Facing an Economy and Economic Indicators collapse is scary, however, there are things you can do. Here are five threats you’ll face in an economic collapse to be aware of.
Do you know what could happen if an economic collapse occurs? Not everyone is fully aware of the bad things that can develop over time when an economy takes a downturn and is no longer booming and boosting like it was before.
5 Threats You’ll Face When the Economy and Economic Indicators Collapse
If you’re not sure what types of threats you’ll potentially face during an economic collapse, check out this list of the standard five threats that can happen during these difficult times. When you know what can happen, it’s easier to prepare for the worst possible scenario while hoping for the best.
During the first note of an economic collapse, people tend to panic. When they’re worried about the possibility of running out of essentials, such as food and water, it’s common for people to start looting. In the beginning, they’ll loot businesses to grab items that they think they’ll need to have during the economic collapse.
However, looting can take a greater turn for the worse. Unfortunately, in some situations, people start looting the homes of others, creating a dangerous situation for everyone.
Prepare for the Worst
It’s essential to have a stockpile of items for emergencies. You won’t have to worry about rushing out to the store and dealing with the looters to grab essentials for your family because you’ll already have those items at home. The only worry you’ll need to deal with is the possibility of someone attempting to break into your property to loot it.
Take drastic security measures to stop people from accessing your property. It’s beneficial to have strong security locks, surveillance cameras, and multiple means of protection, including firearms with plenty of ammunition. While you may have no intentions of harming anyone, you need to have a way to protect your loved ones when dealing with serious threats from potential intruders and attackers.
During an economic collapse, it’s not uncommon for inflation to occur. As a result, the currency becomes useless. Even if you have plenty of paper money, it may hold absolutely no value, making it impossible for you to buy things that you truly need during a crisis. Because inflation can occur, causing the currency to become invaluable, collecting other cash alternatives is an excellent idea.
Currency Will Become Worthless
This is pretty obvious when looking at and Economy and Economic Indicators failure. Investing in gold isn’t a bad idea. If you have the extra money to do so, you can begin collecting gold coins and bullion, both of which hold value in places all around the world. You may also want to think about what you can offer to others in exchange for their services.
Provide a Service Instead
If you need something from someone else, you might be able to provide a service that you’re good at doing. It’s a great way to get what you need without necessarily paying cash for those essentials. It’s a traditional form of bartering that existed long before currency ever did.
3. Food Shortage
A food shortage may occur as people begin looting and stores can no longer keep up with the demands of their customers. It’ll become increasingly challenging for stores to keep the shelves stocked as people continue to come to the stores and buy items on impulse because they’re in a panic over the situation.
When people feel that they won’t have access to food or beverages, they often rush out to buy non-perishable items and anything else they can get their hands on. Unfortunately, this leaves the shelves bare more often than not.
Know How to Prepare
Ways to protect yourself from a food shortage include growing fruits, vegetables, and herbs in a garden on your property and building a stockpile of non-perishable foods over time. You don’t need to rush out each day to buy more items for your family. Grab the items while they’re on sale and save them.
Store the Items Correctly
You can store rice, pasta, canned meats, and other items for extended periods without the food going bad. You might even want to think about canning to preserve fruits, vegetables, spreads, and meats for months or years at a time.
4. Government Shutting Down
Although it’s not as common in first-world countries, it’s a real threat for those living in third-world countries. The government shutting down is a big deal. If there isn’t enough money to go around, services that people are used to having access to all the time, such as medical care and policing, may no longer exist.
If there isn’t money to pay these people for their services, those working in different fields may no longer do their jobs, putting many lives at risk.
Prepare Where You Can
Not having police or emergency responders around is a significant problem. Without the possibility of getting caught for wrongdoing, it could lead to a major increase in crime, ultimately resulting in more lives lost. A lack of medical care could lead to widespread infections causing major health issues and possibly even death. While it’s not the kind of thing anyone wants to think about, a government shutdown could cause massive problems.
5. Service Shortages
A major economic collapse could lead to severe service shortages. It doesn’t just mean not being able to go to the store, but also many other things. You may no longer have gas to keep your home warm, electricity to keep the lights on, or running water to flush the toilet and take a bath.
A Turn for the Worst
When you don’t have water or power, things can take a drastic turn for the worse. So, what can you do to help yourself if service shortages happen? The best thing to do is to buy products that you can use during these emergencies.
For example, you may want to get a portable toilet that you can use in case of an emergency. Along with a portable toilet, you can buy a portable non-electric stovetop and dozens of candles to use if you don’t have electricity to turn on the lights.
Understanding the threats that you’ll face in an economic collapse is important. It’s not about trying to scare you but preparing you for what could potentially happen. If you know of the possible threats, you can take specific steps to protect yourself and your loved ones from experiencing turmoil amid an economic downfall.