Nicole Foss: Preparing for Economic Depression – GreenFoodie News and Reviews

Last Sunday, 12 February 2012, I was lucky enough to attend a presentation by Canadian finance and energy expert Nicole Foss at Mulloon Creek Natural Farms. The event was sponsored by the Mulloon Institute, Regional Development Australia (Southern Inland), the NSW Catchment Management Authority (Southern Rivers) and Bendigo Bank. Catering was managed by Ginger Catering with the organic produce supplied by Mulloon Creek Natural Farms and was absolutely delicious.

The afternoon started with a very sobering presentation by Nicole Foss as she explained the current global economic situation, and the fast approaching and severe economic depression that will effect all nations including Australia. Click here for an excellent summary of Nicole’s presentation reported in the Canberra Times.

Nicole delivered an excellent presentation, calmly and intelligently analysing the historical and current global financial situation, rationally interpreting the data and presenting it in a way that was accessible to a broad audience. Halfway through I must admit I became pretty depressed by the seeming inevitability of another great depression and the awful ramifications this would have on the people and the country that I love.

However, Nicole did have some advice to help people prepare. Her first and most urgent recommendation was to get rid of any personal debts, particularly those with banking institutions and credit unions, including home loans, personal loans, car loans etc.

She also recommended simplifying as much as possible (downsizing, reduced consumption, getting rid of unnecessary and extraneous objects and activities etc) as well as increasing liquidity (storing enough physical cash to last several months, holding debt-free assets like land and housing, and physical precious metals/stones).

In addition, she recommended ensuring that each household was well supplied with hard goods necessary for survival (arable land or access to land, shelter/housing, spare parts, solar powered/kinetic powered electronics, containers, medicines etc). Nicole added that it was extremely important to decentralise and focus on local and grassroots activity, building community and trust economies etc, particularly with regards to food access and production.

Even if you do not believe in the inevitability of an emerging economic depression or you are turned off by such doomsday scenarios, the advice that Nicole offers is sensible and practical. We should all be ensuring that we live more sustainably and within our means. Of course this is easier said than done as many of us (including me) are addicted to the consumer and debt-based society in which we find ourselves. It will take a massive shift in thinking and in our actions to weather the storm.

After breaking to enjoy the delicious food on offer, we reconvened to listen to a panel discussion based on audience questions. The panel included, Tony Coote, founder and Director of the Mulloon Institute and Steward of Mulloon Creek Natural Farms, Chris Presland representing the NSW Catchment Management Authority (Southern Rivers) and Greenbox Food Co-operative, Colin McLean representing Regional Development Australia (Southern Inland), and 2011 National Farmer of the Year finalist Martin Royds.

The afternoon/evening was an extremely enjoyable and informative one, though the message was sobering with a forecasted future that seems bleak and hopeless, or tumultuous at the very least. I met some very interesting people, ate delicious locally grown and prepared food and learned some useful things.

I’m happy with the direction my life is going and excited by the possibilities that could emerge if the economic the maelstrom does hit. Why not plan for a more simple and enjoyable life, based on community, sustainability and humanitarian values?

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