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Old 06-24-2012, 12:42 PM
 
Location: In a state of denial
1,290 posts, read 1,553,805 times
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Quote:
Originally Posted by happehart View Post
I just don't get this idea of stocking up on things at home, I could see this if I notice there is shortage in something and when I see it in store then I buy as much as I can, but everything is in abundance everywhere, all supermarkets have sales every week. Like the previous poster said, what if the storage is no good and whatever you buy goes bad, what if you just die, who wants to inherit toilet paper. Be smart, save some cash and have enough food at home to feed you for couple weeks and enjoy your life. If dooms day is tomorrow at least you have a nice memory of today to go back to.
When a person loses their job it is nice to have a supply to fall back on. In fact, this has happened to a a lot of people recently and they are grateful they had their stockpile to fall back on.

Also, there are weather emergencies that happen (more and more are happening) so one never knows when they will need staples to fall back on with that too.
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Old 06-24-2012, 01:17 PM
 
8,493 posts, read 7,141,746 times
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Inflation will not come roaring back anytime soon. Is it still a good idea to have stockpiles of food? Ask the folks in New Orleans in 2005.
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Old 06-24-2012, 06:17 PM
 
164 posts, read 270,963 times
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Quote:
Originally Posted by gwynedd1 View Post
Hi mgt04,

If you like doing things the hard way, salt is not necessary. I like the easy way. That's why they have that old saying "salt it away".
Actually salt is vitally important to sustain life. You would eventually die with no salt intake. We don't realize that today because practically everything processed has salt in it.
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Old 06-24-2012, 09:11 PM
 
Location: Conejo Valley, CA
12,352 posts, read 10,737,470 times
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Quote:
Originally Posted by chuck_steak View Post
When a person loses their job it is nice to have a supply to fall back on. In fact, this has happened to a a lot of people recently and they are grateful they had their stockpile to fall back on.

Also, there are weather emergencies that happen (more and more are happening) so one never knows when they will need staples to fall back on with that too.
And if the person instead saved the money in a low-risk investment vehicle they could also "fall back on it". Additionally, stockpiles can become worthless in a matter of years. You can rotate your stockpile, but that means you'll have to routinely consume all the processed junk in your stock-pile thereby reducing your overall health.

Having a weeks worth of food/water is always a good idea, but that doesn't take a large stock-pile.
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Old 06-25-2012, 07:31 AM
 
14,040 posts, read 4,370,686 times
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Quote:
Originally Posted by user_id View Post
And if the person instead saved the money in a low-risk investment vehicle they could also "fall back on it". Additionally, stockpiles can become worthless in a matter of years. You can rotate your stockpile, but that means you'll have to routinely consume all the processed junk in your stock-pile thereby reducing your overall health.

Having a weeks worth of food/water is always a good idea, but that doesn't take a large stock-pile.
Correct!

The incentive to hoard occurs when prices are rising fast -- 'I might as well buy it now before the price rises.' That's what happened in the early 1970s.

When inflation is low, there is no sense in buying goods for a rainy day that you must expend today's cash and then store away. One might as well leave the money in cash or in the bank.

But going back to post#1, which was posted July 2011:
Quote:
Originally Posted by donsabi View Post
Super inflation, fact or fiction, is it a scare tactic or is it just a matter of when?
Regardless, how many are preparing for this? I am loading up on any item I normally use but I am trying to do it through bogo sales. Laugh but I now have about a two year supply of toilet paper and about a years worth of paper towels all bought on bogo sales. I now considering building a large supply of dry goods like salt, rice, beans, etc. Anyone else preparing?
As time hold (and I predicted,) there was no reason to panic. Inflation over the last year was 1.7% -- hardly anything to be worried about -- certainly not a cause to hoard household products.
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Old 06-25-2012, 12:44 PM
 
Location: In a state of denial
1,290 posts, read 1,553,805 times
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Quote:
Originally Posted by user_id View Post
And if the person instead saved the money in a low-risk investment vehicle they could also "fall back on it". Additionally, stockpiles can become worthless in a matter of years. You can rotate your stockpile, but that means you'll have to routinely consume all the processed junk in your stock-pile thereby reducing your overall health.

Having a weeks worth of food/water is always a good idea, but that doesn't take a large stock-pile.
I've personally known people that have lost their houses, jobs, and cars in this horrible economy. and you know what? they were grateful they had that six month to a year supply of food to fall back on because they needed it when times were tough. You never know when you are going to be without a job months or years on end and will need that stockpile to fall back on. The same with weather emergencies. The people up north with the floods and the people in Katrina who were prepared didn't starve when they had no electricity, food supplies, or water supplies for weeks on end because they had all that stored away. A lot of people weren't so lucky and perished. It's up to the individual, but I say it's better to be prepared than to perish.
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Old 06-25-2012, 01:40 PM
 
Location: Conejo Valley, CA
12,352 posts, read 10,737,470 times
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Quote:
Originally Posted by chuck_steak View Post
I've personally known people that have lost their houses, jobs, and cars in this horrible economy. and you know what? they were grateful they had that six month to a year supply of food to fall back on because they needed it when times were tough.
You're ignoring my point, they can instead put the money into a low-risk investment and can use it just the same when they hit difficulties. This way they don't have to worry about storage, rotating the storage, spoilage, etc. Much easier...and it achieves the same goal.

For emergencies, around a weeks worth of food and water is usually sufficient. Of course, if you live in a rural community you may need more. You don't need months, it only took a few days to get a steady supply of food/water into New Orleans after Katrina. People weren't dying of starvation during Katrina....
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Old 06-25-2012, 01:57 PM
 
14,040 posts, read 4,370,686 times
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Quote:
Originally Posted by chuck_steak View Post
I've personally known people that have lost their houses, jobs, and cars in this horrible economy. and you know what? they were grateful they had that six month to a year supply of food to fall back on because they needed it when times were tough. You never know when you are going to be without a job months or years on end and will need that stockpile to fall back on. The same with weather emergencies. The people up north with the floods and the people in Katrina who were prepared didn't starve when they had no electricity, food supplies, or water supplies for weeks on end because they had all that stored away. A lot of people weren't so lucky and perished. It's up to the individual, but I say it's better to be prepared than to perish.
These are your decision choices:

a) Take $500 and buy food and household products.
b) Keep the $500 in the bank.

If you lose your job, yes you have $500 worth of products to use but you don't have the $500 in the bank any longer which you could have used to buy the products.

If you had a devastating Katrina event, the products would have been destroyed and you'd have neither the food/products or the $500.

Bottom line: Money is fungible that's why it was invented. Hoarding only makes sense if money is losing value, which isn't the case.
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Old 07-02-2012, 11:12 AM
 
12,660 posts, read 8,479,161 times
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Quote:
Originally Posted by MTAtech View Post
These are your decision choices:

a) Take $500 and buy food and household products.
b) Keep the $500 in the bank.

If you lose your job, yes you have $500 worth of products to use but you don't have the $500 in the bank any longer which you could have used to buy the products.

If you had a devastating Katrina event, the products would have been destroyed and you'd have neither the food/products or the $500.

Bottom line: Money is fungible that's why it was invented. Hoarding only makes sense if money is losing value, which isn't the case.
Money might be fungible but stored food is a diversified investment. There are few returns that would have matched dry means in a mylar bag unless you know anything else that doubled in the last few years. So I see nothing wrong with it as part of an investment strategy, so long as its done within reason.
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Old 07-02-2012, 11:26 AM
 
12,660 posts, read 8,479,161 times
Reputation: 4743
Quote:
Originally Posted by user_id View Post
You're ignoring my point, they can instead put the money into a low-risk investment and can use it just the same when they hit difficulties. This way they don't have to worry about storage, rotating the storage, spoilage, etc. Much easier...and it achieves the same goal.

For emergencies, around a weeks worth of food and water is usually sufficient. Of course, if you live in a rural community you may need more. You don't need months, it only took a few days to get a steady supply of food/water into New Orleans after Katrina. People weren't dying of starvation during Katrina....

How do you people know this ? What if a Tambora like eruption affects a few years of harvest? If everyone just spent $500 it would make some difference. Money is still debt based meaning you still need to access the existing economy. Its not real savings. I am not the paranoid end of the world type either but $500 is cheap insurance and will probably retain its value and then some. 10k worth would be crazy. Make it something you would eat anyway like grain and lentils that can last 30 years.

My best investment for this sort of thing though has been a crank up led light and radio which I just used after a power outage from the recent storms.
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