Poll: Are you preparing for hyperinflationary scenario?

[CountryGent]

So, the inflation rate presently is bad. Damn bad. Albeit not as bad as other times in US history, but this ain't over yet. And, historically, and in other societies, out of control inflation has been the harbinger of, at times, dramatically chaotic events.

Which brings us to the question: are you actively preparing for an hyperinflationary scenario? If so, why and how? If not, why not? Thanks for sharing!

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[Longwalkhome]

You guys don't need my doom and gloom opinions. You will figure it out as it happens.

Good luck.

 

[P7M13]

Curious times.
Yes, I'm watching the meter very closely. Eliminating all debt except for the mortgage.
Grateful for the changes I've made thus far.

 

[kmk1012]

Not really preparing, kinda selfish on my part as I've been diagnosed with something that'll make me gone in a couple years. But, as far as living stuff, that's taken care of for my wife and four kids after I'm gone. Right now, I'm living like there's no tomorrow, heck, a car crash could take me sooner. There's no guarantees in life, ever, so I'm living in the moment.

 

[Longwalkhome]

Medusa Touch! Natural Gas UP 192% Under Biden, Diesel UP 176%, Regular Gasoline UP 74%, Foodstuffs UP 59% (Thanks Biden And Federal Reserve!)

We all know (except for Biden apparently) that inflation is up 8.5% YoY as measured by the change in the Consumer Price Index (CPI). However, the CPI change doesn’t fully capture what is crus…

confoundedinterest.net

 

[Gbirk]

We have been living below our means for quite some time, so no debt that does not get paid off monthly, and most monthly expenses are variable although some like power and water would be hard to live without (possible but hard). I am self employed, and fairly secure. My income could drop if clients close up shop, but most of my clients are legal and financial firms. So I am not too worried about my job and no one client is too huge to lose and take me out as well. We are living in the Suburbs and thought about moving a little further out into the country, but property prices have risen to the point where that is not possible any more as I refuse to take on a bunch of debt or eat into my retirement fund to do it. We don't have stockpiles of food and water, but do have an emergency stash. It could be bigger, but storage space becomes an issue then too.

So, honest question, what else would you recommend a person to do? I don;t expect the country to fall apart, just seems like there may be some slim times coming.

 

[Member 34319]

I do eyeball the long term storable foods a little harder in the stores. That's about it.

 

[Longwalkhome]

Rumor has it that Elon Musk tried to buy Joe Biden but the CCP won't sell.

Nothing yall can do but ride it out.

Good luck.

 

[Hueco]

Just bought a new car and about to sell the house. Those things were planned ahead of all this crazy - the timing just is what it is. Downsizing food stored for a cross country move.

I'm not super stoked to be within the nuclear blast radius of our country's most important people…but again, what can you do?

My time on here has taught me that prepping is a settled man's game. Most of what's done doesn't fit a hyper limited budget, apartment or city living, or transient living.

I also find it difficult to draw comparisons to the past. We've never had monetary or fiscal policy like what we have now. We've never been as much a service economy as now. We've never had a military like now nor had enemies or global partners like now. Everything is much more complex now than it was during, say, the depression.

We're all just along for the ride.

 

[Longwalkhome]

Some folks are really afraid of the future so they buy an insurance policy so to speak.

Plan and prep: A beginner’s guide to urban survival

If you’re a prepper living in the city, you need to have an emergency preparedness plan before SHTF so you can bug in or bug out as needed. If you’re not sure where to start, learn about the six principles of survival and prepare a bug-out bag. (h/t to SurvivalCache.com) Wilderness survival...

www.disaster.news

Will it do them any good in the future you see? What's the future?

 

[308]

Our long term investments are down 25% but thankfully we were able to withdraw our short term $$ at the peak last year and pay cash for our ranch. Also zero debt makes it easier for us as well. Been seeing this day come for many, many years.

 

[Certaindeaf]

I stocked up on Grapes of Wrath brand grape jelly so I'm good.

 

[albin25]

Short of a complete structural collapse of my home, I think I'll stay put, sitting on my pile of food and supplies. No mortgage... but if things get so bad that society crashes, even if you have a mortgage, who you gonna make payments to?

I notice that there already seems to be lots and lots of people bugged out living on the streets of most of the big blue cities, havein' a good ol'time "free shopping" and chemically "recreatin' "...
.... Maybe they're just trendy "early adopters" and/or slightly ahead of the curve? Most of them appear to have the full support of Media, Politicians and the "smart,cool" geniuses on the Award Show Circuit.

 

[3MTA3]

I pulled out some cash to spend on preps before the cash lost it's value. I spent mostly on things that were being impacted the heaviest by inflation. Otherwise we are spending as wisely and as frugally as possible.

Retirement investments are the most vulnerable - consider that "officially" the dollar lost 10% of it's buying power due to inflation and yesterday it was reported that stocks are down 10%. That combines to a 19% purchasing power loss on average investments in just one year. Thanks, Joe!

This will continue for at least one to two years, since it's origin is political and therefore can't change before new politicians are sworn in early next year, and will likely take a minimum of a year for the market to respond. That assumes the elections will bring control to the free market politicians.

 

[ATCclears]

Current range of the US benchmark interest rate after the increase this week is between 0.75% and 1%. Guy in article says it needs to go to 3.5% to ease inflation.


https://www.wsj.com/articles/ex-fed...h3325hq2t9e&reflink=desktopwebshare_permalink

 

[The Heretic]

 

[Cavedweller]

Eliminating all debt except for the mortgage.
Grateful for the changes I've made thus far.

Also zero debt makes it easier for us as well. Been seeing this day come for many, many years.

How is debt reduction in any way preparation for hyperinflation? To the contrary, if one expects hyperinflation, doesn't it make more sense to pay off current debt in the future with much cheaper dollars?

 

[308]

How is debt reduction in any way preparation for hyperinflation? To the contrary, if one expects hyperinflation, doesn't it make more sense to pay off current debt in the future with much cheaper dollars?

Not being a debt slave makes it easier to roll with whatever circumstances arise.

 

[The Heretic]

How is debt reduction in any way preparation for hyperinflation? To the contrary, if one expects hyperinflation, doesn't it make more sense to pay off current debt in the future with much cheaper dollars?

On the one hand, long term, it can indeed be a benefit to pay fixed debt (more or less, like a mortgage) with inflated dollars.

OTOH, inflation can make it harder to pay the debt because you may be paying that debt with a fixed income (more or less) and either way, your other costs (food, fuel, etc. - even housing) probably have gone up. If you have zero debt, you often have, or may have, more buffer between your income and your costs.

I more or less live on a fixed income (Social Security) - even though it was increased by 7% this year, my income barely pays my costs - my mortgage payment is 77% of my income, the remainder goes to food, utils, insurance, healthcare. There is nothing left of that income at the end of the month - and I may have to dip into my savings to pay those costs (I don't track it that closely). If I didn't have savings, I would barely be making it, and the costs go up before my SS income is raised after the fact, so the increase lags behind the cost, by at least a full year.

E.G., before I retired, I earned six figure income. I only had one raise during the 9 years I worked for Daimler, despite the staffing agency getting a 25% increase in what they charged Daimler, I barely got a 5% raise. But my income was 3X my living expenses, so the typical 2% inflation each year was not a huge impact on my ability to pay my bills or my discretionary spending, plus I was able to put 30% of my income it into my 401K and Roth IRA, and other savings.

It depends on the person's situation, it isn't as simple as saying that you are paying with cheaper dollars.

 

[The Heretic]

Not being a debt slave makes it easier to roll with whatever circumstances arise.

Much more succinct than what I said.