How to prepare/survive a recession.

How to prepare for/survive a recession.

Hello fellow sciforumites, I would like to hear your views (some of them surely experienced) on how to prepare for a recession or if in the process, survive one. I feel there is an upcoming recession. People here will ask "why"? I won't go into that, that will consume alot of time. That can be explained in another thread. You are welcome to debate the current state of the economy and indicators. All I want to answer is the former question above.

Does it mean living a frugal lifestyle? Or can you invest in something, like T-Bills, and Bonds to have a steady flow of cash? Historically how have people made money off of this "economic purgation"?

 

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buy metal, or a currency pegged to metal. that way when your paper currency becomes devalued, you will still have x$ worth of metal to trade.

become more agrarian, have the ability to feed yourself without having to trade for food.

get a job. when recessions occur, the labour force doesnt change, the currency does, and therefore all service sector 'jobs' that dont actually produce anything go down the drain.

 

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Pay off land, pay off taxes upfront for few years ahead, buy everything that could be of the practical value (forget finances&investments), buy a big (machine)gun or two and pray that landless folks who couldn't prepare for a big one wouldn't hang you on a big tree. That's one of the few ways common Joe could crawl through a big crash. Sure, you could become a criminal lord. The life is going to become pretty "informal" and corrupt. Read everything you can about the collapse of USSR, those folks survived somehow a huge crash. For example, Post-Soviet Lessons for a Post-American Century

 

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Invest in seeds and learn how to grow and tend them; buy a flint and practise making fire; find out where your water comes from; and think how you can help your community adapt to the demands of the time...care for the elderly for they are wise...keep your children happy for they are the future.

 

Isn't gold at historic prices now, I know that gold prices have an inverted relationship with A boom. Do you feel gold prices will hit a $1,000 mark? BTW, the recession I'm talking about will occur in the US, where I live. I feel it will occur fairly soon.

 

I wonder: If the recession is in the US, would it also be a good idea to store your wealth in a foreign currency? I realize that the world would be negatively effected by the US's recession, but perhaps some currencies would still do well.

Following their disaster preparedness process wouldn't require that I join the church, right?

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Buy the coins from the Mormons? Or is this a separate piece of advice?

 

buy lots of cans of food...surround everything by salt...and start digging an underground bunker to live in.

 

Do what the Left has always done: Steal from those who can actually produce wealth.

You know, that involuntary wealth-redistributive, Robin Hood-thingy.

Rob a bank. Shoplift. Car-jack. Purse snatch. Pick pocket. Evade paying taxes.

IOW, just do more of the same.

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Thank you kmguru for your charity in information. You mentioned restricted rations for Gas and such. What about safe deposit boxes, is that a loop hole? Will they restrict that as well? I was also thinking, how will the trading of gold be viable? I'm 19 and have never traded with gold. What will it's intrinsic value be quoted as? i.e 1 coin for 1 chicken.. I hope I'm being clear here.

Also, Historically, have citizens actually relied on rivers for water and hunting for food in a modern society? In recent history that is. Will for example, water producers (companies) be in such demise as to lead to drought on their part? I'm actually only now researching this.

Thank you for any information.

 

If money isn't flowing normally, the employees of the water company might not get paid and the infrastructure might not be maintained. This could result in a total lack of water, polluted water, diminished amounts of water, etc.

Some essentials I would buy (should have at hand just now) - a good axe, a few flints, a few good knives, large amount of matches (dip them in melted candle wax to waterproof) stored in a few seperate containers, a few big tarpaulins, spade, water purification tablets, salt, flour and sugar.

 

I've thought about this very subject quite a bit recently. Some of the major supplies that I'm trying to acquire include:

A pair of strong knives for hunting, cutting, etc.
A lot of matches and a few lighters.
A hearty supply of bottled water and non-perishable foods.
A metal mess kit.
Comfortable warm clothing, including hats, gloves, boots, and blankets.
A sturdy tent or two.
Duct tape.
A fishing pole.
Basic medical items like aspirin, alcohol, and who knows what else might be needed.
A couple of guns and a good supply of ammo.
Two-way radios, a set of watches, and an LED flashlight.
A map and compass.
A good bicycle.

This is just off the top of my head and is meant for a severe recession where survival is the day to day objective. If it's about inflation and investing, then I'd go for the gold and oil.

 

Nice list there, original. I'm interested in survival/bushcraft as you never know when you might need those kind of skills.

In some ways it's pleasant to think of a 'survival of the fittest' type situation, but I wonder how possible it is in our lifetimes.

I might try to write a story about a depression that never ended, but I'll need to get clued up on the politcal aspects first.

A good bicycle is an interesting one. I can't help thinking of '28 days' type scenarios. You're cycling along and you're jumped by a couple of guys intent on stealing your bike and whatever you have on you. Anyway, I'll try not to derail the thread with my thoughts

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Or, is it actually the wealthy who steal from those who produce?

 

The US relies on Canada for 15% of natural gas. If North America was facing some kind of problem I can see Canada cutting off the supply (it's 50% of their natural gas).

Over an extended period, gas is not a safe bet to use for cooking/power. Not just the Canada thing, but sporadic or no supply will leave you enough time to empty the tanks and wonder what to do. Living in or near the woods would make sense, fuel wise. Replacing the electric well pump with a manual pump and somehow concealing it might not be a bad idea. Also, electric lighting might intrigue people and bring unwanted visitors ready to dispose of you for a more comfortable style of living.

Instead of a refridgerator, you could make a larder/cellar or maybe keep food in a container lowered into the well and retrieve it with a pulley.