Recessions ECP 26

[@danmartin5015]

The key to survive resesions, is to have diversified skill set, and the willingness to learn new ones and apply them.

[@John_Montgomery]

plus have dean martin as a brother helps, right??

[@kkknotcool]

The key to surviving a recession is only do work that has a nice fat margin. You will make more in good times and in bad times you can cut the margin in half and still make a living. For instance a person who harvests lumber is making 300 bucks a day and spending 100 bucks. The lumber yard might cut the price they are paying for wood from 3 dollars a yard to 2 dollars a yard but you will still net 100 bucks a day in a recession.

[@ac170]

I appreciate the wisdom in this discussion My dad used to say that having a wife that was satisfied with her lot was one key to a good relationship. I'm almost 70, and retired which is a relief in these times, but have been fortunate to have a wife with a strong sense of frugality.. If she has a vice, perhaps she is too generous, which is no vice at all. As you pointed out, there are good lessons in adversity, that we all need to learn. i would say that I learned very little from my successes, but lots from my failures. In any case, this too shall pass

[@tswwow]

David Thompson I love your comment.

[@John_Montgomery]

It was a good conversation. I am a electrical contractor in SoCal. When ever people talk about getting laid off I think to myself that I am laid off every time I finish a job. I think that I have become the Ant and not the grasshopper as a result. Good planning and enjoying the simple things in life can smooth out a lot of rough edges

[@z06doc86]

As a practitioner of Internal Medicine for 30 years, it has indeed been recession proof for me. However, I lived through an 11 year recession during my training prior to obtaining my license to practice. Not to mention over $200,000 in debt. (Back in the 1980’s). I respect and appreciate the trades and admire good Craftsmanship, which I try hard to emulate as a hobby repairing or building things around the house, or for others. Really enjoy your videos/channel. Thanks.

[@billhenshall5426]

The “Make Your Bed” is Admiral William McRaven. I believe he was the lead officer in charge of Seal Team Six as they went into Pakistan to raid Bin Laden’s compound. He did spend the bulk of his naval career in special operations so he became a very goal oriented kind of guy early in life. Scott, I used to worry a lot! Then I found the same secret you touched on. Prayer. As I began to order my priorities in a different set of values, I began to see less and less reason to worry. My entire career was really in harms way, I never knew if I was going to even come home, so I festered in worry. When I changed my priorities to what my Lord had for me to think about, coming home never was a concern again. I learned to pray. I learned to be thankful for everything from a good parking spot to the penny on the ground to the fact that bad guys couldn’t shoot to well and everything in between. Since I have had my directions changed, I ask myself “will this cost someone their life today?” If there aren’t enough beans in the cupboard will it kill me or my family today? Since I have had my priorities changed I can honestly say I’ve always had plenty. It might not be exactly what I wanted, but it’s plenty. I’ll pray for your vibrations.....lol! Thanks for the great content.....

[@michaeldougfir9807]

Hi Bill, You are right. Prayer. When we pray we avail our situation to God to work with it. Through prayer and seeing God's answers we get stronger in faith. Let us also remember the part about gratitude. Gratitude is a good attitude. Thanks. We need to share these things more. Blessings, Michael.

[@raymondlancaster6928]

Guys this is what I needed to hear right now. I’m graduating trade school and going to work in a month and the economy has had me very worried in the past couple weeks. This video seems to provide the small reassurance I’ve been praying for. I hope you and yours stay well. Keep up the good work.

[@chadchaloner7733]

I never comment, but thought I’d let you guys know, I’ve watched nearly every video, and am trying to build my life from your advice. I’m 27, been a APM for a year now and have learned more from your videos then anyone else. So Thankyou!!

[@joshhead9368]

I was an aircraft mechanic in the RCAF for 10 years. Took me 2 years to build up the courage to leave the security of the military to pursue being a heavy duty mechanic. Took 7 months before covid hit. The oilfield collapsed, I got laid off and now hit the point of having no other choice but to go back to the military. I consider myself lucky that i can fall back on the military during hard times. Life is unfair and sometimes following your dreams just has to be put on the shelf for a while. Great conversation. Hope everyone is doing well. Cheers from Alberta Canada

[@Adhouston1214]

You guys are great just started watching you, started in the trades when I was 16 I’m 48 now went to the oil fields of south Texas 5 years ago lucky to still have my job but I have started to get back into contracting small jobs cuz I know it’s just a matter of when not if I’m going to be laid off but I always know that I can always make a living with my hands I’m teaching my son that you don’t always need a college education to make a living people are always going to need someone to fix stuff on there house

[@psidvicious]

-A livestream and a podcast, 2 days in a row! Thanks guys! I think these are probably pretty helpful to a lot of people right now, as a positive distraction from this world health issue we all find ourselves in right now. -Being broke was a feeling I got very tired of, very fast in my early adult life. In the old days, before direct deposit, everyone would gather around after work on Friday and the boss would pass out the paychecks. Everyone would rush to the bank to cash their checks. Then it was off to the bar or to the race track or over to ‘The Mans’ house to quench whatever vices needed to be fed. I, generally picked up a 12-pack and went home for the weekend. I used to save money with the old ‘envelope method’ and in those simpler days it simply worked. Ive always been thankful that, that lesson came easy to me, but I’ve seen so many people that NEVER got it and still live hand to mouth. 🤷‍♂️

[@joeshmoe8912]

A Doctor is a tradesman, especially a surgeon. They have all their tools, especially even an eye doctor or a dentist. I love the podcast guys. Thanks for sharing.

[@calebmattix391]

Great job guys! I really appreciate Scott’s philosophical thoughts on mundane topics an Nate, you do a great job keeping him reeled in!

[@candace3676]

The key to surviving a downturn is always living within the income actually coming in. Accepting that one might need a food box to offset a bill demands humility and when life changes the commitment to pay it forward is a gift. When one realizes they have lived way over their heads, the time to correct that is NOW! Sell, sell, sell and move to the next level with great thanks. And BTW: A penny saved is a whole penny, a penny earned is .7 of a penny. Saving makes more money than earning, can't be the whole story but it is important! Love the encouragement you two shared today.

[@EC2]

This is great - thanks Candace!

[@charlesmiller5078]

Taking about optimism, I met John Glenn when I was a 7 year old, we were on a flight from NY to LA, he took the time to talk to me and explain about his up coming flight into space. He told me, maybe he will blow up on the pad, maybe he will blow up rocketing into space, maybe he will die on reentry. I looked at him ans asked why would you do that. He said because that's who I am. Around a year later in the lunchroom of my elementary school I watched this same guy who I had talked to, enter the rocket ship, blast off and orbit , then re entered perfectly. I believed I cried. I was so scared for him. He was the perfect optimist , with so much that could lead to death, he took a deep breath and went to work. These guys were cut from a different cloth thats for sure. I always looked at finding a new job, as a job in itself, you put your boots on and you go. Most of us don't have a choice, its feast or famine. I have noticed every generation looks at this differently. Moving back in with your parents, just was not a option period.

[@psidvicious]

THAT is a cool story! Those types of people really are cut from a different bolt. It’s got to be some kind of courageously crazy mixture. Always looked up to those early astronauts.

[@EC2]

Awesome story, thanks Charles

[@DuffyHomoHabilis]

John Glenn was cut from a bolt of The Right Stuff! (Great book & movie, BTW!)

[@eduardodedios8213]

Great work guys, I’m probably not a positive person and I’m ok with that, partly because in my 47 years I’ve seen things go wrong and right regardless of how much you worry about things that I can and can’t control, I’ve learned to just move on and keep hustling, as a truck driver/ owner operator/ business owner for almost 23 years, I know there’s no unemployment for me so, you could say that I get laid off after every load, every day, so we’re constantly looking for work and sometimes from previous brokers so I could say that my profession has been almost recession proof, or maybe I was raised to always find a way, and as a man/ father you must provide for your family, no bad time last a 100 years, you always can get back on top of things, love your videos, I have put thousands and thousands of miles listening to you guys, best of luck!!! God bless you!

[@loganofnorth880]

you guys are lifesavers. I can't thank you enough. Bless your families I hope your having a great day

[@terrysullivan1992]

I'm 77 and for most of my life from about 25 I've been self employed in some aspect of building maintenance or ceramic tile contracting. During the recession in the mid 70's when my young tile business only had about 4 to 6 employees we grew about 100 %. It was because I had learned years before a valuable fact. That is during a recession wealthy people don't stop spending money; they change what they spend it on. Less on things that are luxuries like a new car or expensive vacation to things that have lasting value like home improvements. So when the recession hit I increased advertising to the very wealthy nearby communities. I also spiffed up my sales presentation to match their expectations. Conversely; when the inflationary economy collapsed several years later it wiped out my company of 30 employees back down to me and a helper. I could still do those smaller one on one jobs for very wealthy folks again, but not the large commercial ones we had grown into because those were all gone.

[@jimjones4345]

I'm a person that has the ability to only worry about what's in my control, I just get to business, dont spent time thinking about it, in the negative anyway. But that also means I probably dont take things seriously enough. I dont necessarily see it that way, but I understand if others view me that way.

[@TheMan-tb2op]

Scott and Nate, really enjoy listening to you two, I feel like I’m sitting around with you. You touched on a lot here. I’m in Australia, a architect and a builder. At 53 It’s heartening to listen to some very similar experiences and skills. I was made redundant 2 years ago and to go from feeling needed to not was a shock that I was expecting. Hardest 12 months and you’re spot on about not moving, getting up later, losing the morning then realising the day was over and I think I’ve watched everything on KZbin. I reflect on it that my starter motor was broke. I’m not fully recovered but don’t have a job to lose with the covid downturn so guess I’m in front. My advice is not to get into a rut and don’t let your starter motor get broken as the old models can’t get spare parts

[@kcarr1021]

You guys are great. Just listen to y’all helps me calm down.

[@joezeigler1064]

recession = neighbor gets laid off Depression = you get laid off

[@niloccoady]

Lads great job on the audio. Very clear, levels perfect. You know I believe your correct, our kids will relate to this 'difficult time' as to when mum and dad were home all the time, and we got to do X Y & Z. What's sh1t for us adults now this second, will no doubt become a very happy memory for our kids.

[@benritchsmith]

Things to do in a recession: mental regrouping. Reflective practice, or whatever you want to call it. It can be prayer. But going over an inventory in the morning of what you can do. THEN, reviewing that at the end of the day, trying to go over what you accomplished. Carry over the things you didn’t get done to a to-do list for the next day. That’s just a rough-in of the idea. I aim to practice it better! :) thanks for your good work.

[@psidvicious]

I used to keep a folded piece of paper right in my top shirt pocket with exactly what you said. Today’s to-do list and check each one off as you go. It seems too simple to be affective but I stand by it. It works! edit: spelling

[@scottcurtis1887]

Hey Guys. Great Pocast. The last part of this “chat” hit home with me. My stepdad always used to tell me “no matter how good or bad a situation may be, it will change.” Think about it. Makes perfect sense. I think of this saying often as I’m slugging away trying to make a living. These days, not being allowed to work, it has helped me a lot to keep this saying in mind. Keep up the great stuff. Stay safe and healthy and keep your families that way. In the grand scheme of things, NOTHING ELSE matters. All the best. Scott Curtis Custom Carpentry Mt. Wolf PA

[@DuffyHomoHabilis]

No matter how good (or bad) you have it, there are always plenty who are better (or worse) off. And change is the only constant.

[@coxben]

During the lockdown here in New Zealand I have started teaching myself to weld and made some leather work tools in the home shop to complete a few other projects. Getting myself reacquainted with woodturning as well.

[@andrewg5854]

Thanks for everything. I love your knowledge and videos, both of you. Great podcast, will start listening now after first hearing this and the negotiations vid on KZbin. Keep.Busy.

[@andrewg5854]

...and Good Work!

[@jcurran8860]

For anyone who has been through a Recession, It's quiet easy to resonate with this discussion. Thanks for a very poignant and timely Vid.

[@timhale501]

I saved money in the good times When I worked a lot of 12 hour days , drove old cars and used trucks for 10 years. then bought a fixer upper for a rental During the slow times fixed it up and then 2 rentals would pay the mortgage on my home and both rentals. Paid cash for everything except my first car and first year old 4 X 4 truck. had it paid off in one year.

[@johnrosier1686]

This is a really good topic for discussion. Sounds bites don’t cut it when good thoughtful advice is necessary. A good refresher for older tradesmen and a good lesson for younger tradesmen who may not have dealt with rough times yet.

[@tonyn3123]

Good comments and just watched this podcast in June. I can totally relate to Scott's comment regarding several downturns we have experienced. While I might have been more fortunate to have worked on ongoing government projects, we definitely felt the crunch with fewer projects and no increases in salary, or even a reduction in salary. I am sixty-seven and relatively new to retirement. I also recently received a stimulus check. I am on SS and a retirement pension and have not missed a check. There are people out there that certainly have. I really pondered regarding what would be best use for this money. Put it in savings? Spend it friviously on something I just want? Or help others as Christ instructed us to do? So, I deposited it, and wrote an equivalent check to my church with a memo "For those hurt my Covid-19". This one thing really helped with the depression of isolation and I know the money will go 100% where I want it to go.

[@EC2]

Great choice!

[@jeffputnam8554]

I have taught this to my kids when I had them at home. I hope they remember some of it now

[@MattyWill1]

This is a great episode. Especially with time we're having now. Luckily I've been able so far to stay fairly busy. However it's like he said their are weeks were nothing's lined up and your thinking once I install this door or paint this last wall this is it. Luckily it has only got to that a couple times over the last few weeks and someone calls with a new job right In time. I dont like the close calls though its stressful.

[@trunkshvac3339]

Many good truths shared in this one guys. Ultimately I think what most ppl want t recession or not is contentment. Scott I appreciate what you shared about your wife's sense of contentment. An attitude of co tentment isn't really conditional, if contentment were conditional it would cease to be contentment. I dont know how to describe contentment with faith entering the conversation, other than to say it's a decision you make for yourself and a part of who you are. I'm not speaking of contentment as complacency of a poor situation or a victim mentality, speaking more of the attitude you described in Phil's brother. Really appreciated this one guys, been through hungry times but this is the first time without my dad. Worked with him most of my career and now I'm on my own, you fellows are more encouraging than you know.

[@fprintf]

I was thinking about you guys and the EC house, and what a terrible time it will be for any spec house that needs to be sold. I hope you guys are going to be OK with the coming hit to real estate prices. Locally (Northeast USA) some are predicting a 25% drop.

[@mabolzichjjl]

After coming off of almost 5 months of no employment and no unemployment benefits - this whole discussion settles deep with me. Thankfully I'd been building my savings account for impending home repairs. It helped me pay the bills. Aso I have a woman by my side (who is now my wife) who helped me out in a big way. But she did notice depression setting in. I'm very much a blue collar worker. I'm used to working with my hands for a living. Sitting idle was taking its toll. I took to home repairs, touch-up, cleaning, and video games to keep me going.

[@keithcurrams]

17:00 ...feeling that

[@bradmccormick358]

Hey guys, Great discussion and hopefully you can continue. I think you hit on a good topic as far as staying diversified, learn different skills in different fields and this would be a good time to maybe take a hobby to the next level and help generate some income. Keep up the good work and keep inspiring.

[@tMatt5M]

11:50 Dennis Prager once said "if you have no expectations you can never be disappointed". That always struck me as profound. I try to live my life by it everyday. Of course what Jesus says in Matthew 6:33 is also extremely helpful.

[@larryjones2237]

I read about a guy, who at the end of his workday, would put his work in the drawer, close it and say, "Stay". Don't know how effective it was but it seemed like a good practice.

[@kiwdwks]

Thanks for your videos...always gives me something to think about!

[@kengamble8595]

Thanks for sharing and take care. 👍

[@michaelcavin5447]

“The freedom to work yourself to death” love this quote! I can sure relate to it.

[@clydedecker765]

Hospitals and clinics get sold and sometimes doctors and nurses are let go but ... Their potentials are much higher that regular people. But they do have some of the same problems are the rest of us. I only wish that there was a recession proof area but its usually those related to personal maintenance (doctors, beauticians, liquor stores, etc.) and even they have a reason to fear because they are small businesses...

[@knotbumper]

Philosophically, I always thought it was better to be broke young, rather than first experience being broke when you are 40 or older. I'm 68, retired, and have been laid off so many times I cannot count. I always felt empathy for those "white collar" people when they got laid off, they had always been led to believe only "blue collar" people get laid off. As a union electrician, I always knew sooner or later, I would be back to work. It was always painful to lay people off after the down turn started. If we saw a down turn coming, several time I laid off very good hands so they could get on the books early and go out quicker. It was so much easier to go back out with only a couple hundred on the books than when there were 800 on the books. Wife and I always budgeted for 4 months off every year, that only happened a few times, so we were able to coast through almost every down turn. In 40+ years in the trade though, I never took a vacation. If work was available, you worked. in anticipation that there would be times you didn't work and when I was out of work, we never spent money except for groceries and the house in case it stretched out longer than anticipated.

[@toml8142]

One thing to remember is people pay for labour. Every though your bills have a labour and material charge the material charges always equates to someone labour. If its packing or cutting it admin or taxes for government. There is never a point where someone puts the money in the ground and asks for some wood. That is the scary thing of the shutdown. If you can always provide a useful labour you will always be paid

[@jacojarvis7363]

I knew you’d relate to Dave Ramsey at some point. You two are much alike, reasonable with common sense!

[@davidhamilton7628]

Thanks guys

[@user990077]

16:03 "Get up and make your bed" Ha! At my age I get up and pee. Making the bed is later after accessing what hurts now for what ever reason.

[@jackstraw5527]

Wow, I didn’t know you listen to Dave Ramsey. That makes sense, you are both like a wise uncle to many I’m sure (myself included).

[@realisticcritic]

As for local recessions, the biggest employer locally is a vehicle manufacturer that may lay off 1000 workers at a time and when it happens it absolutely affects the whole local economy

[@stevenparkin6486]

I have a year's savings of cash and food, anticipating any interruption in normalcy. I didn't guess the interruption would be a new word, C-O-V-I-D; yet here it is. I'm not worried; I use the time to read previously-ignored books, rejuvenate hobbies, and hone rusty secondary skills. My point is to suggest that readers see this as a chance for rejuvenation and new beginnings; and not as wasted time.

[@jum5238]

A *LOT* of truth to what was discussed here. Was laid off in the dot-bomb crash (fairly late) from a large semiconductor company, and was "too proud" to go work at jobs I considered menial. Yes, I looked for jobs, but not like that was my job. With a family of 7, I had a cushion of 80K, and burned through it over 2 years, and then ate into the equity of the home to the tune of 50K. The stress and depression and family fights went through. the. roof. during that time, and I ultimately got divorced. I'm grateful now that I have a decent (not high paying) job at this time *knock on wood*, but my healthcare working wife... not sure, as one of her jobs is in the aesthetics industry (which is VERY discretionary, but does bounce back somewhat quickly as a recession ends - people have to look good for job interviews, right? Competition with the young-uns is a HUGE concern.) The other part-time job is as an advice nurse for a decent sized medical practice which has been slowing down as well. We both feel blessed (barely) at this time, but we do have our concerns. Keep doing the little things. Don't be too proud to do work. Trying to come out of a long-term jobless situation is TOUGH, and people can SMELL the desperation. And it's sooo easy in high tech jobs to fall behind, so it's so very critical to learn/maintain your skills. Thankfully I can fix darn near anything, so I don't need to pay for someone else's time. And those are good skills to have as well. Be willing to hustle! ANY work is good work. And doing GOOD work is something to be proud of. And network! NETWORK! *NETWORK*. And participate in volunteer efforts (doing a good job!) Besides new skills you'll pick up, you find jobs FASTEST when you know someone, and they learn to trust you through relationships, otherwise you're as much of a hiring risk as the next person in those faceless, algorithm/keyword based resume suckers that HR teams/companies use..

[@EC2]

Great comment, thank Ju M!

[@Pdiddy0604]

Just a heads up for everyone, if your job is non essential call your car ins company and they will reduce your monthly bill due to not driving as much. I managed to save 30 bucks a month!

[@dannywilsher4165]

I had lots of thought during this exhortation. But I will just say I enjoyed it and up the comment count...

[@jimdegeorge5517]

Great time to be a retired Plumber

[@johna1160]

Admiral William H. McRaven, U.S.N. ret., author of "Make Your Bed".

[@jnyates]

The medical field definitely isn't recession proof for this scenario we are in right now. In our area over 50% of the Urgent Cares have closed and many of the Primary Care doctors have had to cut their staff in half because people are scared to get out and go around other sick people. This includes the Doctors, PAs, and NPs. My wife is just graduating from PA school and can't find work because none of these places are hiring right now.

[@tramtoby]

Skills are the key, here in the UK, the apprenticeship program is non existent, youngsters do not want to get their hands dirty.

[@samboscott]

From Belfast: We have two good apprentices (plumbing), but it was a while before we got them. I can't remember how many didn't last a week!

[@turtleairships]

NATE.... I have come to this podcast only after deliberately going to KZbin, where I found a notice that it was up. I came in late, I see that you have about 600 views so far... Would it be possible somehow to send E-MAIL NOTICES? I don't know if my "troubles" are unique, but seems that we need some better way to know when podcasts are up and running. The content is too good to miss! ciao Darrell

[@jb7707]

Try your notification settings on KZbin

[@psidvicious]

@@jb7707 Mine are inconsistent. Sometimes I get them and sometimes not.

[@whitacrebespoke]

I think the global effects of this virus may be felt for a very long time. We’re on lock down in U.K. so I’m not working on paid work I will feel it very hard at the end of all this. I hope your house sells well at end of all this.

[@tillerjets]

You’re thinking of Jocko Willink when you mention the discipline about making your bed.

[@logik100.0]

Making your bed, the provable result is your bed is made. Praying, the provable result?

[@The1stPreacher]

Amen!!!

[@dougmoore7116]

10k views and 0 thumbs down, that says a lot.

[@bluenadas]

I'm going to request a wardrobe change between live feeds and podcast videos 😉😜

[@trunkshvac3339]

Meant to say "without faith"

[@rablord8944]

This is not going to be a reason like the ones you're talking about. Your going to have to work twice as long to earn the same dollar. Europe will brack up Italy Italy and Spain are broke and Germany are not helping with money or medical equipment. There's a lot of people upset and resentful about Germany.

[@bw7471]

You want a recession proof field? .................Funeral Director, people are just dying to get to them!!!

[@Jim-Wade]

Dave Ramsey is right. The economy is being destroyed for no reason which serves the public interest. As long as we remain under house arrest, refuse to investigate what is really going on, and seriously investigate the claims being made in the mainstream media, this ship is sunk. With a caveat about language, I suggest everyone take the time to revisit the movie "Wag the Dog", and realize the ability to create "news" is far more enhanced today than it was then. With everyone supposed to "stay home" they can report whatever they like, and since they control what gets broadcast, dissenting voices are not allowed (unless it is a soundbite which can then be ridiculed). Look around YT and find people who have gone out to locations where huge lines of people seeking testing and care have been reported, only to discover there were no lines and virtually no one at the hospital, even in NYC. We;ve been down this road before with other viruses. Read Dr. Peter Duesburg's 704 page book, "Inventing the AIDS Virus" and see how the scare was used to manipulate the population and put money in the pockets of well placed people in the Clinton administration. Realize that most research is government funded research and those who don't follow the government script lose their funding. Most don't have the courage of Duesburg to risk reputation and income to simply tell the truth. You never heard of him or his book because he didn't get the microphone. Today, credible researchers who dissent with the official script are denied access as well. However, you can find them on YT and elsewhere. I don't ask anyone to believe me, but do your homework! If we allow our country to be turned upside down over something which hasn't even been proved to be the cause of the problem, shame on us. In closing, as a first step, actually go to that link to CDC.gov which gets plastered on everything and actually read the statistics, including the fine print which will tell you the rates they are spouting include those "presumed" to have, or to have died WITH the virus. The CDC doesn't know the mortality rates, and the only way they can accurately project it will be in your city or state in two weeks is if they are causing it. It is bad enough their numbers are based on presumption, but they hope most people will not realize that dying WITH something is is not proof they died FROM it. Let's open the doors and get back to work before more people lose their livelihoods and lives to a "cure" that is worse than the presumed cause.

[@traviswebb625]

Make your bed...Admiral McRaven: kzbin.info/www/bejne/pqmlgn98gcqcbZI