Personal Survival in Recession
By Andrew Ferguson
Recessions are likely every 7 or 8 years, and almost certain every 14-16 years. Depressions are likely to come around every 56 years. The last one was due in 1987, but we just had a long, deep recession 1989 – 1992. The latest emergency (2008 – 2011) is much the same. We are due another moderate recession in 2016 - 2018 (just after the election), and a much deeper problem in 2024 - 2026. This one might unravel into a repeat of the 1929 – 1931 depression, but we are tending to get longer, deeper recessions rather than complete depression.
Recessions happen because governments and banks are addicted to unsustainable economic growth, we happily go along with it and there has to be a periodic correction. The worse the excess, the deeper the correction. But also the more we avoid retribution (as we have tried to 2008 – 2011), the worse each subsequent recession will be. We just defer the inevitable.
The personal strategy that will get you through all this is summarised here.
Trust: This too shall pass. Economic life is cyclical, and we will emerge from this, if we learn the lessons and start to live within our means, and in harmony with the planet.
Think positive: Whatever happens, look for 3 positives first; your negative mindset will give up and leave you in peace. Put joy first.
Collaborate: Rediscover the sense of community materialism destroys. Find 7 things to do together that are (virtually) free, including gentle exercise.
Share: It may make sense to let go the house and bunk up with a neighbour. There’s no sense in both families going down. (I had to let my house go the last time this happened; I’ve been there.)
Go green: Cut back your consumption and live lightly on the planet. Make things last longer – clothes, cars, furniture, equipment. Those weird hippies and greens have been saying this for at least 50 years; find one! They also have the social and economic policies to minimise the effects of this cycle.
Let go: What are you most attached to? Attachment causes suffering. Letting go of stuff and bad feelings is good for your personal growth. The less you have, the higher your self-esteem.
Prepare: The next recession is due 2016 - 2018; we could avoid the worst of this with intelligent government and environmental responsibility, but a (deep) recession in 2024 - 26 is more or less guaranteed, because we will forget this. Expect the best; prepare for the worst! In the 5 years between recessions, maximise income and keep spending under control.
Build a reserve: Whatever’s coming in, put £100 a week in a tin, and manage on the rest. The golden rule of money is “Don’t run out.” The banks broke this rule, responding enthusiastically to pressure from a (well-meaning but politically correct) US government, which is why the situation is so dire now.
Spend more: Yes, divert your spending into things that support your personal growth and build your community. Divert the money you used to spend on chasing a lifestyle of excess.
Meditate: There is a very wise person living inside you. Sit quietly with yourself, listen and ask to be shown. Be patient – this may take time!
Sanity: Repeating the same thing over and over again and expecting a different result is insanity. The alternative is to get honest with yourself; acknowledge how you contribute to your present situation, how you get in your own way and change.
“If we focus on what is right for the environment, we will get economics right” (Andrew Ferguson: Creating Abundance 1992 - now available to download as LifeShift Book 5 on www.LifeShift.co.uk, where there’s also a free LifeShift programme.)
Andrew Ferguson: December 2008 (with minor editing September 2011)
Andrew Ferguson
Chartered Marketer MA(Oxon) FCIM FIC SFEDI
Enterprise Development Specialist
t: 020 7473 5544 e: [email protected]
www.BreakthroughNetwork.Net www.Twitter.com/LifeShift
Andrew Ferguson
Chartered Marketer MA(Oxon) FCIM FIC SFEDI
Enterprise Development Specialist
t: 020 7473 5544 e: [email protected]
www.BreakthroughNetwork.Net www.Twitter.com/LifeShift
This article was posted by Andrew Ferguson
