- Watch The JD Rucker Show every day to be truly informed.
Do you remember what economic conditions were like in 2008 and 2009? Well, what is ahead of us is likely to be significantly worse. There will be severe pain for those that get blindsided by this new crisis, but those that choose to get prepared in advance will have the best chance of successfully weathering the coming storm. This week, we learned that the rate of inflation in the United States surged even higher last month. And this is happening even though the overall economy is steadily slowing down. At this point, the vast majority of the population understands that economic conditions are rapidly deteriorating. In fact, one recent survey discovered that 70 percent of all Americans now believe that an economic downturn is ahead of us…
Most Americans — 70% — already believe an economic downturn is on its way, according to a new survey from MagnifyMoney. The online survey was conducted between June 10 and 14 and included 2,082 respondents.
Sadly, it is likely that a recession is already here. The U.S. economy contracted during the first quarter of 2022, and the Atlanta Fed’s GDPNow model is currently projecting -1.2 percent growth for the second quarter.
Two quarters of negative growth in a row would mean that we are officially in a recession at this moment.
But many experts are warning that much worse is ahead, and we continue to get more evidence of this with each passing day.
For example, it is being reported that the number of vehicle repossessions is exploding, and many of these vehicles were just purchased during the “mini-boom” that we witnessed in late 2020 and early 2021…
Lucky Lopez is a car dealer who has been in the business for about 20 years. In recent meetings with bankers, where he bids on repossessed vehicles before they go to auction, he has noticed some common characteristics of the defaulted loans. Most of the loans on recently repossessed cars originated during 2020 and 2021, whereas origination dates are normally scattered because people fall on hard times at different times; loan-to-value ratios, or the amount financed relative to the value of the vehicle, are around 140%, versus a more normal 80%; and many of the loans were extended to buyers who had temporary pops in income during the pandemic. Those monthly incomes fell—sometimes by half—as pandemic stimulus programs stopped, and now they look even worse on an inflation-adjusted basis and as the prices of basics in particular are climbing.
It is very alarming to read things like that.
Unfortunately, as bad as things are already, the outlook for the months ahead is even worse. The following comes from Zero Hedge…
Finally, a Chicago Fed survey on the outlook for the US economy decreased to minus 60 in June, the worst reading since the survey began and worse than at the depths of the COVID lockdowns in 2020…
So if a major economic downturn is in our future, what should we be doing?
Well, the following are 5 things that you can do right now to get prepared for the severe recession that is ahead…
#1 Make Sure That You Have A Source Of Income
Last year, if you didn’t have a source of income it wasn’t that big of a deal. Thanks to an unprecedented shortage of workers, the number of job openings surged to a record high. It was so easy to get a job, and so if you felt like taking some time off you could always jump back into the employment pool later.
But now things are changing very quickly. The number of job openings is plunging, and layoff announcements have started to spike.
When the music stops playing, you don’t want to be one of the people without a chair. So unless you have your own business, I would greatly encourage you to make sure that you have secure employment while you still can. If you wait, it will be much more difficult to find a good job later.
#2 Build Up Your Emergency Fund
When a recession hits, it is extremely important that you are able to continue to pay the bills no matter what happens.
When economic conditions deteriorate, bad things happen. Some people lose their jobs and others lose their businesses. If you get hit with some bad luck, you don’t want to be in a position where you could suddenly lose everything.
During 2008 and 2009, many Americans lost their homes because they suddenly could no longer pay their mortgages. Don’t let that happen to you.
Now is the time to build up a very large emergency fund. Cutting your spending will help you to do that. I know that it is not easy to reduce your spending, but later on you will be glad that you did.
#3 Get Out Of Debt
After you have built up your emergency fund, getting out of debt should be a high priority. I would start with eliminating anything that has high interest rates such as credit card debt.
Mortgages, student loans and other debts that have lower interest rates should be lower on the list. Those that are “lean and mean” will have the best chance of getting through this crisis in good condition.
#4 Stock Up On Essentials Now
Prices are going to keep going higher. So that means that the things that you are going to need during the months ahead will not be any cheaper than they are right now.
Don’t spend money on unnecessary items, but for the essentials that you use on a regular basis it is a good idea to stock up right now while you still can.
#5 Maintain A Positive Attitude
This is so important. Have you ever known anyone that was truly successful in life that had a negative attitude about everything? Yes, bad things are going to happen, but we need to believe that we can make it through whatever challenges we are going to face.
Being depressed and defeated because economic conditions have deteriorated will not get you anywhere. But if you approach each day with a positive attitude you will give yourself the best opportunity to make it through the storm. Of course most Americans will have an extremely difficult time staying positive as things get worse and worse.
Already, there is so much anger and frustration out there, and Joe Biden’s approval ratings just keep getting worse and worse. Just check out these absolutely dismal numbers…
Just 18% of Americans say President Biden should run for reelection in 2024, according to the latest Yahoo News/YouGov poll — the lowest number to date. Nearly two-thirds (64%) say he should bow out.
And for the first time, more Democrats now say Biden should pass on a second term (41%) than say he should pursue one (35%).
The survey of 1,672 U.S. adults, which was conducted from July 8 to July 11, represents perhaps the starkest evidence to date of the president’s deteriorating position with voters — including those in his own party.
Things aren’t even that bad yet, and only 18 percent of all Americans want Biden to run again at this point. So what will those numbers look like once this new economic downturn becomes quite severe?
We will soon see things happen in this country that are absolutely unprecedented. But we don’t have to let events overwhelm us.
So I would encourage you to stay positive and to get prepared while there is still time to do so. The clock is ticking, and time is quickly running out.
***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending digital copies as gifts through Amazon to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.
I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to ask Jesus to be your Lord and Savior today.
Article cross-posted from End of the American Dream.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
