Truth is I do not know how to prepare for the upcoming global financial collapse. Almost every single financial guru is predicting that our American economic system will collapse by this March 2021. (click here for more info)
It doesn’t take a genius to figure that with millions of people out of work due to the pandemic and with millions of people receiving some form of government assistance (stimulus checks) with no productivity in sight and yet money to burn in one’s pocket, people will be aiming to purchase the same exact product that you want. Less inventory (due to global pandemic) and higher demand increase is part of the inflation formula. The result is always the same: higher prices= hyperinflation. In other words: Economic collapse.
The solution this time is not going to be as simple as cutting one’s cable bill, forgoing the $5 lattes or buying cheaper groceries. I’m sorry to say that this time, our economic collapse is going to hurt. And hurt badly. It’ll make The Great Recession of 2008 look like a pajama party in comparison. No one is going to escape the upcoming increase in everyday prices. Forget about food costs. Last week, with just a dash of a pen and just the thought of lessened oil production, most gas stations across the country have already raised their prices in anticipation of the upcoming shortages. My local gas station here raised the price of a gallon of gas by twenty-five cents. Monday I get a propane delivery. Last fill up two months ago was at $2.29 a gallon. I can hardly wait to see what Monday’s bill will reveal.
Already the politicians are alerting us to their upcoming taxes. How else can a government afford to keep printing out money to cover this pandemic? They have to steal your money so that they can give it to other people who don’t have it. They may call it ‘taxes’ but it’s really theft. Without an increase in production to balance out the score we are just going to see our resources dwindle and dwindle away till there’s really nothing left. The more a government prints paper money, the less your cash holdings will be worth. So, if you thought you were sitting cozy because you had a savings account, it’s time for you to think again.
Last year my property taxes were $930.48. This year they were increased by 37% to $1272.23. I’ve been living here twenty years. Has the locality done anything new to the area? No. How and where does a homeowner come up with the extra $341.75? What must they cut in order to pay their bill on time? My school taxes were increased by 114% despite the school being shut down most of the school term year. Can I get a refund? Doubt it.
You and I both know this phenomenon is visible in our supermarkets. Observe Exhibit A:
I’ve already written that despite all our cuts to our monthly budget, we still have a shortfall of $114.64. What used to cost $2700 a month now costs us $3146. We’re fortunate that we can make up any shortfall from our investments. But, for how long?
We’re not dependent on Wall Street, but as retirees we are dependent on interest rates. I’m continually getting emails from our bank president informing us that he has to once again lower interest costs on Money Market, Savings and CD accounts. And if all else fails, yes, we will have to get rid of one of our cars. Do we really need two cars? As I said, our resources will dwindle and dwindle and we will slowly watch our lifestyle recede.
The middle class is slowly being eliminated. All that will remain will be the rich elites and the poorer classes who will be solely dependent upon the government handouts for their well being. That’s called socialism and we are witnessing the transformation right in front of our eyes.
I don’t know what advice I can tell anyone on how to prepare for the upcoming financial collapse. I can only tell you what we are doing. We’ve stopped eating so much meat and have gone more plant-based in our diet. That may be a healthier choice but hubby ain’t so happy about it. We’ve curtailed much of our spending and have continued to save more money. Granted it may not be worth as much as we thought, but it will be worth something in the long run. We have withdrawn all our holdings in the stock market and transferred almost everything into FDIC holdings. We may sell our 2nd car but hubby is resisting. It’ll be his car that we will be selling and he doesn’t want to let it go. Replacing it would cost us triple of what we sold it for. The savings might not be worth it, at this time.
Out of our budget, as I previously stated, we’re going more meatless and more plantness. No take-outs, no restaurants, no convenience foods (everything is cooked from scratch). We don’t even buy a bottle of water when we step out. We take snacks, coffee and drinks with us whenever we leave the house. I set up a weekly menu, which we sort of follow, and stuck said menu onto our fridge door. We cut our own hair, including the dog’s! We’ve lowered our thermostat and wear sweat shirts inside the house to keep warm. We do our own cleaning, DIYing, repairing and maintenance.
For example: hubby’s been wanting to cut down a bunch of trees that surround our home. He’s worried said trees may one day fall onto our house. The cheapest estimate he could get was between $2,000 to $5,000. Hubby started to do the work himself and hired an out-of-work landscaper to help him. Landscaper’s fee was $780. It may take hubby a year to get the work completed. The savings, however, will be worth the wait.
Lastly, I’ve been working hard on mastering the art of utilizing leftovers. For example, I had a few baked, whole sweet potatoes left over from our lamb dinner (cooked lamb pictured below. don’t blink. you’ll miss it.). I looked up a sweet potato pie recipe off the web, baked said pie using the leftover sweet potatoes (6 in all) and baked my first southern sweet potato pie. It was delicious! A winner!
I’m still baking banana bread whenever I have a single leftover banana or two. I’m still making my vegetable soups from leftover veggies I froze over the summer (with or without cheese topping). And we’ve recently discovered flatbreads @$2.99 for two from Aldi. They make fantastic bases for home made pizza! It’s been a time saver and labor saver for me since I used to make all the pizza dough from scratch. Most restaurants charge between $9 and $15 for a flatbread pizza.
My best advice: continue to monitor your expenses and continue to seek out less expensive alternatives or go without completely. Stay out of debt. Save as much money as possible (even if it’s only a dollar or a five dollar bill: save, save, save). Stay out of risky investments and transfer over to safer investments for now. Listen to the world news (BBC) and monitor what is going on in Europe, especially the UK. Odds are very good America may follow in their footsteps. Do your best to guard your health. Try to eat as healthy as you can. Continue to wear your mask out (CDC now recommends a double mask) and social distance as much as possible. Wash those hands! Use sanitizer! Become more self-reliant and DIY. Prepare for the worst but expect the best. When the SHTF, you’ll be ready, more prepared and not as shocked. God bless.
Our basic menu: we try to stick to this menu plan or at least use it as a guideline.