You can and should be able to become recession-proof in one month
Don't be another statistic of loss, rather become a specific story of growth
Recessions are cyclical, inevitable, and good for a healthy economy in the long run. They are made worse by foolish government policies. Putin’s war in Ukraine and the massive disruption in energy flows and food supplies in an increasingly interdependent world are making things much worse.
Another frustrating reason this coming recession is predicted to possibly descend into a market crash is inflation, mostly caused by a shortsighted response to the COVID-19 pandemic. Around 40% of all of the US dollars printed in the history of the United States were printed in the last 2.5 years and distributed as “stimulus” and “support” by the US government guaranteeing a major market correction.
“Inflation is in effect a hidden tax. The money that people have saved is robbed of part of its purchasing power, which is quietly transferred to the government that issues new money.” Thomas Sowell
So yes, while recessions and market crashes do happen to us for no fault of our own, I still choose to look at them as a sobering wake-up call. Recessions force us out of the inertia of business-as-usual into a reassessment of our lives and how we spend our most creative and productive energy.
Every single recession in US history has been followed by accelerated and extended economic growth. This means on a personal level, a market crash is also an opportunity for rapid and extended growth. Whether we are going to be a statistic revealing the losses of a recession or a specific illustrating the source of rapid and healthy growth is up to us.
Basically, I would prefer for the recession not to happen to me. I would rather be one of the many flexible, energetic, creative people who happen to the recession. Another term often use, coined by the brilliant Nassim Nicolas Taleb, is Antifragile. A state where obstacles actually make you better and stronger.
In this episode of Headspace, I introduce ways to become recession-proof as quickly as one month. It’s easier than you think.
Enjoy. Don’t forget to subscribe, share and comment. Thank you for following Headspace.