By the time auditors and lawyers got access to Bullion Direct’s 14th-floor offices six weeks ago, there were only a handful of gold and silver coins in an office safe. A second vault it had recently rented held only slightly more.
An estimated $30 million in cash, metal bullion and valuable coins, meanwhile, had vanished.
Aside from networking with people in your community (the best form of prepping) or faith or the importance of a strong family… The other “best prep” you can have is a recession/depression-proof small business that you start and grow before you need it. Why before you need it? Because all small businesses have a learning curve. Sometimes that learning curve can take a year or two… under the best circumstances. And you don’t want to be fighting hunger pangs while you’re going through that learning curve. Sometimes even the best business minds fail at what they do. They just don’t hit it out of the park, every time, let alone mere mortals like you and me. So– it’s better to make mistakes and go through the learning curve while the economy is still chugging along, than it is to wait until things fall apart.
The Best Type Of Small Business For a Recession/Depression Economy
I’m still undecided if there really is a, ‘best’ type of small business for a depression economy. Rawles talks about businesses that fall into the “three ‘d’s'”: Dirty, dangerous or difficult.
I’m not so sure. In a kick-ass depression, there will be a lot of people willing to do dirty, dangerous or difficult work.
I’m not entirely convinced that becoming the world’s greatest salesman wouldn’t be better than pumping sewage. Check out this guy, for example:
I’d imagine that this guy would do pretty well in almost any economic environment.
I found this article– but it was published in November of 2013. It would be interesting to find out how it’s done, since:
Zombie aficionados debate whether the living dead should be fast- or slow-moving. But there’s no denying that the Zombie Apocalypse Stock Portfolio — companies that should do well in a zombie outbreak — has been lightning-fast. The zombie portfolio of seven stocks — SolarCity (SCTY), Generac (GNRC), Sturm Ruger (RGR), Smith & Wesson (SWHC), Cabela’s (CAB), GNC (GNC) and Pall …
Here’s a pretty good article I stumbled upon by Gary North on budgeting for a lifestyle contraction. Yes, it’s the same Gary North who was one of the main proponents behind the Y2K alert/scare. He has his own membership site that I belonged to a few years ago. It had some interesting ideas in it. He is a good writer and he is fantastic at writing headlines that make you want to read his articles. The discussion forum was a weak point: After you’ve read through most of his articles, you’ll want to visit his discussion forum. The problem is: He rarely posts to the discussion forum, and when he does it’s usually just to link to one of his previously written articles. Or else he gives a one-line answer.
Some of his ideas are goofy. Many are infused with Old Time Religion.
I remember one of his recession proof business ideas was to start a day care center/private school for children.
Uh, yeah… right. No gracias. I don’t think I could come up with a more liability-prone business model if I tried. (Maybe coal mining?)
He does, however, have some very good ideas about living beneath your means, keeping things in perspective and having the good life without competing with your neighbors.
He writes frequently for LewRockwell.com, an online libertarian hub as well as for a couple of his own sites and one of Ron Paul’s sites, too.
I just left this question on Jack Spirko’s Survival Podcast voice mail. Hopefully it makes it onto the show, soon, as it’s a subject I’ve been researching for the past couple of years and Jack usually has some really interesting ideas about this kind of stuff:
What small business would you start now that would continue to provide a good quality of life in the event we experience a Great Depression 2.0?
I know that you believe we will probably experience a boom before another bust… so if we have another 5 to 10 years to prepare, what are some good ideas for Depression-resistant small businesses that an internet geek like me (with no mechanical skills or handyman abilities) could start… that would get me through to the other side of the next Great Depression?
If you do a search on Google on this subject, you typically come up with a lot of conjecture and speculation– stuff that didn’t even hold up very well when the economy fell apart in 2008.
So, I’m really looking for some real-world ideas, and I know you’re the guy to go to about that.
I saw this article on Yahoo! Finance yesterday about a family of four who live on just $14,000 per year — in Henderson, Nevada, my old stomping grounds.
They’re doing a lot right, in my opinion: Namely, staying out of debt, living beneath their means, creating a budget and making other smart financial decisions. Their lifestyle would be looked upon as fairly normal prior to the 1950’s and before the wide spread use of the credit card. Those of you in the homesteader movement will recognize much of what she’s doing.