Originally Posted by KnowledgeQuest
I am confused. If there is an economic collapse, how does saving money help Americans? Wouldn't our money be almost worthless? Wouldn't the banks collapse too? And doesn't that mean that businesses will collapse also?
I get the general gist of the article. And I already believed it was coming. But how would saving, knowing the debt ratio and starting small businesses prepare us?
I want some concrete measures we can take. Besides buying gold and stocking up on food, what else can people do?
I would assume things would take a slower turn. Money won't immediately be useless. YOu'll need much more to buy simple things, though. Think about with the great depression. Money still bought things, but you needed much more to do it.
Having funds saved up will help you get through this period. So, if and when money becomes completely useless (except for like toilet paper lol), you'll be able to eat or what not. So saving is still vital.
However, like you said, you need to do more. That's why you have some food storage, have some medicines stored up, etc. Have water stored up, understand how to get clean water. Learn how to make things from scratch. Learn how to grow your own food (this is soooo key) etc. Also, need to make plans if you can't stay in your location. Do you know exit routes? Do you have supplies stacked elsewhere (shed, another relatives location, another location for only you, etc.?)
Basically you need to learn to be more self sufficient. It's not a new concept, we've just gotten lazy with all the conveniences...but a lot of this our mother's/grandmothers used to do this. I've been getting in on this for the last year or so.