1mr what is your suggestion to protect against the oncoming depression?
I think your posts have been spot on, the Chinese buying up the country is the idea that scares me the most.
If it's a true depression we fall into, much like what was seen between 1929-1939, then many of the safeguards we have in place to protect against a recession or hyperinflation are put aside.
I can give you relatively straight forward advice to protect against either hyperinflation or a recession, but when it comes to a depression, I believe we have to learn from our grandparents that lived through it.
Some things people can do for work and other things I believe can help:
Having practical skills that are always in demand (cook, electrician, plumber, carpentry, house building etc). I think people that have these types of skills will fare very well in the case of a depression.
Medical personnel (physicians, nurse practitioners, physician assistants, nurses) will be very much in demand. People get sick and die every day under normal circumstances. In cases of dire financial times, people get sick and die more frequently due to a lack of resources, access to adequate living conditions and medical care (see: Africa).
Get rid of your debt before shit goes down. Just because a great depression occurs, doesn't mean people won't want their money. People will double down on collecting debt harder to ultimately have more cash on hand. While the intrinsic value of cash will slowly go away, it will slowly go away and people will still use it as a means of commerce before barter becomes a thing again.
Stock up on non-perishable foods that can last a year or longer.
Consider buying land near a river with active sea life and acreage you can farm. I know some of our members do own a few acres in uninhabited land that can be used for farming purposes and with close proximity to bodies of water. A water filter, adequate wild life to hunt and good soil for growing your own vegetables and fruits can go a very long way.
Learn to make alcohol and grow marijuana. If people are happy, they like to get high and intoxicated to celebrate. If people are sad and unhappy, they like to get high and intoxicated to forget. If people are fine, but bored, they like to get high and intoxicated. These types of drugs can be traded for money, goods and services.
These are my best guesses regarding a depression. Remember, I have never lived through a depression. My financial and accounting know-how make me better suited to advise regarding what to do in a bad recession or periods of hyperinflation.
I'm just as curious as anyone else as to what would be ideal to do during another great depression.
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