Monday Practice

Monday Practice

Monday Practice

Echoes of Black Monday: Why Recession Proofing Your Life is a Necessity!

History has a habit of repeating itself. On Monday the 19th October 1987 Stock markets around the world crashed culminating in huge losses. The crises began in Honk Kong, then rippled through one time zone after another in one 24 hour period. This was remembered as the largest one day percentage loss in stock market history. The New York stock market was in chaos billions were wiped of shares overnight and the American economy went into decline, like a virus in motion major economies were effected. This event gave birth to what is now known as Black Monday.

In our day in our day following the ripple effect of the sub-prime mortgage crises which emanated from America in Britain The Chamber of Commerce predicts a gloomy forecast for the British economy. Interests rates have been cut again and again in an attempt to stave off an economic recession, some would say depression. With unemployment on the rise and the increase of fuel bills British families are and will be for the foreseeable future struggling to make ends meet. Similar reports are being heralded from across the Atlantic

In America warning are being hailed highlighting headwinds more devastating that those seen in the recession of the 1990’s. Noticeably consumers on both sides of the Atlantic have curbed their spending within the field of entertainment focusing on life’s necessities

In France The OECD (The Organisation for Economic Cooperation and Development) have forecast that the British economy will continue to shrink. The British Chancellor has been quoted as saying that Britain is facing “the worst economic conditions for sixty years”. The OECD have in addition forecasted

that the economy’s of France, Germany and Italy will see little growth

But is this uncertain future all gloom and doom? As humans when our faith in those with whom we trust is shattered and those who rely on us for care and protection are in peril we have but two options. We can either give in and give up or we take fate into our own hands, muster up courage and fight to protect what’s ours.

Historically entrepreneurialism in its various forms is an option we face through necessity. Whether it be setting up an ironing service, an upmarket meals on wheels, or consultancy in a niche market where we have untold experience.

Unemployment means we have to explore our options with the excess time we have available along with our skills, expertise and commitments. Starting a business from home is not only a viable but practical option as a means of recession proofing our lives in the face of oncoming adversity. By honing our skills we need not fear the aftermath or the fallout of a stock market crash or sub -prime mortgage crises or echoes of Black Monday.

About the Author

Margaret Henry has a keen interest Psychology and self-actualisation. Her interest is in individuals reaching their goals and achieving greater independence in their lives and contributing more time to their family, friends and society. www.poromdesh.com