| Year 2007: Year of recession? |
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nkthen
Full Member
Cash: $ 9.90
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Joined: 16 Mar 2006
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| Year 2007: Year of recession? |
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I remember in 1992, my Economics lecturer told me that there will be one economic recession once every 10 years. The scale of recession can vary but there seems to be such a pattern.
Last recession that I remember was 1987-1988. I was still a kid then.
The next recession was in the year 1997. I was still serving (and fed by) the army.
This is the year 2006. Next year is 2007, that's 10 years and if my lecturer is right, I would expect a recession next year.
So what the heck has it got to do with you?
Yes, there is. This means that:
1) If you are making quite a bit of money, get ready to save up. Just in case the recession will affect Internet sales.
2) If you are just starting out or still reading and playing around, better START WORKING NOW!
Whadda think?
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Wed Jun 14, 2006 5:45 am |
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Kiaser
Senior Member
Cash: $ 43.05
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Joined: 12 Apr 2006
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quote:
Originally posted by coaster
That being said, your advice to prepare for tough times is excellent advice regardless of whether recession is right around the corner or not. 
Preparing for tough times should obviously be a priority for anyone that is concerned about their well-being. However, recessions come and go, as the economy constantly goes up and down. It would be nice if the economy was a straight line that slightly moved upward, but instead we are stuck in a constant phase of roller coaster rides. That being said, don't worry too much about recessions, base your financial security around putting your money in the various places needed so that no single event can cause a devastating affect on your finances.
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Wed Jun 14, 2006 3:02 pm |
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