Hi, this is my first post and I greet you all! I live in Europe, engylish is not my native language, so please bear with my grammar.
In Serbia, during the economic isolation and sanctions in the '90, the economy just went bananas. The inflation rate was huge: people would get their monthly salaries in the morning, and in the afternoon, when they went home, they couldn't even buy a loaf of bread for that money!
Peoples mortgages were paid off in no time, as the loans were with fixed interest rates. In view of that the whole banking system colapsed, and the last thing the government would think of was to help the banks from falling through. They were preoccupied with the health care, housing problems, roads, railroads, power grid, schools, police, firebrigades ect.
Some people bought their own homes for 100$.
All of this lasted for 10 years, some years worse than others, but nevertheless it was pretty hard to survive. Gas was almost impossible to buy, and the black market thrived, making some people very rich in a very short while. People in the cities relied on their own wit, their friends, family, connections ect. with a lot of help from the family in the rural areas, or because they had a small garden lot, outside the cities.
Maybe we should learn from people that have been through those circumstances, people that have been in wars, or had their countries occupied, or simply poor people, who don't have more in stock than necessary for the present day.
How are people in Iran living now? How did they survive through 16 years of sanctions and war? Their daily living is what we are trying to prepare us self for. Lot's of lessons to be learned there, I'm sure.
Peace!