When economic downturn hits... What's your backup plan?

Tuesday, April 29, 2008 - 12:00 AM

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?

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Comments [11]

Steven M

As a white male laid off two weeks ago and denied unemployment benefits, my plan is a two step approach. First, I will get very angry, then I will drink heavily. After that it's up in the air.

May. 01 2008 07:22 AM
Adam G

My mom and stepfather live on a collective farm down in North Carolina, where there's plenty of food, water, flowers, and sunshine. Plus, some of the nearby towns have local currencies based on bartering. So when the economy really starts to head south, so will I.

Apr. 30 2008 01:12 PM
Marc A. Pitman

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

Apr. 30 2008 11:23 AM
Rich Croteau

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.

Apr. 30 2008 09:32 AM
Dave

Backup plan? Save money by not renewing my membership with WNYC. The Takeaway is a terrible show - BRING BACK BOB EDWARDS ON MORNING EDITION!

Apr. 30 2008 08:46 AM
John G

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...

Apr. 30 2008 07:28 AM
wilson kidde

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.

Apr. 30 2008 07:06 AM
Karen

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

Apr. 30 2008 03:48 AM
Russ

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!!!!!!

Apr. 29 2008 09:51 PM
Josh L.

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.

Apr. 29 2008 08:46 PM
Richard Duffy

What do you mean"WHEN"? I've already decided no retirement. I need a second job there are no better jobs floating around. It's not getting any better if this country doesn't get up off it's lazy butt and change the what we're doing. Put the country into a "war time" mind set and get us off of OIL. We have the technology, just not the political willpower to make any changes. McCain's not going to do it and neither is Hillary. Obama might, but it seems like the people need to make it happen without the government's help. NOT easy, but the internet just might be the way to organize a complete revolution in what makes this world move and that's where the future is, if we don't want be left behind. "to arms to arms, the British are coming"

Apr. 29 2008 04:54 PM

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