I'm investing in 34 dozen eggs.

"I don't want to alarm people, but I'm going to advocate that you consider doing something you only do in a panic."

Anyone else see the slight incongruity here?

Do these media types realize that if they repeat enough of the far-fetched doomsday talk, some of it might stick and become self-fulfilling prophecy?

It only takes a few people running in to hoard things before it turns into a full-fledged run on the store.

Idjit.
 
How much food can the average household stockpile? Perhaps one month's supply. The modest difference over and above the amount normally kept on hand (say, one or two weeks supply) might allow a family to save one or two hundred dollars, assuming inflation really takes off soon. That potential saving is certainly not worth contributing to the risk of panic. :crazy:

I would write more, but I have to go stock up on gasoline, candles, tinned goods and ammunition. The end is nigh! :p
 
Well, given that I have 100+ pounds of grain in my basement at any given time, I should be sitting pretty.

FWIW, after years of basically flat prices, I was shocked at how much more expensive my most recent order of malt for brewing was. Up at least 40% over what I have been used to paying, although that is probably due as much to energy/natural gas prices as the grain content.
 
Don't count your chickens... or were you just having omelets.
 
From the OP's linked article:

"The main reason for rising prices, of course, is the surge in demand from China and India. Hundreds of millions of people are joining the middle class each year, and that means they want to eat more and better food.
A secondary reason has been the growing demand for ethanol as a fuel additive. That's soaking up some of the corn supply."

While these are real issues, I think he missed the elephant in the corner. Fuel prices have gone up a lot in the past couple of years, and the farms that our commodity foodstuffs are produced on run on petroleum. So, yeah, lots of people in China and India have something to do with it, but worldwide gasoline and diesel prices have more to do with it.

And as far as stocking up -- I fail to see how being prepared is "panicking." And loading up at Costco or your local Safeway isn't going to cause a run on the store or a local panic (if that were the case, the masses would be storming our Costco every Friday, because there might be a critical beer shortage after the college kids get done "stocking up" for the weekened).

Think of it as a commodity emergency cushion. Having a couple of weeks' or months' worth of food stored in your basement or hall closet or garage means that you can afford to ride out REAL food panics.

Surpluses and stored goods strengthen the social fabric because they allow for some "give" when times are tight. This is as true for food and water and beer as it is for money. (Hey, we homebrew, too!)
 
I could trade you for some fine aged 5-gallon containers of water, December 1999 vintage....
 
My local Costco sold out of their 90 bags of 50lb rice in 3 minutes this morning. I think to many people watched the 10 o'clock news last night.
 
Ronnieboy said:
My local Costco sold out of their 90 bags of 50lb rice in 3 minutes this morning. I think to many people watched the 10 o'clock news last night.
Click to expand...

To think I cant stand the majority of rice. Now gimme then 50lb bags of beans boyhowdy I can go through them like nuthen.
 
Maybe this is a business opportunity...buy up all of the rice and sell it out of your car in the Costco parking lot
 
Isn't the Mormans supposed to have at least 6 months of food in the pantry:confused:

I have seen many runs here... when a hurricane is approaching... you would not believe how quickly the shelfs of almost everything gets empty....

And then you are surprised how quickly they are full a day after the crisis...
 
Milton said:
How much food can the average household stockpile? Perhaps one month's supply. ... :p
Click to expand...

Well, out here in LDS Country...a one year supply is "required". Houses have a food storage room designed for just this purpose. The concept is that "when it happens" the Mormons will survive and take over the world...or words to that effect. Additionally, guns are also a way of life here and it is reported that there are three of them for every man woman and child in the state.

Many of the stores here cater to the food storage "requirement" and yu can buy special racks for your canned goods as well as jumbo cans of many food items, 50 pound bags of sugar and flour, 55 gallon drums for water, etc.

BTW, I have beer, wine and about 20 fifths of various adult beverages to help me survive "when it happens". :cool: Not hoarding...just prepared.
 
Nanita8140 said:
I was at my super market today(Publix) and there was very little rice left. I guess people really are going into panic mode.
Click to expand...
Oh, GREAT. I am out of Success boil-in-the-bag short grain brown rice and have been for a while, and now I supposed it will be a pain in the rear to find any. I must be getting old because this makes me feel GRUMPY. :rant:
 
SteveR said:
BTW, I have beer, wine and about 20 fifths of various adult beverages to help me survive "when it happens". :cool: Not hoarding...just prepared.
Click to expand...

All you need is to hoard some aspirin... :p

Everytime I see "LDS" in print, I'm reminded of the line from Star Trek IV. :D

I buy non-perishables in large sizes, if there's a reasonable cost savings, but there's a practical limit of how much "stuff" I want filling every empty space in the kitchen and pantry.
 
I bake all our bread and goodies from scratch so I have to admit to feeling butterflies at the thought of not being able to get my flour of choice. Two weeks ago I bought two 10lb bags of King Arthur Flour at BJ's for $5.49 a bag. Today they were $7.99. I'm PO'd!!!
 
My neighbor said he was going to "pre buy" clothing for his daughter for the next several years - expecting prices to rise and taking advantage of current prices.

I thought he was joking. He was serious. Unbelievable.
 
Delawaredave5 said:
My neighbor said he was going to "pre buy" clothing for his daughter for the next several years - expecting prices to rise and taking advantage of current prices.

I thought he was joking. He was serious. Unbelievable.
Click to expand...
This is the kind of stuff that will help prices plummet in the future. You can only "pre-buy" and hoard so much, and once you already have yours and the demand falls off sharply, these hoarders may be kicking themselves.
 
Delawaredave5 said:
My neighbor said he was going to "pre buy" clothing for his daughter for the next several years - expecting prices to rise and taking advantage of current prices.

I thought he was joking. He was serious. Unbelievable.
Click to expand...

Does he know that cloth has a shelf life?
 
Delawaredave5 said:
My neighbor said he was going to "pre buy" clothing for his daughter for the next several years - expecting prices to rise and taking advantage of current prices.

I thought he was joking. He was serious. Unbelievable.
Click to expand...

Does he know that daughters have a shelf life?

Wish I'd done that 20 years ago for my daughter when legwarmers and scrunchies were on sale!
 
You must log in or register to reply here.

Similar threads

L
All my eggs in one basket (brokerage)?
2
Replies
46
Views
3K
pacergal
P
Brook2
Is there any reason for a FIRE person to keep years of tax records?
Replies
18
Views
881
FLSUnFIRE
F
M
Should I Sell?
2 3
Replies
69
Views
4K
l8_apex
L
2
Reducing stock exposure in Retirement, age 60+
4 5 6
Replies
144
Views
8K
Onda
O
B
2023 taxes - inherited ira question
Replies
9
Views
507
bobbyr
B

Latest posts

Back
Top Bottom