Letter: Fear of recession

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The Independent Online
Sir: Hamish McRae discusses (column, 14 January) the possibility of a recession. What precautions would he suggest for individuals to take, to minimise harmful effects? If those actions were widely applied, would the overall result be to increase the chance of an early deep recession, in the same way that actions in anticipation of a devaluation make it more likely that a large devaluation will soon occur?