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Aftershock: Protect Yourself and Profit In The Next Global Financial Meltdown, Second Edition by Robert A. Wiedemer, David Wiedemer, Ph.D., Cindy Spitzer

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Some Limited Good News: The Necessities Sector (Health Care, Education, Food, Basic Clothing, Transportation, Government Services, and Utilities)

In the job market, the Necessities Sector is the place to be. Historically many of the jobs in this sector don’t pay very well, and they will pay even less well after the bubbles pop. But, at least you will have a job, and it will be much more stable and reliable than most other jobs in the postbubble economy. Even at lower pay, Necessities Sector jobs will be a godsend for families with a spouse who used to make more money than his or her mate, but is now unemployed. The lower-paid, still-employed spouse, working as a nurse, teacher, medical administrator, or other Necessities Sector employee, will likely retain his or her job and be able to carry the family through the worst of the downturn.

The Necessities Sector is composed primarily of health care, education, utilities, basic food, basic clothing, and government services, usually run by government or other nonprofit entities. The private companies that supply these government and nonprofit entities have the potential to survive, as well. Of course, as things get increasingly negative for the rest of the economy, the Necessities Sector will also take a hit because it currently contains a larger portion of discretionary spending (spending on high-end items within the Necessities category) that will be drastically cut. The difference is that this sector will not do quite as badly as ...

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