Family prepared? Big economic storm coming?

I have a recommendation for every household this weekend: stockpile food and other household goods–perhaps 3 months worth.  The financial house of cards on Wall Street is ready to collapse.  It might happen next week, it might happen next month, it might happen next year, but our nation’s financial foundations are not on good footing.

In a prior post, I urged the Federal government to not bail out Fannie Mae and Freddie Mac.  It looks like the fix is in and they will be bailed out.  Lehman Brothers is apparently pleading for federal guarantees so that someone will acquire it.  A decision is expected by Sunday.  Other financial institutions are at risk, as are other industries.  Whether the Federal government bails everybody out or not, there is a risk that our currency could take a big hit, and if that happens, expect an inflation spike.  If inflation spikes, expect that the stuff on store shelves will be really expensive.  If you can manage it, I think it’s good to keep a stockpile on hand to keep your family afloat no matter what happens to the financial markets.

With a short-term inflation spike, some prices won’t be able to move much, such as rent (already stipulated in a lease agreement), mortgage (a contract already agreed to when you purchased your home), and utilities (utility companies would have to get the state of Ohio to agree to a tax hike before they could raise their rates).  Prices of anything not already locked in, though, could skyrocket.

Of course, we are already experiencing financial distress in Ohio, but, believe it or not, it really can get worse.  Among those who think it could get worse is Governor Ted Strickland, who is trimming the state budget to anticipate impending shortfalls rather than tap the state’s “rainy day” fund. (Hat tip to Lisa Renee at Glass City Jungle.)

On the lighter side, maybe another step one can take to prepare one’s family for a nationwide financial collapse is to obtain fishing licenses and hunting licenses, so if food temporarily becomes too expensive, we can gather it ourselves, just like Sarah Palin’s family fishes and hunts for food.  It’s too late to plant a vegetable garden now, but you might want to plan on planting one next year.

Speaking of hunting, the deer population in Ohio is many, many, many times larger today than it ever was at the time the state was first settled.  According to early accounts of Ohio at the time of settlement, Ohio was wall-to-wall carpeted in trees with very few clearings.  The forest canopy shut out sunlight necessary for thick forest undergrowth, so deer didn’t have a lot to feast on in Ohio.  The Native American populations were also small in Ohio, as hunting was not as successful here as elsewhere because of the relative lack of game.  Often, the Miami nation, that inhabited SW Ohio, would make major hunting treks into Indiana and Kentucky, where game was much more plentiful.  These days, there’s lots for deer to forage upon in Ohio, and the large size of the deer population reflects that fact.

In any event, I encourage families to have a meeting to launch an action plan to be prepared in case of severe economic shocks.

8 Responses to “Family prepared? Big economic storm coming?”

  1. Wall Street woes « Buckeye RINO Says:

    […] Family prepared? Big economic storm coming? […]

  2. “Blog Bunker” retrospect « Buckeye RINO Says:

    […] I also admonished that families need to prepare themselves for future economic shocks, mentioning a prior blog article that encouraged families to stockpile household goods to better weather the bigger economic storm that may be headed our […]

  3. A new “Ellis Island” could help « Buckeye RINO Says:

    […] even-numbered year, which is why they are being more deliberative than the House.  I know that without the bailout, the nation would endure severe economic shocks, but I think the American people are rooted in their views of justice and facing the music.  Our […]

  4. Step away from the madness « Buckeye RINO Says:

    […] even if we do have a bailout, so I don’t see the point of a bailout.  I have already urged families to prepare for the downturn that is coming while your cash still has purchasing […]

  5. Nevada’s tempest in a teapot–Obama’s right about a few things « Buckeye RINO Says:

    […] and that fact seems lost on Obama, but the rest of what he said is perfectly sensible.  I said in September of 2008 that families should prepare as best they can for the worsening economy.  The events of September 2008 are different than the […]

  6. . . . And the walls come tumbling down! « Buckeye RINO Says:

    […] your family prepared to survive through an economic collapse? I saw a big storm coming back in September 2008, and I think it’s here. Maybe it can be staved off until 2012. I definitely think we cannot […]

  7. . . . And the walls come tumbling down! - Hip Hop Republican Says:

    […] your family prepared to survive through an economic collapse? I saw a big storm coming back in September 2008, and I think it’s here. Maybe it can be staved off until 2012. I definitely think we cannot get […]

  8. Japanese store shelves tell the tale: The time to hoarde is long before the calamity strikes « Buckeye RINO Says:

    […] hopping back up on my soapbox again.  I’ve been blogging about preparing your family for catastrophes since 2008.  I’ve racked my brain to pinpoint of a number of ways in which your family can prepare, and […]

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