Some entrepreneurs aren’t in business to present a new idea; they’re there because they love the thrill of entrepreneurship. These individuals aren’t necessarily looking to revolutionize anything. All they want is a business resistant to the ebb and flow of the economy. For some, the current events in the US are feeding fears of an impending recession. Reasonable or irrational speculation, only time will tell. In this article, Adam Ferrari – CEO of Ferrari Energy – details seven industries considered recession-resistant.
Technology
Innovative technology is at the forefront of the global economy. We love our widgets, and technology holds out the promise of making our lives evermore productive, enjoyable, safe, and healthy. A prolonged recession could be expected to dampen high-end, less essential technology products. Still, household and business staples such as phones, TVs, and computers will continue to sell with additional competitive pressure.
Energy
Our need for reliable energy is constant. This reliance is not dependant on economic conditions. Innovative energy solutions can be expected to experience waning interest. Still, legacy energy sources such as oil, natural gas, coal, wind power, and solar will continue to meet the country’s needs.
Pet products
Maybe not the most obvious candidate for this list, but people are not any more likely to stop caring for their pets under poor economic conditions than they are their family members.
Healthcare and Senior Services
Hopefully, even more than pets, people will not decrease their healthcare expenditures under anything less than the direst economic conditions. People continue to age and become ill and will need medical services. These are the least discretionary services.
Construction
Even in an economic recession, construction will continue. It may look different than it does under bright financial news, but it will continue nonetheless. If new homes sales slump, upgrades and remodel work usually increases.
Security
Poor economic conditions affect scofflaws just as they do law-abiding citizens. Poor economic conditions historically have been accompanied by an increase in crime. The need for security, both physical and cyber, will not decrease in a financial downturn. The more cost-effective a security solution is, the better it will fair in these conditions.
Food and Beverage
People need to eat no matter the stock market. Every other category will suffer before food and beverage. The more basic the food item, the more stable it will prove to be. Exotic items are more susceptible to economic conditions.
To find the common denominator for all of the above industries or to identify others, ask, “what will people need, even if the economy tanks?”
About Adam Ferrari
Adam Ferrari is an accomplished petroleum engineer and is the founder of a private oil and gas company, Ferrari Energy. Throughout various roles in the oil and gas industry, Adam was inspired to learn more about property rights and the inner workings of petroleum exploration and extraction. After gaining expertise in the energy sector, Adam obtained knowledge of the financial industry through his time at an investment banking firm. He then pivoted to bootstrapping his own business from the ground up as he blended his energy and finance knowledge.
New details of people and institutions targeted by the US and UK surveillance have been published by The Guardian, The New York Times and Der Spiegel.
The papers say that the list of around 1,000 targets includes a EU commissioner, humanitarian organizations and an Israeli PM.
The secret documents were leaked by Edward Snowden, now a fugitive in Russia.
They suggest over 60 countries were targets of the NSA and Britain’s GCHQ.
Edward Snowden left the US in late May, taking a large cache of top secret documents with him
The reports are likely to spark more international concern about the surveillance operations carried out by the US and the UK.
News that the National Security Agency (NSA) had monitored the phone of German Chancellor Angela Merkel triggered a diplomatic row between Berlin and Washington in October.
The New York Times that GCHQ monitored the communications of foreign leaders – including African heads of state and sometimes their family members – and directors of UN and other relief programmes.
The paper reports that the emails of Israeli officials were monitored, including one listed as “Israeli prime minister”. The PM at the time, 2009, was Ehud Olmert.
The Guardian wrote that GCHQ targeted the UN development programme, UNICEF, German government buildings and the EU Competition Commissioner, Joaquin Almunia.
According to Spanish media, the NSA secretly monitored 60 million phone calls in Spain in one month.
The reports say the latest allegations came from documents provided by forer NSA analyst Edward Snowden.
They say the NSA collected the numbers and locations of the caller and the recipient, but not the calls’ content.
This comes as a EU parliamentary delegation prepares for a series of meetings in Washington.
The officials from the European parliament’s Civil Liberties Committee will speak to members of Congress to convey concerns and gather information.
Meanwhile a Japanese news agency says that the NSA asked the Japan’s government in 2011 to help it monitor fibre-optic cables carrying personal data through Japan, to the Asia-Pacific region.
The reports, carried by the Kyodo news agency, say that this was intended to allow the US to spy on China – but Japan refused, citing legal restrictions and a shortage of personnel.
The NSA secretly monitored 60 million phone calls in Spain in one month
The White House has so far declined to comment on Monday’s claims about US spying in Spain, published in the newspapers El Pais and El Mundo.
It is alleged that the NSA tracked millions of phone calls, texts and emails from Spanish citizens between December 10 2012 and January 8, 2013.
The US ambassador to Madrid has been summoned to meet a Spanish foreign ministry official later on Monday to discuss earlier allegations about US spying on Spanish citizens and politicians.
It follows German media reports that the US was bugging Chancellor Angela Merkel’s phone for more than a decade – and that the surveillance only ended a few months ago.
Angela Merkel is sending her country’s top intelligence chiefs to Washington this week to “push forward” an investigation into the spying allegations, which have caused outrage in Germany.
Britain’s Guardian newspaper reported on Friday that the NSA had monitored the phones of 35 world leaders. Again Edward Snowden was the source of the report.
London Marathon organizers have decided to review the Sunday’s race security after two fatal explosions hit the Boston Marathon yesterday, but the event will go ahead, officials say.
At least three people were killed and more than 140 injured by the blasts near the finish of the Boston Marathon.
Sports Minister Hugh Robertson said he was “absolutely confident” the London Marathon could be kept safe.
London had “enormous experience” of delivering major events and the UK had some of the best security professionals in the world, he said.
Hugh Robertson added: “This is one of those instances where the best way to show solidarity with Boston is to continue.”
Home Secretary Theresa May has been briefed on the bombings by Scotland Yard Assistant Commissioner Cressida Dick and MI5 chief Sir Jonathan Evans.
London Marathon organizers have decided to review the Sunday’s race security after two fatal explosions hit the Boston Marathon
At this stage, there are no plans for a meeting of the UK government’s emergency committee Cobra, but high-level discussions were already planned and will go ahead because of Margaret Thatcher’s funeral on Wednesday, April 17.
The Metropolitan Police said security for the funeral in central London would not be affected by the Boston Marathon explosions and that it was a very different event.
London Marathon chief executive Nick Bitel said in a statement: “We are deeply saddened and shocked by the news from Boston.”
He later said he “fully expected” the London Marathon, which first took place in 1981 and was completed by more than 37,000 people last year, to go ahead.
Nick Bitel said security plans “take account of many contingencies, including this type of threat and incident, but one can’t be complacent and when it has happened, you need to then review those plans you have in place to see what else may be necessary.”
St James’s Palace said Prince Harry would still attend the marathon to make the presentations to the winners.
The London Marathon route, which is lined by hundreds of thousands of spectators every year, starts in Blackheath and finishes near Buckingham Palace, passing some of the capital’s most recognisable landmarks including Tower Bridge, Canary Wharf and Big Ben.
London Mayor Boris Johnson described Boston Marathon bombings as “shocking, cowardly and horrific”.
He has spoken to Met Police Commissioner Sir Bernard Hogan-Howe about the possibility of extra security for the London Marathon.
“We do have robust security measures in place, but given events in Boston it’s only prudent for the police and the organizers of Sunday’s race to re-examine those security arrangements,” he said.
British police say they have also launched a review of security for the Greater Manchester Marathon, due to take place on Sunday, April 28.
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