The Next Great Recession Could Mean The New Great Depression... Be Prepared Now

By Arthur W. Weiss

It took a long time for the recession of 1929 to turn into a Great Depression that spanned over 12 years.

So when the government declared the recession was over some months ago, it was difficult to for me to believe. I have the fortunate opportunity to talk business and middle class economics with many of my web and SEO clients. Not everyone believes the recession ever ended.

Today the stock market took the biggest single-day dive since the Fall of 2008, the beginning of 'the Great Recession'. On the heels of Congress and the President´s argument over whether or not to raise the debt ceiling, the S&P downgraded the United States´s pristine AAA credit rating for the first time in 94 years.

Amassing a 14.3 trillion dollar debt, a number that is only slated to rise over the coming years, the United States´s major lack of economic growth, lack of consumer demand, continuing unemployment, and the government´s admission that America will have to continue to borrow money from foreign countries to finance its existence and operation- have all contributed to the events which have transpired in the month of August, 2011. This could be the beginning of another recession.

The United States dollar is the world´s reserve currency and has been historically seen as a safe haven asset, but other countries are already demanding a new currency to which to peg the rest of the world´s currencies. With Quantitative Easing 1 and 2 which occurred during the first two years of the recent recession, the United States´s willingness to print extra money to stimulate the economy, basically printing money out of nowhere, has caused stocks to rise and the value of the dollar to fall.

But the rising stock prices may not reflect much more than numbers at this point. Even the former Fed Reserve Chairman Allan Greenspan seems to think the U.S. can always pay back debts because 'it can simply print more money'- this idea seems absurd to most people with even a little common sense. How long will the rest of the world sit by and let this go on? Not forever.

We´re now seeing the effects of these policies, how the world and markets are reacting, and it´s looking like another recession is forming on the horizon.

I don´t claim to have all the answers, but here´s my advice as to how to prepare yourself emotionally, spiritually, and interpersonally for the coming 2nd recession. As a matter of historical fact, the Great Depression initially started as a double-dip recession.

*Work your job hard, love your job and continue to learn and improve. Look for new ways to make your time more efficient. Focus on being more productive every day.

*Treat others with love and respect. You never know who might help you one day or how generosity and kindness will help others or yourself.

*Be and stay positive. Have faith in yourself and a Higher Power. Love your friends, spouse, family, kids, even show love to people you don´t know.

*Visualize freedom, happiness, and a world that you would love to live in. Then work to get there. Be grateful for every positive thing in your life and in your day. Create a positive mindset and flow of energy, create positive emotions within yourself and it will spread to others. Don´t let negativity stop you, slow you down, or give up.

If things get really bad, then people will no longer be able to rely on the historical prosperity of the past years of America. We must focus on creating value, and not worry about money. Life is so more than printed money.

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