--- title: "Meaning & Key Takeaway of: A recession is when your neighbour has to…" description: "\"A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. And a panic is when you have no bel..." image: "https://sms4smile.com/quotes/i/494/tommy-douglas-17183_belts_a-recession-is-when-your-neighbour-has-t_139961.jpg" --- # A recession is when your neighbour has to tighten his… ![“A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. And a panic is when you have no belt to tighten and your pants fall down.” quote by Tommy Douglas](https://sms4smile.com/quotes/i/494/tommy-douglas-17183_belts_a-recession-is-when-your-neighbour-has-t_139961.jpg) [Download](https://sms4smile.com/quotes/i/494/tommy-douglas-17183_belts_a-recession-is-when-your-neighbour-has-t_139961.jpg) [Open image](https://sms4smile.com/quotes/i/494/tommy-douglas-17183_belts_a-recession-is-when-your-neighbour-has-t_139961.jpg) > “A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. And a panic is when you have no belt to tighten and your pants fall down.” [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Economic downturns affect others, personal crises affect oneself, and panic leaves one unprepared. **In simple terms:** Recessions affect neighbors; depressions affect you; panic leaves you exposed. Key Takeaway Prepare for financial uncertainty. Themes economics personal finance crisis Mood pragmatic cautious Type educational motivational When to use this quote - financial planning - career shifts - emergency funds Key Concepts recession depression panic budgeting Questions to Reflect On - How do you build resilience? - What safeguards help you? A Different Perspective Panic can spur innovation. ★ ★ ★ ★ ★ No ratings yet [Depression](https://sms4smile.com/quotes/about/depression/) [Falling down](https://sms4smile.com/quotes/about/falling-down/) [Neighbour](https://sms4smile.com/quotes/about/neighbour/) [Panic](https://sms4smile.com/quotes/about/panic/) [Recession](https://sms4smile.com/quotes/about/recession/) [Recessions](https://sms4smile.com/quotes/about/recessions/) ## Related quotes > [A recession is when you have to tighten your belt; depression is when you have no belt to tighten. When you've lost your trousers…](https://sms4smile.com/quotes/adam-thomson/a-recession-is-when-you-have-to-tighten-your-belt-depression-is-when/) Adam Thomson > [At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But…](https://sms4smile.com/quotes/george-soros/at-times-of-recession-running-a-budget-deficit-is-highly-desirable/) [George Soros](https://sms4smile.com/quotes/author/george-soros/) > [There is only a recession of the things that people don't want.](https://sms4smile.com/quotes/mark-victor-hansen/there-is-only-a-recession-of-the-things-that-people-don-t-want/) [Mark Victor Hansen](https://sms4smile.com/quotes/author/mark-victor-hansen/) > [Historically in every recovery, because the president rightly did inherit a recession. But historically, the lagging indicator always deals with employment.](https://sms4smile.com/quotes/sean-hannity/historically-in-every-recovery-because-the-president-rightly-did/) [Sean Hannity](https://sms4smile.com/quotes/author/sean-hannity/) > [In this time of recession, it is the time for invention. Did you know both the telephone and the automobile were invented during recessions?…](https://sms4smile.com/quotes/eugene-mirman/in-this-time-of-recession-it-is-the-time-for-invention-did-you-know/) [Eugene Mirman](https://sms4smile.com/quotes/author/eugene-mirman/) > [I was asked what I thought about the recession. I thought about it and decided not to take part.](https://sms4smile.com/quotes/sam-walton/i-was-asked-what-i-thought-about-the-recession-i-thought-about-it-and/) [Sam Walton](https://sms4smile.com/quotes/author/sam-walton/) > [You don't run a business hoping you don't have a recession.](https://sms4smile.com/quotes/jamie-dimon/you-don-t-run-a-business-hoping-you-don-t-have-a-recession/) [Jamie Dimon](https://sms4smile.com/quotes/author/jamie-dimon/) > [Like other presidents before him, Barack Obama inherited a recession. But unlike them, he has made it worse, not better.](https://sms4smile.com/quotes/mitt-romney/like-other-presidents-before-him-barack-obama-inherited-a-recession/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [In a recession, you must be able to call into question everything you've done before.](https://sms4smile.com/quotes/francois-henri-pinault/in-a-recession-you-must-be-able-to-call-into-question-everything-you/) [Francois-Henri Pinault](https://sms4smile.com/quotes/author/francois-henri-pinault/) > [When George Bush finally leaves the White House, the satire industry will briefly join the rest of the economy in recession. It will certainly…](https://sms4smile.com/quotes/rory-bremner/when-george-bush-finally-leaves-the-white-house-the-satire-industry/) [Rory Bremner](https://sms4smile.com/quotes/author/rory-bremner/) > [I realized that the artists who managed to fight through this recession have a better shot at longevity than most. The recession was a…](https://sms4smile.com/quotes/mark-edward/i-realized-that-the-artists-who-managed-to-fight-through-this/) [Mark Edward](https://sms4smile.com/quotes/author/mark-edward/) > [We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20…](https://sms4smile.com/quotes/warren-buffett/we-ve-been-in-a-recession-by-any-common-sense-definition-because-if/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises…](https://sms4smile.com/quotes/nassim-nicholas-taleb/suckers-think-that-you-cure-greed-with-money-addiction-with/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [The Federal Reserve is not currently forecasting a recession.](https://sms4smile.com/quotes/ben-bernanke/the-federal-reserve-is-not-currently-forecasting-a-recession/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The government has to spend money during a recession, because their spending is our earning.](https://sms4smile.com/quotes/linda-ronstadt/the-government-has-to-spend-money-during-a-recession-because-their/) [Linda Ronstadt](https://sms4smile.com/quotes/author/linda-ronstadt/) ## More by Tommy Douglas > [I am proud that my daughter believes, as I do, that hungry children should be fed whether they are Black Panthers or White Republicans.](https://sms4smile.com/quotes/tommy-douglas/i-am-proud-that-my-daughter-believes-as-i-do-that-hungry-children/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [In Washington they have their hawks and doves and in Ottawa we have our parrots.](https://sms4smile.com/quotes/tommy-douglas/in-washington-they-have-their-hawks-and-doves-and-in-ottawa-we-have/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [My dream is for people around the world to look up and to see Canada like a little jewel sitting at the top of…](https://sms4smile.com/quotes/tommy-douglas/my-dream-is-for-people-around-the-world-to-look-up-and-to-see-canada/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [To accept the principal that "all power proceeds from the barrel of a gun" is to accept a society which will be dominated by…](https://sms4smile.com/quotes/tommy-douglas/to-accept-the-principal-that-all-power-proceeds-from-the-barrel-of-a/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [We are all in this world together, and the only test of our character that matters is how we look after the least fortunate…](https://sms4smile.com/quotes/tommy-douglas/we-are-all-in-this-world-together-and-the-only-test-of-our-character/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [Setting people to spy on one another is not the way to protect freedom.](https://sms4smile.com/quotes/tommy-douglas/setting-people-to-spy-on-one-another-is-not-the-way-to-protect-freedom/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [If ever we needed in this country to adopt a new attitude towards homosexuality, this is the time. Instead of treating it as a…](https://sms4smile.com/quotes/tommy-douglas/if-ever-we-needed-in-this-country-to-adopt-a-new-attitude-towards/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [I am sure that hon. members will realize that I am not drawing on my imagination when I state that last fall there were…](https://sms4smile.com/quotes/tommy-douglas/i-am-sure-that-hon-members-will-realize-that-i-am-not-drawing-on-my/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [He was the only man I ever knew who could get money from the rich and votes from the poor with the promise to…](https://sms4smile.com/quotes/tommy-douglas/he-was-the-only-man-i-ever-knew-who-could-get-money-from-the-rich-and/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [ The \[Liberal\] federal government's trouble is that they have a wishbone where they should have a backbone. ](https://sms4smile.com/quotes/tommy-douglas/the-liberal-federal-government-s-trouble-is-that-they-have-a-wishbone/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [Courage, my friends; 'tis not too late to build a better world.](https://sms4smile.com/quotes/tommy-douglas/courage-my-friends-tis-not-too-late-to-build-a-better-world/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [We agree with the statement contained in the encyclical Quadragesimo Anno, written by Pope Leo XIII, that "anything which dominates the life of the…](https://sms4smile.com/quotes/tommy-douglas/we-agree-with-the-statement-contained-in-the-encyclical-quadragesimo/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [The greatest way to defend democracy is to make it work.](https://sms4smile.com/quotes/tommy-douglas/the-greatest-way-to-defend-democracy-is-to-make-it-work/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [I came to believe that health services ought not to have a price tag on them, and that people should be able to get…](https://sms4smile.com/quotes/tommy-douglas/i-came-to-believe-that-health-services-ought-not-to-have-a-price-tag/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) > [We must never underestimate our opponents; nor should we forget that the closer we come to reaching our objectives, the more vicious and forthright…](https://sms4smile.com/quotes/tommy-douglas/we-must-never-underestimate-our-opponents-nor-should-we-forget-that/) [Tommy Douglas](https://sms4smile.com/quotes/author/tommy-douglas/) [Explore all 38 Tommy Douglas quotes ](https://sms4smile.com/quotes/author/tommy-douglas/) ## More Belts quotes > [In our society we have hard nerds and soft nerds. The hard nerds are the ones who used to have the slide rules at…](https://sms4smile.com/quotes/alan-kay/in-our-society-we-have-hard-nerds-and-soft-nerds-the-hard-nerds-are/) [Alan Kay](https://sms4smile.com/quotes/author/alan-kay/) > [The tie's a multi purpose accessory, y'know, belt, school boy, Rambo.](https://sms4smile.com/quotes/noel-fielding/the-tie-s-a-multi-purpose-accessory-y-know-belt-school-boy-rambo/) [Noel Fielding](https://sms4smile.com/quotes/author/noel-fielding/) > [I find it frustrating when people wear belts with braces. That's an interesting one.](https://sms4smile.com/quotes/olly-murs/i-find-it-frustrating-when-people-wear-belts-with-braces-that-s-an/) [Olly Murs](https://sms4smile.com/quotes/author/olly-murs/) > [A lot of the time, if I have samples, I can't tailor a sample. Or, I might have just bought something and I don't…](https://sms4smile.com/quotes/olivia-palermo/a-lot-of-the-time-if-i-have-samples-i-can-t-tailor-a-sample-or-i/) [Olivia Palermo](https://sms4smile.com/quotes/author/olivia-palermo/) > [There's an expectation these days that novels - like any other consumer product - should be made on a production line, with one dropping…](https://sms4smile.com/quotes/donna-tartt/there-s-an-expectation-these-days-that-novels-like-any-other-consumer/) [Donna Tartt](https://sms4smile.com/quotes/author/donna-tartt/) > [Yes?' Joe Solomon sounded like someone with far better things to do. 'Is there any homework?' she asked, and the class turned instantly from…](https://sms4smile.com/quotes/ally-carter/yes-joe-solomon-sounded-like-someone-with-far-better-things-to-do-is/) [Ally Carter](https://sms4smile.com/quotes/author/ally-carter/) > [What is golden is miles under your belt, miles, miles, miles.](https://sms4smile.com/quotes/mario-andretti/what-is-golden-is-miles-under-your-belt-miles-miles-miles/) [Mario Andretti](https://sms4smile.com/quotes/author/mario-andretti/) > [I don't just want the belt, I want every one of their heads on a plate.](https://sms4smile.com/quotes/conor-mcgregor/i-don-t-just-want-the-belt-i-want-every-one-of-their-heads-on-a-plate/) [Conor McGregor](https://sms4smile.com/quotes/author/conor-mcgregor/) > [To pray only when in peril is to use safety belts only in heavy traffic.](https://sms4smile.com/quotes/corrie-ten-boom/to-pray-only-when-in-peril-is-to-use-safety-belts-only-in-heavy/) [Corrie Ten Boom](https://sms4smile.com/quotes/author/corrie-ten-boom/) > [In his study of Atlanta over the last 60 years, Kevin Kruse convincingly describes the critical connections between race, Sun Belt suburbanization, the rise…](https://sms4smile.com/quotes/dan-carter/in-his-study-of-atlanta-over-the-last-60-years-kevin-kruse/) Dan Carter > [I have ten marathons under my belt, including four New York races and one Boston.](https://sms4smile.com/quotes/harvey-mackay/i-have-ten-marathons-under-my-belt-including-four-new-york-races-and/) [Harvey Mackay](https://sms4smile.com/quotes/author/harvey-mackay/) > [Microsoft is still not a black belt.](https://sms4smile.com/quotes/ken-kutaragi/microsoft-is-still-not-a-black-belt/) [Ken Kutaragi](https://sms4smile.com/quotes/author/ken-kutaragi/) > [It makes my skin crawl to think about the violent ways snakes, lizards, alligators and other exotic creatures are raised and killed for boots,…](https://sms4smile.com/quotes/kelly-brook/it-makes-my-skin-crawl-to-think-about-the-violent-ways-snakes-lizards/) [Kelly Brook](https://sms4smile.com/quotes/author/kelly-brook/) > [Sorry,” he said. “Let me drop the belt-" “No.” She held on when he would have pulled away. “Don’t. I like it.” Again, he…](https://sms4smile.com/quotes/jill-shalvis/sorry-he-said-let-me-drop-the-belt-no-she-held-on-when-he-would-have/) [Jill Shalvis](https://sms4smile.com/quotes/author/jill-shalvis/) > [How'd we come up with the robe? Was some guy just like, 'Hey, I've got an idea! Why don't we make a coat out…](https://sms4smile.com/quotes/jim-gaffigan/how-d-we-come-up-with-the-robe-was-some-guy-just-like-hey-i-ve-got-an/) [Jim Gaffigan](https://sms4smile.com/quotes/author/jim-gaffigan/) Browse all 497 Belts quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. 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