How to Correctly Respond to a Recession

Most people approach changes in the economy like they would an earthquake, he says. They simply don't prepare and become "laxa daisy" Those who know how to respond to a severe economic contraction will be able to move forward or better their position while those that don't are likely to pay the price. As soon as Lehman's collapsed, what did most people do? Cut, back off, retreat - which was the wrong thing to do.