Stocks and shares across the world have nosedived again after problems at US bank Bear Stearns and the doom and gloom merchants are predicting everything to come crashing down around our ears once again.
Of course a full blown recession means misery for some but for others who don't mind taking advantage of anothers misfortune, it could be a great time.
Looking back at the last recession in the early 90s, we can see just how to make money from a recession if you can handle the face looking back at you in the mirror the next day.
Recession is good for property auctioneers with many of the properties sold at auctions having been repossessed from the financially-stretched by their mortgage company. Good news for first time buyers with house prices slashed and sold for considerably less than the unfortunate previous owner paid.
Second hand car dealers and car auctioneers are the next in the gleefully rubbing their hands club with many people watching their autos being carted away on the back of a repossession lorry and ending up at a car auction and sold on for a fraction of the price.
Shares may go up as well as down so warn the adverts but a well placed bank employee tells me that there are some sure fire winners to snap up during a recession. Apparently shares in utilities companies, food retailers, chemists and tobacco companies always rise when the going gets tough. Obviously the company price of repossession firms will rise briskly with the all added business as well.
Morally it may be very iffy but a recession is not all bad as long as you find yourself on the right side of it and you can block out the lamenting of the newly homeless couple smoking themselves dizzy outside your front door.