What if the USA does default on its debt next year?

Deal Score0

This is what I think people should try to prepare for…please tell me your suggestions

I would recommend you prepare for black out and food shortages. Dont keep much money in the banks. Preferably keep things of actual value like gold, silver, copper or just trinquets that you can barter with. Learn how to make your own energy. Building a windmill is the simplest thing, and the best way to get free and perpetual energy. It is a valued skill you would need should the energy grid collapse. Get a small grab and go bag or back pack and fill it with emergency essentials like; ID and passport, a first aid kit with everything you may need in case there are no doctors. Learn CPR. Throw a pocket size survival manual that can teach you all you need in the bag. Get something you can build a tent with or just stop the rain. A small cooker to warm and cook your food with. Keep sling shots, compass, lighters and swiss army knives…. Maybe even a gun on the DL. Keep a small 5lb bag of rice. Every now and then throw a can of tuna, spam,salmon, mix friuts, beans, corn, beef jerkey. If you live in a city, coordinate your clan…. Figure out emergency exits out of your city. Figure out where to meet or where to head in case an exodus out of the city is needed. If you manage to keep anything electronic, make sure it is solar re chargable and that you have a solar charger. Potassium iodine pills, and an emergency solar radio. All these things are cheap to get, easy to store and easy to get. Basically plan ahead with your friends and loved ones. Not everyone can make it out in a time of emergency, and that is something that has to be understood and planned for. The above is my recommendation for another possible major world economic collapse. The US is close to defaulting on its debts. There is an 80% chance it is going to happen in the next year or two

8 Comments
  1. Reply
    The Cruise Guy
    November 10, 2011 at 12:50 am

    Or, you could just move to a more stable country.

  2. Reply
    Growth vs Oil
    November 10, 2011 at 1:35 am

    Most people don`t know that under the Republican written Patriot Act banks don`t have to open in a collapse so you can get money for food.

  3. Reply
    Anthym of our dying country
    November 10, 2011 at 2:00 am

    Very good advice many people are going to be caught unprepared. A few other things u didn’t mention. Buy non hybrid seeds for perpetual food supply in harvest time, stock up on water jugs, I would definitly buy a gun or two. Also learn a skill that people will always need like carpenter, medical, mechanic, etc.

  4. Reply
    gosam777
    November 10, 2011 at 2:35 am

    I wouldn’t put it at 80%. But will we be getting an indication in early July when the Fed ends QE2. It will depend on how the economy handles the tons of liquidity left in the money supply. There is a real danger it could trigger an inflationary nightmare that would force Treasury to increase interest on the securities

    Even a slight increase on a $ 9 trillion public debt (1/3 of the debt is from intragovernmental holdings like the SS/Medicare trust fund, the government borrows from itself) would be unmanageable and could collapse the Dollar if the securities get dumped on the open market http://www.treasurydirect.gov/NP/BPDLogin?application=np
    http://www.davemanuel.com/investor-dictionary/intragovernmental-holdings/

  5. Reply
    nostradamus02012
    November 10, 2011 at 3:23 am

    world wide economic depression.

    also, all of the nations that loan us money would call in all of that money while at the same time refuse to buy any more american debt.

  6. Reply
    roderick_young
    November 10, 2011 at 4:05 am

    Many of these steps are good practice, anyway. It’s what a person would do in preparation for a Hurricane, Earthquake, Flood, Tornado, or other natural disaster.

    I’m not afraid of a worldwide collapse, though. And I also disagree with placing my trust in guns. There is a story, Tunnel in the Sky, where people are to go into the wilderness on an unknown planet as a test. There are no rules. An experienced survivalist suggests taking *no* gun, as it will remove the false sense of security and force a person to work with others. The guy that goes in with major firepower is killed relatively early on.

  7. Reply
    Roddy
    November 10, 2011 at 4:18 am

    A five pound bag of rice isn’t going to do much for you. I would strongly suggest a full 30-60 day supply of food at all times. That much water as well. We live in tornado land and have had to do without more than once.

    There’s not much use in leaving the city if you have no where to go. Lots of people watch those survivor shows and think they can do it too. It’s a whole different story when you really have to do it. Even in the middle of the summer it gets plenty cold at night out in the woods. I’ve spent lots of time there and know this from experience. If the ticks and chiggers don’t drive you mad the skeeters will.

    A good food supply is just common sense. Even if everything gets better it’s always a great hedge against inflated food prices.

  8. Reply
    nicoatridge
    November 10, 2011 at 5:15 am

    The chances are remote. The US can afford to service it’s debt pretty easily and the dollar is still a popular place to invest. The risk is nowhere like 80%, not even anywhere like 8% or even .8%. Why? – because there are so many other options that the US can employ. It currently spends more on the military than the whole of the rest of the world put together – it could halve that and still be the most powerful military country in the world. Over a half of healthcare costs go on administration and unnecessary treatments – get a bipartisan approach towards universal healthcare whilst retaining choice and you would save billions. Tax rates are much lower than the rest of the world – if Germany can out-export the USA and retain a higher quality of life on double the tax take, there must be some opportunity to raise more tax dollars (unpopular though it might be). The amount of pork added to legislation demonstrates that the USA doesn’t even really have to worry about default, it tolerates waste on a massive scale. America is basically in good shape, with a flexible workforce, good demographics and a good business environment. Just badly governed at every level. California is a disgrace.

    Nations at risk of default, such as Greece, probably won’t. Their debts will be restructured because that is the sensible way forward. America might do the same, and have to swallow national pride and go cap in hand to the Chinese. better than living in a cellar on beef jerkey for the rest of your natural though.

    Leave a reply

    Register New Account
    Reset Password