+How to survive a recession
WE don’t need to use binoculars to see when times are dangerous and difficult. There are many upsetting signs that tell glaringly that life is becoming brutish and short.
These are some of the signs that proclaim unsavoury times…
OPPORTUNISTIC CRIMES AND UPSURGE IN CRIMINAL ACTIVITIES
Those who ordinarily should be upright will begin to detour from the straight and narrow path and seek illegal means of solving their economic problems.
Respectable people will become fraudulent, and those who have the energy and evil mindedness will become robbers, dispossessing motorists and passengers of their valuables in traffic gridlocks.
Many may turn kidnappers, ritualists and traffickers in hard drugs…
There will be more daring crimes in broad daylight from bank robberies to pipeline vandalisation.
Generally, crime rate will soar to a terrifying level and life will become far more insecure.
ROAD RAGE, UNNECESSARY ANGER, VIOLENCE AND JUNGLE JUSTICE
Citizens, because of the frustration in the land, will be quick to anger and become more quarrelsome and disagreeable. Everywhere you turn, you notice loud arguments which quickly turn to exchange of blows and violence.
Those who are caught engaging in petty crimes may face jungle justice of lynching.
There is unrest in the land, and it is easy to see even responsible motorists fighting.
Many people will develop psychological problems which result in rage and violence.
MANY COMPANIES MAKING LOSSES AND CLOSING SHOP
Many hitherto big companies employing hundreds of people and doing well will declare losses (like Oando), lay off staffers (Chevron, Exxon Mobil, MTN) and even close shop.
Smaller companies will die faster.
GOVERNMENT IN DIRE STRAITS
The government is in dire straits, finding it difficult to meet primary obligations. Income coming into the central government’s purse dwindle, and state governments will cry.
Right now, 27 states can hardly pay salaries, their income has nosedived by more than 50 per cent, and the Federal Government has lost more than half of its revenue from oil on account of falling prices (from $108 to $48 per barrel).
Meeting obligations, attending to infrastructure and stimulating the economy are abandoned. And the citizens are worse for it.
MASS RELOCATION TO URBAN AREAS
More and more people, ravaged by economic hardship, move to urban areas from rural settlements. They believe that in cities, they will find their feet.
And many become indigent, homeless, and desperate to survive and engaged in menial and dangerous jobs.
Sometimes, they quickly turn to crime…especially because their hopes are dashed as the city can hardly cater to their needs.
EMIGRATION AT ALL COST
When times are difficult and dangerous, compatriots will ‘seek greener pastures’ in other countries and they are willing to do everything to emigrate.
Stories of people selling all they have and raising huge sums of money to secure their passage abroad become common place.
Citizens endanger their lives to travel abroad, enduring dangerous conditions.
PROFESSIONALS TAKE UP MENIAL JOBS
Because jobs are scarce, with many companies making losses and downsizing, professionals are willing to do practically anything just to earn a living.
Many well trained employees take to menial jobs, vocations well beneath their training and expertise just to make ends meet.
You see Master’s degree holders opting to be drivers (as many did with Dangote Group), and all sorts of basic engagements. Graduates become hawkers of all sorts of services to keep body and soul together.
And many opt for jobs that only pay commission.
8 SIGNS OF RECESSION
There are different ways of identifying a recession and many agree on similar signs which all point to financial difficulties everywhere.
Here are eight signs of recession:
1 Bad loans by individuals and companies.
2 Export shrinking.
3 Panicked investors dumping stocks.
4 Problems in manufacturing sector.
5 Rate of joblessness at a disturbing proportion.
6 Large companies start giving depressing profit figures or making losses.
7 Prices of essential commodities shoot up.
8 Companies stop filling vacancies.