Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It
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Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It

Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It

By Michael Snyder, on August 18th, 2013

 

RegretThe next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it.  Even though the warning signs are glaringly obvious, most Americans continue to believe that our “leaders” know what they are doing and that everything will be just fine.  But what will happen when the next great financial crash happens and trillions of dollars of “paper wealth” disappear into thin air?  What will happen when the coming credit crunch causes economic activity to dramatically slow down and millions upon millions of people lose their jobs?  This shouldn’t sound far-fetched to you.

Remember, this is exactly the kind of thing that we saw back in 2008, and the next great financial crisis is likely going to be significantly worse.

Our economy is in far worse shape than it was back in 2008, and government dependence is now at an all-time high even though most Americans are still enjoying debt-fueled false prosperity.  We are living in the largest debt bubble in the history of the planet, and when it bursts we are going to experience a crippling “adjustment” to our standard of loving.  Some people understand this and are busy preparing for what is ahead.  It has been estimated that there are approximately 3 million “preppers” in the United States, and that number is growing all the time.  Unfortunately, most Americans are not preparing for the coming economic depression and they are going to bitterly regret it.

So what does preparing for the coming economic depression look like?

Well, it doesn’t have to be complicated.  Most of the things that you should do are just common sense.

But there are some people that take things to extremes.  For example, a new National Geographic series is featuring a family that is actually constructing a “Doomsday Castle“.  The former U.S. Army officer that is building this unusual home is trying to prepare for virtually every type of disaster that he can imagine

Meet Brent Sr., the leader of the six-person family. Brent is a former Army Infantry Training Officer who is heading up the project to build an “EMP (electromagnetic pulse)-proof medieval castle in the woods of the Carolinas.”

According to National Geographic, Brent is teaching five of his 10 children survival skills.

The unfinished, fortified castle that Brent Sr. is building — an idea he got during the Y2K prep craze — will be able to sustain an EMP-event that could wipe out a power grid, but will also survive natural disasters like hurricanes.

He even plans to train his family members to use crossbows and a catapult to defend against potential home invaders.

Not many people out there are going to take “prepping” to such extremes.

But even if you don’t plan to build a “Doomsday Castle”, that doesn’t mean that you should be doing nothing.

Sadly, most Americans are quite ill-prepared for a major economic downturn at this point.  In fact, most Americans seem to be doing almost nothing to prepare.

Just consider the following statistics.  Most of these numbers come from one of my previous articles

-According to a survey that was recently released, 76 percent of all Americans are living paycheck to paycheck.

46 percent of all Americans have less than $800 in savings.

27 percent of all Americans do not have even a single penny saved up.

-Less than one out of every four Americans has enough money stored away to cover six months of expenses.

-Each year, 12 million Americans take out high interest payday loans.

-In 1989, the debt to income ratio of the average American family was about 58 percent.  Today it is up to 154 percent.

-It is estimated that less than 10 percent of the U.S. population owns any gold or silver for investment purposes.

44 percent of all Americans do not have first-aid kits in their homes.

48 percent of all Americans do not have any emergency supplies stored up.

53 percent of all Americans do not have a 3 day supply of nonperishable food and water in their homes.

via Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It.

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