Poll: Are you preparing for hyperinflationary scenario?

[VinnieBoomBah]

Trying to sting it with what? "Sorry Sybil, all I had at time was a 12 gauge." LOL

Yeah, probably. But you know those Southerners . . .





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[American123]

Hoarding cash in a hyperinflationary environment will only ensure that you have a supply of toilet paper.

That said, we are not anywhere near hyperinflation:

"Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month."

What Is Hyperinflation? Causes, Effects, Examples, and How to Prepare

Hyperinflation describes rapid and out-of-control price increases in an economy. Learn the causes of hyperinflation and how it can impact everyday consumers.

www.investopedia.com

Not all that decent, really. He shot his aunt's cat because it walked through his yard. Then he left a note on her front porch which said words to this effect: "Sorry I had to shoot your cat but I told you to keep it at home." Don't remember the exact words - it's been years since I read his biography.

For sure on the money vs value aspect in hyper inflation. See various points in history where wheelbarrows of money were used to buy bread. Venezuela being a prominent recent example.

Cash in general sucks anyway except for handling short term transactions, hoarding cash would only make sense if there was a fixed amount, however the Federal reserve ensures that the hoarded cash loses value every year as the continue to inject more funds into the system so they are getting your money regardless. As soon as we left the gold standard it became a super rigged system.

Personally, seems the prudent route is to hedge bets. Prepare as if society will continue as intended so you aren't completely reliant on government to care for you as an eldery, but also have measures in place that physical goods that are necessary to succeed despite a crash in the dollar/economy/society.

 

[P7M13]

@Cavedweller , I'd say we misunderstood each other. Your argument makes sense, and I was speaking to the folly of carrying adjustable rate debt in said scenario. Thanks for your write-up.

 

[tinhorn]

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.

Yup, good luck with that. Worst situations I've had was when a wife either controlled or had an eagle eye on my (yup, always MY) income. Currently over 20 years with a wife who has no clue what I make, what I have saved, or what I have stashed. She can't spend what she can't find. (When I croak she's gonna wish she was nicer to me.)

Helps that she has her own income to blow on all that girlie-waste.

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

I suggest keeping a stash despite it losing value, but invest when possible in those things that you'll want to buy when things get tough--either for your own use (canned food, ammo) or for possible barter (hmm...canned food, ammo, silver coins...)

You don't have a car or truck? A sheet of plywood, or any other building material stacked up?
I have a 2017 3500 Denali and a 2012 Toyota Tundra that are worth 250% more than what I paid for them, and a shop full of plywood I bought at $7 a sheet, now going for $70 a sheet.

A couple years ago I lucked into a boatload of 6x8 wood fence panels (seconds, with one or two broken pickets) that I bought for $10 apiece. They're now selling at Lowes for $65 to $110. Takes about two minutes to replace a busted picket. Gonna cash in this summer.