S2E43 The Coming Recession
The Brian Buffini Show
Brian Buffini
4.8 • 2.4K Ratings
🗓️ 31 May 2022
⏱️ 34 minutes
🧾️ Download transcript
Summary
If you make good decisions ahead of time, you won’t be negatively impacted by the oncoming recession. In this episode, Brian explains what actions to take now so that you can grow and prosper in your business, improve your finances and engineer your own personal soft landing, no matter what happens.
YOU WILL LEARN:
· How previous recessions came to pass.
· Why this recession will be different.
· How to prepare so you can win.
MENTIONED IN THIS EPISODE:
S2E23, Inflation and You Part 1
S2E24, Inflation and You Part 2
“The Richest Man in Babylon,” by George Clason
NOTEWORTHY QUOTES FROM THIS EPISODE:
“A recession operates the way a pressure cooker does.” – Brian Buffini
“We need and want growth, and we want hot markets. And we also need recessions to cool things off. That is the natural way in which things have operated for years.” – Brian Buffini
“A recession is a terrible thing to waste.” – Brian Buffini
“If you prepare, you can win. If you take action, you can win.” – Brian Buffini
“There are absolutely things that you can control so that you can win during the coming recession.” – Brian Buffini
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Transcript
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| 0:00.0 | Welcome to It's a Good Life Podcast where it's all about helping entrepreneurs think, |
| 0:07.6 | feel and do better. Here's your host, Brian Bafini. |
| 0:14.7 | The top of the morning to you, welcome to It's a Good Life. Today we're going to talk |
| 0:18.3 | a little economics. I know that's not always the most exciting thing in the world, but |
| 0:23.2 | the current economic outlook is going to affect everyone. Everyone with a business, everyone |
| 0:28.2 | with mortgage, everyone with any kind of money in the bank or any kind of job. So we're |
| 0:33.6 | all going to be affected by this. Today's episode is entitled The Coming Recession. And I'm |
| 0:39.7 | going to cover three things. I'm going to do a little history lesson about recessions. |
| 0:44.0 | I'm going to talk about what's different this time. And then we're going to give you |
| 0:47.4 | some little advice on hedging your bets. This is one of a series of podcasts that I'm |
| 0:52.7 | going to do on recessions. This is kind of an introductory one. Kind of give you an overview. |
| 0:58.0 | We're going to dial in to how to thrive economically. Journal recession. We're going to talk about |
| 1:03.8 | specifically with a business, what to do to thrive. Journal recession. And the beautiful |
| 1:08.7 | thing is we have time to prepare. Let me kind of walk you through this. The first thing |
| 1:12.6 | I want to do is do a little history lesson because when people hear the word recession, |
| 1:17.4 | it just tends to freak them out. Because in recent memory, the great recession of 2007, |
| 1:22.6 | 2008, which for many of us, certainly in my business lasted five to six years, in any |
| 1:28.0 | other context, that would not have been called a recession. It would have been called a |
| 1:31.0 | depression. We had banks folding all over the world. We had catastrophic levels of foreclosures, |
| 1:38.1 | tremendous spike in unemployment. Basically, the economic stability of the world came into |
| 1:44.4 | question. It was a once in a 50 year phenomenon. You throw in some bad government policy and |
| 1:49.6 | extraordinary greed on Wall Street. It just made for a real soup. And by the way, extraordinary |
... |
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