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How Do We Prepare For The Next Recession?

Updated: Aug 17, 2023

From the most recent Economist:

“The world should start preparing for the next recession while it still can”

We are ten years removed from the global downturn of 2008, and while we have experienced unprecedented economic growth in the decade since, those words sent a chill down my spine when I read them earlier today. Clearly, the next recession is not an “if” but a “when”. As I watched the market tank for yet another day, I asked myself three questions:

  1. How soon?

  2. How ready am I?

  3. What can we do as a country to ensure we are better prepared to handle a global downturn than the last time?

It’s this last question that really caught my attention. One could say, “if we aren’t prepared now it’s too late to be prepared”. But I don’t agree. Yes, there are many things our leaders have been doing to better insulate the US from a downturn as significant as the last. If you check out the full article you will see many of these outlined here.

You will also see one thing, also highlighted in the article, that we can all do to improve our chances of surviving the upcoming recession: elect people who can work together in our best interests.

The fact is, as a country we haven’t been doing a very good job of that. Rather, it seems we have gone out of our way to elect representatives that fight to see how far to the fringes they can go. One doesn’t have to look far to see a US Congress that cannot get along. Our leaders seemingly try NOT to collaborate, facilitate, negotiate, compromise for the greater good – essentially all of the things economic and community developers MUST do to be successful!

Here’s a simple idea: when you vote in a few weeks, vote for candidates that think and act like you! WOW, I can’t believe I just said that! Without knowing your politics, viewpoints or philosophies I have advocated for an entire slate of candidates with totally unknown platforms. And yet, I am totally comfortable with that because here’s what I DO know about anyone who has read to this point: you are a thoughtful, forward-thinking, collaborating, facilitating, pro-active, innovative, creative LEADER! Otherwise, you wouldn’t have survived long enough in this industry to be reading this blog! You also embody the traits our countries elected leaders desperately need.

Remember Nike’s campaign Be Like Mike? Here’s an idea for this election: Be like Us! Vote for candidates that understand the value and desperate need for us to come together as a country. Reject candidates that live on the fringes, promulgating division, hatred and fear. Support those who believe we are better together. Reject those who refuse to negotiate or compromise for the greater good. Please join me in voting for elected officials who believe in lifting us all. That’s how we prepare for the next recession!

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