Honestly, I am sad with these events going on even if I am not American. This recession thing is as real as sunlight now even if people opt to wearing shields.
i think you received a correct email. this is 100% true. its just beginning. govt spend billions of $ to support financial institutions. hmm whereas i know total loss due to subprime is more than 10000 billion $ and govt. gives only 1000 billion $ collectively to control crysis. hmm it will slow down the recession only. here In India - many stocks comes below from their listing prices. for example a stock is listed at 5 $( 200rs) but now its price is only not even 1$(35rs only) and still falling.
1. Don't take any loans; buy homes, properties with loans, or even cash. Keep as much cash as possible. this ? i have no idea, if the property drop lower, i will buy more, holding property will be better then keeping cash ..... 2. Pay off as much of personal loans, private loans, as debt collection will be hastened. Pesonal load ? bank loan ? 3. Sell any stocks you can even at lower prices. Do u have any ? i willing to buy .. 4. Take money off from Trust Funds. Yah take it out, declare 50% lose, economy down another 20 % lose, when market up my purchasing power drop another 10%, money in trust fund, i might stay a chances to hit when the market rise ..... if trust fund market collapse (worst recession), your cash won't give u any extra value... 5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities. Any item for sale ? i believe in sales, domain for 1 dollar ?? i need it .. 6. Don't invest in new capital. 7. If you are selling homes/ properties/ cars, do it now, when you can get good prices, they are going to fall. 8. Don't invest in new business proposals. I do invest more, recession is turn key point for more webmaster. to client : They can't afford Paper Media? TV media ? Radio Media ? come to us, web media, cheaper solution .... 9. Cancel holiday plans using credit cards. I plan on more holiday, finally my dream holiday come in cheaper prices ... 10. Don't change jobs, as companies will retrench based on 'last in first out'. If u r smart, u can turn last in to last out ..... I follow the ten rule but with my own way, recession is a turning point for most people, is totally depend on your ability and what you strong in ...