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Another Great Depression is inevitable, and not just because of the short-sighted fools on Wall Street. Our global GDP is directly tied to our use of fossil fuels like oil and natural gas. Although renewable energy continues to improve, it's nowhere near replacing fossil fuels, which is a shame because fossil fuels are getting harder to find and more expensive to extract.
Although conventional oil production peaked years ago, the shale boom has made the U.S. the world's largest producer of oil, keeping our economy relatively strong (at least compared to the rest of the world). But now, the U.S. shale oil boom is coming to an end.
And yet, demand for oil continues to rise. In the coming years, demand will exceed supply so much that the price of oil—and everything else—will skyrocket, sending the world into an economic depression.
This is why some experts are predicting a huge drop in GDP. For example, Nate Hagens, the Director of The Institute for the Study of Energy & Our Future, believes that we'll see a 30% drop in GDP across the board by 2030, which would be on par with the Great Depression.
So it's no longer a matter of if, but when. That's why now is the time to start preparing for the next Great Depression. Start stockpiling these crucial supplies while you still can.
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1. Candles
In a great depression situation, it is highly likely that the power grid will fail, and you have to rely on an old-school power supply. Candles are often seen as a fancy or frivolous item in society today, but they are worth so much in an emergency. Just one simple flame can be enough to light up a room and keep your family safe.
Start stockpiling candles of every shape and size from yard sales, auctions, or discount stores. Jar candles are the easiest to use in an emergency as they don’t require any other equipment. Save wax drippings and ends of tapered candles to make your own DIY candle with the leftovers as well.
2. Cast Iron Cookware
You will need to eat during the next great depression, and the best way to cook food on a durable surface is to use cast iron. These ultra-strong and heavy pieces of cookware rarely warp, bend, break, or have any issues that could deem them unusable.
This is why you can find so many cast iron pieces in antique shops and auctions. Even if the piece looks old and corroded, you can almost always bring cast iron back to life.
Cast iron conducts heat very well and can stand up to literally anything you throw at it. Cast iron doesn’t require any kind of fancy cleaning tools, just some heat and elbow grease is enough to clean off the bits of food and start the next meal.
3. Fabric
Unless you know how to grow cotton and turn it into fabric, this textile will be worth its weight in gold during an economic downturn. Fabric has so many uses in terms of covering our bodies as clothes or used for bedding. You can also use different types of material to create shade, sails, or flags in an emergency.
Choose cotton or organic fabric if you can to help provide your family with natural products instead of plastic-based items. Look through your local fabric store for cheap or discounted bolts of cloth to stockpile away. Store the fabric in a rodent-proof tote or bin, so the precious material doesn’t become one big mouse house.
4. Firewood
Heat is an essential component when it comes to surviving an economic collapse. It is vital to stockpile firewood now while you still can. Properly dried firewood needs time to age to efficiently burn and put out heat.
When you see free dead trees on the side of the road, stop to pick them up and turn them into usable firewood. Cover the wood with a tarp or place it inside a building to help keep it dry and hidden from view.
5. First Aid Supplies
First aid supplies are another item that will be scarce in an emergency. Simple things like bandages, disinfectants, and sutures will be worth their weight in gold during a depression.
Keeping your family safe and healthy is an integral part of survival, and there is nothing that can threaten your life like a medical emergency or accident. Even the most minor cut can lead to an infection that could very well prove deadly.
Stock up on first aid supplies now so that you have plenty to pull from in the future.
6. Food Staples
Storing food for long-term use is a time-honored tradition that proved very worthy during the last great depression. Your pantry and emergency food storage should include a variety of foods that are well-preserved and shelf-stable.
Canning food for long-term storage is a great way to preserve the food and ensure that the food is safe to eat in the future. Metal cans are also great to use since they store and stack quickly.
Rodents, air, and water are the main culprits in ruining long-term food staples in storage. Always check your food staples and choose high-quality containers to store food in to keep rodents from devouring your entire stock.
Oxygen absorbers are great to use in vacuum-sealed bags as well. Keeping your food staples dry from any kind of moisture is also vital.
7. Knowledge
Stockpiling isn’t only for physical items. It is incredibly important to have the knowledge you will need in an emergency. This includes educating yourself and your family on survival topics that may one day save your life. You can read about these topics now and keep them in mind for the future.
While you could stockpile knowledge in the form of books that you have yet to read, these physical resources could be easily stolen, damaged, or completely ruined. It is better to stockpile your knowledge of survival now in your mind during good times so that you can remember it during bad times.
8. Land
Usually, a stockpile includes things that are stacked up on a basement shelf somewhere, but land is that one item that we can’t make more of. If you have the means to do so, purchasing more land around your homestead can instantly create more of a buffer around you and the neighbor down the road.
Purchasing land that isn’t connected to your current land is also a good idea. Investing in land that has different resources from your own can expand your reach if society crumbles. Look for land with a clean water source, timber for building materials, and room to grow food. Other big assets to acquiring land include choosing acres that are known to have wild game and food resources as well.
9. Medicine
Stockpiling medicine is a good idea, but most medications do have an expiration date. It is better to collect your knowledge of medicine and become familiar with the medicinal plants that can serve a purpose later on.
This means that you should stockpile seeds of plants that provide comfort or have healing properties. Our current world often scoffs at medicinal herbs and plants, but they will become extremely important in the future economic collapse. Speaking of seeds…
10. Seeds
There is a reason why the world has a highly guarded seed vault: seeds are key to survival when the SHTF. You can stockpile your own seeds now to plant in the future. You can save seeds from the garden this year and pick up seeds here and there when they are on sale.
It is important to save various seeds to provide the most nutrients to your family in the future. While having ten different kinds of cucumber seeds is great, you may want to diversify your seeds so that you have more to eat in an emergency.
Store seeds in a dry place or consider vacuum-sealing them for an extra layer of protection. While everything on this list is important to stockpile, seeds have an added quality to them that other supplies just can’t provide in terms of nutrition.
11. Water
We all require clean water to survive. Stockpiling water is an important part of ensuring that you survive the next great depression. Hopefully, you will have access to a clean water source in an emergency. However, it is possible that you may have to purify the water yourself if the source is questionable.
Stockpiling water now can help prolong your survival during the next great depression. Water is easy to store in water bottles, jugs, and even large barrels. It doesn’t expire and can be one of the cheaper items to stockpile. It may feel silly to store so much water, but the truth of the matter is that you will appreciate it if (and when) you have to use it in the future.
12. Weapons
No one wants to think about having to fight off intruders, but the fact of the matter is that weapons keep you safe in an emergency. Whether your weapon of choice is knives, guns, batons, or other items, it is important to stock up on them now.
People who become desperate could do things that they never dreamed of doing during good economic times. It is best to be prepared for the worst and hope that you never have to use weapons to keep your family safe.
Weapons can also become quite helpful in terms of providing food for your family in an emergency. Hunting supplies like fish hooks, shotguns, bows, arrows and trap lines will become scarce during the next great depression. Stock up on ammunition, arrowheads, and supplies needed to catch and hunt live game in the future.
Final Thoughts
While there are many things to consider stockpiling before the next great depression, these items will help provide the basic needs of your family if needed. Always check your stockpile regularly to look for any moisture or rodent damage that could easily occur.
Keeping your stockpile in a well-hidden area that isn’t viewable from the main parts of your home is also a good idea. Start gathering these items now before the next Great Depression begins.
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