Business and Economy , National
When economic downturn hits... What's your backup plan?
By Adnaan Wasey
April 29, 2008, 03:21 PM
The government has stepped in with an economic stimulus plan that returns $168 billion to taxpayers. The Federal Reserve continues to cut interest rates. Consumer confidence is at a five-year-low. And unemployment is at a two-year high. What's your plan to make ends meet when an economic downturn hits you?
#2 Posted by Josh L., April 29, 08:46PM
This downturn doesn't endanger college educated, healthy and motivated Americans, especially entrepreneurs. This is a rich country and we are fortunate. For the well educated and well raised, it's mostly a matter of walking out your door and choosing a direction, any direction.
#3 Posted by Russ, April 29, 09:51PM
What happened?!?!?! With so many professionals working together on this show, how did it turn out so LOUSY?! I can't get AM radio, so I'll be waking up to a CD tomorrow morning. . . . I just can't imagine sitting through that pointless BANTER again. . . . "And in a few minutes, we'll be hearing from a REAL FARMER!" . . . . AHHHHH!!!!! . . . What did the old ad used to say? . . . . Calgon, take ME away!!!!!!
#4 Posted by Cynthia , April 30, 01:29AM
We are not getting a penny from W. But this is what we have been doing in our family before this mess started:
we don't get cable TV
infrequent meals out
very little packaged food or junk food
we grow our own herbs and summer vegetables
mow our own lawn and rake our own leaves
clean our own house
the commuter drives a hybrid (50+ mpg last tank!)
we only buy cars when the old ones die
donate dead cars to the food bank for a tax benefit
opt for free health care (Kaiser) instead of a pay plan at work
sent our child to public schools
we are sending our child to a public university
had only one child
mom went to work part time instead of staying home full time
we mostly rent movies instead of going out
use energy efficient light bulbs
program heat low during the day and nights
we never take financial risks
pay off our credit cards every month
we put money in our savings and investments every month
we don't own a boat, RV, jet ski, snowmobile, SUV, time share, etc.
bought less house than we could afford
our only debt is our mortgage
etc.
As a result, we have money in the bank.
Cynthia
#5 Posted by Karen, April 30, 03:48AM
The whole economic downturn has been caused by speculation and greed and the whole crazy system we've been using. Now it's time for an alternative plan - and this will involve a new way of thinking, a shunning of the old ways and more community building concepts. As a futurist, I have been preparing for this time for a long time because I could see the writing on the wall.
My new book "AlterQuest - the Alternative Quest for Answers" offers a myriad of practical ideas which have been put into practice by individuals and communities all over the globe, and which have allowed them to overcome the hardships of the 21st century.
AlterQuest is also uniting people all over the world with its Global Network, which is a venue where everyone can exchange ideas and learn how to work together to shape a better world.
See: www.alterquest.org
#6 Posted by wilson kidde, April 30, 07:06AM
I was very upset at your 'joke' this morning on the takeaway about Obama and CLinton not being as ready as you at three in he morning. Let's not add WNYC and NPR to the list of news organizations who are trivializing the current Democratic candidates. This is possibly the most important election in the history of our Republic.
#7 Posted by John G, April 30, 07:28AM
My Plan B is to become an online vendor of custom-crafted limericks for all occasions. To wit:
The Takeaway Hosts they were two,
Who talked 'til their faces turned blue,
But of Morning Edition, they spoke no sedition,
"C'mon guys," quoth John, "we're just new."
We need new. I'm also hoping we need limericks...
#8 Posted by Dave, April 30, 08:46AM
Backup plan? Save money by not renewing my membership with WNYC. The Takeaway is a terrible show - BRING BACK BOB EDWARDS ON MORNING EDITION!
#9 Posted by Rich Croteau, April 30, 09:32AM
Well, I work for a BioPharmacuetical Company, and I’m a member of the Army National guard who Deployed to Iraq for 15 months in 06-07 .
My wife asked me the same question a few months ago when we were going through Mass layoffs.
I said to her , with a straight face…
There’s always Iraq or Afghanistan.
As long as we have a war, I’ll have a job.
#10 Posted by Marc A. Pitman, April 30, 11:23AM
I'm also encouraging nonprofits to recession-proof their fundraising by resisting the urge to get pessimistic, cut back on their fundraising, or to apologize when asking.
Times like these really show the generousity of Americans!
My article on recession-proofing your fundraising is available at:
http://www.pnnonline.org/article.php?sid=8116
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#1 Posted by Richard Duffy, April 29, 04:54PM