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Are Your Worried About the Recession?
I am just wondering what everyone plans to do about the recession. How are you protecting your own finances?
Replies to This Discussion
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Permalink Reply by Nathaniel Scott on -
what recession?
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Permalink Reply by Nathaniel Scott on
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oh...didn't know. i've been listening to the Dave Ramsey show for the past several weeks and that topic has come up several times. A recession is defined as “a decline in a country’s gross domestic product, or negative real economic growth, for two or more successive quarters of a year." But as of just a few weeks ago the economy was still growing about about 1 1/2 to 2% (slower than it was, but still growing). so, even if since then the economy has started moving backwards, it has not been for two or more successive quarters and is therefore not a recession.
of course i'm not saying one can't be coming..it's just not here right now. and i'm not saying times aren't hard, especially for certain areas of the country.
anyway, I'm getting the heck out of debt first of all to protect my finances-recession or not. before that, i don't think there's much i can do. i'm just going to continue on with the babysteps.
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