Are you worried about an imminent economic meltdown - preppers

(69 Posts)
Ladymaverick Thu 11-Feb-16 21:37:53

FTSE crashing. Talk of HSBC going to the wall. NASDAQ under 4000. DBank in big trouble. Gold soaring which is really worrying me, although we do have some in coins we don't have a huge amount.

I've taken quite a bit of cash out today to keep at home. Luckily we have a very secure safe so i'm not really worried about having it at home.

Anybody else keeping an eye on this?

cozietoesie Sat 13-Feb-16 09:59:47

As ever. The big SHTF events over which we have no control - eg Yellowstone, Cascadia etc etc etc - would also lead to economic collapse though (in my view) so I tend to make general rather than specific preparations.

campocaro Sat 13-Feb-16 11:35:49

Interesting topic. I would be more worried about the NHS crashing. For me feeling 'in control' also comes from participating in the democratic system. My frustration about world economic meltdown is that people don't think about this when they vote conservative , or not vote at all.

cozietoesie Sun 14-Feb-16 09:15:15

It's a difficult balance right enough. You're never going to be completely in control - after all, Cascadia could go in 10 minutes time whatever you do or have done - but it would, in my view, be reprehensible just to sit and indulge yourself without thought for anything or anybody else.

I guess you do what you can. It may not be enough to make a significant difference but if so, so be it.

cozietoesie Sun 14-Feb-16 09:21:13

PS - sorry to anyone reading who lives over the Cascadia zone. I was just using it as an example - I didn't mean to be pointed.

chilledwarmth Thu 18-Feb-16 07:25:55

I've been perpetually worried about the financial system for years now. It just seems unsustainable to have so much debt. I always keep a few hundred dollars at home because I honestly think situations like what we saw in Greece could happen at home. You might wake up one day to discover the bank has taken some of your money to bail itself out, and won't let you withdraw anything but a tiny amount per day that is not enough for you. Or if something unrelated to the financial system happens, but affects the financial system too. Like a massive blackout, no electricity, no cash machines. Do you have enough money on your person or at home to out last something like that? I know I do.

winchester1 Thu 18-Feb-16 07:32:56

At the moment we don't have much cash in the house which is unusual for.is tbh. We have plenty of food and water and own heating though so im doubtful it would matter in the short term.

What can you do really to prep for international or.national economic crisis really?
My money is spread around diff banks, investments and countries (I don't have as much as that makes it sound), and I'm well below the guaranteed thresholds. But if it goes wrong I'll be far happier I've a well and farming equipment (all be it very old) than any other financial plans.

ThroughThickAndThin01 Thu 18-Feb-16 07:38:35

We have prepared as much as we can in that we have paid down a lot of debt since the credit crunch. Unmanageable debt will be horrific in a financial crash.

VertigoNun Thu 18-Feb-16 07:47:50

It's a wonder there hasn't been a crash.

I wonder if rationing would come in again to ensure the nation was given basics and could continue to work.

I was just thinking I don't have any emergency stock so must order a big shop. Regardless of a financial crash it's handy for bad weather or illness.

ThroughThickAndThin01 Thu 18-Feb-16 07:57:31

I'm still trying to work out when (and not if) it will happen. I'd love a crystal ball. Although I think all the black gloomy clouds are gathering for the perfect storm for an economic crash, I'm not sure we're there yet.

VertigoNun Thu 18-Feb-16 08:02:18

We have the EU vote and depending on the results we may have another general election again in September. Who knows what that will do to the banks.

What do you do with gold coins? The local shop won't accept them for a pint of milk.

ThroughThickAndThin01 Thu 18-Feb-16 08:09:14

Why would we have a general election? Cameron has pledged to hold an eubvote which he will do, therefore Conservative manifesto promise upheld. I can't see a general election whatever the outcome.

lighteningirl Thu 18-Feb-16 08:18:38

Very interesting topic and one we include in our prepping not wanting to sidetrack it with local politics but I lived through twenty years of appalling Labour mismanagement in the UK and can't believe anyone would vote for them ever again campocaro.
We have just cleared all our debt bar one very small mortgage we now run in credit financially my dh preps mainly for financial crash for me I really worry about virus/antibiotics general health meltdown. The WHO is totally untrustworthy and population pressures around the world are causing such grief to so many I really worry that one horrific strain of for example flu will cause a subsequent financial crash and the whole thing snowballs.

VertigoNun Thu 18-Feb-16 09:00:20

If Cameron doesn't bring a good deal from Europe the public won't be happy, his party is chomping at the bit to split.

If you do yougov surveys it's quite clear the government are sounding out people for a potential GE.

ThroughThickAndThin01 Thu 18-Feb-16 09:04:24

About half (isn't that what polling is showing?) the public want to split from Europe regardless therefore whatever Cameron negotiates now is irrelevant to them. Ergo GE is irrelevant,

VertigoNun Thu 18-Feb-16 09:07:40

They asked about a week ago, who would you vote for in a GE, it was a very detailed and very long survey, unlike any other.

ThroughThickAndThin01 Thu 18-Feb-16 09:10:08

Ok. I can't see why though. Not sure Cameron himself would vote to stay in if he doesn't get them to agree to his demands.

VertigoNun Thu 18-Feb-16 09:13:34

Cameron said he won't fight another GE. I gather a change of leader without going to GE by labour did from Blair to Brown, was something the Tory party said was not on.

cozietoesie Thu 18-Feb-16 09:42:41

So what are you actually doing about prepping? smile

ThroughThickAndThin01 Thu 18-Feb-16 09:54:08

Paying down debts; stockpiling (as usual); keeping extra cash at home. What else can be done?

redhat Thu 18-Feb-16 10:03:03

We have no cash at home atm which is unlike us and so that needs sorting out. As someone who had 300k in icelandic banks (house equity) when they went I am always keeping an eye on things. I took it out just before the bank went under and it was floating about in banking no mans land for a couple of days which was a bit hairy.

There won't be a general election why on earth would anyone think there would be? And in any event what difference would that make to prepping?

VertigoNun Thu 18-Feb-16 10:12:02

Leaving the EU and another GE would affect business such as banking, the topic of this thread.

ThroughThickAndThin01 Thu 18-Feb-16 10:21:24

I don't think. GE will be called regardless of whether we stay or leave.

I think the subject is relevant on this thread because it's about an economic meltdown - thread title. IMO there are many issues bubbling away which will lead to an economic meltdown - thread title - and there will be one issue which is the straw breaking the camels back. Some people think a UK GE might be that tipping point. Which is why I'm enjoying my discussion with Vertigo. I'd like to know if it's likely there is an early GE called. A fairly cataclystic event let alone on top of other things. Confidence will plummet.

That ok with you now redhat? confused

cozietoesie Thu 18-Feb-16 10:26:45

I'm not sure what having cash around the place would really do in other than a quick emergency though, red ? (The Icelandic banks are a whole different ball game. )

As someone said - approximately - on this board, what are you going to do with notes/gold pieces when you have a SHTF situation? Actual stuff is arguably a better proposition.

ThroughThickAndThin01 Thu 18-Feb-16 10:30:00

I have cash in the event of banks not opening, and cash machines not issuing money. I think that could last for weeks on worse case scenario.

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