Enough with this constant barrage of apocalyptic news and doomsday sentiment that just seems to permeate all nooks and crannies of the average office sphere! My heart goes out to all who are directly, inversely, or tangentially affected by these last few weeks of torrential demise of financial behemoths that have left many jumpy at the slightest rustle from the corner office. However at the risk of sounding insensitive or potentially borderline disturbing, I would urge all to stop dwelling on the irreversible damage of yesterday, instead, use your imagination to see the bright spots. Within every dark, heavy ominous cloud, there is plenty of silver linings to be found. Within the faltering of the national economy, I rejoice. The following are 5 positive reasons why I love economic recession, and so should you!
1. What doesn’t kill you makes you stronger, better, faster, smarter
Recessions are great for this reason. Frankly, I am really quite happy that I am in a recession. This is actually the first recession I have experienced since entering America’s workforce. I truly believe what one can learn and accomplish in terms of valuable business practices in times of reduced economic growth far outweighs those during times of growth. As traders like to say: “During bull markets, any monkey can throw money into the market and make money, however, it’s those that consistently profits when the times are bad that are the real winners.” During expansion, anything will yield reasonably good results. However, it’s really during recessionary periods, can one really distinguish the good business practices from the bad, the genius from the mundane. During recessionary period, the reduced growth and resource will force you to think outside the box, to innovate more, to strategize better, to watch your cash flow better, to account better, to move faster, to cut the fat, to run your operations tighter, and all around, to do everything better. This is why I love recessions, it builds character and forces you and your business operations to be on top of the game.
2. Learn the one key to success no one is telling you
There is one key element that all successful people know by heart, but something they all keep deeply guarded, well away from all their motivational media publications and speeches. If I were to write a book on the one essential element to success in life and work, the one essential element to establish longevity in business, it would be this “thing” no one talks about. And that “thing” is how to deal and plan for failures and calamities. Every successful person’s story is full of what seems to be a well-greased transition from one place of prominence to another, however what you don’t hear, what they don’t publicize, what they don’t want you to know is the amount of sweat and grit that goes into making sure that all their years of success isn’t erased by some unexpected stupidity or unplanned disaster. Being successful, isn’t just about putting all your efforts into all you can do, and should do in order to obtain that desired level of success. Being successful is more importantly about what you didn’t do, and what you couldn’t have done. Yes, these calamities might strike 1 in a million chances, however, once you are struck, it will obliterate all your years of time and efforts, and that’s something no amount of money can buy back. Using a natural physics law as an analogy, things fall way faster and harder then they go up. So yes, this is what I like about recessions, it makes you aware that you are fallible, that you are human, that you are at the mercy of something larger you cannot always control or foresee. It teaches that most important, yet often neglected road-to-success lesson of taking precautionary measures, before it’s too late.
3. All those that should be gone are gone
Most of the financial companies that leveraged to the sky back a few years ago when the fed was lax have recently became bygones of histories past. Most of the companies that conducted in negligent and predatory lending to uneducated consumers, who are absolutely ignorant of their risky behavior involved, have justly deserved their retribution. Other companies whose growth business model in actuality relies heavily on easy credits are now also suffering the inevitable set backs they must experience, that is, if their business is actually solid enough to weather the lack of constant cocaine injection courtesy of the easy credit. Point being, recession is somewhat like a massive epidemic, it afflicts everyone of our society, some are truly innocent bystanders who just happen to be at the wrong place at the wrong time, others, however, have practiced risky, unsanitary behaviors long before there was cause for alarm. In the end of the epidemic, those who are strong and substantial enough will have survived, and be better for it, and those who are decrepit due to their own previous misdemeanors are now long gone, leaving spaces wide open for survivors and new talents to try their destiny.
4. 2nd chance at life
In case your life and business isn’t going the way you envisioned, in case you have been stuck in a rut, in case you can’t stop wondering what would life be like as the guy/gal next to you. Now would be the time for you to stop day-dreaming and actually do something about it! Recession gives you a great way to reinvent yourself. During this period of unparalleled uncertainty and doubts, everyone is quagmired in negative sentiment and lowered expectation, to come out right now with bad news, to come out right now to say you have done wrong and admit to reformation would no be so unexpected. You would just be joining the myriad of other companies right now who are disclosing their troubled positions. Recessions are great as a scapegoat for everything and anything remotely related that might have gone awry right now. So don’t let the time pass by, seize the opportunity, come out and admit your change of heart. You do have the carte blanche to try your hands at another shot on life.
5. Plenty of opportunities for the picking
There is plenty of opportunities for the ones positioned and experienced enough to dive right in for some truly great opportunities. Housing prices have since came down from their uber-inflated prices and are at an all time low. The S&P is at a reasonable forward P/E ratio. Lots of great growth stocks have went on sale. The interest rate to borrow is at their lowest level in ages, provided that you have good credit score or reasonable collateral. So people, get out there and get in some opportunities before it passes you by.
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