Self-sufficiency as a protection mechanism

In reading about recent company closures,  personal bankruptcy and multiple  companies reducing staff numbers, I have been thinking about the role self-sufficiency plays in recession-proofing individuals against the failing economy.

I am well aware of the risks posed to Australia as a society with regards to the looming GFC2.  Hell, when Goldman Sachs are slashing remuneration for senior execs, that's a sure-fire sign that the economic world is going down.

However, I wonder how many have considered the possibility of a perfect storm event.  As witnessed in 2008, the global financial situation has an effect  on the Australian job market, housing affordability and food prices.  Add into the equation climate change, global warming and peak oil and then consider the effects of population growth; what are the ramifications for individuals?  Australians  scraped through the 2008 economic crisis due to the booming resource industry and the fact that China was still manufacturing at full speed when America hit the wall as a result of overextended mortgages.

My take on the 2012 situation is that America is still in the doldrums, Europe is slowly spiralling downwards (Greece avoided defaulting in debt in March by sheer technicality, Italy's debt is on the rise  and Spain is the latest to go down in the government debt crisis).  Furthermore, China has reported plans to reduce manufacturing to meet energy reduction targets and stated a reduced reliance on mineral imports in general.  Add to this that Saudi Arabia has cut oil production (which, to me, screams "we can't increase oil production") and I am seriously worried about the future of the world economy.

I worry that these events are building to a perfect storm where peak oil will hit at the same time as countries increase inflation rates in an attempt to address spiraling debt.  The result, I fear, will be further job losses, loan foreclosures and increased poverty.  Governments that currently offer welfare may well reconsider the amount they provide or the criteria around provision.  This will increase reliance on aid from independent organisations.

The gentleman builder and I have been gearing for such events since 2000 when we wed and honeymooned in the Maldives.  On the plane back, my ever optimistic husband said he was glad we had spent such an exorbitant amount of money on our honeymoon to visit a destination he predicted would not be there in 2100.  Now, his cynicism may be a little depressing but it got me thinking and we started making a plan.

We planned to buy a block large enough to run a farm that would see us self-sufficient in terms of food.  The aim was to buy and build a home without a mortgage to ensure the ownership of the property should the economy fail and we risk losing our security blanket to increased interest rates or loss of a job.

In 2006 we purchased the block 220m above sea level in cool temperate Gippsland assuming that sea level rises and global warming predictions (not taking into account recent calculations that have made vastly less appealing predictions about such things taking into account various tipping points but that's a different story) would see us safe on top of our hill.  (On the up side, we imagine that being closer to the sea will mean that we get to enjoy (pedal-powered) summer retreats to the beach on a more frequent basis than we would otherwise).

We chose a block specifically that faced north, has river frontage and is undulating.  The late Ron Hateley would attest to the value of microclimates in germination and survival of plants and I tend to think that with the less predictable weather cycles that are coming our way, we will need all the help we can get.

I believe that every household should be taking steps towards self sufficiency.  While I cannot see the majority of people will be keen on having sheep instead of lawn mowers; I believe a vegetable garden, rainwater tank, solar panel and a couple of chooks should be staple for every suburban home.  Those in apartments need not miss out - a herb garden or veggies in pots is a good idea.  In fact, companies like the Little Veggie Patch Co. are making millions out of container gardens.  Not only will proponents  get the benefit of eating fresh organic produce and will reduce food miles they will be building skills that will come in handy should things turn pear-shaped.

I have already touted the benefits of seed saving and planting heritage varieties.  I believe that composting and soil conservation is an extension of that principal which will become increasingly important as fertiliser costs continue to rise.

I also think there is a real opportunity to make use of produce that would ordinarily go to waste and maximising the fruit and vegetable growing power of small communities.  Many people that have their own vegetable patch will share excess produce with friends and families and informal food coops and food swaps are being established around the country.  A community group in Western Australia have even run a Crop, Swap and Share where members of the community share excess produce followed by a sausage sizzle.

For those without land to grow vegetables community gardens are increasingly popular.  Furthermore, countries are returning to practices employed during World War II (such as the Dig for Victory campaign in the UK) to .

In addition the slow food movement is gaining momentum and jamming, preserving and stewing fruits is coming back into vogue.

I believe, the uncertainties of the future will lead to stronger community connections and informal arrangements between neighbours, families and friends to ensure adequate, nutritious food supply.