7 ways to start preparing for the next recession now

Based on nothing more than a hunch, I think there’s another recession coming. A hunch, and the fact that stock markets are plummeting, the US is becoming increasingly unstable and if the UK succeed in crashing out of the EU, they are going to take us down with them. At home, the soaring rents and house prices aren’t sustainable – can’t be sustainable – and in the boom and bust cycle which we seem cursed to repeat, that means a recession is on it’s way.

Nearly €2.5bn wiped off Irish stocks amid global slump
From the Irish Times on Dec 6th 2018

After seeing this terrifying headline early this month, I started thinking about what I could do to prepare for this inevitable recession. I always feel better when I have a plan.

My plan does make some big assumptions. It buys into the narrative that there’s more money sloshing around right now than there was 5-10 years ago. I know this isn’t true for everyone. There are over 10,000 homeless people in Ireland. There are children growing up in hotel rooms. Over 15% of the population is living under the poverty line and the income gap is growing all the time. People are working good jobs and still broke because their salary is being eaten up by rent.

This silly listicle will not be relevant to a lot of people and I’m sorry about that. A better way to prepare for a recession would be for the government to take the Apple tax (and the Google tax, and the Facebook tax) and invest it in social housing and other public services. I can’t make that happen so here are some things to do instead.

1. Get out of debt.
Obvious one first. Pay off your loans, clear your credit card, get out of your overdraft. If you find yourself penniless and out of work, you don’t want to owe the bank anything. You’ll miss repayments and the interest will just keep clocking up. Clearing debt is a very boring use of money but if you are lucky enough to have a bit of extra cash now, invest it in becoming debt-free as soon as possible.

This also means that if you have a future financial emergency, those lines of credit will be available to you and might help you ride out the recession.

2. Save.
Another boring, practical piece of advice – start saving. Preferably with a credit union because it’s easier to borrow from them. Set up a savings account and a weekly (or monthly) direct debit into it. Even if it’s only for a small amount, some savings are better than none and being a regular saver looks good when you go looking for a loan. I also like the credit union because it’s hard to get at the money. There’s no cards or electronic transfers, you have to physically go into the building. That helps my savings grow!

3. Learn to cook
The cheapest way to eat well is to cook for yourself. It doesn’t have to be fancy just learn how to make the thing you like. The BBC Good Food website has lots of easy recipes with clear instructions. (Personally I really like this two-step recipe for chicken, sweet potato and coconut curry.) Cooking well isn’t hard but it takes a bit of practice. Better to make your mistakes when you can afford to, so if the meal is completely inedible there’s a pizza in the freezer you can have instead.

Inviting friends over for dinner is also a good way to enhance your social life during a recession when nobody can afford to go out. Finally, as well as being able to feed yourself and others, being able to spend time preparing good grub is a great when you have too much time on your hands, because of unemployment or under-employment.

4. Invest in clothes that last, especially shoes/boots/coats.
If you can afford it, spend money on good quality shoes and coats that will see you through a few winters. This is good advice from a budgetary and environmental point of view but also because you find yourself walking more in a recession and it’s good to have things that keep you warm and dry.

5. Join the library! All those books!
Libraries are great. Not only are they full of books that you can take away for free, they are also warm places you can go and use the internet without spending any money. You’ll also be grateful for their weird collection of DVDs when you have to cancel your Netflix subscription and can’t afford to go to the cinema. You could argue that you don’t need to join a library now, but having lots of members help libraries stay open and (I imagine) help them argue for budget increases, so by joining today you can help make sure they’re still there when you need them. Also did I mention the free books?

Photograph: Tom Honan/The Irish Times, part of Patrick Freyne's article on the Dublin Central Library in the Ilac Centre.
Photograph: Tom Honan/The Irish Times, part of Patrick Freyne’s article on the Dublin Central Library in the Ilac Centre.

6. Vote for anti-capitalists.
I don’t know if the general election is going to happen before or after the recession hits but when it does, you should vote with the recession in mind. We need a government who doesn’t always take the side of the property developers or the landlords or the banks. We need more tenants and less landlords in the Dáil. We need more socialists who will increase investment in public services. We need people who will put an end to the boom and bust cycles.

Leo Varankar described himself as “the CEO of the organisation” on the Late Late Show recently. CEOs tend to be selfish, power-mad psychopaths and we shouldn’t let them be in charge anymore. We need a leader who is less like a CEO and more like a caretaker. Someone who looks after the country and has it’s best interests at heart, someone who identifies where cuts can be made and also where we need to invest. Someone who understands that they don’t own the country, they’re just looking after the place for bit. Please vote for someone like that, when the time comes!

7. Look on the bright side…
…a recession might be the only thing that will bring down our carbon emissions. The last recession really helped with that but they started climbing again as soon as the economy started to recover. Yes, this is clutching at straws and it is a fairly bleak bright side but we were identified as the worst offender in the EU for carbon emission last week, which is another super bleak and depressing headline, so I’ll take any bright side I can find. We need a few more politicians who give a shit about global warming in the next Dáil as well.

Repealed: a cause for celebration

(The referendum happened over four weeks ago and I have spent almost that long writing this blog post. When I started writing about this, I discovered that I had a lot to say on the issue and it took some time to wrangle all those words and feelings into something interesting and coherent and not 5,000 words long, but it felt worth doing.)

Continue reading “Repealed: a cause for celebration”

YES! Ireland makes history.

Just before we leave the topic of Marriage Equality, here are a couple of links about the historic weekend in Ireland.

 

Miriam Lord in the Irish Times does a wonderful job of describing the events of the day as the Yes tallies kept rolling in.

And a shout out to all those who came Home to Vote, it couldn’t have happened without them, espeically the amazing Joey Kavanagh who lead the Get the Boat to Vote initiative.

And finally, I really like Una Mullally’s article on being who you’re meant to be and how the world will change around you when you allow yourself that freedom.

Now – as President Bartlett would say, “What’s next?”

Voting

When the polling stations across Ireland open on May 22nd, I will be on a plane to Barcelona to celebrate my parents wedding anniversary. I didn’t plan to be out of the country for the Marriage Equality vote and it seems a little bit perverse to be celebrating traditional marriage while the country votes on whether or not to extend that privilege to all Irish citizens, but my parents are forty years married this year and I couldn’t really miss the celebrations.

The flights were booked weeks before the date of the referendum was announced. I am sad and disappointed to not be able to vote. The government has been talking about and promising this referendum for a very long time, it’s annoying to be out of the country when it finally happens. Voting is important to me. In 2002, in my final year of college, I travelled home to vote on the very confusing “abortion referendum” when Bertie Ahern’s government tried to over-turn the ruling on the X-case. It was confusing because a yes vote meant you wanted the case over-turned and the laws around abortion to become more restrictive, or you could vote no and keep things as they were. By a small majority, the people voted not to over-turn that ruling and it still took the government over 10 years to legislate on it. That vote was on a Thursday and I went home to vote on Thursday night and then back to college on Friday morning because I was in final year and we were finishing projects that week.

MarRefIf I was here to vote on May 22nd, I would be voting yes in the Marriage Referendum because I’m a big fan of equality. I’m not that bothered about marriage but I recognise that my ambivalence is a pretty privileged stance to have. I can turn my nose up at marriage and say I’m not sure it’s for me because I get to take it for granted. I can get married if I want to or not. Anyone who wants to get married should be allowed to do so. I’ve heard lots of people be very enthusiastic about marriage, that committing yourself to another person in that way can make you feel like part of a team, a true partnership. Why would you want to deny that to anyone?

I really want this referendum to pass because a yes vote would say so much about this country. I don’t want to live in a backward, mean-spirited, homophobic country that believes that it’s ok to treat people differently because of their sexuality. To me, that’s what a no vote says – it says you think LGBT people should be treated as second class citizens. I want to live in a loving, inclusive society where people are treated equally. Passing this referendum won’t instantly make that happen, but it would be a step in the right direction. It could be great turning point for Ireland, which, let’s face it – has had a rough few years. This could be the start of something new.

To me, the people against marriage equality are against change. They are backward looking and nostalgic for an Ireland that doesn’t exist any more. But to me, Ireland is not a country that can talk about the “good old days”. We are forever discovering new revelations about how bad things were in this country, particularly for anyone on the margins of society. It’s a big step for Ireland to finally step out of the shadows of Rome and Catholicism and make it’s own decisions based on what it best for it’s people. I believe that equality makes life better for all people. I don’t want to have more rights than other people – that doesn’t feel right.

So if you are here on May 22nd, and you are eligible to vote – please make your voice heard! Check now to make sure you’re on the register and if you’re not, you still have time to get a vote before May 22nd. All the details are on the Yes Equality website. Maybe you think I’m a bit of a hypocrite tell you to use your vote when I’m not using mine. I don’t care what you call me, as long as you vote! If the referendum doesn’t pass, I will feel very guilty for going on holiday.

And if I haven’t convinced you to Vote Yes, maybe Bosco can!

(I’m not sure how I’d vote in the Referendum on the Presidential Age of Eligibility. I can’t decide if age and experience is more or less useful than youth and energy in a President. You can still have a youthful outlook when you’re over 35 but is there any substitute for experience?)