Okay, I am not much of a conspiracy theorist, but my facebook shut down just as I was about to post about the potential financial after-effects of the pandemic based on what happened in 1919.
Since I was unable to copy or save what I had written, this will be slightly different from what I originally wrote, but perhaps that is a good thing…
After the Spanish flu (which, by the way, did not originate in Spain) of 1918 ended, there were some major financial shifts throughout the world.
And, perhaps it is because the types of people who write the articles and theses on this subject are pre-disposed to a certain way of thinking, but they tend to agree that the after-effects of the 1918 pandemic were a revolt against capitalism and an increase in governmental control of healthcare and workers rights, as well as an increase in socialist, and later communist governments.
They gave the Spanish flu credit for the rise of Hitler and communism in China, followed soon thereafter by communist governments in Easter Europe, Cuba, and other parts of the world.
Now, that does not mean that history is destined to repeat itself, but there are a few things you can do to prepare just in case there is wide-spread financial disruption after COVID-19 (if nothing else, this can be a fun mental challenge):
1. diversify your portfolio to include precious metals, cryptocurrency, and fairly stable investments
2. keep more cash at home- in a safe place
3. increase savings to cover expenses should you be unable to work
4. create additional revenue streams
5. update your passport (not really financial, but still recommended)
6. stock up on essentials (do not hoard, but be prepared in case store shelves find themselves empty again)
7. learn to recognize the signs of financial shifts, such as when the economy is going into or out of a recession or depression, so you can make decisions from a place of calm, not crazy
Do you have anything you would add to this list?