advice for how to prepare”

The list:

1. Eat more hamburger.

2. Burn your credit cards.

3. Don’t refinance your home.

4. Don’t go to Ukraine.

5. Trust the government and buy I-bonds.

[reformedliberal]

Here’s my list:

Use it up, wear it out, make it do, or do without.

Start collecting recipes that only use cabbage, onion and potatoes.

Learn to make toiletries and simple remedies.

Can, dehydrate and otherwise preserve all excess or whatever is on sale that can somehow be stored.

Clean with vinegar or ammonia or alcohol.

Only wear shoes outside so they last longer.

Learn to do everything that you have been paying service providers to do.

Recycle, reuse, repurpose.

Thermostat at 55 in winter and 78 in summer.

Put out cheap solar lights in the daytime, bring them in and use them at night.

Shower weekly.

Wash only full loads and dry outside when possible.

Garden. Forage. Hunt. Raise what animals you can.

Invest in an electric bicycle.

Make use of a hot oven by baking while you cook dinner and after the oven is turned off, utilize the residual heat to dehydrate whatever you’d normally use a dehydrator for.

Learn a craft that utilizes scraps.

Study recipes, preservation methods and workshop techniques originating in the Caucasus. (Seriously. These people are geniuses at using everything and doing whatever needs heat over an outdoor wood fire.)

There’s more, but others can add their own.