I agree with your observations on how one should start to protect their saving such as selling off unused item, getting a second job and limiting personal expenditures. I also agreed with the definition of recession, but I don't know if we are in a recession (or a depression) because it has come to light the numbers provided by agencies are unreliable. Such as the labor participation rate, does it seem like that the unemployment rate is as low as the claim. Is it likely that due to how they determine 'who is unemployed' skews the unemployment rate. I don't follow the reasoning to use your excess $$s to buy stocks or bonds. I know the stock market is at it high but if you look at the EPS the high stock price appears to be over valued. As far as bond, look at the yields. What is the reason you state that retirement account limits may increase? Overall the points you make seem to be realistic and very astute.