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People keep saying "recession proof"

Doesnt that mean, that it would help you keep your house even if you were behind in the morgage? Or kept the bill collectors in line even when you owed money and hadnt made a payment since your hubby or you got laid off? Doesnt that mean for a homebased business that even if you never made a "sale" you would still have that protection? I have only seen 2 recession proof work at home business here.

Or tell me is that not what recession proof means, cause Im confused.

Answer Question
 
Anonymous

Asked by Anonymous at 9:33 AM on Dec. 24, 2010 in Money & Work

Answers (12)
  • It sounds like a catch phrase or a gimmick and nothing more.
    Izsarejman

    Answer by Izsarejman at 9:36 AM on Dec. 24, 2010

  • Recession Proof usually refers to an industry or product that continues to prosper regardless of the economy. In years past, medical professions and liquor sales/bars were considered in this category - but in the last year even those industries have suffered.

    There really isn't anything that is "recession proof." (But it's a good way to get people to believe something is safe!)
    Scuba

    Answer by Scuba at 9:37 AM on Dec. 24, 2010

  • I agree its a gimick unless its pahramcy or legal care.
    Anonymous

    Comment by Anonymous (original poster) at 9:44 AM on Dec. 24, 2010

  • Scuba is correct. Recession Proof refers to an entity (job, business, or product) that is resistant to the outcome of a recession. Although many items have been labeled as recession proof, very few turn out to be so. Frequently the long-reaching consequences of a recession are too much for even the most recession-proof entities

    The only 'recession proof' business that I've ever really seen is drug dealing.

    It's not a gimmick, it is a phrase that refers to an idea of trying to keep yourself viable, even in a poor economy. I believe the phrase originated in the late 70's.
    layh41407

    Answer by layh41407 at 9:52 AM on Dec. 24, 2010

  • layh true, drug dealing i agree, thats what pharmacy is, government and third parties drug dealing. the law covers their butts.
    Anonymous

    Comment by Anonymous (original poster) at 9:59 AM on Dec. 24, 2010

  • It doesn't mean any of the things you listed in your post. It means an industry of job field that is never effected by the economy. For example, hospitals because people still get sick and get into accidents no matter how the economy is doing. Or grocery stores, people still have to eat.
    HotMama330

    Answer by HotMama330 at 10:41 AM on Dec. 24, 2010

  • Yes, "recession proof" just means a business or industry that will always be in demand, and therefore your job (if you're an essential employee in providing that service) is generally safe or can weather the recession. Typically medical and trade industries are recession proof--people will always need medical, personal and repair services.
    LoriKeet

    Answer by LoriKeet at 11:23 AM on Dec. 24, 2010

  • Recession proof also refers to businesses that are debt free. So when the hard times hit, these businesses (or people) won't be as negatively affected because they don't have outstanding debt to worry about while sales are down.
    slw123

    Answer by slw123 at 11:43 AM on Dec. 24, 2010

  • Scuba is correct in regards to what "recession proof" is/means. There are always some specific industries that fair better (but not necessarily go unharmed) in tough economic times: alcohol, porn, morticians, healthcare..etc.. These industries will always make money, not necessarily the people working in those industries though. People will still need and want (or drowned their sorrows..) certain things, even with they do not really have the money for them. Those are recession proof industries.

    There is no such thing as a recession proof job. When I say recession proof I'm not just talking layoffs, I'm also considering: cuts in hours, cuts in benies, wage freezes, loss of bonuses..ect.. The only job I know of that is 100% recession proof. One where you will still get paid 6 figures a year, only worki 180-200 days a year, full benies (best money can buy) full retirement,... is....... Congress Critter............
    pixie_trix

    Answer by pixie_trix at 3:34 PM on Dec. 24, 2010

  • There is no such thing
    rkoloms

    Answer by rkoloms at 2:25 PM on Dec. 25, 2010

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