LOVE A RECESSION
How to Prosper
During an Economic Downturn
More Than 101 Silver Linings
to Today's Economic Recession
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YOUNG GUY AT
WORK:
This
is my first recession. How worried
shoud I
be?
WALLY
THE OLDER WORKER:
You'll be fine as long
as you don't have any hopes or
dreams.
- First two frames
of Dilbert Cartoon by Scott
Adams
Nothing is as inevitable as a
recession whose time is long overdue. A recession is
obviously upon us, which means fewer corporate jobs and
sinking consumer confidence. But a recession is not all bad,
trust me. I have lived through several.
There are many benefits of a recession that
are overlooked by the majority. Economic turmoil can bring
out the worst … and the best … in people. If you want it to
bring out the best in you, a recession is a time to build
some real character. Surviving happily through
uncertain times takes courage and wisdom. Recessions are all
about survival of the mentally fit.
Little minds are tamed and
subdued by misfortunes; but great
minds rise above them.
- Washington
Irving
Whatever you sow, you reap. If you want to
make the U.S. ecomonic recession a bad thing, it becomes a
bad thing. If you want to look at the U.S. economic
recession as a good thing, it becomes a good thing and you
will become an expert on the benefits of an economic
recession. Remember that the harvest you reap will depend
upon the seeds that you plant.
An independent
trader writes
20 Reasons Why I Love a
Recession.
In adversity, there is always opportunity
- at least for those individuals willing to see
it and motivated enough to capitalize on it. Indeed, the
Chinese words for crisis and opportunity are the same. This
is why I have created a book called
101 Reasons to Love a
Recession.
The pessimist calls
it the "Depression."
The optimist calls it the
"Great Depression."
- Jim Martin in February 22
Mr.
Boffo cartoon
Sure, the present U.S. recession has hit me
economically on several fronts. For instance, my
international bestselling book
How to Retire Happy, Wild, and
Free which has had
sales of over 110,000 copies in the first 4 years has seen a
drop in U.S. sales that surprised me, particularly on
Amazon.com, simply because U.S house prices have dropped
dramatically and many U.S. baby boomers are consequently
delaying retirement. This has impacted my income quite a bit
- but not for long because I intend to eventually
benefit from this recession and make even more income than I
have been making.
I am also a little money short due to losses
of about $50,000 in my retirement portfolio. In the grand
scheme of things, losing $50,000 is not that big a deal,
however. In the recession of the early 1980s I lost
everything and recovered.
In a materialistic world, prosperity is
unfortunately and invariably associated with hoards of money
and countless possessions.
To the truly prosperous people of this
world, prosperity is prosperity in its purest and original
sense. Prosperity comes from the Latin word "spes", which
means “hope and vigor.” To the truly prosperous person,
being prosperous means being positive and happy in the
moment, regardless of the level of wealth one has
acquired.
Look for opportunities and you will
find them, yes even in a recession. Trust me, the benefits
of a recession are there.
As
reported in The Globe and
Mail on
January 17, 2009, self-employment tends to swell when an
economy sours and people are thrown out of work. Yet
economic research shows people forced into self-employment
after a layoff tend to make the most successful
entrepreneurs.
Also reported by The Globe
and Mail:
The Silver Lining to the Recession - Doctors Are Broke
and Can't Retire!
These are the benefits of
an economic recession according to Author and
Motivational Speaker Joshua Seth: "It (a recession) need not
affect us negatively:
-
Many
fortunes are made in
recessions.
-
Many
families are brought together during tough
times.
-
Many faiths
are renewed."
"Look for the silver lining. More
fortunes are made during economic downturns than during times
of robust growth. Less people are looking for opportunity
during times of economic hardship because their basic human
needs are not being met. With less competition comes greater
opportunity."
Similarly on another website: "What do
Microsoft, Hewlett-Packard, and Disney have in common? They all
started during economic downturns, as did more than half of the
30 companies that comprise the Dow Jones Industrial
Average."
Check out:
14 Big Businesses That Started in a
Recession
Please God, just one more bubble, and I
won't be such a fool with my money
again.
- Unknown wise
person
Here are some of my insights to
the benefits of a recession:
Top-10 Benefits
of a Recession That Are Party to the Book 101
Reasons to Love a
Recession
- Over the last decade
or two it's been hard for most Americans to tell where
dreams leave off and reality begins - which is, in
fact, one of the major causes of the recession. But the
recession along with the credit crunch will bring more
reality into their lives as they realize that can no
longer buy things with money they haven't earned and
are unlikely ever to earn.
- As a pyschiatrist you can really milk your best
accounts - the people who are paying - during a
recession because your patients are going to be coming
in a lot more due to their depression from the fear
that the recession may become a depression.
- Another way to tell
when your life hasn't reached the peaks that you had
expected is when the Sheriffs come to throw you out of
your foreclosed house. But look on the bright side. You
won't have to hire any of those expensive plumbers
anymore.
- Dire domestic financial consequences may finally
get your nagging wife to leave you for some pretentious
rich guy. You can joyfully announce to your friends,
"Some rich bloke stole my wife - and to get even I
let him keep her."
-
An
economic recession is the best of times to put
your creativity and motivation to the test.
Anybody can make it when times are good
- but to make it big during an economic
downturn is the sign of someone truly
innovative.
- Perhaps you are one
of those big-time promoters who has hit the skids. Buy
high, sell low - you really rode that silly
strategy right into the toilet, didn't you. You can
still be grateful for your position in life, however,
regardless of how much equity you lost. Putting things
in the best possible way, the bum you see by the
junkyard still has it tougher than
you.
- Many North Americans will finally lose a bit of
weight because they will be forced to quit being so
piggish with their food. It's about time, given how
sadly obese America has become.
- A recesson is a great opportunity to put to rest
the idea that retirees can consume themselves to
happiness by having a two or three-million-dollar
portfolio and using it to purchase a fun-filled
retirement full of material goods and expensive
activities such as exotic vacations. A severe recession
will help many people see that happiness can be
experienced through engaging work, volunteering,
helping others, and spending more times with their
friends.
- It wasn't that long
ago that Will Rogers advised, "Try to save money.
Someday it may be valuable again." The great thing is
that recessions pressure individuals to reduce spending
and learn something about "saving" - which
is a word that is foreign to many Americans and
Canadians, but soon won't
be.
- Talk about credit crazed - the average
American household owns 13 credit cards, and 40 percent
of them carry a balance, up from 6 percent in 1970. The
good news is that the no-money down mentality may not
be so pervasive any longer - hopefully it will be put
to rest forever.
My family wasn't affected by
the crash of '29. They went broke in
'28.
- Gerald
Barzan
From a Squidoo Lens Maker:
5
Benefits of a
Recession
:
- It makes you wiser
- It makes you think out of the box
- It makes a decision maker out of you.
- It makes you appreciate what you have.
- It forces change
Here are the top-10 reasons to love a recession
according to some serious-minded people who have written about
this on the Interent:
Top-10 Reasons to Love a
Recession According to Jay McDonald at
Bankrate.com:
- Family dinners
- Shorter gas lines
- Less junk mail
- More coupons
- Free fitness
- Bargain SUVs
- Business startup opportunities
- Growth in gardening
- Musical inspiration
- New perspectives
More Ways to Benefit
from a
Recession According
to the
Other Internet Postings by Various Media &
Individuals
- A recession is a
great time to go back to school to upgrade your
education. A recession is temporary, an education is
permanent.
- If you are shoe maker or a tailor, you will have
more work, taking in more peoples' shoes and trousers
at your business.
- A comment after an
article about the recession: "I love that there is less
traffic on the road. Hey, the air may even be
cleaner!"
- Time magazine recently speculated
that the housing mess and contracting credit will
inspire Americans to live within their means. This
could dispel a lot of people from the philosophy of,
"Who wants to wait until you can afford it to buy
something?"
- If you are a mechanic, you will have more work for
years to come. Kiplinger recently stated
that auto repair shops are booming because consumers
are putting off buying new cars.
- This is a great time to have your house renovated.
Contractors are bending over backward - even for
small jobs like bathroom renovations and cabinetry
- as the housing slump infects the remodeling
industry. That gives homeowners the upper hand in price
negotiations.
- Falling house prices
makes homes more affordable for people who have the
money to purchase them. What's more, it is much easier
to find a house in a highly desirable
area.
- Normally the fools and their money are separated
when a downturn hits the economy and overlevereged
positions have to be closed out. It's always curious
how these fools and their money got together in the
first place.
- There will be fewer credit card offers in the mail,
which will help curb the use of credit cards.
- Another comment on a website: "To high income
earners who once moaned incessantly about being 'cash
rich, time poor' but have now lost their jobs, you will
be able to say: 'Congratulations! You’re now cash poor,
time rich. How does that feel?' "
Excuses, complaints, envy,
disdain, and dejection invade the mind
when nothing positive and empowering
fills it.
- Tim
Ferris
Here are some more of my insights relating to
the positive benefits of a
recession:
Benefits of a
Recession That Didn't Quite Make the Top
101 Reasons to Love a
Recession
-
At cocktail parties people used to brag about how
much money they made in their investments. Now at
some cocktail parties people brag about how much
money they lost. This means that you can
be a big cheese if you squandered a huge fortune in
the stock market.
- If you work in the factory
making SPAM (the canned so-called meat that most people
hate but some people love), you are working a lot more
overtime because the factory can't keep up with the
demand for low-priced meat that the recession has
created. What's more, you may be
eating more SPAM because of the recession - and if
you love SPAM this is a great
thing.
- Over the last decade or two it's been hard for most
Americans to tell where dreams leave off and reality
begins - which is, in fact, one of the major
causes of the recession. But the recession along with
the credit crunch will bring more reality into their
lives as they realize that can no longer buy things
with money they haven't earned and are unlikely ever to
earn.
- If you think of
yourself more a lover than a worker, the extra free
time that you gain during a recession can be put into
steamy sexual encounters of the outrageous kind that
would even do Hugh Hefner proud.
- As a person who
doesn't like work and who instead likes to live off the
system on welfare and other government handouts, you
now have a pretty solid excuse for not having a
job.
- Even more important, if you get laid off, you have
more time on your hands to get laid, something you have
been meaning to do for a long time, but have put off
because you were working so many long and hard
hours.
- Due to your being laid off, you no longer have to
attend corporate meetings which were a colossal waste
of time notwithstanding that you were a person who
didn't produce much anyway. That is why you were one of
the first employees to be laid off, wasn't it. The
bright side is that your sense of helplessness about
being unemployed makes your uselessness seem
unimportant.
- A recession will stop the accumulation of excessive
credit-card debt, and the myth encouraged by dubious
bankers and economists telling the public that
"deficits and debt don't matter." One would think these
seasoned veterans should know better - in good
times or bad.
- If you are a drug dealer, you are getting a lot of
satisfaction from seeing that many legitimate
businesess are finally seeing the light by adopting
your important business principle of disallowing any
credit purchases and accepting "cash only"
purchases.
- Actually, this one has been borrowed from the blog
of Dilbert creator Scott Adams:
America has become less
arrogant than it was during the boom
times.
Ahh the sweet sound of capitalism crashing, the
fondest wish of my lifetime. Less money, less
stuff, less pollution - all good.
-
Recession Post by an Australian citizen in
response to an article about how the recession
was affecting Australian
retirees
We are a very inventive nation, but we often
fail in the implementation. This [economic
recession] will force or encourage people to
take good ideas and run with them.
- Elspeth Murray, Queen's Centre for
Business
Venturing
Footnotes: Also See:
Jay McDonald at
Bankrate.com
Copyright 2010
by Ernie
Zelinski
All Rights
Reserved
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