We all seem to agree that consumer prices are going to continue to rise for the foreseeable future.
So what are you doing about it?
Methinks stocking up on nonperishable goods would be a good idea.
As I’ve posted on these boards before, store bought canned goods (NOT that stuff you’ve got preserved from last year’s garden crop.) will last over 15 years stored in a cool dry closet (or wherever).
Y’all know drastic price increases are coming so why not buy stuff you’ll need before the prices go up?
At our house we’ve started buying two or more of anything nonperishable.
At our house we’ve started buying two or more of anything nonperishable.
We are actually working on depleting our stored everything as we prepare to move at some point. That said, we already have two refrigerator/freezers and a 7 cu ft chest freezer full from good sales that happened previously, as well as a walk in pantry with non-perishables. And if the frozen foods don’t give us enough, there is always those price stable $4.99 rotisserie chickens at Costco. Those good sales of the past now mark down elevated prices to what used to be the norm, so no more stocking up.
Y’all know drastic price increases are coming so why not buy stuff you’ll need before the prices go up?
But you are paying for these goods with more valuable dollars. In the future, you would be paying with dollars that are worth much less. So are you really saving by buying goods at lower prices now, with more valuable dollars? If you buy a $1 item now, with $1, are you better off than if you pay $2 for the item in the future with dollars that are only worth an inflation adjusted 50 cents?
Storage space is a serious issue for those of us without basement space and already overloaded garages with ages of stuff we are, or were interested in at some point… 1500 sf has limits!
Storage space is a serious issue for those of us without basement space and already overloaded garages with ages of stuff we are, or were interested in at some point…
Solution: garage sales and yard sales.
(After two or three weekend garage/yard sales whatever’s left should go in the trash 'cause you don’t want it and nobody else does either.)
Having lived through Venezuela’s hyperinflation and scarcity I stocked up on scarce items* when available but not on other stuff. For me Venezuela got cheaper by the day because my personal economy was not tied to Venezuela but to the US$. Until 1984 my economy was tied to Venezuela but the year of the Black Friday changed it. With the initial massive devaluation, price and exchange controls it became increasingly difficult to do business. The Apple distributor could/would bo longer import stuff. For a while my business depended on the gray market and specialized curriers (smugglers). My best customer who I though of as a friend double crossed me. We started selling refurbished computers. We planned a transition from hardware to software which eventually resulted in a Silicon Valley office. The stress grew by the day until I would up in the emergency room with a heart condition. When my partners came to visit I told them, “These SOBs are not going to kill me” referring, of course, to the government. That was the start of my transition to the US$ as my primary currency. This served me well two decades later when galloping inflation turned into galloping hyperinflation. It serves me well today because I’m no longer tied to any geography.
If you can get your portfolio to support you independent of any third party, public or private, you can live a relaxed life.
The Captain
Toilet paper seems to be a favorite shortage world wide. Never ran out of the stuff! Amazon, couriers, and US credit cards were a great help in defeating scarcity.
Methinks stocking up on nonperishable goods would be a good idea.
At the same time, if you think there is going to be a recession then it would be worthwhile to delay purchases of big-ticket items. Items such as washing machines and automobiles should be more available.
