How To Prepare for Financial Crisis- Security for the Next Economic Collapse
The worst thing about a financial collapse is that you cannot predict when it is going to happen, how soon it will happen, or how long it will last for.
All you can do is take the steps needed to prepare for an economic collapse, embrace frugal methods, and start thinking about your bank and wallet as a survival tool, rather than a spending tool.
When the last economic crisis hit, the 2008 financial crisis, the world was shocked at the speed in which it set in. From what started as a meltdown in the US mortgage market, the rest of the world collapsed in a domino effect in rapid succession.
For most of us, that economic collapse was something we just weren’t prepared for, and for those that were not prepared, it was a very tough period.
The question everyone is asking now is ‘when is the next economic collapse?’. It could be this year, the next or in five years. But as many economists argue, we are due for one, and the next one could be much worse than the previous financial downturns.
Since the only thing we can do is ready ourselves for another economic downturn, we take a look at 8 steps you can start taking now to survive an economic collapse.
But first, let’s take a look at some of the basics, to understand why we need to prepare for an economic collapse.
What is an economic collapse?
Simply put, an econom
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LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.