Things to Do Before the Economy Collapses This post may contain affiliate links.  As an Amazon Associate I may earn a commission from qualifying purchases.  I shared an article on social media recently discussing the looming possibility of an economic collapse in the near future. To my surprise, a comment caught my attention: "Why am I constantly bombarded with this alarm for years when nothing significant seems to occur?" That's an interesting question. With all the talk about the sky falling and it never actually happening, it's difficult not to hold some doubt. Following the stock market crash in 2008, there was a widespread belief that an impending economic collapse was looming. However, little did they know that the very collapse they feared had already materialized in 2008. Ever since that time, the economy has made a gradual comeback. However, the underlying issues that caused the crash were never addressed, resulting in the revival of a new economic bubble. This bubble, however, is bound to burst eventually. In order to prevent the economy from plunging into utter chaos, the Federal Reserve resorted to printing substantial amounts of money to bolster Wall Street. Subsequently, they were compelled to repeat this action amidst the Covid recession. However, with each instance, they continue to print an even greater amount of money, resulting in the re-inflation and expansion of the "bubble." Consequently, the more it expands, the more catastrophic the subsequent crash will inevitably become. At some point, the economy will reach a stage where the Federal Reserve's ability to rescue it becomes limited. According to economic analysts, that day is nearly upon us. The continuous printing of money will no longer be a viable option due to its adverse impact on inflation. However, raising interest rates would be detrimental to the economy as it would lead to a stagnation. In essence, they have cornered themselves with no viable options. We find ourselves amidst the largest financial bubble of all time. I firmly believe that the upcoming downturn, which some may label as a mere recession, is imminent and will commence in the upcoming months. The markets are on the verge of being rattled, with the Federal Reserve rendered powerless in its attempts to prevent an imminent economic collapse. Given the current circumstances, I firmly believe that it is crucial to prioritize the preparation for an impending financial collapse. Consequently, in this post, I will outline several essential actions to undertake prior to its occurrence. Let us commence with the most apparent measures. Stockpile Necessities It is generally wise to have additional food and water available, especially if you reside in an area where severe weather conditions can disrupt your daily routine. However, in order to adequately prepare for an economic collapse, it is imperative to ensure you have several months' worth of supplies stocked up. Ensure that you have an ample supply of food to endure an entire season without relying on any self-grown produce. Additionally, stock up on a sufficient amount of water to last for several months, and make certain that you have multiple means to purify any future water sources. Stockpile medical supplies and prepare for possible shortage of doctors after a collapse. Prepare for power outages by having cooking and heating solutions. Consider home security measures. Desperate times make for desperate people. Build Some Bug-Out Bags If the collapse is severe enough, your town or city could potentially become extremely hazardous, leaving you with no alternative but to evacuate and seek shelter in a bug-out location. But first, you’ll want to put together bug-out bags for yourself, your family and even your pets. It is advisable to also take into consideration acquiring a reliable bug-out vehicle. If your current means of transportation is limited to a small car, it will be challenging for you to reach your intended destination effectively. Grow Your Own Food If you don't happen to possess a massive underground vault resembling Fort Knox in your own backyard, it's highly unlikely that you'll be able to amass a supply of food vast enough to last you and your loved ones a lifetime. However, an exceptionally viable alternative would be to cultivate your own sustenance. Starting to grow your own food sooner rather than later is essential, considering the significant journey of trial and error required before you reach a point where you can sustain yourself with your own produce. Create Your Own Electricity or Learn to Live Without In the unfortunate event of an economic collapse, placing complete dependence on the power grid seems far from ideal. The greater your reliance on electricity for everyday activities, the further you will be left behind when the power supply ceases to function. Learn how to efficiently perform your daily activities without relying on electricity. By incorporating kitchen gadgets and off-grid lighting that operate independently from power sources, you can significantly enhance your lifestyle. Additionally, when paired with a portable generator to cover your essential needs, you will achieve a level of self-sufficiency and unparalleled comfort. An excellent source of off-grid appliances and tools is Lehman's located in Ohio's Amish country. Keep Cash on Hand If the market crashes, it is important to have cash readily available to quickly make emergency purchases before inflation or a complete economic collapse occurs. Keeping a significant amount of cash on hand can help you navigate through a difficult situation without the need to go to the bank. You never know when the need may arise, particularly during a power outage when credit card transactions are inaccessible. Invest in Precious Metals In times of currency depreciation, gold and silver remain reliable mediums of exchange even in the face of adversity. In fact, during times of inflation, the value of gold and silver skyrockets astonishingly, as these precious metals stand steadfast against the fluctuations of the economy. Ensure that you possess them in a form that is readily exchangeable, such as coins, rather than in a larger format like bars. Stock Up on Items You Can Barter With  In a deflationary collapse, it is advisable to have cash on hand, while in an inflationary collapse, precious metals are recommended. Having all three – cash, precious metals, and barter items – would be ideal, if possible. And in a total collapse, you’ll want barter items. Try to have a little bit of each so you’re prepared for every possibility. Get Out of Debt After securing some funds, precious metals, and items for barter, it is crucial to focus on getting rid of debt. In the event that the economic crisis is not completely devastating and society's infrastructure remains intact, maximizing the value of your money becomes essential. Therefore, prioritize becoming debt-free as swiftly as you possibly can! You need to ensure that you are able to promptly adapt to any sudden shifts in the economy. In the event of inflation, the risk of losing your home or facing scarcity can become a grim reality. It is crucial to avoid being indebted to your creditors for the funds necessary to ensure your survival. Lower Monthly Bills & Spend Less Along the same lines as clearing your debts, make a conscious effort to reduce your expenses and minimize your spending at the store. By doing so, you will free up your funds for more significant pursuits. Being indebted to multiple sources can be a significant disadvantage in times of crisis. Earlier, we discussed some excellent methods for reducing your monthly expenses, such as cultivating your own food, generating your own electricity, and eliminating your debts. Create an Emergency Fund Create an emergency fund after getting out of debt. This fund will help you handle any unexpected situation during a disaster. Saving 3-6 months' expenses can prevent you from entering crisis mode during an unstable economy. To do this, start learning new ways to save money. Learn to Eat Healthy and Exercise Eating properly and staying active are crucial in preparing for a survival scenario, such as an economic collapse. During such situations, your energy expenditure will likely increase as you strive to ensure your survival. Therefore, establishing good eating habits and engaging in regular exercise is essential to equip yourself for the challenges that may arise. Knowing the right fuel to nourish your body will yield long-term benefits when you find yourself striving to stay satisfied. Learn Self-Defense Now is the perfect time to learn self-defense. Begin by getting some firearms training and becoming skilled with rifles, shotguns, and pistols. These skills can be essential to protecting yourself, others, and for hunting purposes. Make sure to stockpile ammunition in case of a shortage or a time when it becomes difficult to purchase or find any. Enhance the Security of Your Home In the aftermath of an economic collapse, we must be vigilant as there will be numerous individuals driven by desperation who, without hesitation, may resort to breaking into our homes to access essential provisions for their families. Make it difficult for intruders. Strengthen the security of your doors and windows, install alarm systems to prevent surprise attacks, install solar-powered motion lights to discourage them, and acquire firearms and ammunition as a last line of defense in case they find a way into your home. By following the tips above, you can go a long way to being able to survive the coming economic collapse. Read the full article