It does not take an economist to see trouble in the near future for our economy.  I do not watch television.  I do not read the news paper.  On top of that I live in Canada where the news is reported, not brandished like a weapon. I want you to understand that I am judging by what I perceive rather than what I am led to believe by "free media" 

My new years plan, considering the current economy is to hope for the best but prepare for the worst.  With the fall of the big automotive giants, the  massive layoffs, the struggling market and joyously giddy politicians, its not hard to predict a ressesion is forthcoming.  Many of these clues where seen before the depression hit my grandparents generation. 

It does no good to dwell on impending hardship, but it certainly doesn't hurt to prepare for it.  There are a few things one must always keep in mind when thinking along these lines.  Do NOT despair.  The feeling of helplessness is the primary killer in almost any survival situation. Guilt and shame that you could not do anything to prepare, or to cope with current hardship, will lower you moral to the point whereas any opportunity to help yourself will pass by unnoticed.  "Keep your chin up" my grandparents used to say.

When I say prepare for the worst, I'm not talking about building a bomb shelter and filling it with canned goods.  As hard as it may be to believe, stockpiling food, water and fuel is somewhat counter productive.  The goal is to learn how to cope without those things, and to suffice with what you do have.  Stockpiling will only make you a target for theft and give you a false sense of security.  Information is the only thing you should be gathering in abundance. We live in an age where information is only a few clicks away. Use these resources while we have them.  There may come a time where you won't have google and wikipedia(goodness forbid) and its best if you brush up on your depression survival history, now while you relax in your favorite comfy chair.

Also on my list for the new year is to invest in my family.  When times get tough family sticks together no matter what.  As hard as things may get, you should always be able to rely on your family and have them rely on you.  Spend time with your parents and grandparents.   I am renowned for dropping off the map for years at a time and this has put a strain on my family and myself though at the time I refused to admit it.  Instead of spending all my time hunting an extra buck, I will spend some time teaching my kids how to craft fire and use pocket knives. 

As cliched as it may sound, I am making a vow to not take everything for granted this year as I have done in the past.  Its a hard thing to do in such a fast paced world, where we are always on to the next thing before what we had was even explored.  I plan to find a new phrase to reinforce my goals for 2009 as "oh shiney" just doesn't seem to cut it anymore.

I hope to hear some feedback on this as I am very curious to know what your plans are for the current economy and the new year.  Hoping you have a happy holiday and happy new year...

Scott