<prompt> Human: I read a couple of news report claiming that the next big recession is only 1 or 2 years away.Given that the last, major, one was 10 years, it is not such a bad guess to say that a recession in probable in the very near future.So... given that it is likely to happen, how shouldwould you prepare for it?Apart from increasing savings and reducing debt, what other practical steps can you take?Edit: Thanks for all the great responses, I would be interested to know why this was downvoted so much, maybe someone can tell me so I correct it if there is a next time.  <response>: From an investment standpoint, the problem is: the choices that make sense in a recession dont make sense at other times, so if you do prepare but get the timing wrong, you can do worse than if you didnt prepare at all.There have been predictions of a recession coming soon every year for the past at least five, just FYI. 