Poll: Are you preparing for hyperinflationary scenario?

[Cavedweller]

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

That's true at any time. But the question was not how to best prepare for all possible economic circumstances. The question was how to prepare for hyperinflation.

Let's suppose that someone is carrying debt for whatever reason at the present time, and one anticipates hyperinflation in the future. Let's also suppose that that person has disposable income which they can use to either reduce debt or invest in a commodity whose price will increase in a hyperinflationary environment. Doesn't it make better economic sense to buy the commodity (ammunition for example) and sell it later a greatly inflated price, and use the proceeds to pay off the debt, the price of which has remained fixed, but the value of which has been greatly reduced?

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

It's probably somewhat situational, as you suggest. But if your past posts are any indication, you spend a crapload on firearms and ammo, so...

 

[Stomper]

The one thing I don't worry about is stocking up on sandbags…. I strongly suspect enough of those will be available as they walk up during the the riots and raiding they'll be partaking in.

 

[Stomper]

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

I literally only "need" to work two days a week (it used to be three days a week) to maintain my lifestyle…. that makes me "intimidation proof" when say…. Employers or OSHA illegally mandate "vaccines" for instance.

I could literally make and sell things on the internet to make a viable living (I've done it before) on my own terms, because I'm virtually debt free.

 

[The Heretic]

It's probably somewhat situational, as you suggest. But if your past posts are any indication, you spend a crapload on firearms and ammo, so...

True, but that is changing. My liquid savings are depleted (mostly paying for a roof repair - $25K and a broken fridge $2K), so I have been selling/trading off redundancies and reducing my discretionary spending by quite a bit. My semi-liquid savings (401K/IRAs) took a $50K hit in the market, so I am disinclined to tap those. My real estate equity - that remains to be seen and if I can sell for a good profit, I will just need to turn around and sink it into different real estate, which will probably also be at an inflated cost.

 

[Nosferatu]

 

[American123]

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?

That was my thought, bought a van with a 72 month term and a 2% APR. thought to myself… almost 10% inflation, 2% fixed APR, thought the bank is doing me a favor because 3-7 years from now those dollars are a lot less than when I bought the van at this rate.

 

[Howard1955]

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.

If you're a praying man, then ask the Lord for guidance and help. We don't know what's coming, but I reckon He does.

Since you live in the suburbs, you might want to talk with family or friends who live on acreage - a place that has a good water supply. If things go truly bad, any stockpile of food a person has will only last so long. Being able to produce and preserve food is essential, and having a place to go that can support your family from year to year would be best.

I've been wondering if anyone in the past could see the Dark Ages coming. How would they have prepared for that?

If the geniuses who are currently in power continue along the same trajectory they're on now, we might wake up someday soon to a post-nuclear-war environment.

Let's hope "slim times" is as bad as it gets.

 

[41mag]

"post nuclear war environment".....
speaking of conundrums....

 

[titsonritz]

Hell yes I am, I'm buying NV and gear before it becomes even more unaffordable.

 

[Hawaiian]

I am retiring in 2 months. All was fine in the planning. No debt, decent retirement savings.
Now the retirement accounts are taking a hit. Because of my age, my investment accounts are conservative in risk, but they are still taking a hit. Add the price increase in everything from toilet paper to food and utilities, it only gets worse. My biggest challenge is getting my wife to understand that my paycheck is going away and she needs to curtail her practice of see money, spend money. It is an uphill battle, wish me luck.

 

[arakboss]

I am stocking up on wheelbarrows so I can loan them to buyers who will want to buy my rice. A wheelbarrow full of cash for a bag of rice.

 

[308]

I am retiring in 2 months. All was fine in the planning. No debt, decent retirement savings.
Now the retirement accounts are taking a hit. Because of my age, my investment accounts are conservative in risk, but they are still taking a hit. Add the price increase in everything from toilet paper to food and utilities, it only gets worse. My biggest challenge is getting my wife to understand that my paycheck is going away and she needs to curtail her practice of see money, spend money. It is an uphill battle, wish me luck.

Inviting Brown Santa to your home every other day can be a hard habit to break.

 

[arakboss]

The one thing I don't worry about is stocking up on sandbags…. I strongly suspect enough of those will be available as they walk up during the the riots and raiding they'll be partaking in.

Maybe a few bags of lime to sprinkle on top.

 

[Stomper]

Maybe a few bags of lime to sprinkle on top.

Naw…. fly's gotta eat, too.

 

[monkeybutler]

What should we be doing? Hoarding cash, to buy into the market when it bottoms out? Hoarding canned beans?

 

[Member 3687]

If I can make it through Jimmy Carter I should be able to make it through this guy in the white house.

The bad part is at least with Carter we got Billy Beer so far this whack job in the white house doesn't have a fun side.

 

[patrikky]

True, but that is changing. My liquid savings are depleted (mostly paying for a roof repair - $25K and a broken fridge $2K), so I have been selling/trading off redundancies and reducing my discretionary spending by quite a bit. My semi-liquid savings (401K/IRAs) took a $50K hit in the market, so I am disinclined to tap those. My real estate equity - that remains to be seen and if I can sell for a good profit, I will just need to turn around and sink it into different real estate, which will probably also be at an inflated cost.

That's is my conundrum also. Real estate is a good investment however we are also in a housing bubble that may burst by the end of year. So the future is anyone's guess.

 

[patrikky]

Hell yes I am, I'm buying NV and gear before it becomes even more unaffordable.

Been drooling over this STEINER CQT CLOSE QUARTER THERMAL.

 

[titsonritz]

If I can make it through Jimmy Carter I should be able to make it through this guy in the white house.

The bad part is at least with Carter we got Billy Beer so far this whack job in the white house doesn't have a fun side.

This current freak is way worse that Carter. Carter was not a traitor to his country he was a simply another weak liberal.

 

[308]

This current freak is way worse that Carter. Carter was not a traitor to his country he was a simply another weak liberal.

We haven't yet had to send our kids to sit in the gas line on odd or even days to get 10/gal gas while we are at work. Kinda hoping to see Brandon attacked by a rabbit also…if possible.