{"id":43199,"date":"2019-01-26T14:13:17","date_gmt":"2019-01-26T19:13:17","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43199"},"modified":"2019-01-26T14:13:21","modified_gmt":"2019-01-26T19:13:21","slug":"a-recession-survival-guide","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43199","title":{"rendered":"A Recession Survival Guide"},"content":{"rendered":"\n

A Recession Survival Guide<\/a><\/h3>\n\n\n\n

The funny thing about slashing your budget to survive a recessionary storm is that it works wonders whether the recession is deep or shallow. <\/em><\/p>\n\n\n\n

We know that after 10 years of expansion, a recession is baked in.<\/strong> Trees don’t grow to the moon, etc. <\/p>\n\n\n\n

We also know that some people will hardly notice the recession while others are devastated.<\/strong> I addressed this in The Recession Will Be Unevenly Distributed<\/a>(January 10, 2019). A retiree on Social Security and a bit of income from Treasury bonds isn’t going to be affected much, and a power couple in Washington DC who are high up the food chain in the federal government will also shrug off the recession.<\/p>\n\n\n\n

What we don’t know is what kind of recession we’re going to get.<\/strong> It’s been almost 40 years since the U.S. experienced a “real recession,” i.e. a downturn that was severe and not limited to narrow slices of the economy.<\/p>\n\n\n\n

The recession of 2008-09 was over before it started, and the damage was largely limited to the speculative housing-mortgage sectors and finance and everyone who was over-leveraged in the housing market.<\/p>\n\n\n\n

The recession of 2000-02 was limited to the tech sectors that were exposed to the dot-com meltdown and investors in speculative dot-com companies. <\/p>\n\n\n\n

The recession of 1991-92 was brief and shallow by historical standards.<\/p>\n\n\n\n

The “real recession” of 1981-82 laid waste to numerous sectors and spread devastation throughout the economy.<\/strong> Interest-sensitive industries were crushed, and this impacted sectors such as government that are typically impervious to recessions.<\/p>\n\n\n\n

Even further back, the Oil Shock recession of 1973-74 was also an economy-wide upheaval.<\/p>\n\n\n\n

Those pundits who aren’t denying a recession is baked in are busy assuring us it will be a mere slowdown.<\/strong>\u00a0What the well-paid pundits of the status quo can’t or won’t discuss is the economy’s fragility and vulnerability to self-reinforcing declines.<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

A Recession Survival Guide The funny thing about slashing your budget to survive a recessionary storm is that it works wonders whether the recession is deep or shallow.  We know that after 10 years of expansion, a recession is baked in. Trees don’t grow to the moon, etc.  We also know that some people will hardly […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,7],"tags":[127,587,1264,24157],"class_list":["post-43199","post","type-post","status-publish","format-standard","hentry","category-economics","category-survival-2","tag-charles-hugh-smith","tag-of-two-minds","tag-recession","tag-survival-guide"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43199"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43199\/revisions"}],"predecessor-version":[{"id":43200,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43199\/revisions\/43200"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}