West River Eagle

Get ready for Depression-like times: What’s going on and what can we do?



Greetings, everyone. Thanks again for your continued following.

Sorry for my brief time away. As some of you may know, after another series of strokes my time writing and talking was just not possible. While my brain is working just fine, getting ideas and thoughts on paper was just not possible.

As you may remember, I have a diagnosis where these events come and go without warning, some worse than others. Life as I know it changed forever about a year ago, but I continue to fight and refuse to just give in. Please keep my family in your thoughts and prayers as this has not been easy.

That said, we may soon be headed into unprecedented times as the economy and the worldwide financial and energy sovereignty systems continue to change. 

We are seeing global change in ways I do not think anyone could have predicted. As a country, our national and tribal governments are facing financial struggles. What is happening in other countries could soon happen here.

Recently, the Chinese government-backed banks have begun calling in loans to other nations, starting with the poorest first.  (“‘In a lot of the world, the clock has hit midnight’: China is calling in loans to dozens of countries from Pakistan to Kenya” by Bernard Condon and the Associated Press. Fortune Magazine, May 18, 2023. fortune.com/2023/05/18/china-belt-road-loans-pakistan-sri-lanka-africa-collapse-economic-instability/.)

We also must consider that, while the United States owes money to China, China owes money to U.S. banks money as well, $859 billion to date. China also owes us from before it became a manufacturing powerhouse. So, while financial danger is real, it is unlikely. We should be diligent just the same and prepare for the worst.

So, what kind of scenario could play out in our country? While I doubt things will get bad anytime soon, such as entire markets or industry collapsing overnight, there could be a devastating blow. But we are a nation of survivors and resilience. The first thing we should do is prepare for the worst and hope for the best. Here are some ideas just in case.

Some ideas to conserve financial and physical resources

– Save or repurpose old farm lumber

– Insulate attic spaces and crawl spaces. Try to reduce heating cost by as much as $600 a year.

– Install electronically-controlled/Bluetooth-controlled thermostats

– Switch to all LED lighting

– Install low flow shower heads

– Install smart technology outlets

– Take advantage of solar programs for water and home heating

– Seal and insulate heating and cooling ducts

– Weatherstrip and caulk doors and windows

– Replace older appliances one at a time with Energy Star units

– Water gardens but not lawns

How else to make a difference?

Contact your state and federal lawmakers regarding reform to the debt ceiling. While most Americans agree the ceiling should be raised, a longer-term solution is needed. The debt ceiling has been raised 78 times since the 1960s.

It is time for all of us to hold the government accountable for its debt. We must also be responsible citizens and realize that we will, most likely, not be able to lower our national debt without everyone paying a part. Thus, the days of tax returns, one of our nation’s biggest expenses, needs to end. We all use services, so we are all responsible for paying our part.

We also need to make sure our lawmakers guarantee that the FDIC is a solid and deposit insurance is available for every American. We not only need to raise the $250,000 deposit limit, but make sure this program can never fail and prevent bank runs that caused the Great Depression.

Leave a Reply

Your email address will not be published. Required fields are marked *