10 reasons to love a recession

By Bankrate.com

Chicken Little and I differ on the coming recession. He hears the R-word and immediately thinks "financial ruin."

I hear "recession" and think "disco!"

If you are old enough to have worn a mood ring, Earth shoes or bell-bottoms the first time around, you probably recall the stagflation days of the 1970s with a bemused mix of humor, national pride and nostalgia.

The forecast was just as dire back then, and for good reason. In 1975, inflation topped 14%, unemployment approached 6% (but doubled that in some locales), and fuel and food prices were headed skyward.

Most of us would be well into the Reagan years before our wallets grew appreciably heavier.

The funny thing is, I don't remember the sacrifice. We drove used cars and lived within our means, since car leasing and credit cards were not yet widespread.

We rented and shared apartments, since the average home mortgage rate hovered around 10%.

We shouldered none of the financial burden of such modern conveniences as cell phones, high-speed Internet or fitness center memberships.

No one wants a recession, of course. It can cause serious economic pain for millions.

However, economists tell us there are some reasons to actually welcome and perhaps even embrace a recession. After all, a recession is the ebb part of the natural ebb and flow of the U.S. economy.

Just as surely as hot markets cool and bulls turn to bears, capitalist economies take a breather every so often to pause and reflect. If they didn't, these corrections would be far crueler.

So, let's smile, lift our half-full cups of regular unleaded and toast these 10 very good things about impending bad times.

Family dinners

Want to start a revolution? Try eating dinner together as a family.

Recessions tend to foster family mealtimes as the pin money that drives fast-food meals and overscheduled lives dries up. Nothing could be better for America, according to the Substance Abuse and Mental Health Services Administration of the U.S. Department of Health and Human Services. (See "Commodifying the family dinner" on MSN Money's Smart Spending blog.)

Research has shown that family meals promote a healthier and more balanced diet, foster better communication and ward off teen suicide, eating disorders and substance abuse.

But no, we can't make your little sister stop kicking you under the table.

Shorter lines at the pump

It seems like only yesterday we witnessed the thrilling rush-hour road rage exchanges at every metropolitan gas station across America as gas hogs great and small furiously jockeyed for the pumps.

Not anymore.

Ever since gas topped the magical $4 tipping point, you can fill up, wash the windows, check the oil, enjoy a leisurely roller-cooked hot dog and a 32-ounce giant gulp and even grab a power nap before the next customer appears in your rearview mirror.

Can curb service of Red Bull and Slim Jims be far behind?

Less junk mail

Thanks to the presumptive recession, many of us have recently glimpsed the back of our mailboxes for the first time in years.

According to the Chicago research firm Mintel Comperemedia, credit card direct mail volume has dropped 19% since October.

Last year, credit card issuers cut their mailings to current customers by nearly one-third (30%). That will free up delivery space for the junk mail we enjoy receiving: coupons.

More coupons

When the going gets tough, the tough clip coupons to help maintain their lifestyles.

A February survey by ICOM Information and Communications in Toronto found that 67% of Americans are likely to use coupons during a recession, regardless of their income.

Traffic to online coupon sites is growing rapidly, with page views up 38% to 281 million in March compared with the previous year, according to the research firm comScore.

Restaurants in particular typically resort to buy-one, get-one-free offers and other discounts to fill their tables in hard times.

Peter Meyers, marketing vice president at ICOM, says coupons can save the average family 25% on their grocery bill, or $2,400 a year based on an $800 monthly outlay. How's that for an economic stimulus?

Continued: More exercise

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