Aim to be an expert in your field = what you love to do and you'll be fine. High performing people are unaffected during crisis.
Ask HN: What skills will be useful during an upcoming recession/depression?
31–40 of 194 posts
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#32Cooking from basic ingredients. Growing a basic seasonal garden. Finding ways to be happy with less and appreciate the simple pleasures in life. Placing value on human relationships more than material things. The art of conversation. Enjoying simple/affordable/accessible hobbies.
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#33Aim to be an expert in your field = what you love to do and you'll be fine. High performing people are unaffected during crisis.
[deleted]
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#34I think the most important skill is learning how to gain access to zero-interest loans from the Federal Reserve. This skill allows you to lend to your buddies who can purchase distressed businesses and properties for pennies on the dollar, which gives you and them the opportunity to make billions in profits while everybody else is suffering. I’m still trying to learn how to do this; if anybody has any information abo…
Another option is to get massive zero-interest loans that the government will forgive later. That way you don’t have to go through the performance of buying a company, you can just pocket the cash.
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#35I think the most important skill is learning how to gain access to zero-interest loans from the Federal Reserve. This skill allows you to lend to your buddies who can purchase distressed businesses and properties for pennies on the dollar, which gives you and them the opportunity to make billions in profits while everybody else is suffering. I’m still trying to learn how to do this; if anybody has any information abo…
You should be looking at borrowing from a bank. The Fed does not lend to individuals.
So step one is "found a bank"?
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#36Honestly, I don’t believe we will see a huge depression unless there is war. People are still available for work and all the equipment used for producing value is in good conditions. So long as government provides fiscal stimulus, depression shouldn’t happen.
In case it happens though, you are better of farming stuff like potatoes and chicken than developing software until government steps in with fiscal stimulus, though it will require some existing capital.
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#37I think the most important skill is learning how to gain access to zero-interest loans from the Federal Reserve. This skill allows you to lend to your buddies who can purchase distressed businesses and properties for pennies on the dollar, which gives you and them the opportunity to make billions in profits while everybody else is suffering. I’m still trying to learn how to do this; if anybody has any information abo…
I hope this is sarcasm, I hope people aren't actually as cynical as this.
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#38I think the most important skill is learning how to gain access to zero-interest loans from the Federal Reserve. This skill allows you to lend to your buddies who can purchase distressed businesses and properties for pennies on the dollar, which gives you and them the opportunity to make billions in profits while everybody else is suffering. I’m still trying to learn how to do this; if anybody has any information abo…
> This skill allows you to purchase distressed businesses and properties for pennies on the dollar
Banks aren’t net purchasers of assets in downturns. (If anything, they tend to shed risk-weighted assets.)
Non-bank financial firms, who have access to cheap financing, but NOT to Fed funding, are the asset accumulators. They go into crises with cash or credit lines. (And tend to be net financiers to banks in crises. Banks go into crises levered. If you depend on bank financing in a crisis, you’re screwed.)
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#39I think the most important skill is learning how to gain access to zero-interest loans from the Federal Reserve. This skill allows you to lend to your buddies who can purchase distressed businesses and properties for pennies on the dollar, which gives you and them the opportunity to make billions in profits while everybody else is suffering. I’m still trying to learn how to do this; if anybody has any information abo…
You should be looking at borrowing from a bank. The Fed does not lend to individuals.
[deleted]
Re: Ask HN: What skills will be useful during an upcoming recession/depression?
#40Knowing Chinese ...
Chinese is not a bridge language like English is.