The 1930s was a horrible time as the Great Depression took hold of the world and some people are weary of history repeating itself as the next great economic collapse is apparently imminent. The Wall Street Crash of 1929 known as “Black Thursday” kicked off the Great Depression, which started in the United States and affected the whole world for a decade.
The effect of this worldwide economic collapse was devastating, to say the least. Consumer confidence fell leading to a decrease in spending and a drop in investments. As a result, industries struggled forcing them to lay off workers. Things got so bad that around 15 million Americans lost their jobs or couldn’t find one. Many people fell in debt as they were forced to buy in credit. Because they had no money to speak of, people also couldn’t pay for their properties thus were repossessed or foreclosed.
Is the next great economic collapse on the horizon?
Many experts, more than 1,000 of them, fear that the recent controversial decision by U.S. President Donald Trump is reminiscent of the days after the stock market crash leading to the Great Depression. On March 1, Trump increased tariffs on steel and aluminum imports by 25 percent and 10 percent, respectively. Economists believe this move by Trump is similar to the Smoot-Hawley Tariff Act during the time of President Herbert Hoover. The act was supposed to keep the country’s economy from failing further by raising taxes on imports. Unfortunately, it only made things worse as other countries applied trade restrictions to the U.S. making it harder for Americans to recover from the Great Depression.
According to the experts, countries affected by the higher tariff may retaliate by imposing their own trade restrictions on the country. Another potential effect of the high tariff is an increase in price of steel and aluminum imported.
The U.S. imports a large percentage of the steel it needs from Canada and other countries. The tariff will cause a major shortage of steel needed by the automotive industry and similar businesses, which will drive up prices of their products. More expensive products often mean less buyers, which may translate to a decrease in income generated. If a company is not earning, it will be forced to lay off employees. In other words, experts believe Americans will likely be the most affected by such tariffs.
This should alarm everyone, Trump critics and supporters alike, and motivate them to think about preparing for the Second Great Depression, in case it happens in this lifetime.
Preparing for the next economic collapse
As with any other emergency situation or apocalyptic scenario, you should be ready. When another economic collapse does happen, money will not be that important. Prices will soar and you can only buy so much with what you have.
The best way to tackle the next Great Depression is to make sure you have all your basic needs covered. You must have enough supplies to keep you alive until things get better. It also pays to be self-sufficient. Off-gridders or homesteaders have a better chance of surviving an economic collapse because they don’t rely that much on industries.
As mentioned, you need to have ample supplies to thrive even during the collapse of society. The most basic needs you have to address are water, food, shelter, and security.
Water
Water is and will always be a valuable commodity. If you live in the city, the water industry provides for you and you only have to pay for their services. During an economic collapse, the water industry will be greatly affected.
Make sure you store lots of drinking water. If you’re already cash-strapped even before an economic collapse, you can still stock up on water buy buying a little extra every time you do the groceries. If you have extra money to spend, buy a pack of bottled water. As this goes along, you’ll eventually notice that you’re supply is growing.
You have a better chance of outliving the recession if you have you own water supply. If you live outside the city, you probably have property where you can drill your own well. Check with local authorities and utility companies before you start drilling. Some states require a permit for this while utility companies may have cables buried.
You can also set up your homestead near a body of water. A pump and filtration system is great if there’s electricity. After an economic collapse, however, the rate of electricity will likely shoot up. You may use a generator but it requires fuel. If you have this set up, stock up on lots of fuel. Otherwise, the good old bucket will do.
If you have to bug out, find a place to settle in that’s near a body of water like a stream, river or lake. You’d prefer clean and fresh water but if there’s none, you can always purify dirty water as long as you have the proper gear and know-how. Stock up on water purification tablets, iodine, chlorine drops, and fire starters and firewood for boiling water.
Food
You can’t depend on the food industry and the government to keep your family fed during an economic collapse. Like with water, buy extra every time you do your weekly grocery shopping.
Stock up on food that are easy to prepare and doesn’t require too much water as this may become scarce. Also, choose the ones that don’t spoil easy and have a long shelf life.
The best option and long-term solution is to grow and raise your own food. Start a garden and raise animals now and reap the rewards even if the dreaded financial crisis doesn’t come. Every time you harvest, keep the seeds so you can plant more. You can also stock up on store-brought seeds.
You can raise chickens in your property so you’ll have an endless supply of eggs and poultry meat. If you have limited space, raising quails is a great idea.
Shelter and Security
In the event of an economic collapse, people will scramble for means to survive. Many will resort to looting and other crimes. If people know you have stockpiles of food, water and other supplies, you will likely become a target.
You need to secure your home along with your family and your belongings. Invest on ways to fortify your place and to defend yourself.
Use door jams to keep unwanted people from entering your home. For your windows, use tempered glass or window films to keep the glass from breaking. If you can afford it, fortify your home with bullet proof windows. You can also install grills, though this can prevent you from exiting a burning home.
Other ways to keep intruders from your home is to build a sturdy wall with barbed wire or spikes, install alarms, and place warning signs.
If all these fail, you need to decide quickly if you will bug out or fight off the intruders. Learn self-defense skills and how to use bladed weapons and firearms. Violence is never the solution but when your loved ones are threatened, it pays to know how to fight back.
The ideal scenario is to be away from all the potential threats. Your homestead should be in a place not many can easily reach. Aside from those already mentioned, you can fortify your homestead with booby traps, tire spikes, and barbed wire fence.
It would be ideal if you prepare for the worst in case the next great economic collapse does come. If history does repeat itself, expect the Second Great Depression to last for a decade or so. You better start learning survival skills and stockpiling supplies if you want to last that long.
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