How to Prepare for a U.S. Depression
Although we would like to believe that an economy only experiences prosperity, we must be open to the possibility that a depression could occur in the near future. As of 2009, one Great Depression has already occurred not too long ago, and the chance of another one occurring is always possible. In a depression, mass chaos and panic over the collapse of the economy are possible. Preparing for a possible U.S. depression and taking the necessary steps will help you feel more at ease.
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Instructions
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Stock up on canned goods as well as bags of rice, noodles and other nonperishable goods. Store these in an area of your house that is safe from water, contaminants and pests.
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Buy gallon jugs of water as well as a water filter for your sink. Although tap water is not as clean as spring water, a filter will help purify the water so that it is safer to drink.
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Convert some of your money into precious metal bullion such as silver, gold and platinum. This is recommended because in a depression, cash can become useless. In 2009, precious metal prices are climbing and reaching prices that are higher than ever. Go to the Monex website for more information on how to buy precious metal bullion.
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Stock up on firearms and ammunition. If you prefer not to use a gun then make sure you have at least a knife, can of mace or a bat. Looters often arise out of a depression so it is best to make sure that your family and loved ones are protected from danger.
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Buy candles and stock up on batteries for flashlights. In a depression the power could go out so you want to make sure that you have the means to light your house. Stock up on firewood if you have a fireplace in your house. This will provide warmth if your gas heater shuts off.
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Stock up on medication, drugs and other materials such as contact lens solution, soap and toothpaste. Only buy the essentials. Sell all non-essential materials such as televisions and video game consoles.
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Learn a valuable trade. In the event of a depression there could be a great need for construction workers, doctors, scientists and teachers.
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Tips & Warnings
Although it is recommended to prepare for a depression, a strong mind and a positive outlook on life are the best tools. Start preparing well before the depression hits.
