10 Tips to Help Survive an Economic Depression
Apr 23, †∑ How To Survive an Economic Depression How To Survive An Economic Depression 1. Throwing Stuff Away Doesnít Help. The economy today runs on single-use items. Itís better, however, to reduce, reuse and recycle. In an economic depression, you especially donít have that luxury. So, to survive an economic depression, you need to buy items that will last funlovestory.comted Reading Time: 30 secs. In an Economic Depression, however, it becomes all about: keeping your job(and maintaining some kind of cash flow); cutting back on extravagant lifestyles; reducing debt; ensuring your assets are safe and accessable; ensuring your bank offers complete security and won't fail;.
Is this collage of recent magazine magazine and book covers a sign of where things are headed A Recession can come in all shapes and sizes but is generally accompanied by:.
Chart courtesy Online Stock Trading Guide. Soup Kitchens. The "Great" Economic Depression of The reality is that very many people will be caught totally unawares and totally unprepared should an Economic Depression befall our generation In an Economic Depression when someone tries to off-load real estate or shares there may not be any buyers. If banks are failing and stocks becoming worthless it may be extremely difficult to preserve your wealth and assets. True, it's not a full replay of the Great Depression, but that's cold comfort.
Unemployment in both the United States and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege. On that last point, I am not being alarmist". We live thirty years longer and are five times wealthier than our ancestors who lived one hundred years ago In this modern society so affected by "Affluenza", and Social Media that connect us to hundreds of "friends" Old Business models are being destroyed and jobs are disappearing offshore at an astonishing rate.
Analysts warn that "China and India are poised to out-think us and out-compete us economic depression what to do their sheer numbers" and that "there is no job security now". Watch the video on YouTube. Read more of Who Ate My Lunch? Disclaimer: This information is of a general nature and for educational purposes only. It does not constitute professional advice. Always seek independent professional advice.
Home Page Contact Blog. Surviving An Economic Depression. In an Economic Depression the rules change. In a prosperous, booming economy it's all about: finding rewarding employment both financially and emotionally ; accumulating wealth and assets for you and your family; indulging in the best and latest life has to offer In an Economic Depressionhowever, it becomes all about: keeping your job and maintaining some kind of cash flow ; cutting back on extravagant lifestyles ; reducing debt ; ensuring your assets are safe and accessable ; ensuring your bank offers complete security and won't fail ; and surviving in a world that threatens to turn increasingly hostile as crime and political instability escalate.
Old Movies Great What is the best family plan for cell phones Photos. Economic Depression Newsflash 13th December "It's time to start calling the current situation what it is: a depression. Would You Believe? Strange but true Pity The Damned.
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Who Ate My Lunch?
A Brief History Of Money
Sep 08, †∑ According to Nicole Foss, the 9 steps to take to prepare for an economic depression are: 1) Hold no debt (for most people this means renting) 2) Hold cash and cash equivalents (short term treasuries) under your own control 3) Donít trust the banking system, deposit insurance or no deposit insurance. A U.S. economy collapse is unlikely. When necessary, the government can act quickly to avoid a total collapse. For example, the Federal Reserve can use its contractionary monetary tools to tame hyperinflation, or it can work with the Treasury to provide liquidity, as during the financial funlovestory.comted Reading Time: 7 mins. Oct 30, †∑ How To Survive An Economic Depression: Money Needs. October 30, September 5, by Chris Green. Money is an essential part of survival. It allows you to purchase necessities to sustain your life. Any emergency will impact the amount of money you have as well as its worth. Youíll spend to replenish your goods.
This article explores one in particular ó how to survive an economic collapse. There is no doubt that the current state of the US is ripe for economic disaster. Though stocks are at an all-time high, our current debt is completely unstable. The U. If the U. If the US economy collapses, the entire world economy collapses.
That alone should be cause for hesitation. So, if we can see the warning signs, and it does seem as if the economy is very likely to collapse sometime in the near to immediate future, what can we do to prepare? Are there steps that we can take to mitigate the effects of such a global disaster to both ourselves and our families? A depression is a rather normal part of the market cycle. As Adam Smith points out in Wealth of Nations , these occasionally happen as the market corrects imbalances within itself.
Who knows. The point is that economic depression is rather normal. We all witnessed the effects of the crash of Thousands lost millions. Yet, if they had kept their money in those sinking stocks rather than withdraw, they would now have exponential returns for their initial investments. Because markets do fluctuate.
When you literally have to pay for a loaf of bread with a wheelbarrow full of bills because of hyperinflation, THEN you have economic collapse. As Ayn Rand points out throughout her books particularly in Capitalism: The Unknown Ideal , it is production which is true wealth. The person who produces, whether that be food, shoes, holsters, or some other form of tangible good, is the one who holds true wealth.
In the same spirit, I would argue that the person who can provide a tangible service as well also has true wealth. An electrician who can provide light to a building, a plumber who can ensure personal hygiene is a diminished issue, and a doctor who can repair a wound are all examples of people who may not necessarily produce tangible goods such as in the case of farmers, leatherworkers, and blacksmiths , but they still are able to produce a service that is both wanted and needed.
So, one of the first things that we can do to prepare ourselves for economic collapse is to become capable of producing. This can be done in two primary ways: by the learning of a new skill or by getting into the business of producing merchandise.
This is part of the reason that I went and became a locksmith. I have more than one job but wanted to have something of a backup plan perchance something should happen to my primary income. Tradesmen are both necessary and typically in short supply.
Learning a concrete skill seemed to be something that would provide a fairly decent insurance policy should I need to fall back on something else. Whether it be plumbing, carpentry, farrier work, or any other kind of trade for that matter, the point is that becoming proficient in a trade is to make yourself proficient in something that is likely to always be necessary.
To look at a rather morbid example of such, we can analyze what the Germans did to the Jews throughout the Holocaust.
The second aspect would be investment in a particular merchandise. It involves producing products, starting a side business of some sort, perhaps. As the saying goes, it takes money to make money. This is where a shopkeeper would fit in.
It is because such a man has invested capital into supplies that he is able to produce wealth for himself. Post-economic collapse though, which supplies will help one to produce wealth, however?
Well, that leads me to the next topic: bartering. I think that one of the first things that people need to realize when it comes to economic collapse is that things revert to a BARTER society. Greece proved this with their recent economic collapse within the past five years or so.
People traded eggs, milk, and meat for what they needed. HE had true wealth throughout the collapse. Again, in Venezuela we saw the same thing.
People resorted to trading bananas for haircuts. True, there will be a very short window in which cash is king until people realize that the paper they have trusted all those years is now truly worthless in every sense of the word, but that window is short. How do I get the things that my family needs? Regarding goods, I believe that the following is a good list to begin with.
These are the things that people are going to need, and that are going to hold intrinsic value post-economic collapse:. When it comes to services, these are the skills that I believe will be in great demand post-economic collapse. It would be wise to learn at least some degree of proficiency in one of them. Keep in mind that all the above are general lists.
Undoubtedly, you will be able to think of both goods and services that will have post-economic collapse value that are not included above. These are simply given to get your mind thinking about some sure-fire ways to be able to barter for what you need in the event of an economic collapse.
Second , I believe that precious metals are much more important for wealth evacuation. To begin with, seldom throughout history do we see precious metals instantly being reverted to as currency post-economic collapse. Stocking precious metals is now how to survive an economic collapse.
They want to be able to feed their families. Gold and silver will not be a readily used means of exchange in such an event. To further complicate matters, gold is incredibly value dense. If we really want to examine the issue, I think that silver would be a better form of currency, precious-metals wise. If you want to read more, read about the best silver for preppers. However, what we see throughout history is the reversion to barter, not to the gold standard.
Silver is too bulky. Shoot, we can even look at the US post-Civil War here. Southern money was worth nothing after the war. However, those with gold and silver were able to have something with inherent value that would be redeemable for the new currency. Again, we can look to the German Jews of the late s. This was a very scary time to be a Jew in Europe. The persecution was very real, and things were heating up. The man who was able to sew gold coins up into the hem of his jacket, and get the heck out of Dodge ASAP was able to arrive at a new and politically friendlier climate with at least some of his wealth intact and under the radar.
Baggage is lost and stolen. Clothing seldom is. Thus, I believe that one of the best purposes of gold is wealth evacuation. If you had asked people a year ago if they ever thought the entire world would enact lockdowns and throw refuse people for not wearing a surgical mask at Kroger, they would have said you were nuts.
Yet, here we are. All of the warning signs are there? Hopefully, however this article has helped you to come to some decisions on the matter. Hopefully, it has given you something to think about. Are there other skills or goods that you believe to be inherently valuable post-economic collapse? Let us know in the comments below! Photo credits: Neil. Alex E. Proimos Wall Street Sign via photopin license. Sustainable Economies Law Center barter copy via photopin license.
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