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Was talking to my Dad tonight, and he is a smart man, he told me to prepare for a recession. He said it is predicted that it is going to get bad, like dirty 30's bad...  
 
i have been doing some research, here is some stuff I found.  
 
InstructionsDifficulty: Moderate  
 
Step1Research your likely job stability and switch sectors if necessary. Jobs likely to survive a recession include health care jobs, government jobs and teaching positions, among others. Risky jobs include construction/ building jobs and jobs that rely on excess cash in the economy, such as those that supply or retail luxury goods.  
 
Step2Pay off debt and build up savings accounts. Since cash is tight during times of economic recession, it is important to prepare for the proverbial rainy day while you still can. Get rid of as much debt as possible, especially unsecured loans such as credit card balances and lines of credit. Small sacrifices now will have a large payback later.  
 
Step3Learn to live on less than your income. You may see pay cuts in your job during an economic recession, so look now for way to trim your budget as much as possible.  
 
Step4Downsize vehicles and sell luxuries such as jet skis and sailboats. During an economic recession you may not have the funds to enjoy these things. If you are able to sell them now, the money could go a long way to help you prepare for an economic recession. Skip your annual vacation as well as you prepare for an economic recession: put the cash in the bank.  
 
Step5Learn how to prepare food (bake bread and make chicken stock, for example), fix the roof and repair household items. Since an economic recession means that money will be tight, learn how to do the chores you regularly pay others to do.